Alerus Financial (ALRS) 10-K 11 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 28, 2022	Jun. 30, 2021
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-39036
Entity Registrant Name	ALERUS FINANCIAL CORPORATION
Entity Incorporation, State	DE
Entity Tax Identification Number	45-0375407
Entity Address, Address Line One	401 Demers Avenue
Entity Address, City or Town	Grand Forks
Entity Address, State or Province	ND
Entity Address, Postal Zip Code	58201
City Area Code	701
Local Phone Number	795-3200
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	ALRS
Security Exchange Name	NASDAQ
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,261,642
Entity Public Float			$ 470,221,030
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0000903419
Amendment Flag	false
Auditor Name	CliftonLarsonAllen LLP
Auditor Firm ID	655
Auditor Location	Minneapolis, Minnesota

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 242,311	$ 172,962
Available-for-sale, at fair value	853,649	592,342
Held-to-maturity, at carrying value	352,061
Loans held for sale	46,490	122,440
Loans	1,758,020	1,979,375
Allowance for loan losses	(31,572)	(34,246)
Net loans	1,726,448	1,945,129
Land, premises and equipment, net	18,370	20,289
Operating lease right-of-use assets	3,727	6,918
Accrued interest receivable	8,537	9,662
Bank-owned life insurance	33,156	32,363
Goodwill	31,490	30,201
Other intangible assets	20,250	25,919
Servicing rights	1,880	1,987
Deferred income taxes, net	11,614	9,409
Other assets	42,708	44,150
Total assets	3,392,691	3,013,771
Deposits
Noninterest-bearing	938,840	754,716
Interest-bearing	1,981,711	1,817,277
Total deposits	2,920,551	2,571,993
Long-term debt	58,933	58,735
Operating lease liabilities	4,275	7,861
Accrued expenses and other liabilities	49,529	45,019
Total liabilities	3,033,288	2,683,608
Stockholders' equity
Preferred stock, $1 par value, 2,000,000 shares authorized: 0 issued and outstanding
Common stock, $1 par value, 30,000,000 shares authorized: 17,212,588 and 17,125,270 issued and outstanding	17,213	17,125
Additional paid-in capital	92,878	90,237
Retained earnings	253,567	212,163
Accumulated other comprehensive income (loss)	(4,255)	10,638
Total stockholders' equity	359,403	330,163
Total liabilities and stockholders' equity	$ 3,392,691	$ 3,013,771

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Consolidated Balance Sheets
Preferred stock, par value	$ 1	$ 1
Preferred Stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	17,212,588	17,125,270
Common stock, shares outstanding	17,212,588	17,125,270

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest Income
Loans, including fees	$ 78,133	$ 86,425	$ 85,830
Taxable	13,001	7,798	5,576
Exempt from federal income taxes	925	949	798
Other	598	930	1,096
Total interest income	92,657	96,102	93,300
Interest Expense
Deposits	3,661	8,843	13,334
Short-term borrowings			1,805
Long-term debt	1,897	3,413	3,610
Total interest expense	5,558	12,256	18,749
Net interest income	87,099	83,846	74,551
Provision for loan losses	(3,500)	10,900	7,312
Net interest income after provision for loan losses	90,599	72,946	67,239
Noninterest Income
Mortgage banking	48,502	61,641	25,805
Net gains (losses) on investment securities	125	2,737	357
Other	4,604	5,177	6,947
Total noninterest income	147,387	149,371	114,194
Noninterest Expense
Compensation	93,386	89,206	74,018
Employee taxes and benefits	22,033	20,050	19,456
Occupancy and equipment expense	8,148	10,058	10,751
Business services, software and technology expense	20,486	19,135	16,381
Intangible amortization expense	4,380	3,961	4,081
Professional fees and assessments	6,292	4,834	4,011
Marketing and business development	3,182	3,133	3,162
Supplies and postage	2,361	2,174	2,722
Travel	442	359	1,787
Mortgage and lending expenses	4,250	5,707	2,853
Other	3,949	5,182	3,315
Total noninterest expense	168,909	163,799	142,537
Income before income taxes	69,077	58,518	38,896
Income tax expense	16,396	13,843	9,356
Net income	$ 52,681	$ 44,675	$ 29,540
Per Common Share Data
Basic earnings per common share	$ 3.02	$ 2.57	$ 1.96
Diluted earnings per common share	2.97	2.52	1.91
Dividends declared per common share	$ 0.63	$ 0.60	$ 0.57
Average common shares outstanding	17,189	17,106	14,736
Diluted average common shares outstanding	17,486	17,438	15,093
Retirement and Benefit Services
Noninterest Income
Revenue	$ 71,709	$ 60,956	$ 63,811
Wealth Management
Noninterest Income
Revenue	21,052	17,451	15,502
Deposit Account
Noninterest Income
Revenue	$ 1,395	$ 1,409	$ 1,772

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated Statements of Comprehensive Income
Net Income	$ 52,681	$ 44,675	$ 29,540
Other Comprehensive Income (Loss), Net of Tax
Unrealized gains (losses) on available-for-sale securities	(19,433)	14,355	7,751
Accretion of (gains) losses on debt securities reclassified to held-to-maturity	(326)
Reclassification adjustment for losses (gains) realized in income	(125)	(2,737)	(357)
Total other comprehensive income (loss), before tax	(19,884)	11,618	7,394
Income tax expense (benefit) related to items of other comprehensive income	(4,991)	2,916	1,857
Other comprehensive income (loss), net of tax	(14,893)	8,702	5,537
Total comprehensive income	$ 37,788	$ 53,377	$ 35,077

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders Equity - USD ($) $ in Thousands	Common Stock	Additional Paid in Capital.	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	ESOP - Owned Shares	Total
Beginning balance at Dec. 31, 2018	$ 13,775	$ 27,743	$ 159,037	$ (3,601)	$ (34,494)	$ 162,460
Net Income			29,540			29,540
Other comprehensive income (loss)				5,537		5,537
Common stock repurchased	(81)	(291)	(1,576)			(1,948)
Common stock dividends			(8,909)			(8,909)
ESOP repurchase obligation termination					$ 34,494	34,494
Initial public offering of 3,289,000 shares of common stock net of issuance costs	3,289	59,515				62,804
Share-based compensation expense	13	1,737				1,750
Vesting of restricted stock	54	(54)
Ending balance at Dec. 31, 2019	17,050	88,650	178,092	1,936		285,728
Net Income			44,675			44,675
Other comprehensive income (loss)				8,702		8,702
Common stock repurchased	(16)	(249)	(217)			(482)
Common stock dividends			(10,387)			(10,387)
Share-based compensation expense	14	1,913				1,927
Vesting of restricted stock	77	(77)
Ending balance at Dec. 31, 2020	17,125	90,237	212,163	10,638		330,163
Net Income			52,681			52,681
Other comprehensive income (loss)				(14,893)		(14,893)
Common stock repurchased	(18)	(348)	(346)			(712)
Common stock dividends			(10,931)			(10,931)
Share-based compensation expense	9	3,086				3,095
Vesting of restricted stock	97	(97)
Ending balance at Dec. 31, 2021	$ 17,213	$ 92,878	$ 253,567	$ (4,255)		$ 359,403

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders Equity (Parenthetical)	12 Months Ended
	Dec. 31, 2019shares
Consolidated Statements of Changes in Stockholders' Equity
IPO common stock net of issuance costs	3,289,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Activities
Net income	$ 52,681	$ 44,675	$ 29,540
Adjustments to reconcile net income to net cash provided (used) by operating activities
Deferred income taxes	2,786	(4,434)	337
Provision for loan losses	(3,500)	10,900	7,312
Depreciation and amortization	8,868	8,950	8,768
Amortization and accretion of premiums/discounts on investment securities	3,744	1,760	1,127
Amortization of operating lease right-of-use assets	(58)	(25)
Stock-based compensation	3,095	1,927	1,750
Increase in value of bank-owned life insurance	(793)	(797)	(803)
Realized loss (gain) on sale of branch			(1,544)
Realized loss (gain) on sale of fixed assets	(62)	707	(541)
Realized loss (gain) on derivative instruments	8,459	1,927	(2,051)
Realized loss (gain) on loans sold	(48,038)	(57,070)	(18,942)
Realized loss (gain) on sale of foreclosed assets	(275)	(28)	(122)
Realized loss (gain) on sale of investment securities	(125)	(2,737)	(357)
Realized loss (gain) on servicing rights	(638)	936	(209)
Net change in:
Securities held for trading			1,539
Loans held for sale	123,945	(18,621)	(13,146)
Accrued interest receivable	1,125	(2,111)	12
Other assets	(7,963)	(2,694)	4,399
Accrued expenses and other liabilities	5,865	(5,527)	2,179
Net cash provided (used) by operating activities	149,116	(22,262)	19,248
Investing Activities
Proceeds from sales or calls of investment securities available-for-sale	13,189	75,647	32,565
Proceeds from maturities of investment securities available-for-sale	125,581	69,680	37,109
Purchases of investment securities available-for-sale	(571,595)	(414,724)	(123,226)
Proceeds from sales or calls of investment securities held-to-maturity	1,772
Proceeds from maturities of investment securities held-to-maturity	12,545
Purchases of investment securities held-to-maturity	(218,363)
Net (increase) decrease in equity securities		2,808	357
Net (increase) decrease in loans	221,006	(259,130)	(21,898)
Net cash paid for business combinations		(9,279)
Proceeds from sale of branch			10,379
Proceeds from sale of fixed assets			875
Purchases of premises and equipment	(1,706)	(3,811)	(2,901)
Proceeds from sales of foreclosed assets	629	429	1,146
Net cash provided (used) by investing activities	(416,942)	(538,380)	(65,594)
Financing Activities
Net increase (decrease) in deposits	348,558	600,677	191,444
Net increase (decrease) in short-term borrowings			(93,460)
Repayments of long-term debt	(49,920)	(210)	(230)
Proceeds from the issuance of subordinated debt	50,000
Cash dividends paid on common stock	(10,751)	(10,387)	(8,909)
Repurchase of common stock	(712)	(482)	(1,948)
Proceeds from the issuance of common stock in initial public offering net of issuance costs			62,804
Net cash provided (used) by financing activities	337,175	589,598	149,701
Net change in cash and cash equivalents	69,349	28,956	103,355
Cash and cash equivalents at beginning of period	172,962	144,006	40,651
Cash and cash equivalents at end of period	242,311	172,962	144,006
Cash paid for:
Interest	4,538	12,641	18,431
Income taxes	13,124	13,582	7,219
Cash and cash equivalents acquired		513
Non-cash information
Loan collateral transferred to foreclosed assets	1,176	456	828
Unrealized gain (loss) on investment securities available-for-sale	(14,567)	8,702	5,537
Accretion of unrealized (gain) loss on investment securities held-to-maturity	(326)
Investment securities transferred to held-to-maturity	149,191
Initial recognition of operating lease right-of-use assets			10,485
Initial recognition of operating lease liabilities			11,006
Right-of-use assets obtained in exchange for new operating leases	$ 267	1,555
ESOP repurchase obligation termination			$ 34,494
Noncash assets acquired		14,627
Liabilities assumed		(5,348)
Net noncash acquired		$ 9,279

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Significant Accounting Policies	NOTE 1 Significant Accounting Policies Alerus Financial Corporation is a financial holding company organized under the laws of Delaware. Alerus Financial Corporation and its subsidiaries, or the Company is a diversified financial services company headquartered in Grand Forks, North Dakota. Through its subsidiary, Alerus Financial, National Association, or the Bank, the Company provides innovative and comprehensive financial solutions to businesses and consumers through four distinct business lines – banking, retirement and benefit services, wealth management, and mortgage. The Bank operates under a national charter and provides full banking services. As a national bank, the Bank is subject to regulation by the Office of the Comptroller of Currency and the Federal Deposit Insurance Corporation. Initial Public Offering On September 17, 2019, the Company sold 2,860,000 shares of common stock in its initial public offering. On September 25, 2019, the Company sold an additional 429,000 shares of common stock pursuant to the exercise in full, by the underwriters, of their option to purchase additional shares. The aggregate offering price for the shares sold by the Company was $69.1 million, and after deducting $4.7 million of underwriting discounts and $1.6 million of offering expenses paid to third parties, the Company received total net proceeds of $62.8 million. Policies which materially affect the determination of financial position, cash flows, and results of operations are summarized below. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries in which the Company has a controlling interest. Significant intercompany balances and transactions have been eliminated in consolidation. In the normal course of business, the Company may enter into a transaction with a variable interest entity, or VIE. VIEs are legal entities whose investors lack the ability to make decisions about the entity’s activities, or whose equity investors do not have the right to receive the residual returns of the entity. The applicable accounting guidance requires the Company to perform ongoing quantitative and qualitative analysis to determine whether it must consolidate any VIE. The Company does not have any ownership interest in or exert any control over any VIE, and thus no VIEs are included in the consolidated financial statements. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include the valuation of investment securities, determination of the allowance for loan losses, valuation of reporting units for the purpose of testing goodwill and other intangible assets for impairment, valuation of deferred tax assets, and fair values of financial instruments. Emerging Growth Company The Company qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012, or the JOBS Act, and may take advantage of certain exemptions from various reporting requirements that are applicable to public companies that are not emerging growth companies, including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. In addition, even if the Company complies with the greater obligations of public companies that are not emerging growth companies, the Company may avail itself of the reduced requirements applicable to emerging growth companies from time to time in the future, so long as the Company is an emerging growth company. The Company will continue to be an emerging growth company until the earliest to occur of: (1) the end of the fiscal year following the fifth anniversary of the date of the first sale of common equity securities under the Company’s Registration Statement on Form S-1, which was declared effective by the U.S. Securities and Exchange Commission, or SEC, on September 12, 2019; (2) the last day of the fiscal year in which the Company has $1.07 billion or more in annual revenues; (3) the date on which the Company is deemed to be a “large accelerated filer” under the Securities Exchange Act of 1934, as amended, or the Exchange Act; or (4) the date on which the Company has, during the previous three-year period, issued publicly or privately, more than $1.0 billion in non-convertible debt securities. Management cannot predict if investors will find the Company’s common stock less attractive because it will rely on the exemptions available to emerging growth companies. If some investors find the Company’s common stock less attractive as a result, there may be a less active trading market for its common stock and the Company’s stock price may be more volatile. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933 for complying with new or revised accounting standards. As an emerging growth company, the Company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company elected to take advantage of the benefits of this extended transition period. Concentrations of Credit Risk Substantially all of the Company’s lending activities are with clients located within North Dakota, Minnesota, and Arizona. At December 31, 2021 and 2020 respectively, 24.8% and 35.0% of the Company’s loan portfolio consisted of commercial and industrial loans that were not secured by real estate. The Company does not have any significant loan concentrations in any one industry or with any one client. Note 6 discusses the Company’s loan portfolio. The Company invests in a variety of investment securities and does not have any significant concentrations in any one industry or to any one issuer. Note 5 discusses the Company’s investment securities portfolio. Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, cash and due from banks includes cash and cash equivalents, balances due from banks, and federal funds sold, all of which have an original maturity within 90 days. Cash flows from loans and deposits are reported net. Interest-bearing deposits in banks are carried at cost. Investment Securities Debt securities that are held for short-term resale are classified as trading securities and carried at estimated fair value, with increases and decreases in estimated fair value recognized in net gains (losses) on investment securities within the statements of income. Other marketable securities are classified as available-for-sale and are carried at estimated fair value. Realized gains (losses) on investment securities available-for-sale are included in net gains (losses) on investment securities and, when applicable, are reported as a reclassification adjustment, net of tax, in other comprehensive income. Gains (losses) on sales of investment securities are determined using the specific identification method on the trade date. The amortization of premiums and accretion of discounts are recognized in interest income using methods approximating the interest method over the period to maturity. Declines in the estimated fair value of individual available-for-sale investment securities below their cost that are other than temporary, result in write-downs of the individual investment securities to their estimated fair value. The Company monitors the investment security portfolio for impairment on an individual security basis and has a process in place to identify investment securities that could potentially have a credit impairment that is other than temporary. This process involves analyzing the length of time and the extent to which the estimated fair value has been less than the amortized cost basis, the market liquidity for the security, the financial condition and near-term prospects of the issuer, expected cash flows, and the Company’s intent and ability to hold the investment for a period of time sufficient to recover the temporary loss. The ability to hold is determined by whether it is more likely than not that the Company will be required to sell the security before its anticipated recovery. A decline in value due to a credit event that is considered other than temporary is recorded as a loss in noninterest income. Held-to-maturity securities consist of debt securities, primarily obligations of state and political agencies. Held-to-maturity securities are carried at amortized cost based on the Company’s intent and ability to hold these securities to maturity. Interest earned on held-to-maturity debt securities is included in interest income. Amortization or accretion of premiums and discounts is also recognized in interest income using the effective interest method over the contractual life of the security and is adjusted to reflect actual prepayments. Transfers of debt securities from available-for-sale to held-to-maturity are made at fair value at the date of transfer. Unrealized holding gains and losses at the date of transfer are included in other comprehensive income and in the carrying value of held-to-maturity security are amortized over the remaining life of the security. Equity investments for which readily determinable values are unavailable are carried at cost in other assets on the consolidated balance sheet. Nonmarketable Equity Securities Nonmarketable equity securities include the Bank’s required investments in the stock of the Federal Home Loan Bank of Des Moines, or the FHLB and the Federal Reserve Bank, or the FRB. The Bank is a member of the FHLB as well as its regional FRB. Members are required to own a certain amount of stock based of the level of borrowing and other factors, and may invest in additional amounts. FHLB stock and FRB stock are carried at cost, classified as other assets, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. Loans Held for Sale/Branch Sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by charges to income. Gains (losses) on loan sales are recorded in mortgage banking revenue on the consolidated statements of income. Loans Loans are stated at the amount of unpaid principal, reduced by an allowance for loan losses. Loans that management has the intent and ability to hold for the foreseeable future, until maturity or pay-off, generally are reported at their outstanding unpaid principal balances adjusted for charge-offs, and the allowance for loan losses. Loan fees received that are associated with originating or acquiring certain loans are deferred, net of costs, and amortized over the life of the loan as a yield adjustment to interest income. The accrual of interest on loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Consumer loans are typically charged-off no later than 120 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest in considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual or charged-off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Allowance for Loan Losses The allowance for loan losses (allowance) is an estimate of loan losses inherent in the Company’s loan portfolio. The allowance is established through a provision for loan losses which is charged to expense. Additions to the allowance are expected to maintain the adequacy of the total allowance after loan losses and loan growth. Loan losses are charged-off against the allowance when the Company determines the loan balance to be uncollectible. Cash received on previously charged-off amounts is recorded as a recovery to the allowance. The allowance consists of three primary components, general reserves, specific reserves related to impaired loans, and unallocated reserves. The general component covers non-impaired loans and is based on historical losses adjusted for current qualitative factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent five years. This actual loss experience is adjusted for economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. These factors are inherently subjective and are driven by the repayment risk associated with each portfolio segment. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Loans determined to be impaired are individually evaluated for impairment. When a loan is impaired, the Company measures impairment based on the present value of expected future cash flows discounted at the original contractual interest rate, except that as a practical expedient, it may measure impairment based on an observable market price for the estimated fair value of the collateral if collateral dependent. A loan is collateral dependent if the repayment is expected to be provided solely by the underlying collateral. Allowance allocations other than general and specific are included in the unallocated portion. While allocations are made for loans based upon historical loss analysis, the unallocated portion is designed to cover the uncertainty of how current economic conditions and other uncertainties may impact the existing loan portfolio. Factors to consider include national and state economic conditions such as unemployment or real estate lending values. The unallocated reserve addresses inherent probable losses not included elsewhere in the allowance for loan losses. The Company maintains a separate general valuation allowance for each portfolio segment. These portfolio segments include commercial and industrial, real estate construction, commercial real estate, residential real estate first mortgage, residential real estate junior liens, and other revolving and installment with risk characteristics described as follows: Commercial and Industrial: Real Estate Construction: Commercial Real Estate: Residential real estate first and junior liens: Other Revolving and Installment: Although management believes the allowance to be adequate, actual losses may vary from its estimates. On a quarterly basis, management reviews the adequacy of the allowance, including consideration of the relevant risks in the portfolio, current economic conditions, and other factors. If the board of directors and management determine that changes are warranted based on those reviews, the allowance is adjusted. Off-Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Company enters into commitments to extend credit, including commitments under credit arrangements, commercial letters of credit, and standby letters of credit. Such financial instruments are recorded when they are funded. The Company establishes a reserve for unfunded commitments using historical loss data and utilization assumptions. This reserve is located under accrued expenses and other liabilities on the Consolidated Balance Sheets. Land, Premises and Equipment, Net Land is carried at cost. Other premises and equipment are carried at cost net of accumulated depreciation. Depreciation is computed on a straight-line method based principally on the estimated useful lives of the assets. Maintenance and repairs are expensed as incurred while major additions and improvements are capitalized. Gains (losses) on dispositions are included in current operations. Bank-Owned Life Insurance The Company has purchased life insurance policies on certain key executives. Bank-owned life insurance is recorded at its cash surrender value, or the amount that can be realized, if lower. Goodwill and Other Intangibles, Net Goodwill resulting from acquisitions is not amortized, but is tested for impairment annually. As part of its testing, the Company first assesses the qualitative factors to determine whether it is more likely than not that the estimated fair value of a reporting unit is less than its carrying amount. If the Company determines the estimated fair value of a reporting unit is less than its carrying amount using these qualitative factors, the Company then compares the estimated fair value of the goodwill with its carrying amount, and then measures impairment loss by comparing the estimated fair value of goodwill with the carrying amount of that goodwill. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. At December 31, 2021, the Company believes it did not have any indications of potential impairment based on the estimated fair value of the reporting units. Intangible assets determined to have definite lives are amortized over the remaining useful lives. Intangible and other long-lived assets are reviewed for impairment whenever events occur or circumstances indicate that the carrying amount may not be recoverable. Servicing Rights Servicing rights are recognized as separate assets when rights are acquired through the sale of loans. Servicing rights are initially recorded at estimated fair value based on assumptions provided by a third-party valuation service. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as servicing cost per loan, the discount rate, the escrow float rate, an inflation rate, ancillary income, prepayment speeds, and default rates and losses. Loan servicing income is recorded on the accrual basis and includes servicing fees from investors and certain charges collected from borrowers, such as late payment fees, and is net of estimated fair value adjustments to capitalized mortgage servicing rights. Capitalized servicing rights are amortized into noninterest income in proportion to, and over the period of, the estimated future servicing income of the underlying loans. Servicing rights are evaluated for impairment based upon the estimated fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights by predominant characteristics, such as interest rates and terms. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that estimated fair value is less than the capitalized amount for the tranche. If the Company later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may be recorded as an increase to income. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. The amortization of servicing rights is netted against loan servicing fee income. Impairment of Long-Lived Assets The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. In the event such an asset is considered impaired, the impairment to be recognized is measured by the amount by which the carrying value of the asset exceeds the estimated fair value of the asset. Assets to be disposed of are reported at the lower of the carrying value of estimated fair value less estimated costs to sell. Foreclosed Assets Assets acquired through loan foreclosure are included in other assets and are initially recorded at estimated fair value less estimated selling costs. The estimated fair value of foreclosed assets is evaluated regularly and any decreases in value along with holding costs, such as taxes, insurance and utilities, are reported in noninterest expense. Transfers of Financial Assets and Participating Interests Transfers of financial assets are accounted for as sales when control over assets has been surrendered or in the case of loan participation, a portion of the asset has been surrendered and meets the definition of a “participating interest.” Control over transferred assets is deemed to be surrendered when 1) the assets have been isolated from the Company, 2) the transferee obtains the rights to pledge or exchange the transferred assets, and 3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Should the transfer not meet these three criteria, the transaction is treated as a secured financing. Loans serviced for others are not included in the accompanying consolidated balance sheets. Servicing loans for others generally consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors and collection and foreclosure processing. Derivatives and Hedging Activities In the ordinary course of business, the Company enters into derivative transactions to manage various risks and to accommodate the business requirements of its clients. Derivative instruments are reported in other assets or other liabilities at estimated fair value. Changes in a derivative’s estimated fair value are recognized currently in earnings unless specific hedge accounting criteria are met. Noninterest Income Specific guidelines are established for recognition of certain noninterest income components related to the Company’s consolidated financial statements. In accordance with Topic 606, revenues are recognized when control of promised goods or services is transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of Topic 606, the Company performs the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of Topic 606, the Company assesses the goods or services that are promised within each contract and identifies those that contain performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. The material groups of noninterest income that this methodology is applied to are defined as follows: Retirement and benefit services: Wealth management: Service charges on deposit accounts: Other noninterest income: Advertising Costs Advertising costs are expensed as incurred. Tax Credit Investments The Company invests in qualified affordable housing projects for the purpose of community reinvestment and obtaining tax credits. These investments are included in other assets on the balance sheet, and any unfunded commitments in accrued expenses and other liabilities on the balance sheet. The qualified affordable housing projects are accounted for under the proportional amortization method. Under the proportional amortization method, the initial cost of the investment is recognized over the period that the Company expects to receive the tax credits, with the expense included within income tax expense on the consolidated statements of income. Management analyzes these investments for potential impairment when events or changes in circumstances indicate that it is more likely than not that the carrying amount of the investment will not be realized. An impairment loss is measured as the amount by which the carrying amount of an investment exceeds its fair value. Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance would be recognized if it is “more likely than not” that the deferred tax asset would not be realized. These calculations are based on many complex factors including estimates of the timing of reversals of temporary differences, the interpretation of federal and state income tax laws, and a determination of the differences between the tax and the financial reporting basis of assets and liabilities. Actual results could differ significantly from the estimates and interpretations used in determining the current and deferred income tax liabilities. The Company follows standards related to Accounting for Uncertainty in Income Taxes. These rules establish a higher standard for tax benefits to meet before they can be recognized in a Company’s consolidated financial statements. The Company can recognize in financial statements the impact of a tax position taken, or expected to be taken, if it is more likely than not that the position will be sustained on an audit based on the technical merit of the position. See Note 20 (Income Taxes) for additional disclosures. The Company recognizes both interest and penalties as components of other operating expenses. The amount of the uncertain tax position was not determined to be material. It is not expected that the unrecognized tax benefit will be material within the next 12 months. The Company did not incur any interest or penalties in 2021, 2020, or 2019. The Company files consolidated federal and state income tax returns. The Company is no longer subject to U.S. federal or state tax examinations by tax authorities for years before 2018. Comprehensive Income Recognized revenue, expenses, gains, and losses are included in net income. Certain changes in assets and liabilities, such as unrealized gains (losses) on investment securities available-for-sale, are reported as a separate component of the equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income. Stock Compensation Plans Stock compensation accounting guidance requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. The cost will be measured based on the grant date estimated fair value of the equity or liability instruments issued. The grant date estimated fair value is determined using the closing price of the Company’s common stock. The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employee’s service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. Earnings per Share Earnings per share are calculated utilizing the two-class method. Basic earnings per share is calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted-average number of common shares outstanding. Diluted earnings per share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted-average number of shares adjusted for the dilutive effect of common stock awards.

New Accounting Pronouncements

New Accounting Pronouncements	12 Months Ended
	Dec. 31, 2021
New Accounting Pronouncements
New Accounting Pronouncements	NOTE 2 New Accounting Pronouncements The following Financial Accounting Standards Board, or FASB, Accounting Standards Updates, or ASUs are divided into pronouncements which have been adopted by the Company since January 1, 2021, and those which are not yet effective and have been evaluated or are currently being evaluated by management, as of December 31, 2021. Adopted Pronouncements In August 2018, the FASB issued ASU No. 2018-15, Intangibles – Goodwill and Other – Internal Use Software (Subtopic 350-40) – Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by these amendments. ASU 2018-15 was effective for the Company on January 1, 2020 and did not have an impact on the Company’s consolidated financial statements. In January 2020, the FASB issued ASU No. 2020-01, Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) – Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. The ASU is based on a consensus of the Emerging Issues Task Force and is expected to increase comparability in accounting for these transactions. ASU 2016-01 made targeted improvements to accounting for financial instruments, including providing an entity the ability to measure certain equity securities without a readily determinable fair value at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Among other topics, the amendments clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting. For public business entities, the amendments in the ASU are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. The Company adopted ASU 2020-01 as of January 1, 2021 and the implementation had no impact on its consolidated financial statements. In August 2021, the FASB issued ASU No. 2021-06, Presentation of Financial Statements (Topic 205), Financial Services – Depository and Lending (Topic 942), and Financial Services – Investment Companies (Topic 946) to provide amendments to SEC paragraphs pursuant to SEC Final Rule Releases No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Business, and No. 33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants. It was effective upon issuance. The amendments did not have an impact on the Company’s consolidated financial statements. Pronouncements Not Yet Effective In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU requires a new impairment model known as the current expected credit loss, or CECL which significantly changes the way impairment of financial instruments is recognized by requiring immediate recognition of estimated credit losses expected to occur over the remaining life of financial instruments. The main provisions of ASU 2016-13 include (1) replacing the “incurred cost” approach under GAAP with an “expected loss” model for instruments measured at amortized cost, (2) requiring entities to record an allowance for credit losses related to available-for-sale debt securities rather than a direct write-down of the carrying amount of the investments, as is required by the other-than-temporary impairment model under current GAAP, and (3) a simplified accounting model for purchase credit-impaired debt securities and loans. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments – Credit Losses (Topic 326). This update amends the effective date of ASU No. 2016-13 for certain entities, including private companies and smaller reporting companies, until fiscal years beginning after December 15, 2022, including interim periods within those fiscal periods. Early adoption is permitted. As an emerging growth company, the Company can take advantage of this delay and plans to adopt the standard with the amended effective date. The Company does not plan to early adopt this standard but continues to work on its implementation. The Company continues collecting and retaining loan and credit data and evaluating various loss estimation models. While we currently cannot reasonably estimate the impact of adopting this standard, we expect the impact will be influenced by the composition, characteristics, and quality of our loan portfolio, as well as the general economic conditions and forecasts as of the adoption date. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments, which affects a variety of topics in the Codification and applies to all reporting entities within the scope of the affected accounting guidance. This update is not expected to have a significant impact on the Company’s consolidated financial statements. In May 2019, the FASB issued ASU No. 2019-05, Targeted Transition Relief to provide entities with an option to irrevocably elect the fair value option applied on an instrument-by-instrument basis for eligible instruments. In November 2019, the FASB issued ASU 2019-10, which amends the effective date of this ASU for certain entities, including private companies and smaller reporting companies until after December 15, 2022, including interim periods within those fiscal years. As an emerging growth company, the Company can take advantage of this delay and plans to adopt the standard with the amended effective date. This update is not expected to have a significant impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740), which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 by clarifying and amending existing guidance. This guidance is effective for fiscal years, and interim periods within those fiscal years beginning after and interim periods within those fiscal years beginning after December 15, 2020, for public business entities. For private companies and smaller reporting companies, this guidance is effective for fiscal years, and interim periods within those fiscal years beginning after December 15, 2021. As an emerging growth company, the Company can take advantage of this later effective date. Early adoption of the amendments is permitted including adoption in any interim period for which financial statements have not yet been issued. Depending on the amendment, adoption may be applied on the retrospective, modified retrospective, or prospective basis. The Company does not expect adoption of this guidance to have a material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments. This ASU represents changes to clarify or improve the Accounting Standards Codification, or ASU, related to seven topics. The amendments make the ASC easier to understand and easier to apply by eliminating inconsistencies and providing clarifications. Issues 1, 2, 3, 4 and 5 are conforming amendments and for public business entities effective upon the issuance of the standard. Issues 6 and 7 are amendments that affect the guidance in ASU 2016-13. The Company will consider these clarifications and improvements in determining the appropriate adoption of ASU 2016-13. In October 2020, the FASB issued ASU No. 2020-10, Codification Improvements removing Section A which included issues 1-16 because the issues in that section will be addressed in a separate ASU. The Company will not be affected by ASU 2020-03 for any remaining sections and will continue to review new standards as they are issued. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. These amendments provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022. In January 2021, the FASB issue ASU 2021-01. Reference Rate Reform (Topic 848) in response to concerns about structural risks in accounting for reference rate reform. The ASU clarifies certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that affected by the discontinuing transition. The Company is assessing both of the ASU’s and their impact on the Company’s transition away from LIBOR for its loan and other financial instruments. ​

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2021
Business Combinations
Business Combinations	NOTE 3 Business Combinations On December 18, 2020, the Company acquired Retirement Planning Services, Inc, or RPS, located in Littleton, Colorado for a total purchase price of $13.4 million, which included cash consideration of $9.8 million and an earn out liability of $3.6 million. As part of the transaction, $11.5 million was allocated to an identified customer intangible and $2.9 million to goodwill. The purchase consisted of approximately 1,000 retirement and health benefit administration plans, with more than 48,000 plan participants, 300 COBRA clients, and 10,000 COBRA members and $1.3 billion in assets under administration/management. The purchased assets and assumed liabilities were recorded at their respective acquisition date estimate fair values indicated in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As recorded by ​ Fair Value ​ As recorded by (dollars in thousands) RPS Adjustments the Company Assets ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 513 ​ $ — ​ $ 513 Land premises and equipment, net ​ ​ 16 ​ ​ (16) ​ ​ — Other intangible assets ​ ​ 99 ​ ​ 11,390 ​ ​ 11,489 Other assets ​ ​ 304 ​ ​ (38) ​ ​ 266 Total assets ​ ​ 932 ​ ​ 11,336 ​ ​ 12,268 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ Other liabilities ​ ​ 1,418 ​ ​ 3,930 ​ ​ 5,348 Total liabilities ​ ​ 1,418 ​ ​ 3,930 ​ ​ 5,348 Excess assets over liabilities ​ $ (486) ​ $ 7,406 ​ ​ 6,920 Cash paid for RPS ​ ​ ​ ​ ​ ​ ​ ​ 9,792 Total goodwill recorded ​ ​ ​ ​ ​ ​ ​ $ 2,872 ​

Restrictions on Cash and Due fr

Restrictions on Cash and Due from Banks	12 Months Ended
	Dec. 31, 2021
Restrictions on Cash and Due from Banks
Restrictions on Cash and Due from Banks	NOTE 4 Restrictions on Cash and Due from Banks Banking regulators require bank subsidiaries to maintain minimum average reserve balances, either in the form of vault cash or reserve balances held with central banks or other financial institutions. There was no amount of required reserve balances at December 31, 2021 and 2020. In addition to vault cash, the Company held balances at the Federal Reserve Bank and other financial institutions of $224.4 million and $145.6 million at December 31, 2021 and 2020, respectively, to meet these requirements. The balances are included in cash and cash equivalents on the Consolidated Balance Sheets.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2021
Investment Securities
Investment Securities	NOTE 5 Investment Securities The following tables present amortized cost, gross unrealized gains and losses, and fair value of the available-for-sale investment securities and the amortized cost, net unrealized gains, carrying value, gross unrealized gains and losses of held-to-maturity investment as of December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (dollars in thousands) Cost ​ Gains ​ Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ 5,028 ​ $ 75 ​ $ — ​ $ 5,103 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 717,781 ​ 1,213 ​ (11,837) ​ 707,157 Commercial ​ 88,362 ​ 2,674 ​ (123) ​ 90,913 Asset backed securities ​ 52 ​ 2 ​ — ​ 54 Corporate bonds ​ 49,035 ​ 1,398 ​ (11) ​ 50,422 Total available-for-sale investment securities ​ ​ 860,258 ​ ​ 5,362 ​ ​ (11,971) ​ ​ 853,649 Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ ​ 144,543 ​ 1,110 ​ (349) ​ 145,304 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ 207,518 ​ — ​ (3,145) ​ 204,373 Total held-to-maturity investment securities ​ ​ 352,061 ​ ​ 1,110 ​ ​ (3,494) ​ ​ 349,677 Total investment securities ​ $ 1,212,319 ​ $ 6,472 ​ $ (15,465) ​ $ 1,203,326 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (dollars in thousands) Cost ​ Gains ​ Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ 5,926 ​ $ — ​ $ (19) ​ $ 5,907 Obligations of state and political agencies ​ 148,491 ​ 5,282 ​ — ​ 153,773 Mortgage backed securities ​ ​ ​ ​ ​ ​ Residential agency ​ 303,760 ​ 3,395 ​ (436) ​ 306,719 Commercial ​ 89,300 ​ 5,678 ​ — ​ 94,978 Asset backed securities ​ 109 ​ 6 ​ — ​ 115 Corporate bonds ​ 30,552 ​ 388 ​ (90) ​ 30,850 Total available-for-sale investment securities ​ $ 578,138 ​ $ 14,749 ​ $ (545) ​ $ 592,342 ​ On April 1, 2021, the Company transferred its state and political agencies debt securities portfolio, with a fair value of $149.2 million and a net unrealized gain of $1.3 million, from available-for-sale to held-to-maturity. The amortized cost and estimated fair value of investment securities at December 31, 2021, by contractual maturity are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity ​ Available-for-sale ​ ​ Carrying ​ Fair ​ Amortized ​ Fair (dollars in thousands) Value ​ Value ​ Cost Value Due within one year or less ​ $ 4,819 ​ $ 4,817 ​ $ 2 ​ $ 2 Due after one year through five years ​ 34,896 ​ 34,769 ​ 2,809 ​ 2,883 Due after five years through ten years ​ 74,002 ​ 74,581 ​ 96,263 ​ 99,243 Due after 10 years ​ 238,344 ​ 235,510 ​ 761,184 ​ 751,521 Total investment securities ​ $ 352,061 ​ $ 349,677 ​ $ 860,258 ​ $ 853,649 ​ Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Investment securities with a total carrying value of $192.8 million and $160.8 million, were pledged at December 31, 2021 and 2020, respectively, to secure public deposits and for other purposes required or permitted by law. Proceeds from the sale of available-for-sale securities for the years ended December 31, 2021, 2020, and 2019 are displayed in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2021 2020 2019 Proceeds ​ $ 13,189 ​ $ 75,647 ​ $ 32,565 Realized gains ​ 114 ​ 2,737 ​ ​ 357 Realized losses ​ — ​ — ​ ​ (22) ​ Information pertaining to investment securities with gross unrealized losses that are not deemed to be other-than-temporarily impaired at December 31, 2021 and 2020 aggregated by investment category and length of time that individual investment securities have been in a continuous loss position, follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Less than 12 Months ​ Over 12 Months ​ Total ​ ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair (dollars in thousands) Losses Value Losses Value Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Mortgage backed securities ​ ​ ​ ​ ​ ​ Residential agency ​ (10,156) ​ 554,811 ​ (1,681) ​ 55,082 ​ (11,837) ​ 609,893 Commercial ​ (123) ​ 17,470 ​ — ​ — ​ (123) ​ 17,470 Asset backed securities ​ — ​ — ​ — ​ 2 ​ — ​ 2 Corporate bonds ​ (11) ​ 5,989 ​ — ​ — ​ (11) ​ 5,989 Total available-for-sale investment securities ​ ​ (10,290) ​ ​ 578,270 ​ ​ (1,681) ​ ​ 55,084 ​ ​ (11,971) ​ ​ 633,354 Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ ​ (349) ​ ​ 53,210 ​ ​ — ​ ​ — ​ ​ (349) ​ ​ 53,210 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ (3,145) ​ ​ 204,373 ​ ​ — ​ ​ — ​ ​ (3,145) ​ ​ 204,373 Total held-to-maturity investment securities ​ ​ (3,494) ​ ​ 257,583 ​ ​ — ​ ​ — ​ ​ (3,494) ​ ​ 257,583 Total investment securities ​ $ (13,784) ​ $ 835,853 ​ $ (1,681) ​ $ 55,084 ​ $ (15,465) ​ $ 890,937 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Less than 12 Months ​ Over 12 Months ​ Total ​ ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair (dollars in thousands) Losses Value Losses Value Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ (10) ​ $ 4,509 ​ $ (9) ​ $ 1,309 ​ $ (19) ​ $ 5,818 Obligations of state and political agencies ​ — ​ — ​ — ​ — ​ — ​ — Mortgage backed securities ​ ​ ​ ​ ​ ​ Residential agency ​ (432) ​ 68,494 ​ (4) ​ 2,356 ​ (436) ​ 70,850 Commercial ​ — ​ — ​ — ​ — ​ — ​ — Asset backed securities ​ — ​ — ​ — ​ 2 ​ — ​ 2 Corporate bonds ​ (90) ​ 16,454 ​ — ​ — ​ (90) ​ 16,454 Total available-for-sale investment securities ​ $ (532) ​ $ 89,457 ​ $ (13) ​ $ 3,667 ​ $ (545) ​ $ 93,124 ​ For all of the above investment securities, the unrealized losses were generally due to changes in interest rates and unrealized losses are considered to be temporary as the fair value is expected to recover as the securities approach maturity. The Company evaluates securities for other-than-temporary impairment, or OTTI, on a quarterly basis, at a minimum, and more frequently when economic or market concerns warrant such evaluation. In estimating OTTI losses, consideration is given to the severity and duration of the impairment; the financial condition and near-term prospects of the issuer, which for debt securities, considers external credit ratings and recent downgrades and the intent and ability of the Company to hold the security for a period of time sufficient for a recovery in value. For the years ended December 31, 2021 and 2020, the Company did not believe any OTTI existed and therefore did not recognize any OTTI losses on its investment securities. As of December 31, 2021 and 2020, the carrying value of the Company’s Federal Reserve Bank stock and FHLB stock was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Federal Reserve ​ $ 2,675 ​ $ 2,675 FHLB ​ 3,806 ​ 3,090 ​ These securities can only be redeemed or sold at their par value and only to the respective issuing institution or to another member institution. Management considers these non-marketable equity securities to be long-term investments. Accordingly, when evaluating these securities for impairment, management considers the ultimate recoverability of the par value rather than recognizing temporary declines in value. Visa Class B Restricted Shares In 2008, the Company received Visa Class B restricted shares as part of Visa’s initial public offering. These shares are transferable only under limited circumstances until they can be converted into the publicly traded Class A common shares. This conversion will not occur until the settlement of certain litigation which will be indemnified by Visa members, including the Company. Visa funded an escrow account from its initial public offering to settle these litigation claims. Should this escrow account be insufficient to cover these litigation claims, Visa is entitled to fund additional amounts to the escrow account by reducing each member bank’s Class B conversion ratio to unrestricted Class A shares. As of December 31, 2021, the conversion ratio was 1.6181. Based on the existing transfer restriction and the uncertainty of the outcome of the Visa litigation mentioned above, the 6,924 Class B shares (11,204 Class A equivalents) that the Company owned as of December 31, 2021 and 2020, were carried at a zero cost basis.

Loans and Allowance for Loan Lo

Loans and Allowance for Loan Losses	12 Months Ended
	Dec. 31, 2021
Loans and Allowance for Loan Losses
Loans and Allowance for Loan Losses	NOTE 6 Loans and Allowance for Loan Losses The following table presents total loans outstanding, by portfolio segment, as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) 2021 2020 Commercial ​ ​ ​ ​ ​ ​ Commercial and industrial (1) ​ $ 436,761 ​ $ 691,858 Real estate construction ​ 40,619 ​ 44,451 Commercial real estate ​ 598,893 ​ 563,007 Total commercial ​ 1,076,273 ​ 1,299,316 Consumer ​ ​ Residential real estate first mortgage ​ 510,716 ​ 463,370 Residential real estate junior lien ​ 125,668 ​ 143,416 Other revolving and installment ​ 45,363 ​ 73,273 Total consumer ​ 681,747 ​ 680,059 Total loans ​ $ 1,758,020 ​ $ 1,979,375 (1) Includes PPP loans of $33.6 million at December 31, 2021 and $268.4 million at December 31, 2020. ​ Total loans include net deferred loan fees and costs of $231 thousand and $4.7 million at December 31, 2021 and 2020, respectively. Management monitors the credit quality of its loan portfolio on an ongoing basis. Measurement of delinquency and past due status are based on the contractual terms of each loan. Past due loans are reviewed regularly to identify loans for nonaccrual status. The following tables present past due aging analysis of total loans outstanding, by portfolio segment, as of December 31, 2021 and 2020, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ ​ ​ Accruing ​ 30 - 89 Days ​ or More ​ ​ ​ ​ Total (dollars in thousands) Current Past Due Past Due Nonaccrual Loans Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 435,135 ​ $ 168 ​ $ 121 ​ $ 1,337 ​ $ 436,761 Real estate construction ​ 40,619 ​ — ​ — ​ — ​ 40,619 Commercial real estate ​ 598,264 ​ — ​ — ​ 629 ​ 598,893 Total commercial ​ 1,074,018 ​ 168 ​ 121 ​ 1,966 ​ 1,076,273 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 508,925 ​ 1,770 ​ — ​ 21 ​ 510,716 Residential real estate junior lien ​ 125,412 ​ 167 ​ — ​ 89 ​ 125,668 Other revolving and installment ​ 45,242 ​ 121 ​ — ​ — ​ 45,363 Total consumer ​ 679,579 ​ 2,058 ​ — ​ 110 ​ 681,747 Total loans ​ $ 1,753,597 ​ $ 2,226 ​ $ 121 ​ $ 2,076 ​ $ 1,758,020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ ​ ​ Accruing ​ 30 - 89 Days ​ or More ​ ​ ​ ​ Total (dollars in thousands) Current Past Due Past Due Nonaccrual Loans Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 689,340 ​ $ 500 ​ $ 30 ​ $ 1,988 ​ $ 691,858 Real estate construction ​ 44,451 ​ — ​ — ​ — ​ 44,451 Commercial real estate ​ 558,127 ​ 2,449 ​ — ​ 2,431 ​ 563,007 Total commercial ​ 1,291,918 ​ 2,949 ​ 30 ​ 4,419 ​ 1,299,316 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 461,179 ​ 1,752 ​ — ​ 439 ​ 463,370 Residential real estate junior lien ​ 143,060 ​ 191 ​ — ​ 165 ​ 143,416 Other revolving and installment ​ 73,128 ​ 118 ​ — ​ 27 ​ 73,273 Total consumer ​ 677,367 ​ 2,061 ​ — ​ 631 ​ 680,059 Total loans ​ $ 1,969,285 ​ $ 5,010 ​ $ 30 ​ $ 5,050 ​ $ 1,979,375 ​ Interest income foregone on nonaccrual loans approximated $0.3 million, $0.5 million, and $0.4 million for the years ended December 31, 2021, 2020, and 2019, respectively. The Company’s consumer loan portfolio is primarily comprised of both secured and unsecured loans that are relatively small and are evaluated at origination on a centralized basis against standardized underwriting criteria. The Company generally does not risk rate consumer loans unless a default event such as bankruptcy or extended nonperformance takes place. Credit quality for the consumer loan portfolio is measured by delinquency rates, nonaccrual amounts, and actual losses incurred. The Company assigns a risk rating to all commercial loans, except pools of homogeneous loans, and periodically performs detailed internal and external reviews of risk rated loans over a certain threshold to identify credit risks and to assess the overall collectability of the portfolio. These risk ratings are also subject to examination by the Company’s regulators. During the internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which the borrowers operate, and the estimated fair values of collateral securing the loans. These credit quality indicators are used to assign a risk rating to each individual loan. The Company’s ratings are aligned to pass and criticized categories. The criticized category includes special mention, substandard, and doubtful risk ratings. The risk ratings are defined as follows: Pass: Special Mention: Substandard: Doubtful: Loss: The tables below present total loans outstanding, by portfolio segment and risk category, as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Criticized ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) Pass Mention Substandard Doubtful Total Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 430,235 ​ $ 480 ​ $ 6,046 ​ $ — ​ $ 436,761 Real estate construction ​ 40,619 ​ — ​ — ​ — ​ 40,619 Commercial real estate ​ 585,291 ​ — ​ 13,602 ​ — ​ 598,893 Total commercial ​ ​ 1,056,145 ​ ​ 480 ​ ​ 19,648 ​ ​ — ​ ​ 1,076,273 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 510,375 ​ — ​ 341 ​ — ​ 510,716 Residential real estate junior lien ​ 124,898 ​ — ​ 770 ​ — ​ 125,668 Other revolving and installment ​ 45,363 ​ — ​ — ​ — ​ 45,363 Total consumer ​ 680,636 ​ — ​ 1,111 ​ — ​ 681,747 Total loans ​ $ 1,736,781 ​ $ 480 ​ $ 20,759 ​ $ — ​ $ 1,758,020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ Criticized ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) Pass Mention Substandard Doubtful Total Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 669,602 ​ $ 5,415 ​ $ 16,841 ​ $ — ​ $ 691,858 Real estate construction ​ 44,451 ​ — ​ — ​ — ​ 44,451 Commercial real estate ​ 533,733 ​ 6,686 ​ 22,588 ​ — ​ 563,007 Total commercial ​ ​ 1,247,786 ​ ​ 12,101 ​ ​ 39,429 ​ ​ — ​ ​ 1,299,316 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 461,221 ​ 1,406 ​ 743 ​ — ​ 463,370 Residential real estate junior lien ​ 140,461 ​ 1,819 ​ 1,136 ​ — ​ 143,416 Other revolving and installment ​ 73,236 ​ — ​ 37 ​ — ​ 73,273 Total consumer ​ 674,918 ​ 3,225 ​ 1,916 ​ — ​ 680,059 Total loans ​ $ 1,922,704 ​ $ 15,326 ​ $ 41,345 ​ $ — ​ $ 1,979,375 ​ The adequacy of the allowance for loan losses is assessed at the end of each quarter. The allowance for loan losses includes a specific component related to loans that are individually evaluated for impairment and a general component related to loans that are segregated into homogeneous pool and collectively evaluated for impairment. The factors applied to these pools are an estimate of probable incurred losses based on management’s evaluation of historical net losses from loans with similar characteristics, which are adjusted by management to reflect current events, trends, and conditions. The adjustments include consideration of the following: changes in lending policies and procedures, economic conditions, nature and volume of the portfolio, experience of lending management, volume and severity of past due loans, quality of the loan review system, value of underlying collateral for collateral dependent loans, concentrations, and other external factors. The following tables present, by loan portfolio segment, a summary of the changes in the allowance for loan losses for the three years ending December 31, 2021, 2020, and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ ​ Beginning ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance Loan Losses Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 10,205 ​ $ (1,710) ​ $ (1,230) ​ $ 1,660 ​ $ 8,925 Real estate construction ​ ​ 658 ​ ​ 125 ​ ​ — ​ ​ — ​ ​ 783 Commercial real estate ​ ​ 14,105 ​ ​ (2,015) ​ ​ (536) ​ ​ 822 ​ ​ 12,376 Total commercial ​ ​ 24,968 ​ ​ (3,600) ​ ​ (1,766) ​ ​ 2,482 ​ ​ 22,084 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 5,774 ​ ​ 758 ​ ​ — ​ ​ — ​ ​ 6,532 Residential real estate junior lien ​ ​ 1,373 ​ ​ (201) ​ ​ — ​ ​ 123 ​ ​ 1,295 Other revolving and installment ​ ​ 753 ​ ​ (259) ​ ​ (156) ​ ​ 143 ​ ​ 481 Total consumer ​ ​ 7,900 ​ ​ 298 ​ ​ (156) ​ ​ 266 ​ ​ 8,308 Unallocated ​ ​ 1,378 ​ ​ (198) ​ ​ — ​ ​ — ​ ​ 1,180 Total ​ $ 34,246 ​ $ (3,500) ​ $ (1,922) ​ $ 2,748 ​ $ 31,572 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2020 ​ ​ Beginning ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance Loan Losses Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 12,270 ​ $ (2,168) ​ $ (4,249) ​ $ 4,352 ​ $ 10,205 Real estate construction ​ 303 ​ 355 ​ — ​ — ​ 658 Commercial real estate ​ 6,688 ​ 8,185 ​ (865) ​ 97 ​ 14,105 Total commercial ​ 19,261 ​ 6,372 ​ (5,114) ​ 4,449 ​ 24,968 Consumer ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 1,448 ​ 4,321 ​ — ​ 5 ​ 5,774 Residential real estate junior lien ​ 671 ​ 507 ​ (12) ​ 207 ​ 1,373 Other revolving and installment ​ 352 ​ 514 ​ (242) ​ 129 ​ 753 Total consumer ​ 2,471 ​ 5,342 ​ (254) ​ 341 ​ 7,900 Unallocated ​ 2,192 ​ (814) ​ — ​ — ​ 1,378 Total ​ $ 23,924 ​ $ 10,900 ​ $ (5,368) ​ $ 4,790 ​ $ 34,246 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2019 ​ ​ Beginning ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance Loan Losses Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 12,127 ​ $ 5,213 ​ $ (6,540) ​ $ 1,470 ​ $ 12,270 Real estate construction ​ 250 ​ 51 ​ (1) ​ 3 ​ 303 Commercial real estate ​ 6,279 ​ 259 ​ — ​ 150 ​ 6,688 Total commercial ​ 18,656 ​ 5,523 ​ (6,541) ​ 1,623 ​ 19,261 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 1,156 ​ 292 ​ — ​ — ​ 1,448 Residential real estate junior lien ​ 805 ​ 99 ​ (465) ​ 232 ​ 671 Other revolving and installment ​ 380 ​ 383 ​ (572) ​ 161 ​ 352 Total consumer ​ 2,341 ​ 774 ​ (1,037) ​ 393 ​ 2,471 Unallocated ​ 1,177 ​ 1,015 ​ — ​ — ​ 2,192 Total ​ $ 22,174 ​ $ 7,312 ​ $ (7,578) ​ $ 2,016 ​ $ 23,924 ​ The following tables present the recorded investment in loans and related allowance for the loan losses, by portfolio segment, disaggregated on the basis of the Company’s impairment methodology, as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Recorded Investment ​ Allowance for Loan Losses ​ ​ Individually ​ Collectively ​ ​ ​ ​ Individually ​ Collectively ​ ​ ​ (dollars in thousands) Evaluated Evaluated Total Evaluated Evaluated Total Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 1,831 ​ $ 434,930 ​ $ 436,761 ​ $ 278 ​ $ 8,647 ​ $ 8,925 Real estate construction ​ — ​ 40,619 ​ 40,619 ​ ​ — ​ ​ 783 ​ ​ 783 Commercial real estate ​ 809 ​ 598,084 ​ 598,893 ​ ​ 5 ​ ​ 12,371 ​ ​ 12,376 Total commercial ​ 2,640 ​ 1,073,633 ​ 1,076,273 ​ ​ 283 ​ ​ 21,801 ​ ​ 22,084 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 21 ​ 510,695 ​ 510,716 ​ ​ — ​ ​ 6,532 ​ ​ 6,532 Residential real estate junior lien ​ 91 ​ 125,577 ​ 125,668 ​ ​ — ​ ​ 1,295 ​ ​ 1,295 Other revolving and installment ​ — ​ 45,363 ​ 45,363 ​ ​ — ​ ​ 481 ​ ​ 481 Total consumer ​ 112 ​ 681,635 ​ 681,747 ​ ​ — ​ ​ 8,308 ​ ​ 8,308 Unallocated ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,180 Total loans ​ $ 2,752 ​ $ 1,755,268 ​ $ 1,758,020 ​ $ 283 ​ $ 30,109 ​ $ 31,572 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Recorded Investment ​ Allowance for Loan Losses ​ ​ Individually ​ Collectively ​ ​ ​ ​ Individually ​ Collectively ​ ​ ​ (dollars in thousands) Evaluated Evaluated Total Evaluated Evaluated Total Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 2,616 ​ $ 689,242 ​ $ 691,858 ​ $ 336 ​ $ 9,869 ​ $ 10,205 Real estate construction ​ — ​ 44,451 ​ 44,451 ​ ​ — ​ ​ 658 ​ ​ 658 Commercial real estate ​ 5,224 ​ 557,783 ​ 563,007 ​ ​ 837 ​ ​ 13,268 ​ ​ 14,105 Total commercial ​ 7,840 ​ 1,291,476 ​ 1,299,316 ​ ​ 1,173 ​ ​ 23,795 ​ ​ 24,968 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 439 ​ 462,931 ​ 463,370 ​ ​ — ​ ​ 5,774 ​ ​ 5,774 Residential real estate junior lien ​ 224 ​ ​ 143,192 ​ 143,416 ​ ​ 19 ​ ​ 1,354 ​ ​ 1,373 Other revolving and installment ​ 27 ​ 73,246 ​ 73,273 ​ ​ 13 ​ ​ 740 ​ ​ 753 Total consumer ​ 690 ​ 679,369 ​ 680,059 ​ ​ 32 ​ ​ 7,868 ​ ​ 7,900 Unallocated ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,378 Total loans ​ $ 8,530 ​ $ 1,970,845 ​ $ 1,979,375 ​ $ 1,205 ​ $ 31,663 ​ $ 34,246 ​ The tables below summarize key information on impaired loans. These impaired loans may have estimated losses which are included in the allowance for loan losses. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 ​ ​ Recorded ​ Unpaid ​ Related Recorded ​ Unpaid ​ Related (dollars in thousands) Investment Principal Allowance Investment Principal Allowance Impaired loans with a valuation allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 445 ​ $ 464 ​ $ 278 ​ $ 723 ​ $ 725 ​ $ 336 Commercial real estate ​ 180 ​ 203 ​ 5 ​ 3,948 ​ 3,974 ​ 837 Residential real estate junior lien ​ — ​ — ​ ​ — ​ ​ 19 ​ 20 ​ ​ 19 Other revolving and installment ​ — ​ — ​ — ​ ​ 27 ​ 27 ​ 13 Total impaired loans with a valuation allowance ​ ​ 625 ​ ​ 667 ​ ​ 283 ​ ​ 4,717 ​ ​ 4,746 ​ ​ 1,205 Impaired loans without a valuation allowance ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 1,386 ​ ​ 1,575 ​ ​ — ​ ​ 1,893 ​ ​ 2,173 ​ ​ — Commercial real estate ​ 629 ​ ​ 684 ​ — ​ ​ 1,276 ​ 1,415 ​ — Residential real estate first mortgage ​ 21 ​ 24 ​ — ​ ​ 439 ​ 464 ​ — Residential real estate junior lien ​ 91 ​ 120 ​ — ​ ​ 205 ​ 306 ​ — Other revolving and installment ​ — ​ — ​ — ​ ​ — ​ — ​ — Total impaired loans without a valuation allowance ​ ​ 2,127 ​ ​ 2,403 ​ ​ — ​ ​ 3,813 ​ ​ 4,358 ​ ​ — Total impaired loans ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 1,831 ​ ​ 2,039 ​ ​ 278 ​ ​ 2,616 ​ ​ 2,898 ​ ​ 336 Commercial real estate ​ 809 ​ 887 ​ 5 ​ 5,224 ​ 5,389 ​ 837 Residential real estate first mortgage ​ ​ 21 ​ ​ 24 ​ ​ — ​ ​ 439 ​ ​ 464 ​ ​ — Residential real estate junior lien ​ 91 ​ 120 ​ — ​ 224 ​ 326 ​ 19 Other revolving and installment ​ — ​ — ​ — ​ 27 ​ 27 ​ 13 Total impaired loans ​ $ 2,752 ​ $ 3,070 ​ $ 283 ​ $ 8,530 ​ $ 9,104 ​ $ 1,205 ​ The table below presents the average recorded investment in impaired loans and interest income for the three years ending December 31, 2021, 2020, and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2021 ​ 2020 ​ 2019 ​ ​ Average ​ ​ ​ ​ Average ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Recorded ​ Interest ​ Recorded ​ Interest ​ Recorded ​ Interest (dollars in thousands) Investment Income Investment Income Investment Income Impaired loans with a valuation allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 517 ​ $ 13 ​ $ 765 ​ $ 14 ​ $ 839 ​ $ 16 Commercial real estate ​ 187 ​ 7 ​ 3,972 ​ 138 ​ ​ 5,891 ​ — Residential real estate junior lien ​ — ​ — ​ 19 ​ — ​ ​ — ​ — Other revolving and installment ​ — ​ — ​ 28 ​ — ​ ​ 20 ​ — Total impaired loans with a valuation allowance ​ ​ 704 ​ ​ 20 ​ ​ 4,784 ​ ​ 152 ​ ​ 6,750 ​ ​ 16 Impaired loans without a valuation allowance ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 1,988 ​ ​ 20 ​ ​ 4,151 ​ ​ 25 ​ ​ 2,434 ​ ​ 30 Commercial real estate ​ 672 ​ — ​ 1,614 ​ — ​ ​ 212 ​ 8 Residential real estate first mortgage ​ 23 ​ — ​ 461 ​ — ​ ​ 230 ​ — Residential real estate junior lien ​ 98 ​ — ​ 234 ​ ​ 3 ​ ​ 338 ​ ​ 4 Other revolving and installment ​ 1 ​ — ​ — ​ — ​ ​ 3 ​ — Total impaired loans without a valuation allowance ​ ​ 2,782 ​ ​ 20 ​ ​ 6,460 ​ ​ 28 ​ ​ 3,217 ​ ​ 42 Total impaired loans ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 2,505 ​ ​ 33 ​ ​ 4,916 ​ ​ 39 ​ ​ 3,273 ​ ​ 46 Commercial real estate ​ 859 ​ 7 ​ 5,586 ​ 138 ​ ​ 6,103 ​ 8 Residential real estate first mortgage ​ 23 ​ — ​ 461 ​ — ​ ​ 230 ​ — Residential real estate junior lien ​ 98 ​ — ​ 253 ​ 3 ​ ​ 338 ​ 4 Other revolving and installment ​ 1 ​ — ​ 28 ​ — ​ ​ 23 ​ — Total impaired loans ​ $ 3,486 ​ $ 40 ​ $ 11,244 ​ $ 180 ​ $ 9,967 ​ $ 58 ​ Loans with a carrying value of $1.2 billion and $1.2 billion were pledged at December 31, 2021 and 2020, respectively, to secure FHLB borrowings, public deposits, and for other purposes required or permitted by law. Under certain circumstances, the Company will provide borrowers relief through loan restructurings. A restructuring of debt constitutes a troubled debt restructuring, or TDR, if the Company, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider. TDR concessions can include reduction of interest rates, extension of maturity dates, forgiveness of principal or interest due, or acceptance of other assets in full or partial satisfaction of the debt. During the second quarter of 2021, there were three loans modified as a TDRs as a result of changing the terms allowing for interest rate reductions and an extension of the maturity dates. As of December 31, 2021, the carrying value of the restructured loans was $701 thousand. The loans are not currently performing in compliance with the modified terms and were placed on nonaccrual. There was no specific reserve for loan losses allocated to the loan modified as a TDR. As of December 31, 2021, the Company had entered into modifications on 588 loans representing $154.6 million in total principal balances, since the beginning of the COVID-19 pandemic. Of those loans, 6 loans with a total outstanding principal balance of $3.3 million, have been granted second deferrals, 2 loans with a total outstanding principal balance of $72 thousand remain on the first deferral and the remaining loans have been returned to a normal payment status. These deferrals were generally no more than 90 days in duration and were not considered TDRs in accordance with the Interagency Statement on Loan Modifications and Reporting for Financial Institutions as issued on April 7, 2020. During the fourth quarter of 2020, there was one loan modified as a TDR as a result of changing the terms allowing for interest only payments and smaller extensions. As of December 31, 2020, the carrying value of the restructured loan was $2.6 million. The loan is currently performing according to the modified terms and there was no specific reserve for loan losses allocated to the loan modified as a TDR. As an SBA-Certified Preferred lender, we were delegated the authority as part of the CARES Act to make PPP SBA-guaranteed financing available to eligible borrowers. As of December 31, 2021, we had assisted 2,454 new and existing clients secure approximately $474.2 million of PPP financing. The SBA pays a processing fee based on the balance of the financing outstanding at the time of final disbursement. The processing fees were as follows: five percent for loans of not more than $350 thousand, three percent for loans of more than $350 thousand and less than $2 million, and one percent for loans of at least $2 million. Net processing fees in the amount of $15.7 million were being deferred and recognized as interest income on a level yield method of the life of the represented loans. The Company does not have material commitments to lend additional funds to borrowers with loans whose terms have been modified in TDRs or whose loans are on nonaccrual.

Land, Premises and Equipment, N

Land, Premises and Equipment, Net	12 Months Ended
	Dec. 31, 2021
Land, Premises and Equipment, Net
Land, Premises and Equipment, Net	NOTE 7 Land, Premises and Equipment, Net Components of land, premises and equipment at December 31, 2021 and 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Land ​ $ 4,542 ​ $ 4,542 Buildings and improvements ​ 25,633 ​ 25,391 Finance lease ​ ​ 2,657 ​ ​ 2,657 Furniture, fixtures, and equipment ​ 35,063 ​ 33,598 ​ ​ 67,895 ​ 66,188 Less accumulated depreciation ​ (49,525) ​ (45,899) Total ​ $ 18,370 ​ $ 20,289 ​ Depreciation expense for the years ended December 31, 2021, 2020, and 2019 amounted to $3.6 million, $3.9 million, and $3.6 million, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2021
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	NOTE 8 Goodwill and Other Intangible Assets As of December 31, 2021 and 2020, goodwill totaled $31.5 million and $30.2 million, respectively. The following table summarizes the carrying amounts of goodwill, by segment, as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Banking ​ $ 20,131 ​ $ 20,131 Retirement and benefit services ​ ​ 11,359 ​ ​ 10,070 Total goodwill ​ $ 31,490 ​ $ 30,201 ​ The gross carrying amount and accumulated amortization for each type of identifiable intangible asset are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 (dollars in thousands) Gross Carrying Amount Accumulated Amortization Total Gross Carrying Amount Accumulated Amortization Total Identifiable customer intangibles ​ $ 42,057 ​ $ (21,807) ​ $ 20,250 ​ $ 43,346 ​ $ (17,490) ​ $ 25,856 Core deposit intangible assets ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,793 ​ ​ (3,730) ​ ​ 63 Total intangible assets ​ $ 42,057 ​ $ (21,807) ​ $ 20,250 ​ $ 47,139 ​ $ (21,220) ​ $ 25,919 ​ Aggregate amortization expense for the years ended December 31, 2021, 2020, and 2019 was $4.4 million, $4.0 million, and $4.1 million, respectively. Estimated aggregate amortization expense for future years is as follows: ​ ​ ​ ​ ​ (dollars in thousands) Amount 2022 ​ $ 4,212 2023 ​ ​ 4,212 2024 ​ ​ 3,959 2025 ​ ​ 2,820 2026 ​ ​ 1,010 Thereafter ​ ​ 4,037 Total ​ $ 20,250 ​

Loan Servicing

Loan Servicing	12 Months Ended
	Dec. 31, 2021
Loan Servicing
Loan Servicing	NOTE 9 Loan Servicing Loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of loans serviced for others totaled $345.8 million and $445.5 million at December 31, 2021 and 2020, respectively. Servicing loans for others generally consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors and collection and foreclosure processing. Loan servicing income is recorded on an accrual basis and includes servicing fees from investors and certain charges collected from borrowers, such as late payment fees, and is net of fair value adjustments to capitalized mortgage servicing rights. The following table summarizes the Company’s activity related to servicing rights for the years ended December 31, 2021, 2020, and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2021 2020 2019 Balance, beginning of period ​ $ 1,987 ​ $ 3,845 ​ $ 4,623 Additions ​ 225 ​ 178 ​ ​ 342 Amortization ​ (745) ​ (922) ​ ​ (987) (Impairment)/Recovery ​ 413 ​ (1,114) ​ ​ (133) Balance, end of period ​ $ 1,880 ​ $ 1,987 ​ $ 3,845 ​ The amount of loan servicing obligations included in other liabilities was $0 as of December 31, 2021 and 2020. The following is a summary of key data and assumptions used in the valuation of servicing rights as of December 31, 2021 and 2020. Increases or decreases in any one of these assumptions would result in lower or higher fair value measurements. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) ​ 2021 ​ 2020 ​ Fair value of servicing rights ​ $ 1,880 ​ $ 1,987 ​ Weighted-average remaining term, years ​ 20.3 ​ 20.1 ​ Prepayment speeds ​ 14.2 % 17.7 % Discount rate ​ 9.5 % 9.0 % ​

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases
Leases	NOTE 10 Leases Substantially all of the leases in which the Company is the lessee are comprised of real estate property for branches, and office equipment rentals with terms extending through 2027. Portions of certain properties are subleased for terms extending through 2023. Substantially all of the Company’s leases are classified as operating leases. The Company has one finance lease for a portion of the Company’s headquarters building with a lease term through 2022. The Company elected not to include short-term leases (i.e., leases with initial terms of twelve months or less), or equipment leases (deemed immaterial) on the consolidated financial statements. The following table presents the classification of the Company’s ROU assets and lease liabilities on the consolidated financial statements. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) ​ 2021 2020 Lease Right-of-Use Assets ​ Classification ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets Operating lease right-of-use assets ​ $ 3,727 ​ $ 6,918 Finance lease right-of-use assets Land, premises and equipment, net ​ 87 ​ 202 Total lease right-of-use assets ​ ​ ​ $ 3,814 ​ $ 7,120 Lease Liabilities ​ ​ ​ Operating lease liabilities Operating lease liabilities ​ $ 4,275 ​ $ 7,861 Finance lease liabilities Long-term debt ​ 203 ​ 430 Total lease liabilities ​ ​ ​ $ 4,478 ​ $ 8,291 ​ The calculated amount of the ROU assets and lease liabilities in the table above are impacted by the length of the lease term and the discount rates used to calculate the present value of the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Regarding the discount rate, Topic 842 requires the use of the rate implicit in the lease whenever the rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. For the Company’s only finance lease, the Company utilized its incremental borrowing rate at lease inception. ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2021 2020 ​ Weighted-average remaining lease term, years ​ ​ ​ ​ ​ Operating leases 3.4 ​ 5.8 ​ Finance leases 0.8 ​ 1.8 ​ Weighted-average discount rate ​ ​ ​ Operating leases 2.5 % 2.9 % Finance leases 7.8 % 7.8 % ​ As the Company elected, for all classes of underlying assets, not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as common area maintenance utilities. Variable lease cost also includes payments for usage or maintenance of those capitalized equipment operating leases. The following table presents lease costs and other lease information for the years ending December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2021 ​ 2020 ​ 2019 Lease costs ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ $ 1,827 ​ $ 2,457 ​ $ 2,378 Variable lease cost ​ 823 ​ 1,170 ​ 819 Short-term lease cost ​ 181 ​ 395 ​ 535 Finance lease cost ​ ​ ​ Interest on lease liabilities ​ 25 ​ 42 ​ 58 Amortization of right-of-use assets ​ 116 ​ 116 ​ 116 Sublease income ​ (228) ​ (228) ​ (270) Net lease cost ​ $ 2,744 ​ $ 3,952 ​ $ 3,636 Other information ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities operating cash flows from operating leases ​ $ 1,763 ​ $ 2,432 ​ $ 2,376 Right-of-use assets obtained in exchange for new operating lease liabilities ​ $ 267 ​ $ 1,555 ​ $ — ​ Future minimum payments for finance and operating leases with initial or remaining terms of one year or more as of December 31, 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Operating (dollars in thousands) Leases Leases Twelve months ended ​ ​ ​ ​ ​ ​ 2022 ​ $ 209 ​ $ 1,663 2023 ​ — ​ 1,343 2024 ​ — ​ 579 2025 ​ — ​ 447 2026 ​ — ​ 252 Thereafter ​ — ​ 423 Total future minimum lease payments ​ $ 209 ​ $ 4,707 Amounts representing interest ​ (6) ​ (432) Total operating lease liabilities ​ $ 203 ​ $ 4,275 ​

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2021
Other Assets
Other Assets	NOTE 11 Other Assets Other assets on the balance sheet consisted of the following balances at December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Federal Reserve Bank stock ​ $ 2,675 ​ $ 2,675 Foreclosed assets ​ 885 ​ 63 Prepaid expenses ​ 5,325 ​ 4,754 Investments in partnerships ​ 14 ​ 14 Trust fees accrued/receivable ​ 14,680 ​ 12,508 Income tax refund receivable ​ 1,146 ​ 1,631 Federal Home Loan Bank stock ​ 3,806 ​ 3,090 Derivative instruments ​ ​ 3,382 ​ ​ 13,773 Tax credit investments ​ ​ 7,906 ​ ​ — Other assets ​ 2,889 ​ 5,642 Total ​ $ 42,708 ​ $ 44,150 ​

Deposits

Deposits	12 Months Ended
	Dec. 31, 2021
Deposits.
Deposits	NOTE 12 Deposits The components of deposits in the consolidated balance sheets at December 31, 2021 and 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Noninterest-bearing ​ $ 938,840 ​ $ 754,716 Interest-bearing ​ ​ Interest-bearing demand ​ 714,669 ​ 618,900 Savings accounts ​ 96,825 ​ 79,902 Money market savings ​ 937,305 ​ 909,137 Time deposits ​ 232,912 ​ 209,338 Total interest-bearing ​ 1,981,711 ​ 1,817,277 Total deposits ​ $ 2,920,551 ​ $ 2,571,993 ​ The aggregate amount of deposit overdrafts included as loans were $2.9 million and $96 thousand at December 31, 2021 and 2020, respectively. Certificates of deposit in excess of $250,000 totaled $91.5 million and $62.1 million at December 31, 2021 and 2020, respectively. At December 31, 2021, the scheduled maturities of certificates of deposit were as follows: ​ ​ ​ ​ ​ (dollars in thousands) Amount 2022 ​ $ 210,360 2023 ​ 9,057 2024 ​ 3,899 2025 ​ 3,268 2026 ​ 4,252 Thereafter ​ 2,076 Total ​ $ 232,912 ​

Short-Term Borrowings

Short-Term Borrowings	12 Months Ended
	Dec. 31, 2021
Short-Term Borrowings
Short-Term Borrowings	NOTE 13 Short-Term Borrowings Short-term borrowings at December 31, 2021, 2020, and 2019 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ ​ December 31, ​ (dollars in thousands) 2021 2020 2019 ​ Fed funds purchased ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of end of period ​ $ — ​ $ — ​ $ — ​ Average daily balance ​ ​ 3 ​ ​ 80 ​ ​ 61,709 ​ Maximum month-end balance ​ ​ — ​ ​ — ​ ​ 139,605 ​ Weighted-average rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During period ​ ​ — % ​ — % ​ 2.54 % End of period ​ ​ — % ​ — % ​ — % FHLB Short-term advances ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of end of period ​ $ — ​ $ — ​ $ — ​ Average daily balance ​ ​ — ​ ​ — ​ ​ 9,712 ​ Maximum month-end balance ​ ​ — ​ ​ — ​ ​ 135,000 ​ Weighted-average rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During period ​ ​ — % ​ — % ​ 2.44 % End of period ​ ​ — % ​ — % ​ — % ​ The Company had outstanding credit capacity with the FHLB of $677.4 million and $631.7 million at December 31, 2021 and 2020 respectively, secured by pledged loans and investment securities. The Company also had $87.0 million of unsecured federal funds agreements with correspondent banks with no outstanding balance at December 31, 2021 and 2020. The Company has an unused $15.0 million unsecured line of credit with Bank of North Dakota. On April 15, 2020, we executed a PPPL Facility Agreement with the Federal Reserve Bank of Minneapolis. The PPP loans guaranteed by the SBA are eligible to serve as collateral for the PPPL Facility. The PPPL Facility provided us with additional liquidity, if necessary, to facilitate lending to small businesses under the PPP. As of December 31, 2021, we have not had a need to utilize the PPPL Facility.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2021
Long-Term Debt.
Long-Term Debt	NOTE 14 Long-Term Debt Long-term debt at December 31, 2021 and 2020 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Period End ​ ​ ​ ​ ​ ​ Face ​ Carrying ​ ​ ​ Interest ​ Maturity ​ ​ (dollars in thousands) Value Value Interest Rate Rate Date Call Date Subordinated notes payable ​ $ 50,000 ​ $ 50,000 ​ Fixed ​ 3.50 % 3/30/2031 ​ 3/31/2026 Junior subordinated debenture (Trust I) ​ ​ 4,124 ​ ​ 3,492 Three-month LIBOR + 3.10% ​ 3.32 % 6/26/2033 6/26/2008 Junior subordinated debenture (Trust II) ​ 6,186 ​ 5,238 Three-month LIBOR + 1.80% ​ 2.00 % 9/15/2036 9/15/2011 Finance lease liability ​ 2,700 ​ 203 Fixed 7.81 % 10/31/2022 N/A Total long-term debt ​ $ 63,010 ​ $ 58,933 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Period End ​ ​ ​ ​ ​ ​ Face ​ Carrying ​ ​ ​ Interest ​ Maturity ​ ​ (dollars in thousands) Value Value Interest Rate Rate Date Call Date Subordinated notes payable ​ $ 50,000 ​ $ 49,688 Three-month LIBOR + 4.12% 4.36 % 12/30/2025 12/30/2020 Junior subordinated debenture (Trust I) ​ 4,124 ​ 3,447 Three-month LIBOR + 3.10% ​ 3.35 % 6/26/2033 6/26/2008 Junior subordinated debenture (Trust II) ​ 6,186 ​ 5,170 Three-month LIBOR + 1.80% ​ 2.02 % 9/15/2036 9/15/2011 Finance lease liability ​ 2,700 ​ 430 Fixed 7.81 % 10/31/2022 N/A Total long-term debt ​ $ 63,010 ​ $ 58,735 ​

Financial Instruments with Off-

Financial Instruments with Off-Balance Sheet Risk	12 Months Ended
	Dec. 31, 2021
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	NOTE 15 Financial Instruments with Off-Balance Sheet Risk In the normal course of business, the Company has outstanding commitment and contingent liabilities, such as commitments to extend credit and standby letters of credit, which are not included in the accompanying consolidated financial statements. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual or notional amount of those instruments. The Company uses the same credit policies in making such commitments as it does for instruments that are included in the statements of financial condition. At December 31, 2021 and 2020, the following financial instruments whose contract amount represents credit risk were approximately as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Commitments to extend credit ​ $ 668,115 ​ $ 611,140 Standby letters of credit ​ 10,529 ​ 6,510 Total ​ $ 678,644 ​ $ 617,650 ​ At December 31, 2021 and 2020, respectively, the Company had a $150 thousand letter of credit with the FHLB. Bank of North Dakota letters of credit are collateralized by loans pledged to the Bank of North Dakota in the amount of $229.7 million and $245.7 million at December 31, 2021, and 2020, respectively. Outstanding letters of credit at December 31, 2021 and 2020 were $0 and $0, respectively. Commitments to extend credit are agreements to lend to a client as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each client’s creditworthiness on a case by case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation. Collateral held varies but may include accounts receivable, inventory, property and equipment, and income producing commercial properties. The Company was not required to perform on any financial guarantees and did not incur any losses on its commitments during the past two years.

Legal Contingencies

Legal Contingencies	12 Months Ended
	Dec. 31, 2021
Legal Contingencies
Legal Contingencies	NOTE 16 Legal Contingencies The Company may be subject to claims and lawsuits which may arise primarily in the ordinary course of business. It is the opinion of management that the disposition or ultimate resolution of these claims and lawsuits is currently not expected to have a material adverse effect on the financial position of the Company.

Share-Based Compensation Plan

Share-Based Compensation Plan	12 Months Ended
	Dec. 31, 2021
Share-Based Compensation Plan
Share-Based Compensation Plan	NOTE 17 Share-Based Compensation Plan On May 6, 2019, the Company’s stockholders approved the Alerus Financial Corporation 2019 Equity Incentive Plan. This plan allows the compensation committee the ability to grant a wide variety of equity awards, including stock options, stock appreciation rights, restricted stock, restricted stock units, and cash incentive awards in such forms and amounts as it deems appropriate to accomplish the goals of the plan. Any shares subject to an award that is cancelled, forfeited, or expires prior to exercise or realization, either in full or in part, shall again become available for issuance under the plan, except if such shares are (a) tendered in payment of the exercise price of a stock option, (b) delivered to, or withheld by, the Company to satisfy any tax withholding obligation, or (c) covered by a stock-settled stock appreciation right or other awards that were not issued upon the settlement of the award. Shares vest, become exercisable and contain such other terms and conditions as determined by the compensation committee and set forth in individual agreements with the participant receiving the award. The maximum number of shares that may be delivered under the plan shall be 1,100,000 shares. As of December 31, 2021, 39,289 stock awards and 91,302 restricted stock units had been issued under the plan and 23,807 shares and units had been forfeited. Remaining shares available for issue under the plan at December 31, 2021, was 993,216. Effective May 2009, the Company adopted the Alerus Financial Corporation 2009 Stock Award Plan, or the 2009 Plan, providing for the grant of up to 1,350,000 shares of its common stock to employees, officers, consultants, independent contractors, and directors pursuant to awards of non-qualified stock options, stock appreciation rights, restricted stock and restricted stock units, performance awards, or other stock-based awards in such forms and amounts as deemed appropriate to accomplish the goals of the plan. Any shares subject to an award that is cancelled, forfeited, or expires prior to exercise or realization, either in full or in part, and shares used to satisfy the purchase of an award or tax obligations associated therewith shall again become available for issuance under the plan. Shares vest, become exercisable and contain such other terms and conditions as determined by the compensation committee and set forth in individual agreements with the participant receiving the award. In determining compensation expense, the fair value of the award will be determined on the date of grant expensed over the applicable vesting period. For performance awards, the Company estimates that the most likely outcome is the achievement of the target level and if during the performance period, additional information becomes available to lead the Company to believe a different level will be achieved for the performance period, the Company will reassess the number of units that will vest for the grant and adjust its compensation expense accordingly on a prospective basis. Following the adoption of the 2019 Equity Incentive Plan, no new awards may be granted from this plan. Amounts granted under the plans have been retroactively adjusted for all stock splits effected in the form of dividends. Activity in the stock plan for the years ended December 31, 2021, and 2020 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ Year ended December 31, 2020 ​ ​ ​ ​ Weighted- ​ ​ ​ Weighted- ​ ​ ​ Average Grant ​ ​ ​ Average Grant ​ Awards Date Fair Value Awards Date Fair Value Restricted Stock and Restricted Stock Unit Awards ​ ​ ​ ​ ​ ​ ​ Outstanding at beginning of period 325,030 $ 19.48 ​ 347,211 $ 18.64 Granted 66,664 ​ 26.63 ​ 82,494 ​ 19.62 Vested (104,119) ​ 20.51 ​ (91,346) ​ 16.39 Forfeited or cancelled (26,725) ​ 18.03 ​ (13,329) ​ 19.62 Outstanding at end of period ​ 260,850 ​ $ 21.04 ​ 325,030 ​ $ 19.48 ​ Unrecognized compensation expense related to share-based awards was $2.2 million and $2.8 million as of December 31, 2021 and 2020, respectively. The expense is expected to be recognized over a weighted-average period of 2.91 years and 3.86 years, as of December 31, 2021 and 2020, respectively. Compensation expense relating to stock awards under these plans was $3.1 million in 2021, $1.9 million in 2020, and $1.5 million in 2019. The number of unvested shares outstanding was 140,228 and 203,253 respectively, at December 31, 2021 and 2020. The number of unvested units outstanding was 120,622 and 121,777 at December 31, 2021 and 2020, respectively. Effective May 2009, the Company also adopted the Alerus Financial Corporation Stock Grant Plan for Non-Employee Directors, or the Retainer Plan, providing for the issuance of up to 180,000 shares of its common stock to non-employee directors. The purpose of the Retainer Plan is to provide for payment for the annual retainer to directors in shares of Company common stock. The number of shares to be issued is based on the retainer divided by the fair market value per share as of the grant date, as defined in Note 1 (Significant Accounting Policies). Upon the issuance of shares under this plan, the then current value of the shares is charged to expense. Effective November 11, 2019, the Company terminated the Retainer Plan. Activity in the Retainer Plan for the years ended December 31, 2021, and 2020 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ Number of Shares ​ Available for Restricted ​ ​ future ​ stock ​ ​ grant ​ awards Balance as of December 31, 2019 ​ — ​ 167,319 Retainer shares awarded ​ — — Plan expiration ​ — — Balance as of December 31, 2020 ​ — ​ 167,319 Retainer shares awarded ​ — ​ — Balance as of December 31, 2021 ​ — ​ 167,319 ​ Compensation expense relating to stock awards under this plan was $0 in 2021, $0 in 2020, and $0.3 million in 2019.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2021
Employee Benefits
Employee Benefits	NOTE 18 Employee Benefits The Company maintains two employee retirement plans including the Alerus Financial Corporation Employee Stock Ownership Plan, or ESOP, and a defined contribution salary reduction plan, or 401k. The plans cover substantially all full-time employees upon satisfying prescribed eligibility requirements for age and length of service. Contributions to the ESOP are determined annually by the Board of Directors, at its discretion, and allocated to participants based on a percentage of annual compensation. Shares of the Company stock within the ESOP are considered outstanding and dividends on these shares are charged to retained earnings. Under the 401k, the Company contributes 100% of amounts deferred by employees up to 3% of eligible compensation and 50% of amounts deferred by employees between 3% and 6% of eligible compensation. Retirement plan contributions are reflected under employee benefits in the income statement and for years ending December 31, 2021, 2020, and 2019 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 2019 Salary reduction plan ​ $ 3,123 ​ $ 2,960 ​ $ 2,599 ESOP ​ 2,014 ​ 2,166 ​ 1,836 Total ​ $ 5,137 ​ $ 5,126 ​ $ 4,435 Total ESOP shares outstanding ​ 1,207,952 ​ 1,170,611 ​ 1,307,439 ​

Noninterest Income

Noninterest Income	12 Months Ended
	Dec. 31, 2021
Noninterest Income
Noninterest Income	NOTE 19 Noninterest Income The following table presents the Company’s noninterest income for the years ended December 31, 2021, 2020, and 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2021 2020 2019 Retirement and benefits ​ $ 71,709 ​ $ 60,956 ​ $ 63,811 Wealth management ​ 21,052 ​ 17,451 ​ ​ 15,502 Mortgage banking (1) ​ 48,502 ​ 61,641 ​ ​ 25,805 Service charges on deposit accounts ​ 1,395 ​ 1,409 ​ ​ 1,772 Net gains (losses) on investment securities (1) ​ 125 ​ 2,737 ​ ​ 357 Other ​ ​ ​ ​ Interchange fees ​ 2,180 ​ 2,140 ​ ​ 1,972 Bank-owned life insurance income (1) ​ 793 ​ 797 ​ ​ 803 Misc. transactional fees ​ 1,218 ​ 1,246 ​ ​ 1,236 Other noninterest income ​ 413 ​ 994 ​ ​ 2,936 Total noninterest income ​ $ 147,387 ​ $ 149,371 ​ $ 114,194 (1) Not within the scope of ASC 606. Contract balances: Contract acquisition costs practical expedient

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Taxes
Income Taxes	NOTE 20 Income Taxes The components of income tax expense (benefit) for the years ended December 31, 2021, 2020, and 2019 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2021 2020 2019 Federal ​ ​ ​ Current ​ $ 10,731 ​ $ 14,541 ​ $ 7,091 Deferred ​ 2,212 ​ (3,615) ​ 267 Federal income tax ​ 12,943 ​ 10,926 ​ 7,358 State ​ ​ ​ Current ​ 2,879 ​ 3,736 ​ 1,926 Deferred ​ 574 ​ (819) ​ 72 State income tax ​ 3,453 ​ 2,917 ​ 1,998 Total income tax expense ​ $ 16,396 ​ $ 13,843 ​ $ 9,356 ​ The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2021 and 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Deferred Tax Assets ​ ​ Allowance for loan losses ​ $ 7,925 ​ $ 8,556 Employee compensation and benefit accruals ​ 2,762 ​ 2,608 Expense accruals ​ 634 ​ 352 Identifiable intangible amortization ​ 3,341 ​ 3,388 Deferred loan fees ​ 58 ​ 1,204 Net operating loss carry forwards ​ 42 ​ 173 Nonaccrual loan interest ​ 86 ​ 62 Unrealized gain on available‑for‑sale investment securities ​ 1,426 ​ — Other ​ 518 ​ 505 Total deferred tax assets from temporary differences ​ 16,792 ​ 16,848 Deferred Tax Liabilities ​ ​ Accumulated depreciation ​ 918 ​ 314 Goodwill and intangible amortization ​ 2,752 ​ 2,258 Servicing assets ​ 451 ​ 511 Prepaid expenses ​ 1,014 ​ 785 Unrealized loss on available‑for‑sale investment securities ​ ​ — ​ ​ 3,566 Other ​ 43 ​ 5 Total deferred tax liabilities from temporary differences ​ 5,178 ​ 7,439 Net Deferred Tax Assets ​ $ 11,614 ​ $ 9,409 ​ The reconciliation between applicable income taxes and the amount computed at the applicable statutory Federal tax rate for years ending December 31, 2021, 2020, and 2019 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ ​ 2021 ​ ​ 2020 ​ 2019 ​ ​ ​ ​ Percent of ​ ​ Percent of ​ ​ Percent of (dollars in thousands) ​ Amount ​ Pretax Income ​ Amount ​ Pretax Income Amount ​ Pretax Income Taxes at statutory federal income tax rate ​ $ 14,506 21.0 % ​ $ 12,289 21.0 % $ 8,168 21.0 % Tax effect of: ​ ​ ​ ​ ​ ​ Tax exempt income ​ (556) (0.8) % ​ (527) (0.9) % (442) (1.1) % State income taxes, net of federal benefits ​ 2,973 4.3 ​ ​ 2,522 4.3 ​ 1,618 4.2 ​ Nondeductible items and other ​ ​ (527) ​ (0.8) ​ ​ ​ (441) ​ (0.8) ​ ​ 12 ​ — ​ Applicable income taxes ​ $ 16,396 23.7 % ​ $ 13,843 23.6 % $ 9,356 24.1 % ​ It is the opinion of management that the Company has no significant uncertain tax positions that would be subject to change upon examination.

Tax Credit Investments

Tax Credit Investments	12 Months Ended
	Dec. 31, 2021
Tax Credit Investments.
Tax Credit Investments	NOTE 21 Tax Credit Investments The Company invests in qualified affordable housing projects for the purpose of community reinvestment and obtaining tax credits. The Company’s tax credit investments are limited to existing lending relationships with well-known developers and projects within the Company’s market area. The following table presents a summary of the Company’s investments in qualified affordable housing projects tax credit investments at December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 (dollars in thousands) ​ ​ Investment ​ Unfunded Commitment (1) Investment ​ Accounting Method ​ ​ ​ ​ ​ ​ Low income housing tax credit Proportional amortization ​ $ 7,906 $ — Total ​ ​ $ 7,906 $ — ​ For the year ended December 31, 2021, we had no amortization expense recognized for the Company’s qualified affordable housing projects tax credit investments.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2021
Segment Reporting
Segment Reporting	NOTE 22 Segment Reporting The Company determines reportable segments based on the services offered, the significance of the services offered, the significance of those services to the Company’s financial statements, and management’s regular review of the operating results of those services. The Company operates through four operating segments: Banking, Retirement and Benefit Services, Wealth Management, and Mortgage. The financial information presented on each segment sets forth net interest income, provision for loan losses, direct noninterest income and direct noninterest expense before indirect allocations. Corporate Administration includes the indirect overhead expense and is set forth in the table below. The segment net income before taxes represents direct revenue and expense before indirect allocations and income taxes. The following table presents key metrics related to the Company’s segments as of and for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income ​ $ 87,014 ​ $ — ​ $ — ​ $ 1,981 ​ $ (1,896) ​ $ 87,099 Provision for loan losses ​ ​ (3,500) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (3,500) Noninterest income ​ ​ 6,091 ​ ​ 71,709 ​ ​ 21,052 ​ ​ 48,502 ​ ​ 33 ​ ​ 147,387 Noninterest expense ​ ​ 44,989 ​ 40,164 ​ 8,869 ​ 37,162 ​ ​ 37,725 ​ ​ 168,909 Net income before taxes ​ $ 51,616 ​ $ 31,545 ​ $ 12,183 ​ $ 13,321 ​ $ (39,588) ​ $ 69,077 Total assets $ 3,254,979 ​ $ 44,953 ​ $ 3,644 ​ $ 75,713 ​ $ 13,402 ​ $ 3,392,691 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2020 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income ​ $ 85,167 ​ $ — ​ $ — ​ $ 2,092 ​ $ (3,413) ​ $ 83,846 Provision for loan losses ​ 10,900 ​ — ​ — ​ — ​ — ​ 10,900 Noninterest income ​ 10,017 ​ 60,956 ​ 17,451 ​ 61,641 ​ (694) ​ 149,371 Noninterest expense ​ 46,883 ​ 35,236 ​ 8,289 ​ 36,323 ​ 37,068 ​ 163,799 Net income before taxes ​ $ 37,401 ​ $ 25,720 ​ $ 9,162 ​ $ 27,410 ​ $ (41,175) ​ $ 58,518 Total assets $ 2,827,792 ​ $ 47,758 ​ $ 3,009 ​ $ 125,078 ​ $ 10,134 ​ $ 3,013,771 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2019 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income ​ $ 76,916 ​ $ — ​ $ — ​ $ 1,245 ​ $ (3,610) ​ $ 74,551 Provision for loan losses ​ 7,312 ​ — ​ — ​ — ​ — ​ 7,312 Noninterest income ​ 6,970 ​ 63,811 ​ 15,502 ​ 25,805 ​ 2,106 ​ 114,194 Noninterest expense ​ 43,171 ​ 35,407 ​ 7,188 ​ 21,877 ​ 34,894 ​ 142,537 Net income before taxes ​ $ 33,403 ​ $ 28,404 ​ $ 8,314 ​ $ 5,173 ​ $ (36,398) ​ $ 38,896 Total assets $ 2,259,614 ​ $ 39,021 ​ $ 128 ​ $ 47,703 ​ $ 10,412 ​ $ 2,356,878 ​ Banking The Banking division offers a complete line of loan, deposit, cash management, and treasury services through fourteen offices in North Dakota, Minnesota, and Arizona. These products and services are supported through web and mobile based applications. The majority of the Company’s assets and liabilities are in the Banking segments’ balance sheet. Retirement and Benefit Services Retirement and Benefit Services provides the following services nationally: recordkeeping and administration services to qualified retirement plans; ESOP trustee, recordkeeping, and administration; investment fiduciary services to retirement plans; health savings account, flex spending account, and Cobra recordkeeping and administration services to employers; payroll and HIRS services for employers. In addition, the division operates within the banking markets as well as in Lansing, Michigan, Littleton, Colorado. Wealth Management The Wealth Management division provides advisory and planning services, investment management, and trust and fiduciary services to clients across the Company’s footprint. Mortgage The mortgage division offers first and second mortgage loans through the Banking office locations.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share
Earnings Per Share	NOTE 23 Earnings Per Share Beginning in the third quarter of 2019, the Company elected to prospectively use the two-class method in calculating earnings per share due to the restricted stock awards and restricted stock units qualifying as participating securities. Under the two-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to common dividends declared (or accumulated) and participating rights in undistributed earnings. Average shares of common stock for diluted net income per common share include shares to be issued upon the vesting of restricted stock awards and restricted stock units granted under the Company’s share-based compensation plans. The calculation of basic and diluted earnings per share using the two-class method for the years ending December 31, 2021, 2020, and 2019 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars and shares in thousands, except per share data) 2021 2020 ​ 2019 Net income ​ $ 52,681 ​ $ 44,675 ​ $ 29,540 Dividends and undistributed earnings allocated to participating securities ​ ​ 802 ​ ​ 770 ​ ​ 647 Net income available to common shareholders ​ $ 51,879 ​ $ 43,905 ​ $ 28,893 Weighted-average common shares outstanding for basic earnings per share ​ ​ 17,189 ​ 17,106 ​ 14,736 Dilutive effect of stock-based awards ​ 297 ​ 332 ​ 357 Weighted-average common shares outstanding for diluted earnings per share ​ ​ 17,486 ​ ​ 17,438 ​ ​ 15,093 Earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ $ 3.02 ​ $ 2.57 ​ $ 1.96 Diluted earnings per common share ​ $ 2.97 ​ $ 2.52 ​ $ 1.91 ​

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions
Related Party Transactions	NOTE 24 Related Party Transactions In the ordinary course of business, the Bank has extended loans to executive officers, directors, and their affiliates (related parties). These loans are made on substantially the same terms and conditions as those prevailing at the time for comparable transactions with outsiders and are not considered to involve more than the normal risk of collectability. The following table presents the activity associated with loans made between related parties at December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2021 2020 Beginning balance ​ $ 254 ​ $ 307 New loans and advances ​ ​ 132 ​ ​ 271 Repayments ​ ​ (352) ​ ​ (322) Changes to related parties (1) ​ ​ — ​ ​ (2) Ending balance ​ $ 34 ​ $ 254 (1) Represents changes related to directors that retired from our Board during the year. ​ Deposits from related parties held by the Bank at December 31, 2021 and 2020, amounted to $3.6 million and $3.1 million, respectively.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2021
Derivative Instruments
Derivative Instruments	NOTE 25 Derivative Instruments The Company maintains an overall interest rate risk management strategy that incorporates the use of derivative instruments to minimize significant unplanned fluctuations in earnings that are caused by interest rate volatility. The Company’s goal is to manage interest rate sensitivity by modifying the repricing or maturity characteristics of certain balance sheet assets and liabilities so that the net interest margin is not, on a material basis, adversely affected by movements in interest rates. As a result of the interest rate fluctuations, hedged assets and liabilities will appreciate or depreciate in market value. The effect of this unrealized appreciation or depreciation will generally be offset by income or loss on the derivative instruments that are linked to the hedged assets and liabilities. The Company views this strategy as a prudent management of interest rate sensitivity, such that earnings are not exposed to undue risk presented by changes in interest rate risks. Derivative instruments that are used as part of the Company’s interest rate risk management strategy include interest rate swaps, futures contracts, and options contracts with indices that relate to the pricing of specific balance sheet assets and liabilities. Interest rate swaps generally involve the exchange of fixed and variable rate interest payments between two parties, based on a common notional principal amount and maturity date. Interest rate options represent contracts that allow the holder of the option to (1) receive cash or (2) purchase, sell, or enter into a financial instrument at a specified price within a specified period of time. Certain of these contracts also provide the Company with the right to enter into interest-rate swaps and cap and floor agreements with the writer of the option. By using derivative instruments, the Company is exposed to credit and market risk. If the counterparty fails to perform, credit risk is equal to the extent of the estimated fair value gain in a derivative. When the estimated fair value of a derivative contract is positive, this generally indicates that the counterparty owes the Company and therefore, creates a repayment risk for the Company. When the estimated fair value of a derivative contract is negative, the Company owes the counterparty and, therefore, it has no repayment risk. The Company minimizes the credit (or repayment) risk in derivative instruments by entering into transactions with high-quality counterparties that are reviewed periodically by the Company’s credit committee. The Company also maintains a policy of requiring that all derivative contracts be governed by an International Swaps and Derivatives Association Master Agreement. Various derivatives, including interest rate, commodity, equity, credit, and foreign exchange contracts, are offered to clients but usually offset the exposure from such contracts by purchasing other financial contracts. The customer accommodations and any offsetting financial contracts are treated as freestanding derivatives. Free-standing derivatives also include derivatives entered into for risk management that do not otherwise qualify for hedge accounting, including domestic hedge derivatives. The following table presents the total notional or contractual amounts and estimated fair values for derivatives not designated as hedging instruments that are recorded on the balance sheet in other assets or other liabilities. Customer accommodation, trading, and other free-standing derivatives are recorded on the balance sheet at fair value in trading assets or other liabilities at December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 ​ ​ ​ ​ Fair ​ Notional ​ Fair ​ Notional (dollars in thousands) ​ Value Amount Value Amount Asset Derivatives Consolidated Balance Sheet Location ​ ​ ​ ​ Interest rate swaps Other assets ​ $ 1,366 ​ $ 44,826 ​ $ 569 ​ $ 44,597 Interest rate lock commitments Other assets ​ ​ 1,507 ​ ​ 52,316 ​ ​ 10,124 ​ ​ 270,103 Forward loan sales commitments Other assets ​ 490 ​ 13,418 ​ 2,664 ​ 86,990 TBA mortgage backed securities Other assets ​ 34 ​ 97,000 ​ — ​ — Total asset derivatives ​ $ 3,397 ​ $ 207,560 ​ $ 13,357 ​ $ 401,690 Liability Derivatives ​ ​ ​ ​ Interest rate swaps Accrued expenses and other liabilities ​ $ 1,368 ​ $ 44,826 ​ $ 572 ​ $ 44,597 TBA mortgage backed securities Accrued expenses and other liabilities ​ ​ — ​ ​ — ​ ​ 2,339 ​ ​ 307,000 Total liability derivatives ​ $ 1,368 ​ $ 44,826 ​ $ 2,911 ​ $ 351,597 ​ The Company has third party agreements that require a minimum dollar transfer amount upon a margin call. This requirement is dependent on certain specified credit measures. The amount of collateral posted with third parties at December 31, 2021 and 2020, respectively, was $19 thousand and $2.7 million. The amount of collateral posted with third parties is deemed to be sufficient to collateralize both the fair market value change a well as any additional amounts that may be required as a result of a change in the specified credit measures. The gain (loss) recognized on derivatives instruments for years ended December 31, 2021, 2020, and 2019 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ Consolidated Statements ​ December 31, ​ December 31, ​ December 31, (dollars in thousands) of Income Location 2021 2020 2019 Interest rate swaps Other noninterest income ​ $ 1 ​ $ (3) ​ $ — Interest rate lock commitments Mortgage banking ​ ​ (8,660) ​ ​ 8,798 ​ ​ 1,216 Forward loan sales commitments Mortgage banking ​ ​ (2,174) ​ ​ 2,271 ​ ​ 400 TBA mortgage backed securities Mortgage banking ​ 5,220 ​ (12,997) ​ ​ (109) Total gain/(loss) from derivative instruments ​ ​ $ (5,613) ​ $ (1,931) ​ $ 1,507 ​

Regulatory Matters

Regulatory Matters	12 Months Ended
	Dec. 31, 2021
Regulatory Matters
Regulatory Matters	NOTE 26 Regulatory Matters The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s consolidated financial statements. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the following table) of common equity tier 1, tier 1, and total capital (as defined in the regulations) to risk weighted assets (as defined) and of tier 1 capital (as defined) to average assets (as defined). Management believes at December 31, 2021 and 2020, each of the Company and the Bank met all of the capital adequacy requirements to which it is subject. As of December 31, 2021, the most recent notification from the Federal Deposit Insurance Corporation, categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since the notification that management believe have changed in the Bank’s category. Actual capital amounts and ratios for the Company (consolidated) and the Bank at December 31, 2021 and 2020 are presented in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be ​ ​ ​ ​ ​ ​ ​ ​ ​ Requirements ​ ​ Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ for Capital ​ ​ Under Prompt ​ ​ Actual ​ Adequacy Purposes ​ Corrective Action (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk weighted assets ​ ​ ​ ​ Consolidated ​ $ 314,628 14.65 % $ 96,647 4.50 % $ N/A N/A ​ Bank ​ 297,453 13.87 % 96,538 4.50 % 139,444 6.50 % Tier 1 capital to risk weighted assets ​ ​ . ​ Consolidated ​ 323,358 15.06 % 128,862 6.00 % N/A N/A ​ Bank ​ 297,453 13.87 % 128,718 6.00 % 171,624 8.00 % Total capital to risk weighted assets ​ ​ Consolidated ​ 400,263 18.64 % 171,816 8.00 % N/A N/A ​ Bank ​ 324,328 15.12 % 171,624 8.00 % 214,530 10.00 % Tier 1 capital to average assets ​ ​ Consolidated ​ 323,358 9.79 % 132,112 4.00 % N/A N/A ​ Bank ​ 297,453 9.01 % 132,039 4.00 % 165,049 5.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be ​ ​ ​ ​ ​ ​ ​ ​ ​ Requirements ​ ​ Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ for Capital ​ ​ Under Prompt ​ ​ Actual ​ Adequacy Purposes ​ Corrective Action (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk weighted assets ​ ​ ​ ​ Consolidated ​ $ 265,490 12.75 % $ 93,723 4.50 % $ N/A N/A ​ Bank ​ 251,806 12.10 % 93,632 4.50 % 135,246 6.50 % Tier 1 capital to risk weighted assets ​ ​ . ​ Consolidated ​ 273,797 13.15 % 124,964 6.00 % N/A N/A ​ Bank ​ 251,806 12.10 % 124,843 6.00 % 166,457 8.00 % Total capital to risk weighted assets ​ ​ Consolidated ​ 349,620 16.79 % 166,618 8.00 % N/A N/A ​ Bank ​ 277,916 13.36 % 166,457 8.00 % 208,071 10.00 % Tier 1 capital to average assets ​ ​ Consolidated ​ 273,797 9.24 % 118,587 4.00 % N/A N/A ​ Bank ​ 251,806 8.50 % 118,511 4.00 % 148,139 5.00 % ​ The Bank is subject to certain restrictions on the amount of dividends that it may pay without prior regulatory approval. The Bank normally restricts dividends to a lesser amount. In addition, the Company must adhere to various U.S. Department of Housing and Urban Development, or HUD, regulatory guidelines including required minimum capital and liquidity to maintain their Federal Housing Administration approval status. Failure to comply with the HUD guidelines could result in withdrawal of this certification. As of December 31, 2021 and 2020 the Company was in compliance with HUD guidelines.

Stock Repurchase Program

Stock Repurchase Program	12 Months Ended
	Dec. 31, 2021
Stock Repurchase Program
Stock Repurchase Program	NOTE 27 Stock Repurchase Program On February 18, 2021, the Board of Directors of the Company approved a stock repurchase program, or the Program, which authorizes the Company to repurchase up to 770,000 shares of its common stock subject to certain limitations and conditions. The Program was effective immediately and will continue for a period of 36 months . The Program does not obligate the Company to repurchase any shares of its common stock and there is no assurance that the Company will do so. For the year ended December 31, 2021, there were no shares repurchased under the Program. The Company also repurchases shares to pay withholding taxes on the vesting of restricted stock awards and units.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 2021
Fair Value of Assets and Liabilities
Fair Value of Assets and Liabilities	NOTE 28 Fair Value of Assets and Liabilities The Company categorizes its assets and liabilities measured at estimated fair value into a three level hierarchy based on the priority of the inputs to the valuation technique used to determine estimated fair value. The estimated fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used in the determination of the estimated fair value measurement fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the estimated fair value measurement. Assets and liabilities valued at estimated fair value are categorized based on the following inputs to the valuation techniques as follows: Level 1 Level 2 Level 3 Professional standards allow entities the irrevocable option to elect to measure certain financial instruments and other items at estimated fair value for the initial and subsequent measurement on an instrument-by-instrument basis. The Company adopted the policy to value certain financial instruments at estimated fair value. The Company has not elected to measure any existing financial instruments at estimated fair value; however, it may elect to measure newly acquired financial instruments at estimated fair value in the future. Recurring Basis The Company uses estimated fair value measurements to record estimated fair value adjustments to certain assets and liabilities and to determine estimated fair value disclosures. For additional information on how the Company measures estimated fair value refer to Note 1 (Significant Accounting Policies). The following tables present the balances of the assets and liabilities measured at estimated fair value on a recurring basis at December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 (dollars in thousands) Level 1 Level 2 Level 3 Total Available-for-sale ​ ​ ​ ​ U.S. treasury and government agencies ​ $ — ​ $ 5,103 ​ $ — ​ $ 5,103 Mortgage backed securities ​ ​ ​ ​ Residential agency ​ — ​ 707,157 ​ — ​ 707,157 Commercial ​ — ​ 90,913 ​ — ​ 90,913 Asset backed securities ​ — ​ 54 ​ — ​ 54 Corporate bonds ​ — ​ 50,422 ​ — ​ 50,422 Total available-for-sale investment securities ​ $ — ​ $ 853,649 ​ $ — ​ $ 853,649 Other assets ​ ​ ​ ​ Derivatives ​ $ — ​ $ 3,397 ​ $ — ​ $ 3,397 Other liabilities ​ ​ ​ ​ Derivatives ​ $ — ​ $ 1,368 ​ $ — ​ $ 1,368 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 (dollars in thousands) Level 1 Level 2 Level 3 Total Available-for-sale ​ ​ ​ ​ U.S. treasury and government agencies ​ $ — ​ $ 5,907 ​ $ — ​ $ 5,907 Obligations of state and political agencies ​ — ​ 153,773 ​ — ​ 153,773 Mortgage backed securities ​ ​ ​ ​ Residential agency ​ — ​ 306,719 ​ — ​ 306,719 Commercial ​ — ​ 94,978 ​ — ​ 94,978 Asset backed securities ​ — ​ 115 ​ — ​ 115 Corporate bonds ​ — ​ 30,850 ​ — ​ 30,850 Total available-for-sale investment securities ​ $ — ​ $ 592,342 ​ $ — ​ $ 592,342 Other assets ​ ​ ​ ​ Derivatives ​ $ — ​ $ 13,357 ​ $ — ​ $ 13,357 Other liabilities ​ ​ ​ ​ Derivatives ​ $ — ​ $ 2,911 ​ $ — ​ $ 2,911 ​ The following is a description of the valuation methodologies used for instruments measured at estimated fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy. Investment Securities When available, the Company uses quoted market prices to determine the estimated fair value of investment securities; such items are classified in Level 1 of the estimated fair value hierarchy. For the Company’s investment securities for which quoted prices are not available for identical investment securities in an active market, the Company determines estimated fair value utilizing vendors who apply matrix pricing for similar bonds for which no prices are observable or may compile prices from various sources. These models are primarily industry-standard models that consider various assumptions, including time value, yield curve, volatility factors, prepayment speeds, default rates, loss severity, current market, and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. Estimated fair values from these models are verified, where possible, against quoted prices for recent trading activity of assets with similar characteristics to the security being valued. Such methods are generally classified as Level 2. However, when prices from independent sources vary, cannot be obtained, or cannot be corroborated, a security is generally classified as Level 3. Derivatives All of the Company’s derivatives are traded in over-the-counter markets where quoted market prices are not readily available. For these derivatives, estimated fair value is measured using internally developed models that use primarily market observable inputs, such as yield curves and option volatilities, and accordingly, classify as Level 2. Examples of Level 2 derivatives are basic interest rate swaps and forward contracts. Any remaining derivative estimated fair value measurements using significant assumptions that are unobservable are classified as Level 3. Level 3 derivatives include interest rate lock commitments written for residential mortgage loans that are held for sale. Nonrecurring Basis Certain assets are measured at estimated fair value on a nonrecurring basis. These assets are not measured at estimated fair value on an ongoing basis; however, they are subject to estimated fair value adjustments in certain circumstances, such as when there is evidence of impairment or a change in the amount of previously recognized impairment. Net impairment losses related to nonrecurring estimated fair value measurements of certain assets for the years ended December 31, 2021 and 2020 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 (dollars in thousands) Level 2 Level 3 Total Impairment Loans held for sale ​ $ 46,490 ​ $ — ​ $ 46,490 ​ $ — Impaired loans ​ — ​ 2,469 ​ 2,469 ​ 283 Foreclosed assets ​ — ​ 885 ​ 885 ​ — Servicing rights ​ — ​ 1,880 ​ 1,880 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 (dollars in thousands) Level 2 Level 3 Total Impairment Loans held for sale ​ $ 122,440 ​ $ — ​ $ 122,440 ​ $ — Impaired loans ​ — ​ 7,325 ​ 7,325 ​ 1,205 Foreclosed assets ​ — ​ 63 ​ 63 ​ — Servicing rights ​ — ​ 1,987 ​ 1,987 ​ — ​ Loans Held for Sale Loans originated and held for sale are carried at the lower of cost or estimated fair value. The Company obtains quotes or bids on these loans directly from purchasing financial institutions. Typically, these quotes include a premium on the sale and thus these quotes indicate estimated fair value of the held for sale loans is greater than cost. Impairment losses for loans held for sale that are carried at the lower of cost or estimated fair value represent additional net write-downs during the period to record these loans at the lower of cost or estimated fair value subsequent to their initial classification as loans held for sale. Impaired Loans In accordance with the provisions of the loan impairment guidance, loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms are measured for impairment. Allowable methods for estimating fair value include using the estimated fair value of the collateral for collateral dependent loans or, where a loan is determined not to be collateral dependent, using a discounted cash flow method. The estimated fair value method requires obtaining a current independent appraisal of the collateral and applying a discount factor, if necessary, to the appraised value and including costs to the sell. Because many of these inputs are not observable, the measurements are classified as Level 3. Foreclosed Assets Foreclosed assets are recorded at estimated fair value based on property appraisals, less estimated selling costs, at the date of the transfer with any impairment amount charged to the allowance for loan losses. Subsequent to the transfer, foreclosed assets are carried at the lower of cost or estimated fair value, less estimated selling costs with changes in the estimated fair value or any impairment amount recorded in other noninterest expense. Fair value measurements may be based upon appraisals, third-party price opinions, or internally developed pricing methods. These measurements are classified as Level 3. Servicing Rights Servicing rights do not trade in an active market with readily observable prices. Accordingly, the estimated fair value of servicing rights is determined using a valuation model that calculates the present value of estimated future net servicing income. The model incorporates assumptions that market participants use in estimating future net servicing income, including estimates of prepayment speeds, discount rate, cost to service, escrow account earnings, contractual servicing fee income, ancillary income, and late fees. Servicing rights are carried at lower of cost or market value, and therefore can be subject to estimated fair value measurements on a nonrecurring basis. Estimated fair value measurements of servicing rights use significant unobservable inputs and accordingly, are classified as Level 3. The Company obtains the estimated fair value of servicing rights from an independent third party pricing service and records the unadjusted estimated fair values in the financial statements. The valuation techniques and significant unobservable inputs used to measure Level 3 estimated fair values at December 31, 2021 and 2020, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ (dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Asset Type Valuation Technique Unobservable Input Fair Value Range Average Impaired loans Appraisal value Property specific adjustment $ 2,469 N/A ​ N/A Foreclosed assets Appraisal value Property specific adjustment 885 N/A N/A Servicing rights Discounted cash flows Prepayment speed assumptions 1,880 161-327 237 ​ Discount rate 9.5 % 9.5 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ (dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Asset Type Valuation Technique Unobservable Input Fair Value Range Average Impaired loans Appraisal value Property specific adjustment $ 7,325 N/A N/A ​ Foreclosed assets Appraisal value Property specific adjustment 63 N/A N/A ​ Servicing rights Discounted cash flows Prepayment speed assumptions 1,987 191-403 285 ​ ​ Discount rate 9.0 % 9.0 % ​ Disclosure of estimated fair value information about financial instruments, for which it is practicable to estimate that value, is required whether or not recognized in the consolidated balance sheets. In cases in which quoted market prices are not available, estimated fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimate of future cash flows. In that regard, the derived estimated fair value estimates cannot be substantiated by comparison to independent markets and, in many cases could not be realized in immediate settlement of the instruments. Certain financial instruments with an estimated fair value that is not practicable to estimate and all non-financial instruments are excluded from the disclosure requirements. Accordingly, the aggregate estimated fair value amounts presented do not necessarily represent the underlying value of the Company. The following disclosures represent financial instruments in which the ending balances at December 31, 2021 and 2020 are not carried at estimated fair value in their entirety on the consolidated balance sheets. Cash and Due from Banks and Accrued Interest The carrying amounts reported in the Consolidated Balance Sheets approximate those assets and liabilities estimated fair values. Loans For variable-rate loans that reprice frequently and with no significant change in credit risk, estimated fair values are based on carrying values. The estimated fair values of other loans are estimated using discounted cash flow analysis, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Bank-Owned Life Insurance Bank-owned life insurance is carried at the amount due upon surrender of the policy, which is also the estimated fair value. This amount was provided by the insurance companies based on the terms of the underlying insurance contract. Deposits The estimated fair values of demand deposits are, by definition, equal to the amount payable on demand at the consolidated balance sheet date. The estimated fair values of fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies current incremental interest rates being offered on certificates of deposit to a schedule of aggregated expected monthly maturities of the outstanding certificates of deposit. Short-Term Borrowings and Long-Term Debt For variable-rate borrowings that reprice frequently, estimated fair values are based on carrying values. The estimated fair value of fixed-rate borrowings are estimated using discounted cash flow analysis, based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. Off-Balance Sheet Credit-Related Commitments Off-balance sheet credit related commitments are generally of short-term nature. The contract amount of such commitments approximates their estimated fair value since the commitments are comprised primarily of unfunded loan commitments which are generally priced at market at the time of funding. The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Carrying ​ Estimated Fair Value (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial Assets ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 242,311 ​ $ 242,311 ​ $ — ​ $ — ​ $ 242,311 Investment securities held-to-maturity ​ ​ 352,061 ​ ​ — ​ ​ 349,677 ​ ​ — ​ ​ 349,677 Loans ​ 1,726,448 ​ — ​ — ​ 1,760,784 ​ 1,760,784 Accrued interest receivable ​ 8,537 ​ 8,537 ​ — ​ — ​ 8,537 Bank-owned life insurance ​ 33,156 ​ — ​ 33,156 ​ — ​ 33,156 Financial Liabilities ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ $ 938,840 ​ $ — ​ $ 938,840 ​ $ — ​ $ 938,840 Interest-bearing deposits ​ 1,748,799 ​ — ​ 1,748,799 ​ — ​ 1,748,799 Time deposits ​ 232,912 ​ — ​ — ​ 232,970 ​ 232,970 Long-term debt ​ 58,933 ​ — ​ 57,772 ​ — ​ 57,772 Accrued interest payable ​ 1,674 ​ 1,674 ​ — ​ — ​ 1,674 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Carrying ​ Estimated Fair Value (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial Assets ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 172,962 ​ $ 172,962 ​ $ — ​ $ — ​ $ 172,962 Loans ​ 1,945,129 ​ — ​ — ​ 1,992,394 ​ 1,992,394 Accrued interest receivable ​ 9,662 ​ 9,662 ​ — ​ — ​ 9,662 Bank-owned life insurance ​ 32,363 ​ — ​ 32,363 ​ — ​ 32,363 Financial Liabilities ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ $ 754,716 ​ $ — ​ $ 754,716 ​ $ — ​ $ 754,716 Interest-bearing deposits ​ 1,607,939 ​ — ​ 1,607,939 ​ — ​ 1,607,939 Time deposits ​ 209,338 ​ — ​ — ​ 210,637 ​ 210,637 Long-term debt ​ 58,735 ​ — ​ 56,131 ​ — ​ 56,131 Accrued interest payable ​ 654 ​ 654 ​ — ​ — ​ 654 ​

Parent Company Only Financial S

Parent Company Only Financial Statements	12 Months Ended
	Dec. 31, 2021
Parent Company Only Financial Statements
Parent Company Only Financial Statements	NOTE 29 Parent Company Only Financial Statements The condensed financial statements of Alerus Financial Corporation (parent company only) are presented below. These statements should be read in conjunction with the Notes to the Consolidated Financial Statements Alerus Financial Corporation Parent Company Condensed Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Assets ​ ​ Cash and cash equivalents ​ $ 81,753 ​ $ 76,701 Land, premises and equipment, net ​ 87 ​ 202 Investment in subsidiaries ​ 342,538 ​ 316,789 Deferred income taxes, net ​ 1,000 ​ 1,007 Other assets ​ 655 ​ 589 Total assets ​ $ 426,033 ​ $ 395,288 Liabilities and Stockholders’ Equity ​ ​ Long‑term debt ​ $ 58,933 ​ $ 58,735 Accrued expenses and other liabilities ​ 7,697 ​ 6,390 Total liabilities ​ 66,630 ​ 65,125 Stockholders’ equity ​ 359,403 ​ 330,163 Total stockholders’ equity ​ 359,403 ​ 330,163 Total liabilities and stockholders’ equity ​ $ 426,033 ​ $ 395,288 ​ Alerus Financial Corporation Parent Company Condensed Statements of Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2021 2020 2019 Income ​ ​ ​ Dividends from subsidiaries ​ $ 16,000 ​ $ 16,000 ​ $ 15,000 Other income ​ 4 ​ 10 ​ 15 Total operating income ​ 16,004 ​ 16,010 ​ 15,015 Expenses ​ 5,293 ​ 6,057 ​ 5,999 Income before equity in undistributed income ​ 10,711 ​ 9,953 ​ 9,016 Equity in undistributed income of subsidiaries ​ 40,642 ​ 33,208 ​ 19,089 Income before income taxes ​ 51,353 ​ 43,161 ​ 28,105 Income tax benefit ​ 1,328 ​ 1,514 ​ 1,435 Net income ​ $ 52,681 ​ $ 44,675 ​ $ 29,540 ​ ​ Alerus Financial Corporation Parent Company Condensed Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2021 2020 2019 Operating activities ​ ​ ​ Net income ​ $ 52,681 ​ $ 44,675 ​ $ 29,540 Adjustments to reconcile net income to net cash provided by operating activities ​ ​ ​ Equity in undistributed income of subsidiaries ​ (40,642) ​ (33,208) ​ (19,089) Depreciation and amortization ​ 115 ​ 116 ​ 115 Stock‑based compensation cost ​ 3,095 ​ 1,927 ​ 251 Other, net ​ 1,266 ​ 413 ​ 2,676 Net cash provided by operating activities ​ 16,515 ​ 13,923 ​ 13,493 Investing activities ​ ​ ​ Investment in bank subsidiary ​ — ​ — ​ — Acquisitions, net cash acquired ​ — ​ — ​ — Net cash provided by investing activities ​ — ​ — ​ — Financing activities ​ ​ ​ Cash dividends paid on common stock ​ (10,751) ​ (10,387) ​ (8,909) Repurchase of common stock ​ (712) ​ (482) ​ (1,948) Proceeds from the issuance of common stock in initial public offering net of issuance costs ​ ​ — ​ ​ — ​ ​ 62,804 Net cash provided by financing activities ​ (11,463) ​ (10,869) ​ 51,947 Change in cash and cash equivalents ​ 5,052 ​ 3,054 ​ 65,440 Cash and cash equivalents at beginning of period ​ 76,701 ​ 73,647 ​ 8,207 Cash and cash equivalents at end of period ​ $ 81,753 ​ $ 76,701 ​ $ 73,647 ​

Branch Sale

Branch Sale	12 Months Ended
	Dec. 31, 2021
Branch Sale
Branch Sale	NOTE 30 Branch Sale On January 15, 2019, the Bank announced an agreement to sell the Bank’s branch offices located in Duluth, Minnesota, including loans and deposits attributable to those offices, to another financial institution. The Bank decided to exit the Duluth market to reallocate resources to the Minneapolis-St. Paul-Bloomington metropolitan statistical area, which is a higher growth market in the state, and its other core markets in the Phoenix-Mesa-Scottsdale metropolitan statistical area, and in Fargo and Grand Forks, North Dakota. The transaction closed on April 26, 2019. The loans and deposits associated with this transaction totaled approximately $28.3 million and $19.4 million, respectively, as of the closing date. A pre-tax gain on the sale was recognized in the amount of $1.5 million.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events.
Subsequent Events	NOTE 31 Subsequent Events On December 8, 2021, we entered into an Agreement and Plan of Merger, or the Merger Agreement, with MPB BHC, Inc. and Arizona corporation, or MPB, pursuant to which MPB will merge into the Company, with the Company as the surviving corporation, or the Merger. The Merger is expected to be completed in the second quarter of 2022. On January 19, 2022, the Company announced that its Board of Directors declared a cash dividend of $0.16 per share of its common stock. The dividend is payable on April 8, 2022, to stockholders of record on March 18, 2022. Subsequent events have been evaluated through March 10, 2022, which is the date these financial statements were issued.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Organization	Alerus Financial Corporation is a financial holding company organized under the laws of Delaware. Alerus Financial Corporation and its subsidiaries, or the Company is a diversified financial services company headquartered in Grand Forks, North Dakota. Through its subsidiary, Alerus Financial, National Association, or the Bank, the Company provides innovative and comprehensive financial solutions to businesses and consumers through four distinct business lines – banking, retirement and benefit services, wealth management, and mortgage. The Bank operates under a national charter and provides full banking services. As a national bank, the Bank is subject to regulation by the Office of the Comptroller of Currency and the Federal Deposit Insurance Corporation.
Initial Public Offering	Initial Public Offering On September 17, 2019, the Company sold 2,860,000 shares of common stock in its initial public offering. On September 25, 2019, the Company sold an additional 429,000 shares of common stock pursuant to the exercise in full, by the underwriters, of their option to purchase additional shares. The aggregate offering price for the shares sold by the Company was $69.1 million, and after deducting $4.7 million of underwriting discounts and $1.6 million of offering expenses paid to third parties, the Company received total net proceeds of $62.8 million. Policies which materially affect the determination of financial position, cash flows, and results of operations are summarized below.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries in which the Company has a controlling interest. Significant intercompany balances and transactions have been eliminated in consolidation. In the normal course of business, the Company may enter into a transaction with a variable interest entity, or VIE. VIEs are legal entities whose investors lack the ability to make decisions about the entity’s activities, or whose equity investors do not have the right to receive the residual returns of the entity. The applicable accounting guidance requires the Company to perform ongoing quantitative and qualitative analysis to determine whether it must consolidate any VIE. The Company does not have any ownership interest in or exert any control over any VIE, and thus no VIEs are included in the consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include the valuation of investment securities, determination of the allowance for loan losses, valuation of reporting units for the purpose of testing goodwill and other intangible assets for impairment, valuation of deferred tax assets, and fair values of financial instruments.
Emerging Growth Company	Emerging Growth Company The Company qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012, or the JOBS Act, and may take advantage of certain exemptions from various reporting requirements that are applicable to public companies that are not emerging growth companies, including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. In addition, even if the Company complies with the greater obligations of public companies that are not emerging growth companies, the Company may avail itself of the reduced requirements applicable to emerging growth companies from time to time in the future, so long as the Company is an emerging growth company. The Company will continue to be an emerging growth company until the earliest to occur of: (1) the end of the fiscal year following the fifth anniversary of the date of the first sale of common equity securities under the Company’s Registration Statement on Form S-1, which was declared effective by the U.S. Securities and Exchange Commission, or SEC, on September 12, 2019; (2) the last day of the fiscal year in which the Company has $1.07 billion or more in annual revenues; (3) the date on which the Company is deemed to be a “large accelerated filer” under the Securities Exchange Act of 1934, as amended, or the Exchange Act; or (4) the date on which the Company has, during the previous three-year period, issued publicly or privately, more than $1.0 billion in non-convertible debt securities. Management cannot predict if investors will find the Company’s common stock less attractive because it will rely on the exemptions available to emerging growth companies. If some investors find the Company’s common stock less attractive as a result, there may be a less active trading market for its common stock and the Company’s stock price may be more volatile. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933 for complying with new or revised accounting standards. As an emerging growth company, the Company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company elected to take advantage of the benefits of this extended transition period.
Concentrations of Credit Risk	Concentrations of Credit Risk Substantially all of the Company’s lending activities are with clients located within North Dakota, Minnesota, and Arizona. At December 31, 2021 and 2020 respectively, 24.8% and 35.0% of the Company’s loan portfolio consisted of commercial and industrial loans that were not secured by real estate. The Company does not have any significant loan concentrations in any one industry or with any one client. Note 6 discusses the Company’s loan portfolio. The Company invests in a variety of investment securities and does not have any significant concentrations in any one industry or to any one issuer. Note 5 discusses the Company’s investment securities portfolio.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, cash and due from banks includes cash and cash equivalents, balances due from banks, and federal funds sold, all of which have an original maturity within 90 days. Cash flows from loans and deposits are reported net. Interest-bearing deposits in banks are carried at cost.
Investment Securities	Investment Securities Debt securities that are held for short-term resale are classified as trading securities and carried at estimated fair value, with increases and decreases in estimated fair value recognized in net gains (losses) on investment securities within the statements of income. Other marketable securities are classified as available-for-sale and are carried at estimated fair value. Realized gains (losses) on investment securities available-for-sale are included in net gains (losses) on investment securities and, when applicable, are reported as a reclassification adjustment, net of tax, in other comprehensive income. Gains (losses) on sales of investment securities are determined using the specific identification method on the trade date. The amortization of premiums and accretion of discounts are recognized in interest income using methods approximating the interest method over the period to maturity. Declines in the estimated fair value of individual available-for-sale investment securities below their cost that are other than temporary, result in write-downs of the individual investment securities to their estimated fair value. The Company monitors the investment security portfolio for impairment on an individual security basis and has a process in place to identify investment securities that could potentially have a credit impairment that is other than temporary. This process involves analyzing the length of time and the extent to which the estimated fair value has been less than the amortized cost basis, the market liquidity for the security, the financial condition and near-term prospects of the issuer, expected cash flows, and the Company’s intent and ability to hold the investment for a period of time sufficient to recover the temporary loss. The ability to hold is determined by whether it is more likely than not that the Company will be required to sell the security before its anticipated recovery. A decline in value due to a credit event that is considered other than temporary is recorded as a loss in noninterest income. Held-to-maturity securities consist of debt securities, primarily obligations of state and political agencies. Held-to-maturity securities are carried at amortized cost based on the Company’s intent and ability to hold these securities to maturity. Interest earned on held-to-maturity debt securities is included in interest income. Amortization or accretion of premiums and discounts is also recognized in interest income using the effective interest method over the contractual life of the security and is adjusted to reflect actual prepayments. Transfers of debt securities from available-for-sale to held-to-maturity are made at fair value at the date of transfer. Unrealized holding gains and losses at the date of transfer are included in other comprehensive income and in the carrying value of held-to-maturity security are amortized over the remaining life of the security. Equity investments for which readily determinable values are unavailable are carried at cost in other assets on the consolidated balance sheet. Nonmarketable Equity Securities Nonmarketable equity securities include the Bank’s required investments in the stock of the Federal Home Loan Bank of Des Moines, or the FHLB and the Federal Reserve Bank, or the FRB. The Bank is a member of the FHLB as well as its regional FRB. Members are required to own a certain amount of stock based of the level of borrowing and other factors, and may invest in additional amounts. FHLB stock and FRB stock are carried at cost, classified as other assets, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.
Loans Held for Sale/Branch Sale	Loans Held for Sale/Branch Sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by charges to income. Gains (losses) on loan sales are recorded in mortgage banking revenue on the consolidated statements of income.
Loans	Loans Loans are stated at the amount of unpaid principal, reduced by an allowance for loan losses. Loans that management has the intent and ability to hold for the foreseeable future, until maturity or pay-off, generally are reported at their outstanding unpaid principal balances adjusted for charge-offs, and the allowance for loan losses. Loan fees received that are associated with originating or acquiring certain loans are deferred, net of costs, and amortized over the life of the loan as a yield adjustment to interest income. The accrual of interest on loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Consumer loans are typically charged-off no later than 120 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest in considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual or charged-off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses (allowance) is an estimate of loan losses inherent in the Company’s loan portfolio. The allowance is established through a provision for loan losses which is charged to expense. Additions to the allowance are expected to maintain the adequacy of the total allowance after loan losses and loan growth. Loan losses are charged-off against the allowance when the Company determines the loan balance to be uncollectible. Cash received on previously charged-off amounts is recorded as a recovery to the allowance. The allowance consists of three primary components, general reserves, specific reserves related to impaired loans, and unallocated reserves. The general component covers non-impaired loans and is based on historical losses adjusted for current qualitative factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent five years. This actual loss experience is adjusted for economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. These factors are inherently subjective and are driven by the repayment risk associated with each portfolio segment. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Loans determined to be impaired are individually evaluated for impairment. When a loan is impaired, the Company measures impairment based on the present value of expected future cash flows discounted at the original contractual interest rate, except that as a practical expedient, it may measure impairment based on an observable market price for the estimated fair value of the collateral if collateral dependent. A loan is collateral dependent if the repayment is expected to be provided solely by the underlying collateral. Allowance allocations other than general and specific are included in the unallocated portion. While allocations are made for loans based upon historical loss analysis, the unallocated portion is designed to cover the uncertainty of how current economic conditions and other uncertainties may impact the existing loan portfolio. Factors to consider include national and state economic conditions such as unemployment or real estate lending values. The unallocated reserve addresses inherent probable losses not included elsewhere in the allowance for loan losses. The Company maintains a separate general valuation allowance for each portfolio segment. These portfolio segments include commercial and industrial, real estate construction, commercial real estate, residential real estate first mortgage, residential real estate junior liens, and other revolving and installment with risk characteristics described as follows: Commercial and Industrial: Real Estate Construction: Commercial Real Estate: Residential real estate first and junior liens: Other Revolving and Installment: Although management believes the allowance to be adequate, actual losses may vary from its estimates. On a quarterly basis, management reviews the adequacy of the allowance, including consideration of the relevant risks in the portfolio, current economic conditions, and other factors. If the board of directors and management determine that changes are warranted based on those reviews, the allowance is adjusted.
Off-Balance Sheet Credit Related Financial Instruments	Off-Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Company enters into commitments to extend credit, including commitments under credit arrangements, commercial letters of credit, and standby letters of credit. Such financial instruments are recorded when they are funded. The Company establishes a reserve for unfunded commitments using historical loss data and utilization assumptions. This reserve is located under accrued expenses and other liabilities on the Consolidated Balance Sheets.
Land, Premises and Equipment, Net	Land, Premises and Equipment, Net Land is carried at cost. Other premises and equipment are carried at cost net of accumulated depreciation. Depreciation is computed on a straight-line method based principally on the estimated useful lives of the assets. Maintenance and repairs are expensed as incurred while major additions and improvements are capitalized. Gains (losses) on dispositions are included in current operations.
Bank-Owned Life Insurance	Bank-Owned Life Insurance The Company has purchased life insurance policies on certain key executives. Bank-owned life insurance is recorded at its cash surrender value, or the amount that can be realized, if lower.
Goodwill and Other Intangibles, Net	Goodwill and Other Intangibles, Net Goodwill resulting from acquisitions is not amortized, but is tested for impairment annually. As part of its testing, the Company first assesses the qualitative factors to determine whether it is more likely than not that the estimated fair value of a reporting unit is less than its carrying amount. If the Company determines the estimated fair value of a reporting unit is less than its carrying amount using these qualitative factors, the Company then compares the estimated fair value of the goodwill with its carrying amount, and then measures impairment loss by comparing the estimated fair value of goodwill with the carrying amount of that goodwill. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. At December 31, 2021, the Company believes it did not have any indications of potential impairment based on the estimated fair value of the reporting units. Intangible assets determined to have definite lives are amortized over the remaining useful lives. Intangible and other long-lived assets are reviewed for impairment whenever events occur or circumstances indicate that the carrying amount may not be recoverable.
Servicing Rights	Servicing Rights Servicing rights are recognized as separate assets when rights are acquired through the sale of loans. Servicing rights are initially recorded at estimated fair value based on assumptions provided by a third-party valuation service. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as servicing cost per loan, the discount rate, the escrow float rate, an inflation rate, ancillary income, prepayment speeds, and default rates and losses. Loan servicing income is recorded on the accrual basis and includes servicing fees from investors and certain charges collected from borrowers, such as late payment fees, and is net of estimated fair value adjustments to capitalized mortgage servicing rights. Capitalized servicing rights are amortized into noninterest income in proportion to, and over the period of, the estimated future servicing income of the underlying loans. Servicing rights are evaluated for impairment based upon the estimated fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights by predominant characteristics, such as interest rates and terms. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that estimated fair value is less than the capitalized amount for the tranche. If the Company later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may be recorded as an increase to income. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. The amortization of servicing rights is netted against loan servicing fee income.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company tests long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. In the event such an asset is considered impaired, the impairment to be recognized is measured by the amount by which the carrying value of the asset exceeds the estimated fair value of the asset. Assets to be disposed of are reported at the lower of the carrying value of estimated fair value less estimated costs to sell.
Foreclosed Assets	Foreclosed Assets Assets acquired through loan foreclosure are included in other assets and are initially recorded at estimated fair value less estimated selling costs. The estimated fair value of foreclosed assets is evaluated regularly and any decreases in value along with holding costs, such as taxes, insurance and utilities, are reported in noninterest expense.
Transfers of Financial Assets and Participating Interests	Transfers of Financial Assets and Participating Interests Transfers of financial assets are accounted for as sales when control over assets has been surrendered or in the case of loan participation, a portion of the asset has been surrendered and meets the definition of a “participating interest.” Control over transferred assets is deemed to be surrendered when 1) the assets have been isolated from the Company, 2) the transferee obtains the rights to pledge or exchange the transferred assets, and 3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Should the transfer not meet these three criteria, the transaction is treated as a secured financing. Loans serviced for others are not included in the accompanying consolidated balance sheets. Servicing loans for others generally consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors and collection and foreclosure processing.
Derivatives and Hedging Activities	Derivatives and Hedging Activities In the ordinary course of business, the Company enters into derivative transactions to manage various risks and to accommodate the business requirements of its clients. Derivative instruments are reported in other assets or other liabilities at estimated fair value. Changes in a derivative’s estimated fair value are recognized currently in earnings unless specific hedge accounting criteria are met.
Noninterest Income	Noninterest Income Specific guidelines are established for recognition of certain noninterest income components related to the Company’s consolidated financial statements. In accordance with Topic 606, revenues are recognized when control of promised goods or services is transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of Topic 606, the Company performs the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of Topic 606, the Company assesses the goods or services that are promised within each contract and identifies those that contain performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. The material groups of noninterest income that this methodology is applied to are defined as follows: Retirement and benefit services: Wealth management: Service charges on deposit accounts: Other noninterest income:
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred.
Tax Credit Investments	Tax Credit Investments The Company invests in qualified affordable housing projects for the purpose of community reinvestment and obtaining tax credits. These investments are included in other assets on the balance sheet, and any unfunded commitments in accrued expenses and other liabilities on the balance sheet. The qualified affordable housing projects are accounted for under the proportional amortization method. Under the proportional amortization method, the initial cost of the investment is recognized over the period that the Company expects to receive the tax credits, with the expense included within income tax expense on the consolidated statements of income. Management analyzes these investments for potential impairment when events or changes in circumstances indicate that it is more likely than not that the carrying amount of the investment will not be realized. An impairment loss is measured as the amount by which the carrying amount of an investment exceeds its fair value.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance would be recognized if it is “more likely than not” that the deferred tax asset would not be realized. These calculations are based on many complex factors including estimates of the timing of reversals of temporary differences, the interpretation of federal and state income tax laws, and a determination of the differences between the tax and the financial reporting basis of assets and liabilities. Actual results could differ significantly from the estimates and interpretations used in determining the current and deferred income tax liabilities. The Company follows standards related to Accounting for Uncertainty in Income Taxes. These rules establish a higher standard for tax benefits to meet before they can be recognized in a Company’s consolidated financial statements. The Company can recognize in financial statements the impact of a tax position taken, or expected to be taken, if it is more likely than not that the position will be sustained on an audit based on the technical merit of the position. See Note 20 (Income Taxes) for additional disclosures. The Company recognizes both interest and penalties as components of other operating expenses. The amount of the uncertain tax position was not determined to be material. It is not expected that the unrecognized tax benefit will be material within the next 12 months. The Company did not incur any interest or penalties in 2021, 2020, or 2019. The Company files consolidated federal and state income tax returns. The Company is no longer subject to U.S. federal or state tax examinations by tax authorities for years before 2018.
Comprehensive Income	Comprehensive Income Recognized revenue, expenses, gains, and losses are included in net income. Certain changes in assets and liabilities, such as unrealized gains (losses) on investment securities available-for-sale, are reported as a separate component of the equity section of the consolidated balance sheets, such items, along with net income, are components of comprehensive income.
Stock Compensation Plans	Stock Compensation Plans Stock compensation accounting guidance requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. The cost will be measured based on the grant date estimated fair value of the equity or liability instruments issued. The grant date estimated fair value is determined using the closing price of the Company’s common stock. The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employee’s service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award.
Earnings per Share	Earnings per Share Earnings per share are calculated utilizing the two-class method. Basic earnings per share is calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted-average number of common shares outstanding. Diluted earnings per share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted-average number of shares adjusted for the dilutive effect of common stock awards.
New Accounting Pronouncements	Adopted Pronouncements In August 2018, the FASB issued ASU No. 2018-15, Intangibles – Goodwill and Other – Internal Use Software (Subtopic 350-40) – Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by these amendments. ASU 2018-15 was effective for the Company on January 1, 2020 and did not have an impact on the Company’s consolidated financial statements. In January 2020, the FASB issued ASU No. 2020-01, Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) – Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. The ASU is based on a consensus of the Emerging Issues Task Force and is expected to increase comparability in accounting for these transactions. ASU 2016-01 made targeted improvements to accounting for financial instruments, including providing an entity the ability to measure certain equity securities without a readily determinable fair value at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Among other topics, the amendments clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting. For public business entities, the amendments in the ASU are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. The Company adopted ASU 2020-01 as of January 1, 2021 and the implementation had no impact on its consolidated financial statements. In August 2021, the FASB issued ASU No. 2021-06, Presentation of Financial Statements (Topic 205), Financial Services – Depository and Lending (Topic 942), and Financial Services – Investment Companies (Topic 946) to provide amendments to SEC paragraphs pursuant to SEC Final Rule Releases No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Business, and No. 33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants. It was effective upon issuance. The amendments did not have an impact on the Company’s consolidated financial statements. Pronouncements Not Yet Effective In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU requires a new impairment model known as the current expected credit loss, or CECL which significantly changes the way impairment of financial instruments is recognized by requiring immediate recognition of estimated credit losses expected to occur over the remaining life of financial instruments. The main provisions of ASU 2016-13 include (1) replacing the “incurred cost” approach under GAAP with an “expected loss” model for instruments measured at amortized cost, (2) requiring entities to record an allowance for credit losses related to available-for-sale debt securities rather than a direct write-down of the carrying amount of the investments, as is required by the other-than-temporary impairment model under current GAAP, and (3) a simplified accounting model for purchase credit-impaired debt securities and loans. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments – Credit Losses (Topic 326). This update amends the effective date of ASU No. 2016-13 for certain entities, including private companies and smaller reporting companies, until fiscal years beginning after December 15, 2022, including interim periods within those fiscal periods. Early adoption is permitted. As an emerging growth company, the Company can take advantage of this delay and plans to adopt the standard with the amended effective date. The Company does not plan to early adopt this standard but continues to work on its implementation. The Company continues collecting and retaining loan and credit data and evaluating various loss estimation models. While we currently cannot reasonably estimate the impact of adopting this standard, we expect the impact will be influenced by the composition, characteristics, and quality of our loan portfolio, as well as the general economic conditions and forecasts as of the adoption date. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments, which affects a variety of topics in the Codification and applies to all reporting entities within the scope of the affected accounting guidance. This update is not expected to have a significant impact on the Company’s consolidated financial statements. In May 2019, the FASB issued ASU No. 2019-05, Targeted Transition Relief to provide entities with an option to irrevocably elect the fair value option applied on an instrument-by-instrument basis for eligible instruments. In November 2019, the FASB issued ASU 2019-10, which amends the effective date of this ASU for certain entities, including private companies and smaller reporting companies until after December 15, 2022, including interim periods within those fiscal years. As an emerging growth company, the Company can take advantage of this delay and plans to adopt the standard with the amended effective date. This update is not expected to have a significant impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740), which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 by clarifying and amending existing guidance. This guidance is effective for fiscal years, and interim periods within those fiscal years beginning after and interim periods within those fiscal years beginning after December 15, 2020, for public business entities. For private companies and smaller reporting companies, this guidance is effective for fiscal years, and interim periods within those fiscal years beginning after December 15, 2021. As an emerging growth company, the Company can take advantage of this later effective date. Early adoption of the amendments is permitted including adoption in any interim period for which financial statements have not yet been issued. Depending on the amendment, adoption may be applied on the retrospective, modified retrospective, or prospective basis. The Company does not expect adoption of this guidance to have a material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments. This ASU represents changes to clarify or improve the Accounting Standards Codification, or ASU, related to seven topics. The amendments make the ASC easier to understand and easier to apply by eliminating inconsistencies and providing clarifications. Issues 1, 2, 3, 4 and 5 are conforming amendments and for public business entities effective upon the issuance of the standard. Issues 6 and 7 are amendments that affect the guidance in ASU 2016-13. The Company will consider these clarifications and improvements in determining the appropriate adoption of ASU 2016-13. In October 2020, the FASB issued ASU No. 2020-10, Codification Improvements removing Section A which included issues 1-16 because the issues in that section will be addressed in a separate ASU. The Company will not be affected by ASU 2020-03 for any remaining sections and will continue to review new standards as they are issued. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. These amendments provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022. In January 2021, the FASB issue ASU 2021-01. Reference Rate Reform (Topic 848) in response to concerns about structural risks in accounting for reference rate reform. The ASU clarifies certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that affected by the discontinuing transition. The Company is assessing both of the ASU’s and their impact on the Company’s transition away from LIBOR for its loan and other financial instruments.

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combinations
Schedule of recognized identified assets acquired and liabilities assumed	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As recorded by ​ Fair Value ​ As recorded by (dollars in thousands) RPS Adjustments the Company Assets ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 513 ​ $ — ​ $ 513 Land premises and equipment, net ​ ​ 16 ​ ​ (16) ​ ​ — Other intangible assets ​ ​ 99 ​ ​ 11,390 ​ ​ 11,489 Other assets ​ ​ 304 ​ ​ (38) ​ ​ 266 Total assets ​ ​ 932 ​ ​ 11,336 ​ ​ 12,268 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ Other liabilities ​ ​ 1,418 ​ ​ 3,930 ​ ​ 5,348 Total liabilities ​ ​ 1,418 ​ ​ 3,930 ​ ​ 5,348 Excess assets over liabilities ​ $ (486) ​ $ 7,406 ​ ​ 6,920 Cash paid for RPS ​ ​ ​ ​ ​ ​ ​ ​ 9,792 Total goodwill recorded ​ ​ ​ ​ ​ ​ ​ $ 2,872

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2021
Investment Securities
Schedule of amortized cost of investment securities to estimated fair values	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (dollars in thousands) Cost ​ Gains ​ Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ 5,028 ​ $ 75 ​ $ — ​ $ 5,103 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 717,781 ​ 1,213 ​ (11,837) ​ 707,157 Commercial ​ 88,362 ​ 2,674 ​ (123) ​ 90,913 Asset backed securities ​ 52 ​ 2 ​ — ​ 54 Corporate bonds ​ 49,035 ​ 1,398 ​ (11) ​ 50,422 Total available-for-sale investment securities ​ ​ 860,258 ​ ​ 5,362 ​ ​ (11,971) ​ ​ 853,649 Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ ​ 144,543 ​ 1,110 ​ (349) ​ 145,304 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ 207,518 ​ — ​ (3,145) ​ 204,373 Total held-to-maturity investment securities ​ ​ 352,061 ​ ​ 1,110 ​ ​ (3,494) ​ ​ 349,677 Total investment securities ​ $ 1,212,319 ​ $ 6,472 ​ $ (15,465) ​ $ 1,203,326 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (dollars in thousands) Cost ​ Gains ​ Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ 5,926 ​ $ — ​ $ (19) ​ $ 5,907 Obligations of state and political agencies ​ 148,491 ​ 5,282 ​ — ​ 153,773 Mortgage backed securities ​ ​ ​ ​ ​ ​ Residential agency ​ 303,760 ​ 3,395 ​ (436) ​ 306,719 Commercial ​ 89,300 ​ 5,678 ​ — ​ 94,978 Asset backed securities ​ 109 ​ 6 ​ — ​ 115 Corporate bonds ​ 30,552 ​ 388 ​ (90) ​ 30,850 Total available-for-sale investment securities ​ $ 578,138 ​ $ 14,749 ​ $ (545) ​ $ 592,342
Schedule of contractual maturity of amortized cost and estimated fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity ​ Available-for-sale ​ ​ Carrying ​ Fair ​ Amortized ​ Fair (dollars in thousands) Value ​ Value ​ Cost Value Due within one year or less ​ $ 4,819 ​ $ 4,817 ​ $ 2 ​ $ 2 Due after one year through five years ​ 34,896 ​ 34,769 ​ 2,809 ​ 2,883 Due after five years through ten years ​ 74,002 ​ 74,581 ​ 96,263 ​ 99,243 Due after 10 years ​ 238,344 ​ 235,510 ​ 761,184 ​ 751,521 Total investment securities ​ $ 352,061 ​ $ 349,677 ​ $ 860,258 ​ $ 853,649
Schedule of proceeds from the sale of available for sale securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2021 2020 2019 Proceeds ​ $ 13,189 ​ $ 75,647 ​ $ 32,565 Realized gains ​ 114 ​ 2,737 ​ ​ 357 Realized losses ​ — ​ — ​ ​ (22)
Schedule of investment securities with gross unrealized losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Less than 12 Months ​ Over 12 Months ​ Total ​ ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair (dollars in thousands) Losses Value Losses Value Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Mortgage backed securities ​ ​ ​ ​ ​ ​ Residential agency ​ (10,156) ​ 554,811 ​ (1,681) ​ 55,082 ​ (11,837) ​ 609,893 Commercial ​ (123) ​ 17,470 ​ — ​ — ​ (123) ​ 17,470 Asset backed securities ​ — ​ — ​ — ​ 2 ​ — ​ 2 Corporate bonds ​ (11) ​ 5,989 ​ — ​ — ​ (11) ​ 5,989 Total available-for-sale investment securities ​ ​ (10,290) ​ ​ 578,270 ​ ​ (1,681) ​ ​ 55,084 ​ ​ (11,971) ​ ​ 633,354 Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ ​ (349) ​ ​ 53,210 ​ ​ — ​ ​ — ​ ​ (349) ​ ​ 53,210 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ (3,145) ​ ​ 204,373 ​ ​ — ​ ​ — ​ ​ (3,145) ​ ​ 204,373 Total held-to-maturity investment securities ​ ​ (3,494) ​ ​ 257,583 ​ ​ — ​ ​ — ​ ​ (3,494) ​ ​ 257,583 Total investment securities ​ $ (13,784) ​ $ 835,853 ​ $ (1,681) ​ $ 55,084 ​ $ (15,465) ​ $ 890,937 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Less than 12 Months ​ Over 12 Months ​ Total ​ ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair (dollars in thousands) Losses Value Losses Value Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ (10) ​ $ 4,509 ​ $ (9) ​ $ 1,309 ​ $ (19) ​ $ 5,818 Obligations of state and political agencies ​ — ​ — ​ — ​ — ​ — ​ — Mortgage backed securities ​ ​ ​ ​ ​ ​ Residential agency ​ (432) ​ 68,494 ​ (4) ​ 2,356 ​ (436) ​ 70,850 Commercial ​ — ​ — ​ — ​ — ​ — ​ — Asset backed securities ​ — ​ — ​ — ​ 2 ​ — ​ 2 Corporate bonds ​ (90) ​ 16,454 ​ — ​ — ​ (90) ​ 16,454 Total available-for-sale investment securities ​ $ (532) ​ $ 89,457 ​ $ (13) ​ $ 3,667 ​ $ (545) ​ $ 93,124
Schedule of federal home loan bank	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Federal Reserve ​ $ 2,675 ​ $ 2,675 FHLB ​ 3,806 ​ 3,090

Loans and Allowance for Loan _2

Loans and Allowance for Loan Losses (Tables)	12 Months Ended
	Dec. 31, 2021
Loans and Allowance for Loan Losses
Schedule of total loans outstanding by portfolio segment	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) 2021 2020 Commercial ​ ​ ​ ​ ​ ​ Commercial and industrial (1) ​ $ 436,761 ​ $ 691,858 Real estate construction ​ 40,619 ​ 44,451 Commercial real estate ​ 598,893 ​ 563,007 Total commercial ​ 1,076,273 ​ 1,299,316 Consumer ​ ​ Residential real estate first mortgage ​ 510,716 ​ 463,370 Residential real estate junior lien ​ 125,668 ​ 143,416 Other revolving and installment ​ 45,363 ​ 73,273 Total consumer ​ 681,747 ​ 680,059 Total loans ​ $ 1,758,020 ​ $ 1,979,375 (1) Includes PPP loans of $33.6 million at December 31, 2021 and $268.4 million at December 31, 2020. ​
Schedule of past due aging analysis of the loan portfolio	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ ​ ​ Accruing ​ 30 - 89 Days ​ or More ​ ​ ​ ​ Total (dollars in thousands) Current Past Due Past Due Nonaccrual Loans Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 435,135 ​ $ 168 ​ $ 121 ​ $ 1,337 ​ $ 436,761 Real estate construction ​ 40,619 ​ — ​ — ​ — ​ 40,619 Commercial real estate ​ 598,264 ​ — ​ — ​ 629 ​ 598,893 Total commercial ​ 1,074,018 ​ 168 ​ 121 ​ 1,966 ​ 1,076,273 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 508,925 ​ 1,770 ​ — ​ 21 ​ 510,716 Residential real estate junior lien ​ 125,412 ​ 167 ​ — ​ 89 ​ 125,668 Other revolving and installment ​ 45,242 ​ 121 ​ — ​ — ​ 45,363 Total consumer ​ 679,579 ​ 2,058 ​ — ​ 110 ​ 681,747 Total loans ​ $ 1,753,597 ​ $ 2,226 ​ $ 121 ​ $ 2,076 ​ $ 1,758,020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ ​ ​ Accruing ​ 30 - 89 Days ​ or More ​ ​ ​ ​ Total (dollars in thousands) Current Past Due Past Due Nonaccrual Loans Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 689,340 ​ $ 500 ​ $ 30 ​ $ 1,988 ​ $ 691,858 Real estate construction ​ 44,451 ​ — ​ — ​ — ​ 44,451 Commercial real estate ​ 558,127 ​ 2,449 ​ — ​ 2,431 ​ 563,007 Total commercial ​ 1,291,918 ​ 2,949 ​ 30 ​ 4,419 ​ 1,299,316 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 461,179 ​ 1,752 ​ — ​ 439 ​ 463,370 Residential real estate junior lien ​ 143,060 ​ 191 ​ — ​ 165 ​ 143,416 Other revolving and installment ​ 73,128 ​ 118 ​ — ​ 27 ​ 73,273 Total consumer ​ 677,367 ​ 2,061 ​ — ​ 631 ​ 680,059 Total loans ​ $ 1,969,285 ​ $ 5,010 ​ $ 30 ​ $ 5,050 ​ $ 1,979,375
Schedule of loans outstanding, by portfolio segment and risk category	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Criticized ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) Pass Mention Substandard Doubtful Total Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 430,235 ​ $ 480 ​ $ 6,046 ​ $ — ​ $ 436,761 Real estate construction ​ 40,619 ​ — ​ — ​ — ​ 40,619 Commercial real estate ​ 585,291 ​ — ​ 13,602 ​ — ​ 598,893 Total commercial ​ ​ 1,056,145 ​ ​ 480 ​ ​ 19,648 ​ ​ — ​ ​ 1,076,273 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 510,375 ​ — ​ 341 ​ — ​ 510,716 Residential real estate junior lien ​ 124,898 ​ — ​ 770 ​ — ​ 125,668 Other revolving and installment ​ 45,363 ​ — ​ — ​ — ​ 45,363 Total consumer ​ 680,636 ​ — ​ 1,111 ​ — ​ 681,747 Total loans ​ $ 1,736,781 ​ $ 480 ​ $ 20,759 ​ $ — ​ $ 1,758,020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ Criticized ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) Pass Mention Substandard Doubtful Total Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 669,602 ​ $ 5,415 ​ $ 16,841 ​ $ — ​ $ 691,858 Real estate construction ​ 44,451 ​ — ​ — ​ — ​ 44,451 Commercial real estate ​ 533,733 ​ 6,686 ​ 22,588 ​ — ​ 563,007 Total commercial ​ ​ 1,247,786 ​ ​ 12,101 ​ ​ 39,429 ​ ​ — ​ ​ 1,299,316 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 461,221 ​ 1,406 ​ 743 ​ — ​ 463,370 Residential real estate junior lien ​ 140,461 ​ 1,819 ​ 1,136 ​ — ​ 143,416 Other revolving and installment ​ 73,236 ​ — ​ 37 ​ — ​ 73,273 Total consumer ​ 674,918 ​ 3,225 ​ 1,916 ​ — ​ 680,059 Total loans ​ $ 1,922,704 ​ $ 15,326 ​ $ 41,345 ​ $ — ​ $ 1,979,375
Summary of changes in allowances	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ ​ Beginning ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance Loan Losses Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 10,205 ​ $ (1,710) ​ $ (1,230) ​ $ 1,660 ​ $ 8,925 Real estate construction ​ ​ 658 ​ ​ 125 ​ ​ — ​ ​ — ​ ​ 783 Commercial real estate ​ ​ 14,105 ​ ​ (2,015) ​ ​ (536) ​ ​ 822 ​ ​ 12,376 Total commercial ​ ​ 24,968 ​ ​ (3,600) ​ ​ (1,766) ​ ​ 2,482 ​ ​ 22,084 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 5,774 ​ ​ 758 ​ ​ — ​ ​ — ​ ​ 6,532 Residential real estate junior lien ​ ​ 1,373 ​ ​ (201) ​ ​ — ​ ​ 123 ​ ​ 1,295 Other revolving and installment ​ ​ 753 ​ ​ (259) ​ ​ (156) ​ ​ 143 ​ ​ 481 Total consumer ​ ​ 7,900 ​ ​ 298 ​ ​ (156) ​ ​ 266 ​ ​ 8,308 Unallocated ​ ​ 1,378 ​ ​ (198) ​ ​ — ​ ​ — ​ ​ 1,180 Total ​ $ 34,246 ​ $ (3,500) ​ $ (1,922) ​ $ 2,748 ​ $ 31,572 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2020 ​ ​ Beginning ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance Loan Losses Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 12,270 ​ $ (2,168) ​ $ (4,249) ​ $ 4,352 ​ $ 10,205 Real estate construction ​ 303 ​ 355 ​ — ​ — ​ 658 Commercial real estate ​ 6,688 ​ 8,185 ​ (865) ​ 97 ​ 14,105 Total commercial ​ 19,261 ​ 6,372 ​ (5,114) ​ 4,449 ​ 24,968 Consumer ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 1,448 ​ 4,321 ​ — ​ 5 ​ 5,774 Residential real estate junior lien ​ 671 ​ 507 ​ (12) ​ 207 ​ 1,373 Other revolving and installment ​ 352 ​ 514 ​ (242) ​ 129 ​ 753 Total consumer ​ 2,471 ​ 5,342 ​ (254) ​ 341 ​ 7,900 Unallocated ​ 2,192 ​ (814) ​ — ​ — ​ 1,378 Total ​ $ 23,924 ​ $ 10,900 ​ $ (5,368) ​ $ 4,790 ​ $ 34,246 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2019 ​ ​ Beginning ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance Loan Losses Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 12,127 ​ $ 5,213 ​ $ (6,540) ​ $ 1,470 ​ $ 12,270 Real estate construction ​ 250 ​ 51 ​ (1) ​ 3 ​ 303 Commercial real estate ​ 6,279 ​ 259 ​ — ​ 150 ​ 6,688 Total commercial ​ 18,656 ​ 5,523 ​ (6,541) ​ 1,623 ​ 19,261 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 1,156 ​ 292 ​ — ​ — ​ 1,448 Residential real estate junior lien ​ 805 ​ 99 ​ (465) ​ 232 ​ 671 Other revolving and installment ​ 380 ​ 383 ​ (572) ​ 161 ​ 352 Total consumer ​ 2,341 ​ 774 ​ (1,037) ​ 393 ​ 2,471 Unallocated ​ 1,177 ​ 1,015 ​ — ​ — ​ 2,192 Total ​ $ 22,174 ​ $ 7,312 ​ $ (7,578) ​ $ 2,016 ​ $ 23,924
Schedule of loans distributed by portfolio segment and impairment methodology	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Recorded Investment ​ Allowance for Loan Losses ​ ​ Individually ​ Collectively ​ ​ ​ ​ Individually ​ Collectively ​ ​ ​ (dollars in thousands) Evaluated Evaluated Total Evaluated Evaluated Total Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 1,831 ​ $ 434,930 ​ $ 436,761 ​ $ 278 ​ $ 8,647 ​ $ 8,925 Real estate construction ​ — ​ 40,619 ​ 40,619 ​ ​ — ​ ​ 783 ​ ​ 783 Commercial real estate ​ 809 ​ 598,084 ​ 598,893 ​ ​ 5 ​ ​ 12,371 ​ ​ 12,376 Total commercial ​ 2,640 ​ 1,073,633 ​ 1,076,273 ​ ​ 283 ​ ​ 21,801 ​ ​ 22,084 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 21 ​ 510,695 ​ 510,716 ​ ​ — ​ ​ 6,532 ​ ​ 6,532 Residential real estate junior lien ​ 91 ​ 125,577 ​ 125,668 ​ ​ — ​ ​ 1,295 ​ ​ 1,295 Other revolving and installment ​ — ​ 45,363 ​ 45,363 ​ ​ — ​ ​ 481 ​ ​ 481 Total consumer ​ 112 ​ 681,635 ​ 681,747 ​ ​ — ​ ​ 8,308 ​ ​ 8,308 Unallocated ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,180 Total loans ​ $ 2,752 ​ $ 1,755,268 ​ $ 1,758,020 ​ $ 283 ​ $ 30,109 ​ $ 31,572 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Recorded Investment ​ Allowance for Loan Losses ​ ​ Individually ​ Collectively ​ ​ ​ ​ Individually ​ Collectively ​ ​ ​ (dollars in thousands) Evaluated Evaluated Total Evaluated Evaluated Total Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 2,616 ​ $ 689,242 ​ $ 691,858 ​ $ 336 ​ $ 9,869 ​ $ 10,205 Real estate construction ​ — ​ 44,451 ​ 44,451 ​ ​ — ​ ​ 658 ​ ​ 658 Commercial real estate ​ 5,224 ​ 557,783 ​ 563,007 ​ ​ 837 ​ ​ 13,268 ​ ​ 14,105 Total commercial ​ 7,840 ​ 1,291,476 ​ 1,299,316 ​ ​ 1,173 ​ ​ 23,795 ​ ​ 24,968 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 439 ​ 462,931 ​ 463,370 ​ ​ — ​ ​ 5,774 ​ ​ 5,774 Residential real estate junior lien ​ 224 ​ ​ 143,192 ​ 143,416 ​ ​ 19 ​ ​ 1,354 ​ ​ 1,373 Other revolving and installment ​ 27 ​ 73,246 ​ 73,273 ​ ​ 13 ​ ​ 740 ​ ​ 753 Total consumer ​ 690 ​ 679,369 ​ 680,059 ​ ​ 32 ​ ​ 7,868 ​ ​ 7,900 Unallocated ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,378 Total loans ​ $ 8,530 ​ $ 1,970,845 ​ $ 1,979,375 ​ $ 1,205 ​ $ 31,663 ​ $ 34,246
Schedule of impaired loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 ​ ​ Recorded ​ Unpaid ​ Related Recorded ​ Unpaid ​ Related (dollars in thousands) Investment Principal Allowance Investment Principal Allowance Impaired loans with a valuation allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 445 ​ $ 464 ​ $ 278 ​ $ 723 ​ $ 725 ​ $ 336 Commercial real estate ​ 180 ​ 203 ​ 5 ​ 3,948 ​ 3,974 ​ 837 Residential real estate junior lien ​ — ​ — ​ ​ — ​ ​ 19 ​ 20 ​ ​ 19 Other revolving and installment ​ — ​ — ​ — ​ ​ 27 ​ 27 ​ 13 Total impaired loans with a valuation allowance ​ ​ 625 ​ ​ 667 ​ ​ 283 ​ ​ 4,717 ​ ​ 4,746 ​ ​ 1,205 Impaired loans without a valuation allowance ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 1,386 ​ ​ 1,575 ​ ​ — ​ ​ 1,893 ​ ​ 2,173 ​ ​ — Commercial real estate ​ 629 ​ ​ 684 ​ — ​ ​ 1,276 ​ 1,415 ​ — Residential real estate first mortgage ​ 21 ​ 24 ​ — ​ ​ 439 ​ 464 ​ — Residential real estate junior lien ​ 91 ​ 120 ​ — ​ ​ 205 ​ 306 ​ — Other revolving and installment ​ — ​ — ​ — ​ ​ — ​ — ​ — Total impaired loans without a valuation allowance ​ ​ 2,127 ​ ​ 2,403 ​ ​ — ​ ​ 3,813 ​ ​ 4,358 ​ ​ — Total impaired loans ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 1,831 ​ ​ 2,039 ​ ​ 278 ​ ​ 2,616 ​ ​ 2,898 ​ ​ 336 Commercial real estate ​ 809 ​ 887 ​ 5 ​ 5,224 ​ 5,389 ​ 837 Residential real estate first mortgage ​ ​ 21 ​ ​ 24 ​ ​ — ​ ​ 439 ​ ​ 464 ​ ​ — Residential real estate junior lien ​ 91 ​ 120 ​ — ​ 224 ​ 326 ​ 19 Other revolving and installment ​ — ​ — ​ — ​ 27 ​ 27 ​ 13 Total impaired loans ​ $ 2,752 ​ $ 3,070 ​ $ 283 ​ $ 8,530 ​ $ 9,104 ​ $ 1,205 ​ The table below presents the average recorded investment in impaired loans and interest income for the three years ending December 31, 2021, 2020, and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2021 ​ 2020 ​ 2019 ​ ​ Average ​ ​ ​ ​ Average ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Recorded ​ Interest ​ Recorded ​ Interest ​ Recorded ​ Interest (dollars in thousands) Investment Income Investment Income Investment Income Impaired loans with a valuation allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 517 ​ $ 13 ​ $ 765 ​ $ 14 ​ $ 839 ​ $ 16 Commercial real estate ​ 187 ​ 7 ​ 3,972 ​ 138 ​ ​ 5,891 ​ — Residential real estate junior lien ​ — ​ — ​ 19 ​ — ​ ​ — ​ — Other revolving and installment ​ — ​ — ​ 28 ​ — ​ ​ 20 ​ — Total impaired loans with a valuation allowance ​ ​ 704 ​ ​ 20 ​ ​ 4,784 ​ ​ 152 ​ ​ 6,750 ​ ​ 16 Impaired loans without a valuation allowance ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 1,988 ​ ​ 20 ​ ​ 4,151 ​ ​ 25 ​ ​ 2,434 ​ ​ 30 Commercial real estate ​ 672 ​ — ​ 1,614 ​ — ​ ​ 212 ​ 8 Residential real estate first mortgage ​ 23 ​ — ​ 461 ​ — ​ ​ 230 ​ — Residential real estate junior lien ​ 98 ​ — ​ 234 ​ ​ 3 ​ ​ 338 ​ ​ 4 Other revolving and installment ​ 1 ​ — ​ — ​ — ​ ​ 3 ​ — Total impaired loans without a valuation allowance ​ ​ 2,782 ​ ​ 20 ​ ​ 6,460 ​ ​ 28 ​ ​ 3,217 ​ ​ 42 Total impaired loans ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 2,505 ​ ​ 33 ​ ​ 4,916 ​ ​ 39 ​ ​ 3,273 ​ ​ 46 Commercial real estate ​ 859 ​ 7 ​ 5,586 ​ 138 ​ ​ 6,103 ​ 8 Residential real estate first mortgage ​ 23 ​ — ​ 461 ​ — ​ ​ 230 ​ — Residential real estate junior lien ​ 98 ​ — ​ 253 ​ 3 ​ ​ 338 ​ 4 Other revolving and installment ​ 1 ​ — ​ 28 ​ — ​ ​ 23 ​ — Total impaired loans ​ $ 3,486 ​ $ 40 ​ $ 11,244 ​ $ 180 ​ $ 9,967 ​ $ 58

Land, Premises and Equipment,_2

Land, Premises and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Land, Premises and Equipment, Net
Schedule of Components of land, premises and equipment, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Land ​ $ 4,542 ​ $ 4,542 Buildings and improvements ​ 25,633 ​ 25,391 Finance lease ​ ​ 2,657 ​ ​ 2,657 Furniture, fixtures, and equipment ​ 35,063 ​ 33,598 ​ ​ 67,895 ​ 66,188 Less accumulated depreciation ​ (49,525) ​ (45,899) Total ​ $ 18,370 ​ $ 20,289

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Other Intangible Assets
Schedule of goodwill by segment	The following table summarizes the carrying amounts of goodwill, by segment, as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Banking ​ $ 20,131 ​ $ 20,131 Retirement and benefit services ​ ​ 11,359 ​ ​ 10,070 Total goodwill ​ $ 31,490 ​ $ 30,201
Schedule of identifiable intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 (dollars in thousands) Gross Carrying Amount Accumulated Amortization Total Gross Carrying Amount Accumulated Amortization Total Identifiable customer intangibles ​ $ 42,057 ​ $ (21,807) ​ $ 20,250 ​ $ 43,346 ​ $ (17,490) ​ $ 25,856 Core deposit intangible assets ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,793 ​ ​ (3,730) ​ ​ 63 Total intangible assets ​ $ 42,057 ​ $ (21,807) ​ $ 20,250 ​ $ 47,139 ​ $ (21,220) ​ $ 25,919
Schedule of amortization expense	​ ​ ​ ​ ​ (dollars in thousands) Amount 2022 ​ $ 4,212 2023 ​ ​ 4,212 2024 ​ ​ 3,959 2025 ​ ​ 2,820 2026 ​ ​ 1,010 Thereafter ​ ​ 4,037 Total ​ $ 20,250

Loan Servicing (Tables)

Loan Servicing (Tables)	12 Months Ended
	Dec. 31, 2021
Loan Servicing
Summary of activity related to loan servicing	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2021 2020 2019 Balance, beginning of period ​ $ 1,987 ​ $ 3,845 ​ $ 4,623 Additions ​ 225 ​ 178 ​ ​ 342 Amortization ​ (745) ​ (922) ​ ​ (987) (Impairment)/Recovery ​ 413 ​ (1,114) ​ ​ (133) Balance, end of period ​ $ 1,880 ​ $ 1,987 ​ $ 3,845
Summary of key economic assumptions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) ​ 2021 ​ 2020 ​ Fair value of servicing rights ​ $ 1,880 ​ $ 1,987 ​ Weighted-average remaining term, years ​ 20.3 ​ 20.1 ​ Prepayment speeds ​ 14.2 % 17.7 % Discount rate ​ 9.5 % 9.0 %

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases
Schedule of right-of-use assets and lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) ​ 2021 2020 Lease Right-of-Use Assets ​ Classification ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets Operating lease right-of-use assets ​ $ 3,727 ​ $ 6,918 Finance lease right-of-use assets Land, premises and equipment, net ​ 87 ​ 202 Total lease right-of-use assets ​ ​ ​ $ 3,814 ​ $ 7,120 Lease Liabilities ​ ​ ​ Operating lease liabilities Operating lease liabilities ​ $ 4,275 ​ $ 7,861 Finance lease liabilities Long-term debt ​ 203 ​ 430 Total lease liabilities ​ ​ ​ $ 4,478 ​ $ 8,291
Schedule of weighted average remaining lease term and average discount rate	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2021 2020 ​ Weighted-average remaining lease term, years ​ ​ ​ ​ ​ Operating leases 3.4 ​ 5.8 ​ Finance leases 0.8 ​ 1.8 ​ Weighted-average discount rate ​ ​ ​ Operating leases 2.5 % 2.9 % Finance leases 7.8 % 7.8 %
Schedule of lease costs and other lease information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2021 ​ 2020 ​ 2019 Lease costs ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ $ 1,827 ​ $ 2,457 ​ $ 2,378 Variable lease cost ​ 823 ​ 1,170 ​ 819 Short-term lease cost ​ 181 ​ 395 ​ 535 Finance lease cost ​ ​ ​ Interest on lease liabilities ​ 25 ​ 42 ​ 58 Amortization of right-of-use assets ​ 116 ​ 116 ​ 116 Sublease income ​ (228) ​ (228) ​ (270) Net lease cost ​ $ 2,744 ​ $ 3,952 ​ $ 3,636 Other information ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities operating cash flows from operating leases ​ $ 1,763 ​ $ 2,432 ​ $ 2,376 Right-of-use assets obtained in exchange for new operating lease liabilities ​ $ 267 ​ $ 1,555 ​ $ —
Schedule of future minimum payments for finance leases	Future minimum payments for finance and operating leases with initial or remaining terms of one year or more as of December 31, 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Operating (dollars in thousands) Leases Leases Twelve months ended ​ ​ ​ ​ ​ ​ 2022 ​ $ 209 ​ $ 1,663 2023 ​ — ​ 1,343 2024 ​ — ​ 579 2025 ​ — ​ 447 2026 ​ — ​ 252 Thereafter ​ — ​ 423 Total future minimum lease payments ​ $ 209 ​ $ 4,707 Amounts representing interest ​ (6) ​ (432) Total operating lease liabilities ​ $ 203 ​ $ 4,275
Schedule of future minimum payments for operating leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Operating (dollars in thousands) Leases Leases Twelve months ended ​ ​ ​ ​ ​ ​ 2022 ​ $ 209 ​ $ 1,663 2023 ​ — ​ 1,343 2024 ​ — ​ 579 2025 ​ — ​ 447 2026 ​ — ​ 252 Thereafter ​ — ​ 423 Total future minimum lease payments ​ $ 209 ​ $ 4,707 Amounts representing interest ​ (6) ​ (432) Total operating lease liabilities ​ $ 203 ​ $ 4,275

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Other Assets
Schedule of other assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Federal Reserve Bank stock ​ $ 2,675 ​ $ 2,675 Foreclosed assets ​ 885 ​ 63 Prepaid expenses ​ 5,325 ​ 4,754 Investments in partnerships ​ 14 ​ 14 Trust fees accrued/receivable ​ 14,680 ​ 12,508 Income tax refund receivable ​ 1,146 ​ 1,631 Federal Home Loan Bank stock ​ 3,806 ​ 3,090 Derivative instruments ​ ​ 3,382 ​ ​ 13,773 Tax credit investments ​ ​ 7,906 ​ ​ — Other assets ​ 2,889 ​ 5,642 Total ​ $ 42,708 ​ $ 44,150

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2021
Deposits.
Schedule of components of deposits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Noninterest-bearing ​ $ 938,840 ​ $ 754,716 Interest-bearing ​ ​ Interest-bearing demand ​ 714,669 ​ 618,900 Savings accounts ​ 96,825 ​ 79,902 Money market savings ​ 937,305 ​ 909,137 Time deposits ​ 232,912 ​ 209,338 Total interest-bearing ​ 1,981,711 ​ 1,817,277 Total deposits ​ $ 2,920,551 ​ $ 2,571,993
Scheduled maturities of certificate of deposits	​ ​ ​ ​ ​ (dollars in thousands) Amount 2022 ​ $ 210,360 2023 ​ 9,057 2024 ​ 3,899 2025 ​ 3,268 2026 ​ 4,252 Thereafter ​ 2,076 Total ​ $ 232,912

Short-Term Borrowings (Tables)

Short-Term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2021
Short-Term Borrowings
Schedule of short-term borrowings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ ​ December 31, ​ (dollars in thousands) 2021 2020 2019 ​ Fed funds purchased ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of end of period ​ $ — ​ $ — ​ $ — ​ Average daily balance ​ ​ 3 ​ ​ 80 ​ ​ 61,709 ​ Maximum month-end balance ​ ​ — ​ ​ — ​ ​ 139,605 ​ Weighted-average rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During period ​ ​ — % ​ — % ​ 2.54 % End of period ​ ​ — % ​ — % ​ — % FHLB Short-term advances ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of end of period ​ $ — ​ $ — ​ $ — ​ Average daily balance ​ ​ — ​ ​ — ​ ​ 9,712 ​ Maximum month-end balance ​ ​ — ​ ​ — ​ ​ 135,000 ​ Weighted-average rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During period ​ ​ — % ​ — % ​ 2.44 % End of period ​ ​ — % ​ — % ​ — %

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Long-Term Debt.
Schedule of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Period End ​ ​ ​ ​ ​ ​ Face ​ Carrying ​ ​ ​ Interest ​ Maturity ​ ​ (dollars in thousands) Value Value Interest Rate Rate Date Call Date Subordinated notes payable ​ $ 50,000 ​ $ 50,000 ​ Fixed ​ 3.50 % 3/30/2031 ​ 3/31/2026 Junior subordinated debenture (Trust I) ​ ​ 4,124 ​ ​ 3,492 Three-month LIBOR + 3.10% ​ 3.32 % 6/26/2033 6/26/2008 Junior subordinated debenture (Trust II) ​ 6,186 ​ 5,238 Three-month LIBOR + 1.80% ​ 2.00 % 9/15/2036 9/15/2011 Finance lease liability ​ 2,700 ​ 203 Fixed 7.81 % 10/31/2022 N/A Total long-term debt ​ $ 63,010 ​ $ 58,933 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Period End ​ ​ ​ ​ ​ ​ Face ​ Carrying ​ ​ ​ Interest ​ Maturity ​ ​ (dollars in thousands) Value Value Interest Rate Rate Date Call Date Subordinated notes payable ​ $ 50,000 ​ $ 49,688 Three-month LIBOR + 4.12% 4.36 % 12/30/2025 12/30/2020 Junior subordinated debenture (Trust I) ​ 4,124 ​ 3,447 Three-month LIBOR + 3.10% ​ 3.35 % 6/26/2033 6/26/2008 Junior subordinated debenture (Trust II) ​ 6,186 ​ 5,170 Three-month LIBOR + 1.80% ​ 2.02 % 9/15/2036 9/15/2011 Finance lease liability ​ 2,700 ​ 430 Fixed 7.81 % 10/31/2022 N/A Total long-term debt ​ $ 63,010 ​ $ 58,735

Financial Instruments with Of_2

Financial Instruments with Off-Balance Sheet Risk (Tables)	12 Months Ended
	Dec. 31, 2021
Financial Instruments with Off-Balance Sheet Risk
Schedule of financial instruments whose contract amount represents credit risk	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Commitments to extend credit ​ $ 668,115 ​ $ 611,140 Standby letters of credit ​ 10,529 ​ 6,510 Total ​ $ 678,644 ​ $ 617,650

Share-Based Compensation Plan (

Share-Based Compensation Plan (Tables)	12 Months Ended
	Dec. 31, 2021
Share-Based Compensation Plan
Schedule of stock plan activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ Year ended December 31, 2020 ​ ​ ​ ​ Weighted- ​ ​ ​ Weighted- ​ ​ ​ Average Grant ​ ​ ​ Average Grant ​ Awards Date Fair Value Awards Date Fair Value Restricted Stock and Restricted Stock Unit Awards ​ ​ ​ ​ ​ ​ ​ Outstanding at beginning of period 325,030 $ 19.48 ​ 347,211 $ 18.64 Granted 66,664 ​ 26.63 ​ 82,494 ​ 19.62 Vested (104,119) ​ 20.51 ​ (91,346) ​ 16.39 Forfeited or cancelled (26,725) ​ 18.03 ​ (13,329) ​ 19.62 Outstanding at end of period ​ 260,850 ​ $ 21.04 ​ 325,030 ​ $ 19.48
Share-based Retainer plan	​ ​ ​ ​ ​ ​ ​ ​ Number of Shares ​ Available for Restricted ​ ​ future ​ stock ​ ​ grant ​ awards Balance as of December 31, 2019 ​ — ​ 167,319 Retainer shares awarded ​ — — Plan expiration ​ — — Balance as of December 31, 2020 ​ — ​ 167,319 Retainer shares awarded ​ — ​ — Balance as of December 31, 2021 ​ — ​ 167,319

Employee Benefits (Tables)

Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2021
Employee Benefits
Schedule of retirement plan contributions under employee benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 2019 Salary reduction plan ​ $ 3,123 ​ $ 2,960 ​ $ 2,599 ESOP ​ 2,014 ​ 2,166 ​ 1,836 Total ​ $ 5,137 ​ $ 5,126 ​ $ 4,435 Total ESOP shares outstanding ​ 1,207,952 ​ 1,170,611 ​ 1,307,439

Noninterest Income (Tables)

Noninterest Income (Tables)	12 Months Ended
	Dec. 31, 2021
Noninterest Income
Schedule of noninterest income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2021 2020 2019 Retirement and benefits ​ $ 71,709 ​ $ 60,956 ​ $ 63,811 Wealth management ​ 21,052 ​ 17,451 ​ ​ 15,502 Mortgage banking (1) ​ 48,502 ​ 61,641 ​ ​ 25,805 Service charges on deposit accounts ​ 1,395 ​ 1,409 ​ ​ 1,772 Net gains (losses) on investment securities (1) ​ 125 ​ 2,737 ​ ​ 357 Other ​ ​ ​ ​ Interchange fees ​ 2,180 ​ 2,140 ​ ​ 1,972 Bank-owned life insurance income (1) ​ 793 ​ 797 ​ ​ 803 Misc. transactional fees ​ 1,218 ​ 1,246 ​ ​ 1,236 Other noninterest income ​ 413 ​ 994 ​ ​ 2,936 Total noninterest income ​ $ 147,387 ​ $ 149,371 ​ $ 114,194 (1) Not within the scope of ASC 606.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Taxes
Schedule of components of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2021 2020 2019 Federal ​ ​ ​ Current ​ $ 10,731 ​ $ 14,541 ​ $ 7,091 Deferred ​ 2,212 ​ (3,615) ​ 267 Federal income tax ​ 12,943 ​ 10,926 ​ 7,358 State ​ ​ ​ Current ​ 2,879 ​ 3,736 ​ 1,926 Deferred ​ 574 ​ (819) ​ 72 State income tax ​ 3,453 ​ 2,917 ​ 1,998 Total income tax expense ​ $ 16,396 ​ $ 13,843 ​ $ 9,356
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Deferred Tax Assets ​ ​ Allowance for loan losses ​ $ 7,925 ​ $ 8,556 Employee compensation and benefit accruals ​ 2,762 ​ 2,608 Expense accruals ​ 634 ​ 352 Identifiable intangible amortization ​ 3,341 ​ 3,388 Deferred loan fees ​ 58 ​ 1,204 Net operating loss carry forwards ​ 42 ​ 173 Nonaccrual loan interest ​ 86 ​ 62 Unrealized gain on available‑for‑sale investment securities ​ 1,426 ​ — Other ​ 518 ​ 505 Total deferred tax assets from temporary differences ​ 16,792 ​ 16,848 Deferred Tax Liabilities ​ ​ Accumulated depreciation ​ 918 ​ 314 Goodwill and intangible amortization ​ 2,752 ​ 2,258 Servicing assets ​ 451 ​ 511 Prepaid expenses ​ 1,014 ​ 785 Unrealized loss on available‑for‑sale investment securities ​ ​ — ​ ​ 3,566 Other ​ 43 ​ 5 Total deferred tax liabilities from temporary differences ​ 5,178 ​ 7,439 Net Deferred Tax Assets ​ $ 11,614 ​ $ 9,409
Schedule of effective income tax rate reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ ​ 2021 ​ ​ 2020 ​ 2019 ​ ​ ​ ​ Percent of ​ ​ Percent of ​ ​ Percent of (dollars in thousands) ​ Amount ​ Pretax Income ​ Amount ​ Pretax Income Amount ​ Pretax Income Taxes at statutory federal income tax rate ​ $ 14,506 21.0 % ​ $ 12,289 21.0 % $ 8,168 21.0 % Tax effect of: ​ ​ ​ ​ ​ ​ Tax exempt income ​ (556) (0.8) % ​ (527) (0.9) % (442) (1.1) % State income taxes, net of federal benefits ​ 2,973 4.3 ​ ​ 2,522 4.3 ​ 1,618 4.2 ​ Nondeductible items and other ​ ​ (527) ​ (0.8) ​ ​ ​ (441) ​ (0.8) ​ ​ 12 ​ — ​ Applicable income taxes ​ $ 16,396 23.7 % ​ $ 13,843 23.6 % $ 9,356 24.1 %

Tax Credit Investments (Tables)

Tax Credit Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Tax Credit Investments.
Schedule of tax credit investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 (dollars in thousands) ​ ​ Investment ​ Unfunded Commitment (1) Investment ​ Accounting Method ​ ​ ​ ​ ​ ​ Low income housing tax credit Proportional amortization ​ $ 7,906 $ — Total ​ ​ $ 7,906 $ —

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting
Schedule of key metrics related to segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income ​ $ 87,014 ​ $ — ​ $ — ​ $ 1,981 ​ $ (1,896) ​ $ 87,099 Provision for loan losses ​ ​ (3,500) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (3,500) Noninterest income ​ ​ 6,091 ​ ​ 71,709 ​ ​ 21,052 ​ ​ 48,502 ​ ​ 33 ​ ​ 147,387 Noninterest expense ​ ​ 44,989 ​ 40,164 ​ 8,869 ​ 37,162 ​ ​ 37,725 ​ ​ 168,909 Net income before taxes ​ $ 51,616 ​ $ 31,545 ​ $ 12,183 ​ $ 13,321 ​ $ (39,588) ​ $ 69,077 Total assets $ 3,254,979 ​ $ 44,953 ​ $ 3,644 ​ $ 75,713 ​ $ 13,402 ​ $ 3,392,691 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2020 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income ​ $ 85,167 ​ $ — ​ $ — ​ $ 2,092 ​ $ (3,413) ​ $ 83,846 Provision for loan losses ​ 10,900 ​ — ​ — ​ — ​ — ​ 10,900 Noninterest income ​ 10,017 ​ 60,956 ​ 17,451 ​ 61,641 ​ (694) ​ 149,371 Noninterest expense ​ 46,883 ​ 35,236 ​ 8,289 ​ 36,323 ​ 37,068 ​ 163,799 Net income before taxes ​ $ 37,401 ​ $ 25,720 ​ $ 9,162 ​ $ 27,410 ​ $ (41,175) ​ $ 58,518 Total assets $ 2,827,792 ​ $ 47,758 ​ $ 3,009 ​ $ 125,078 ​ $ 10,134 ​ $ 3,013,771 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2019 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income ​ $ 76,916 ​ $ — ​ $ — ​ $ 1,245 ​ $ (3,610) ​ $ 74,551 Provision for loan losses ​ 7,312 ​ — ​ — ​ — ​ — ​ 7,312 Noninterest income ​ 6,970 ​ 63,811 ​ 15,502 ​ 25,805 ​ 2,106 ​ 114,194 Noninterest expense ​ 43,171 ​ 35,407 ​ 7,188 ​ 21,877 ​ 34,894 ​ 142,537 Net income before taxes ​ $ 33,403 ​ $ 28,404 ​ $ 8,314 ​ $ 5,173 ​ $ (36,398) ​ $ 38,896 Total assets $ 2,259,614 ​ $ 39,021 ​ $ 128 ​ $ 47,703 ​ $ 10,412 ​ $ 2,356,878

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share
Schedule of basic and diluted earnings per share	The calculation of basic and diluted earnings per share using the two-class method for the years ending December 31, 2021, 2020, and 2019 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars and shares in thousands, except per share data) 2021 2020 ​ 2019 Net income ​ $ 52,681 ​ $ 44,675 ​ $ 29,540 Dividends and undistributed earnings allocated to participating securities ​ ​ 802 ​ ​ 770 ​ ​ 647 Net income available to common shareholders ​ $ 51,879 ​ $ 43,905 ​ $ 28,893 Weighted-average common shares outstanding for basic earnings per share ​ ​ 17,189 ​ 17,106 ​ 14,736 Dilutive effect of stock-based awards ​ 297 ​ 332 ​ 357 Weighted-average common shares outstanding for diluted earnings per share ​ ​ 17,486 ​ ​ 17,438 ​ ​ 15,093 Earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ $ 3.02 ​ $ 2.57 ​ $ 1.96 Diluted earnings per common share ​ $ 2.97 ​ $ 2.52 ​ $ 1.91

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Related Party Transactions
Schedule of related party transactions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2021 2020 Beginning balance ​ $ 254 ​ $ 307 New loans and advances ​ ​ 132 ​ ​ 271 Repayments ​ ​ (352) ​ ​ (322) Changes to related parties (1) ​ ​ — ​ ​ (2) Ending balance ​ $ 34 ​ $ 254 (1) Represents changes related to directors that retired from our Board during the year. ​

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Derivative Instruments
Schedule of amounts recorded in the Company's consolidated balance sheets for derivatives not designated as hedging instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 ​ ​ ​ ​ Fair ​ Notional ​ Fair ​ Notional (dollars in thousands) ​ Value Amount Value Amount Asset Derivatives Consolidated Balance Sheet Location ​ ​ ​ ​ Interest rate swaps Other assets ​ $ 1,366 ​ $ 44,826 ​ $ 569 ​ $ 44,597 Interest rate lock commitments Other assets ​ ​ 1,507 ​ ​ 52,316 ​ ​ 10,124 ​ ​ 270,103 Forward loan sales commitments Other assets ​ 490 ​ 13,418 ​ 2,664 ​ 86,990 TBA mortgage backed securities Other assets ​ 34 ​ 97,000 ​ — ​ — Total asset derivatives ​ $ 3,397 ​ $ 207,560 ​ $ 13,357 ​ $ 401,690 Liability Derivatives ​ ​ ​ ​ Interest rate swaps Accrued expenses and other liabilities ​ $ 1,368 ​ $ 44,826 ​ $ 572 ​ $ 44,597 TBA mortgage backed securities Accrued expenses and other liabilities ​ ​ — ​ ​ — ​ ​ 2,339 ​ ​ 307,000 Total liability derivatives ​ $ 1,368 ​ $ 44,826 ​ $ 2,911 ​ $ 351,597
Schedule of gain (loss) recognized on derivatives instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ Consolidated Statements ​ December 31, ​ December 31, ​ December 31, (dollars in thousands) of Income Location 2021 2020 2019 Interest rate swaps Other noninterest income ​ $ 1 ​ $ (3) ​ $ — Interest rate lock commitments Mortgage banking ​ ​ (8,660) ​ ​ 8,798 ​ ​ 1,216 Forward loan sales commitments Mortgage banking ​ ​ (2,174) ​ ​ 2,271 ​ ​ 400 TBA mortgage backed securities Mortgage banking ​ 5,220 ​ (12,997) ​ ​ (109) Total gain/(loss) from derivative instruments ​ ​ $ (5,613) ​ $ (1,931) ​ $ 1,507

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2021
Regulatory Matters
Schedule of Bank's actual capital amounts and ratios	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be ​ ​ ​ ​ ​ ​ ​ ​ ​ Requirements ​ ​ Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ for Capital ​ ​ Under Prompt ​ ​ Actual ​ Adequacy Purposes ​ Corrective Action (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk weighted assets ​ ​ ​ ​ Consolidated ​ $ 314,628 14.65 % $ 96,647 4.50 % $ N/A N/A ​ Bank ​ 297,453 13.87 % 96,538 4.50 % 139,444 6.50 % Tier 1 capital to risk weighted assets ​ ​ . ​ Consolidated ​ 323,358 15.06 % 128,862 6.00 % N/A N/A ​ Bank ​ 297,453 13.87 % 128,718 6.00 % 171,624 8.00 % Total capital to risk weighted assets ​ ​ Consolidated ​ 400,263 18.64 % 171,816 8.00 % N/A N/A ​ Bank ​ 324,328 15.12 % 171,624 8.00 % 214,530 10.00 % Tier 1 capital to average assets ​ ​ Consolidated ​ 323,358 9.79 % 132,112 4.00 % N/A N/A ​ Bank ​ 297,453 9.01 % 132,039 4.00 % 165,049 5.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be ​ ​ ​ ​ ​ ​ ​ ​ ​ Requirements ​ ​ Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ for Capital ​ ​ Under Prompt ​ ​ Actual ​ Adequacy Purposes ​ Corrective Action (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk weighted assets ​ ​ ​ ​ Consolidated ​ $ 265,490 12.75 % $ 93,723 4.50 % $ N/A N/A ​ Bank ​ 251,806 12.10 % 93,632 4.50 % 135,246 6.50 % Tier 1 capital to risk weighted assets ​ ​ . ​ Consolidated ​ 273,797 13.15 % 124,964 6.00 % N/A N/A ​ Bank ​ 251,806 12.10 % 124,843 6.00 % 166,457 8.00 % Total capital to risk weighted assets ​ ​ Consolidated ​ 349,620 16.79 % 166,618 8.00 % N/A N/A ​ Bank ​ 277,916 13.36 % 166,457 8.00 % 208,071 10.00 % Tier 1 capital to average assets ​ ​ Consolidated ​ 273,797 9.24 % 118,587 4.00 % N/A N/A ​ Bank ​ 251,806 8.50 % 118,511 4.00 % 148,139 5.00 %

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value of Assets and Liabilities
Summary of balances of the assets and liabilities measured at estimated fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 (dollars in thousands) Level 1 Level 2 Level 3 Total Available-for-sale ​ ​ ​ ​ U.S. treasury and government agencies ​ $ — ​ $ 5,103 ​ $ — ​ $ 5,103 Mortgage backed securities ​ ​ ​ ​ Residential agency ​ — ​ 707,157 ​ — ​ 707,157 Commercial ​ — ​ 90,913 ​ — ​ 90,913 Asset backed securities ​ — ​ 54 ​ — ​ 54 Corporate bonds ​ — ​ 50,422 ​ — ​ 50,422 Total available-for-sale investment securities ​ $ — ​ $ 853,649 ​ $ — ​ $ 853,649 Other assets ​ ​ ​ ​ Derivatives ​ $ — ​ $ 3,397 ​ $ — ​ $ 3,397 Other liabilities ​ ​ ​ ​ Derivatives ​ $ — ​ $ 1,368 ​ $ — ​ $ 1,368 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 (dollars in thousands) Level 1 Level 2 Level 3 Total Available-for-sale ​ ​ ​ ​ U.S. treasury and government agencies ​ $ — ​ $ 5,907 ​ $ — ​ $ 5,907 Obligations of state and political agencies ​ — ​ 153,773 ​ — ​ 153,773 Mortgage backed securities ​ ​ ​ ​ Residential agency ​ — ​ 306,719 ​ — ​ 306,719 Commercial ​ — ​ 94,978 ​ — ​ 94,978 Asset backed securities ​ — ​ 115 ​ — ​ 115 Corporate bonds ​ — ​ 30,850 ​ — ​ 30,850 Total available-for-sale investment securities ​ $ — ​ $ 592,342 ​ $ — ​ $ 592,342 Other assets ​ ​ ​ ​ Derivatives ​ $ — ​ $ 13,357 ​ $ — ​ $ 13,357 Other liabilities ​ ​ ​ ​ Derivatives ​ $ — ​ $ 2,911 ​ $ — ​ $ 2,911
Schedule of net impairment losses related to nonrecurring estimated fair value measurements of certain assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 (dollars in thousands) Level 2 Level 3 Total Impairment Loans held for sale ​ $ 46,490 ​ $ — ​ $ 46,490 ​ $ — Impaired loans ​ — ​ 2,469 ​ 2,469 ​ 283 Foreclosed assets ​ — ​ 885 ​ 885 ​ — Servicing rights ​ — ​ 1,880 ​ 1,880 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 (dollars in thousands) Level 2 Level 3 Total Impairment Loans held for sale ​ $ 122,440 ​ $ — ​ $ 122,440 ​ $ — Impaired loans ​ — ​ 7,325 ​ 7,325 ​ 1,205 Foreclosed assets ​ — ​ 63 ​ 63 ​ — Servicing rights ​ — ​ 1,987 ​ 1,987 ​ —
Schedule of valuation techniques and significant unobservable inputs used to measure Level 3 estimated fair values	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ (dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Asset Type Valuation Technique Unobservable Input Fair Value Range Average Impaired loans Appraisal value Property specific adjustment $ 2,469 N/A ​ N/A Foreclosed assets Appraisal value Property specific adjustment 885 N/A N/A Servicing rights Discounted cash flows Prepayment speed assumptions 1,880 161-327 237 ​ Discount rate 9.5 % 9.5 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ (dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Asset Type Valuation Technique Unobservable Input Fair Value Range Average Impaired loans Appraisal value Property specific adjustment $ 7,325 N/A N/A ​ Foreclosed assets Appraisal value Property specific adjustment 63 N/A N/A ​ Servicing rights Discounted cash flows Prepayment speed assumptions 1,987 191-403 285 ​ ​ Discount rate 9.0 % 9.0 % ​
Summary of estimated fair values and related carrying or notional amounts, of the Company's financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Carrying ​ Estimated Fair Value (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial Assets ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 242,311 ​ $ 242,311 ​ $ — ​ $ — ​ $ 242,311 Investment securities held-to-maturity ​ ​ 352,061 ​ ​ — ​ ​ 349,677 ​ ​ — ​ ​ 349,677 Loans ​ 1,726,448 ​ — ​ — ​ 1,760,784 ​ 1,760,784 Accrued interest receivable ​ 8,537 ​ 8,537 ​ — ​ — ​ 8,537 Bank-owned life insurance ​ 33,156 ​ — ​ 33,156 ​ — ​ 33,156 Financial Liabilities ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ $ 938,840 ​ $ — ​ $ 938,840 ​ $ — ​ $ 938,840 Interest-bearing deposits ​ 1,748,799 ​ — ​ 1,748,799 ​ — ​ 1,748,799 Time deposits ​ 232,912 ​ — ​ — ​ 232,970 ​ 232,970 Long-term debt ​ 58,933 ​ — ​ 57,772 ​ — ​ 57,772 Accrued interest payable ​ 1,674 ​ 1,674 ​ — ​ — ​ 1,674 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Carrying ​ Estimated Fair Value (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial Assets ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 172,962 ​ $ 172,962 ​ $ — ​ $ — ​ $ 172,962 Loans ​ 1,945,129 ​ — ​ — ​ 1,992,394 ​ 1,992,394 Accrued interest receivable ​ 9,662 ​ 9,662 ​ — ​ — ​ 9,662 Bank-owned life insurance ​ 32,363 ​ — ​ 32,363 ​ — ​ 32,363 Financial Liabilities ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ $ 754,716 ​ $ — ​ $ 754,716 ​ $ — ​ $ 754,716 Interest-bearing deposits ​ 1,607,939 ​ — ​ 1,607,939 ​ — ​ 1,607,939 Time deposits ​ 209,338 ​ — ​ — ​ 210,637 ​ 210,637 Long-term debt ​ 58,735 ​ — ​ 56,131 ​ — ​ 56,131 Accrued interest payable ​ 654 ​ 654 ​ — ​ — ​ 654

Parent Company Only Financial_2

Parent Company Only Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2021
Parent Company Only Financial Statements
Schedule of Parent Company Condensed Balance Sheets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2021 2020 Assets ​ ​ Cash and cash equivalents ​ $ 81,753 ​ $ 76,701 Land, premises and equipment, net ​ 87 ​ 202 Investment in subsidiaries ​ 342,538 ​ 316,789 Deferred income taxes, net ​ 1,000 ​ 1,007 Other assets ​ 655 ​ 589 Total assets ​ $ 426,033 ​ $ 395,288 Liabilities and Stockholders’ Equity ​ ​ Long‑term debt ​ $ 58,933 ​ $ 58,735 Accrued expenses and other liabilities ​ 7,697 ​ 6,390 Total liabilities ​ 66,630 ​ 65,125 Stockholders’ equity ​ 359,403 ​ 330,163 Total stockholders’ equity ​ 359,403 ​ 330,163 Total liabilities and stockholders’ equity ​ $ 426,033 ​ $ 395,288
Schedule of Parent Company Condensed Statements of Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2021 2020 2019 Income ​ ​ ​ Dividends from subsidiaries ​ $ 16,000 ​ $ 16,000 ​ $ 15,000 Other income ​ 4 ​ 10 ​ 15 Total operating income ​ 16,004 ​ 16,010 ​ 15,015 Expenses ​ 5,293 ​ 6,057 ​ 5,999 Income before equity in undistributed income ​ 10,711 ​ 9,953 ​ 9,016 Equity in undistributed income of subsidiaries ​ 40,642 ​ 33,208 ​ 19,089 Income before income taxes ​ 51,353 ​ 43,161 ​ 28,105 Income tax benefit ​ 1,328 ​ 1,514 ​ 1,435 Net income ​ $ 52,681 ​ $ 44,675 ​ $ 29,540
Schedule of Parent Company Condensed Statements of Cash Flows	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2021 2020 2019 Operating activities ​ ​ ​ Net income ​ $ 52,681 ​ $ 44,675 ​ $ 29,540 Adjustments to reconcile net income to net cash provided by operating activities ​ ​ ​ Equity in undistributed income of subsidiaries ​ (40,642) ​ (33,208) ​ (19,089) Depreciation and amortization ​ 115 ​ 116 ​ 115 Stock‑based compensation cost ​ 3,095 ​ 1,927 ​ 251 Other, net ​ 1,266 ​ 413 ​ 2,676 Net cash provided by operating activities ​ 16,515 ​ 13,923 ​ 13,493 Investing activities ​ ​ ​ Investment in bank subsidiary ​ — ​ — ​ — Acquisitions, net cash acquired ​ — ​ — ​ — Net cash provided by investing activities ​ — ​ — ​ — Financing activities ​ ​ ​ Cash dividends paid on common stock ​ (10,751) ​ (10,387) ​ (8,909) Repurchase of common stock ​ (712) ​ (482) ​ (1,948) Proceeds from the issuance of common stock in initial public offering net of issuance costs ​ ​ — ​ ​ — ​ ​ 62,804 Net cash provided by financing activities ​ (11,463) ​ (10,869) ​ 51,947 Change in cash and cash equivalents ​ 5,052 ​ 3,054 ​ 65,440 Cash and cash equivalents at beginning of period ​ 76,701 ​ 73,647 ​ 8,207 Cash and cash equivalents at end of period ​ $ 81,753 ​ $ 76,701 ​ $ 73,647

Significant Accounting Polici_3

Significant Accounting Policies (Details) $ in Thousands	Sep. 25, 2019USD ($)shares	Sep. 17, 2019shares	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)shares
Significant Accounting Policies
Number of operating segments | segment			4
Shares sold | shares					3,289,000
Aggregate offering price	$ 69,100
Underwriting discounts	4,700
Offering cost	1,600
Net proceeds	$ 62,800				$ 62,804
Percentage of commercial and industrial loans not secured by real estate			24.80%	35.00%
Period when accrual of interest on loans is discontinued when loans are past due			90 days
Unrecognized tax position pertaining to interest and penalties			$ 0	$ 0	$ 0
IPO
Significant Accounting Policies
Shares sold | shares		2,860,000
Underwriter
Significant Accounting Policies
Shares sold | shares	429,000
Maximum
Significant Accounting Policies
Period when consumer loans are charged off when loans are past due			120 days

Business Combinations - Narrati

Business Combinations - Narrative (Details) $ in Thousands	Dec. 18, 2020USD ($)planindividualclient	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Business Combinations
Goodwill		$ 31,490	$ 30,201
Retirement Planning Services, Inc
Business Combinations
Total purchase price	$ 13,400
Cash consideration	9,792
Earn out liability	3,600
Other intangible assets	11,489
Goodwill	$ 2,872
Number of retirement and health benefit administration plans | plan	1,000
Number of plan participants | individual	48,000
Number of COBRA clients | client	300
Number of COBRA members acquired | individual	10,000
Assets under administration/management	$ 1,300,000

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Thousands	Dec. 18, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents		$ 242,311	$ 172,962
Land premises and equipment, net		18,370	20,289
Other intangible assets		20,250	25,919
Other assets		42,708	44,150
Total assets		3,392,691	3,013,771	$ 2,356,878
Liabilities
Total liabilities		3,033,288	2,683,608
Assets
Cash and cash equivalents			513
Liabilities
Goodwill		$ 31,490	$ 30,201
Retirement Planning Services, Inc
Fair Value Adjustments
Land premises and equipment, net	$ (16)
Other intangible assets	11,390
Other assets	(38)
Total assets	11,336
Other liabilities	3,930
Total liabilities	3,930
Excess assets over liabilities	7,406
Assets
Cash and cash equivalents	513
Other intangible assets	11,489
Other assets	266
Total assets	12,268
Liabilities
Other liabilities	5,348
Total liabilities	5,348
Excess assets over liabilities	6,920
Cash paid for RPS	9,792
Goodwill	2,872
Retirement Planning Services, Inc
Assets
Cash and cash equivalents	513
Land premises and equipment, net	16
Other intangible assets	99
Other assets	304
Total assets	932
Liabilities
Other liabilities	1,418
Total liabilities	1,418
Excess assets over liabilities	$ (486)

Restrictions on Cash and Due _2

Restrictions on Cash and Due from Banks (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Restrictions on Cash and Due from Banks
Amount of minimum average reserve balances required to be maintained	$ 0	$ 0
Balances at the Federal Reserve Bank and other financial institutions	$ 224,400	$ 145,600

Investment Securities (Details)

Investment Securities (Details) - USD ($) $ in Thousands	Apr. 01, 2021	Dec. 31, 2021	Dec. 31, 2020
Investment securities available-for-sale
Amortized Cost		$ 860,258	$ 578,138
Unrealized Gains		5,362	14,749
Unrealized Losses		(11,971)	(545)
Fair Value		853,649	592,342
Amortized Cost		352,061
Unrealized Gains		1,110
Unrealized Losses		(3,494)
Fair Value		349,677
Amortized Cost		1,212,319
Unrealized Gains		6,472
Unrealized Losses		(15,465)
Fair Value		1,203,326
U.S. treasury and government agencies
Investment securities available-for-sale
Amortized Cost		5,028	5,926
Unrealized Gains		75
Unrealized Losses			(19)
Fair Value		5,103	5,907
Obligations of state and political agencies.
Investment securities available-for-sale
Amortized Cost			148,491
Unrealized Gains			5,282
Fair Value			153,773
Amortized Cost		144,543
Unrealized Gains		1,110
Unrealized Losses		(349)
Fair Value		145,304
Fair value of debt securities available-for-sale transferred to held-to-maturity	$ 149,200
Net unrealized gain from available-for-sale to held-to-maturity	$ 1,300
Mortgage backed securities - Residential agency
Investment securities available-for-sale
Amortized Cost		717,781	303,760
Unrealized Gains		1,213	3,395
Unrealized Losses		(11,837)	(436)
Fair Value		707,157	306,719
Amortized Cost		207,518
Unrealized Losses		(3,145)
Fair Value		204,373
Mortgage backed securities - Commercial
Investment securities available-for-sale
Amortized Cost		88,362	89,300
Unrealized Gains		2,674	5,678
Unrealized Losses		(123)
Fair Value		90,913	94,978
Asset backed securities
Investment securities available-for-sale
Amortized Cost		52	109
Unrealized Gains		2	6
Fair Value		54	115
Corporate bonds
Investment securities available-for-sale
Amortized Cost		49,035	30,552
Unrealized Gains		1,398	388
Unrealized Losses		(11)	(90)
Fair Value		$ 50,422	$ 30,850

Investment Securities - Amortiz

Investment Securities - Amortized cost and estimated fair value (Details) $ in Thousands	Dec. 31, 2021USD ($)
Carrying Value
Due within one year or less	$ 4,819
Due after one year through five years	34,896
Due after five years through ten years	74,002
Due after 10 years	238,344
Total investment securities	352,061
Estimated Fair Value
Due within one year or less	4,817
Due after one year through five years	34,769
Due after five years through ten years	74,581
Due after 10 years	235,510
Total investment securities	349,677
Amortized Cost
Due within one year or less	2
Due after one year through five years	2,809
Due after five years through ten years	96,263
Due after 10 years	761,184
Total investment securities available-for-sale	860,258
Fair Value
Due within one year or less	2
Due after one year through five years	2,883
Due after five years through ten years	99,243
Due after 10 years	751,521
Total investment securities available-for-sale	$ 853,649

Investment Securities - Pledged

Investment Securities - Pledged (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Investment Securities
Investment securities with carrying value	$ 192.8	$ 160.8

Investment Securities - Proceed

Investment Securities - Proceeds from sale of available for sale securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investment Securities
Proceeds	$ 13,189	$ 75,647	$ 32,565
Realized gains	$ 114	$ 2,737	357
Realized losses			$ (22)

Investment Securities - Gross u

Investment Securities - Gross unrealized losses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Investment securities available-for-sale
Unrealized losses less than 12 months	$ (10,290)	$ (532)
Fair value less than 12 months	578,270	89,457
Unrealized losses over 12 months	(1,681)	(13)
Fair value over 12 months	55,084	3,667
Total Unrealized losses	(11,971)	(545)
Total Fair value	633,354	93,124
Held-to-maturity investment securities
Unrealized losses less than 12 months	(3,494)
Fair value less than 12 months	257,583
Total Unrealized losses	(3,494)
Total Fair value	257,583
Unrealized losses less than 12 months	(13,784)
Fair value less than 12 months	835,853
Unrealized losses over 12 months	(1,681)
Fair value over 12 months	55,084
Total Unrealized losses	(15,465)
Total Fair value	890,937
U.S. treasury and government agencies
Investment securities available-for-sale
Unrealized losses less than 12 months		(10)
Fair value less than 12 months		4,509
Unrealized losses over 12 months		(9)
Fair value over 12 months		1,309
Total Unrealized losses		(19)
Total Fair value		5,818
Obligations of state and political agencies.
Held-to-maturity investment securities
Unrealized losses less than 12 months	(349)
Fair value less than 12 months	53,210
Total Unrealized losses	(349)
Total Fair value	53,210
Mortgage backed securities - Residential agency
Investment securities available-for-sale
Unrealized losses less than 12 months	(10,156)	(432)
Fair value less than 12 months	554,811	68,494
Unrealized losses over 12 months	(1,681)	(4)
Fair value over 12 months	55,082	2,356
Total Unrealized losses	(11,837)	(436)
Total Fair value	609,893	70,850
Held-to-maturity investment securities
Unrealized losses less than 12 months	(3,145)
Fair value less than 12 months	204,373
Total Unrealized losses	(3,145)
Total Fair value	204,373
Mortgage backed securities - Commercial
Investment securities available-for-sale
Unrealized losses less than 12 months	(123)
Fair value less than 12 months	17,470
Total Unrealized losses	(123)
Total Fair value	17,470
Asset backed securities
Investment securities available-for-sale
Fair value over 12 months	2	2
Total Fair value	2	2
Corporate bonds
Investment securities available-for-sale
Unrealized losses less than 12 months	(11)	(90)
Fair value less than 12 months	5,989	16,454
Total Unrealized losses	(11)	(90)
Total Fair value	$ 5,989	$ 16,454

Investment Securities - Carryin

Investment Securities - Carrying value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Investment Securities
Federal Reserve	$ 2,675	$ 2,675
FHLB	$ 3,806	$ 3,090

Investment Securities - Visa Cl

Investment Securities - Visa Class B Restricted Shares (Details) - Visa $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)shares	Dec. 31, 2020USD ($)
Common Class A
Securities
Investment shares owned, if converted	11,204
Common Class B
Securities
Conversion ratio	1.6181
Investment shares owned	6,924
Cost basis | $	$ 0	$ 0

Loans and Allowance for Loan _3

Loans and Allowance for Loan Losses - Loans outstanding by portfolio segment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Loans and Allowance for Loan Losses
Total loans	$ 1,758,020	$ 1,979,375
Deferred loan fees and costs	231	4,700
Commercial
Loans and Allowance for Loan Losses
Total loans	1,076,273	1,299,316
Consumer
Loans and Allowance for Loan Losses
Total loans	681,747	680,059
Commercial and industrial | PPP Loans
Loans and Allowance for Loan Losses
Total loans	33,600	268,400
Commercial and industrial | Commercial
Loans and Allowance for Loan Losses
Total loans	436,761	691,858
Real estate construction | Commercial
Loans and Allowance for Loan Losses
Total loans	40,619	44,451
Residential | Consumer | Real estate first mortgage
Loans and Allowance for Loan Losses
Total loans	510,716	463,370
Residential | Consumer | Real estate junior lien
Loans and Allowance for Loan Losses
Total loans	125,668	143,416
Commercial real estate | Commercial
Loans and Allowance for Loan Losses
Total loans	598,893	563,007
Other revolving and installment | Consumer
Loans and Allowance for Loan Losses
Total loans	$ 45,363	$ 73,273

Loans and Allowance for Loan _4

Loans and Allowance for Loan Losses - Past due aging analysis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Past due aging analysis of loans
Nonaccrual	$ 2,076	$ 5,050
Loans and Leases Receivable, Gross, Total	1,758,020	1,979,375
Interest income foregone on nonaccrual loans	300	500	$ 400
30 - 89 Days Past Due
Past due aging analysis of loans
Loans	2,226	5,010
90 Days or More Past Due
Past due aging analysis of loans
Loans	121	30
Current
Past due aging analysis of loans
Loans	1,753,597	1,969,285
Commercial
Past due aging analysis of loans
Nonaccrual	1,966	4,419
Loans and Leases Receivable, Gross, Total	1,076,273	1,299,316
Commercial | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans	168	2,949
Commercial | 90 Days or More Past Due
Past due aging analysis of loans
Loans	121	30
Commercial | Current
Past due aging analysis of loans
Loans	1,074,018	1,291,918
Commercial | Commercial and industrial
Past due aging analysis of loans
Nonaccrual	1,337	1,988
Loans and Leases Receivable, Gross, Total	436,761	691,858
Commercial | Commercial and industrial | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans	168	500
Commercial | Commercial and industrial | 90 Days or More Past Due
Past due aging analysis of loans
Loans	121	30
Commercial | Commercial and industrial | Current
Past due aging analysis of loans
Loans	435,135	689,340
Commercial | Real estate construction
Past due aging analysis of loans
Loans and Leases Receivable, Gross, Total	40,619	44,451
Commercial | Real estate construction | Current
Past due aging analysis of loans
Loans	40,619	44,451
Commercial | Commercial real estate
Past due aging analysis of loans
Nonaccrual	629	2,431
Loans and Leases Receivable, Gross, Total	598,893	563,007
Commercial | Commercial real estate | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans		2,449
Commercial | Commercial real estate | Current
Past due aging analysis of loans
Loans	598,264	558,127
Consumer
Past due aging analysis of loans
Nonaccrual	110	631
Loans and Leases Receivable, Gross, Total	681,747	680,059
Consumer | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans	2,058	2,061
Consumer | Current
Past due aging analysis of loans
Loans	679,579	677,367
Consumer | Residential | Real estate first mortgage
Past due aging analysis of loans
Nonaccrual	21	439
Loans and Leases Receivable, Gross, Total	510,716	463,370
Consumer | Residential | Real estate first mortgage | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans	1,770	1,752
Consumer | Residential | Real estate first mortgage | Current
Past due aging analysis of loans
Loans	508,925	461,179
Consumer | Residential | Real estate junior lien
Past due aging analysis of loans
Nonaccrual	89	165
Loans and Leases Receivable, Gross, Total	125,668	143,416
Consumer | Residential | Real estate junior lien | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans	167	191
Consumer | Residential | Real estate junior lien | Current
Past due aging analysis of loans
Loans	125,412	143,060
Consumer | Other revolving and installment
Past due aging analysis of loans
Nonaccrual		27
Loans and Leases Receivable, Gross, Total	45,363	73,273
Consumer | Other revolving and installment | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans	121	118
Consumer | Other revolving and installment | Current
Past due aging analysis of loans
Loans	$ 45,242	$ 73,128

Loans and Allowance for Loan _5

Loans and Allowance for Loan Losses - Loans by risk category (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Loans outstanding by loan portfolio segment and risk category
Loans	$ 1,758,020	$ 1,979,375
Pass
Loans outstanding by loan portfolio segment and risk category
Loans	1,736,781	1,922,704
Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans	480	15,326
Substandard
Loans outstanding by loan portfolio segment and risk category
Loans	20,759	41,345
Commercial
Loans outstanding by loan portfolio segment and risk category
Loans	1,076,273	1,299,316
Commercial | Pass
Loans outstanding by loan portfolio segment and risk category
Loans	1,056,145	1,247,786
Commercial | Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans	480	12,101
Commercial | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans	19,648	39,429
Commercial | Commercial and industrial
Loans outstanding by loan portfolio segment and risk category
Loans	436,761	691,858
Commercial | Commercial and industrial | Pass
Loans outstanding by loan portfolio segment and risk category
Loans	430,235	669,602
Commercial | Commercial and industrial | Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans	480	5,415
Commercial | Commercial and industrial | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans	6,046	16,841
Commercial | Real estate construction
Loans outstanding by loan portfolio segment and risk category
Loans	40,619	44,451
Commercial | Real estate construction | Pass
Loans outstanding by loan portfolio segment and risk category
Loans	40,619	44,451
Commercial | Commercial real estate
Loans outstanding by loan portfolio segment and risk category
Loans	598,893	563,007
Commercial | Commercial real estate | Pass
Loans outstanding by loan portfolio segment and risk category
Loans	585,291	533,733
Commercial | Commercial real estate | Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans		6,686
Commercial | Commercial real estate | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans	13,602	22,588
Consumer
Loans outstanding by loan portfolio segment and risk category
Loans	681,747	680,059
Consumer | Pass
Loans outstanding by loan portfolio segment and risk category
Loans	680,636	674,918
Consumer | Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans		3,225
Consumer | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans	1,111	1,916
Consumer | Residential | Real estate first mortgage
Loans outstanding by loan portfolio segment and risk category
Loans	510,716	463,370
Consumer | Residential | Real estate first mortgage | Pass
Loans outstanding by loan portfolio segment and risk category
Loans	510,375	461,221
Consumer | Residential | Real estate first mortgage | Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans		1,406
Consumer | Residential | Real estate first mortgage | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans	341	743
Consumer | Residential | Real estate junior lien
Loans outstanding by loan portfolio segment and risk category
Loans	125,668	143,416
Consumer | Residential | Real estate junior lien | Pass
Loans outstanding by loan portfolio segment and risk category
Loans	124,898	140,461
Consumer | Residential | Real estate junior lien | Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans		1,819
Consumer | Residential | Real estate junior lien | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans	770	1,136
Consumer | Other revolving and installment
Loans outstanding by loan portfolio segment and risk category
Loans	45,363	73,273
Consumer | Other revolving and installment | Pass
Loans outstanding by loan portfolio segment and risk category
Loans	$ 45,363	73,236
Consumer | Other revolving and installment | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans		$ 37

Loans and Allowance for Loan _6

Loans and Allowance for Loan Losses - Changes in allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Changes in the allowance
Beginning Balance	$ 34,246	$ 23,924	$ 22,174
Provision for loan losses	(3,500)	10,900	7,312
Loan charge-offs	(1,922)	(5,368)	(7,578)
Loan recoveries	2,748	4,790	2,016
Ending Balance	31,572	34,246	23,924
Unallocated
Changes in the allowance
Beginning Balance	1,378	2,192	1,177
Provision for loan losses	(198)	(814)	1,015
Ending Balance	1,180	1,378	2,192
Commercial
Changes in the allowance
Beginning Balance	24,968	19,261	18,656
Provision for loan losses	(3,600)	6,372	5,523
Loan charge-offs	(1,766)	(5,114)	(6,541)
Loan recoveries	2,482	4,449	1,623
Ending Balance	22,084	24,968	19,261
Commercial | Commercial and industrial
Changes in the allowance
Beginning Balance	10,205	12,270	12,127
Provision for loan losses	(1,710)	(2,168)	5,213
Loan charge-offs	(1,230)	(4,249)	(6,540)
Loan recoveries	1,660	4,352	1,470
Ending Balance	8,925	10,205	12,270
Commercial | Real estate construction
Changes in the allowance
Beginning Balance	658	303	250
Provision for loan losses	125	355	51
Loan charge-offs			(1)
Loan recoveries			3
Ending Balance	783	658	303
Commercial | Commercial real estate
Changes in the allowance
Beginning Balance	14,105	6,688	6,279
Provision for loan losses	(2,015)	8,185	259
Loan charge-offs	(536)	(865)
Loan recoveries	822	97	150
Ending Balance	12,376	14,105	6,688
Consumer
Changes in the allowance
Beginning Balance	7,900	2,471	2,341
Provision for loan losses	298	5,342	774
Loan charge-offs	(156)	(254)	(1,037)
Loan recoveries	266	341	393
Ending Balance	8,308	7,900	2,471
Consumer | Residential | Real estate first mortgage
Changes in the allowance
Beginning Balance	5,774	1,448	1,156
Provision for loan losses	758	4,321	292
Loan recoveries		5
Ending Balance	6,532	5,774	1,448
Consumer | Residential | Real estate junior lien
Changes in the allowance
Beginning Balance	1,373	671	805
Provision for loan losses	(201)	507	99
Loan charge-offs		(12)	(465)
Loan recoveries	123	207	232
Ending Balance	1,295	1,373	671
Consumer | Other revolving and installment
Changes in the allowance
Beginning Balance	753	352	380
Provision for loan losses	(259)	514	383
Loan charge-offs	(156)	(242)	(572)
Loan recoveries	143	129	161
Ending Balance	$ 481	$ 753	$ 352

Loans and Allowance for Loan _7

Loans and Allowance for Loan Losses - Components of loans and associated allowance (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated	$ 2,752	$ 8,530
Recorded Investment, Collectively Evaluated	1,755,268	1,970,845
Loans and Leases Receivable, Gross, Total	1,758,020	1,979,375
Allowance for Loan Losses, Individually Evaluated	283	1,205
Allowance for Loan Losses, Collectively Evaluated	30,109	31,663
Loans and Leases Receivable, Allowance, Total	31,572	34,246	$ 23,924	$ 22,174
Unallocated
Loans and Allowance for Loan Losses
Loans and Leases Receivable, Allowance, Total	1,180	1,378	2,192	1,177
Commercial
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated	2,640	7,840
Recorded Investment, Collectively Evaluated	1,073,633	1,291,476
Loans and Leases Receivable, Gross, Total	1,076,273	1,299,316
Allowance for Loan Losses, Individually Evaluated	283	1,173
Allowance for Loan Losses, Collectively Evaluated	21,801	23,795
Loans and Leases Receivable, Allowance, Total	22,084	24,968	19,261	18,656
Commercial | Commercial and industrial
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated	1,831	2,616
Recorded Investment, Collectively Evaluated	434,930	689,242
Loans and Leases Receivable, Gross, Total	436,761	691,858
Allowance for Loan Losses, Individually Evaluated	278	336
Allowance for Loan Losses, Collectively Evaluated	8,647	9,869
Loans and Leases Receivable, Allowance, Total	8,925	10,205	12,270	12,127
Commercial | Real estate construction
Loans and Allowance for Loan Losses
Recorded Investment, Collectively Evaluated	40,619	44,451
Loans and Leases Receivable, Gross, Total	40,619	44,451
Allowance for Loan Losses, Collectively Evaluated	783	658
Loans and Leases Receivable, Allowance, Total	783	658	303	250
Commercial | Commercial real estate
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated	809	5,224
Recorded Investment, Collectively Evaluated	598,084	557,783
Loans and Leases Receivable, Gross, Total	598,893	563,007
Allowance for Loan Losses, Individually Evaluated	5	837
Allowance for Loan Losses, Collectively Evaluated	12,371	13,268
Loans and Leases Receivable, Allowance, Total	12,376	14,105	6,688	6,279
Consumer
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated	112	690
Recorded Investment, Collectively Evaluated	681,635	679,369
Loans and Leases Receivable, Gross, Total	681,747	680,059
Allowance for Loan Losses, Individually Evaluated		32
Allowance for Loan Losses, Collectively Evaluated	8,308	7,868
Loans and Leases Receivable, Allowance, Total	8,308	7,900	2,471	2,341
Consumer | Residential | Real estate first mortgage
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated	21	439
Recorded Investment, Collectively Evaluated	510,695	462,931
Loans and Leases Receivable, Gross, Total	510,716	463,370
Allowance for Loan Losses, Collectively Evaluated	6,532	5,774
Loans and Leases Receivable, Allowance, Total	6,532	5,774	1,448	1,156
Consumer | Residential | Real estate junior lien
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated	91	224
Recorded Investment, Collectively Evaluated	125,577	143,192
Loans and Leases Receivable, Gross, Total	125,668	143,416
Allowance for Loan Losses, Individually Evaluated		19
Allowance for Loan Losses, Collectively Evaluated	1,295	1,354
Loans and Leases Receivable, Allowance, Total	1,295	1,373	671	805
Consumer | Other revolving and installment
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated		27
Recorded Investment, Collectively Evaluated	45,363	73,246
Loans and Leases Receivable, Gross, Total	45,363	73,273
Allowance for Loan Losses, Individually Evaluated		13
Allowance for Loan Losses, Collectively Evaluated	481	740
Loans and Leases Receivable, Allowance, Total	$ 481	$ 753	$ 352	$ 380

Loans and Allowance for Loan _8

Loans and Allowance for Loan Losses - Impaired loans (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Impaired
Loans with related allowance for loan losses, Recorded investment	$ 625	$ 4,717
Loans with related allowance for loan losses, unpaid principal	667	4,746
Loans with related allowance for loan losses, Related Allowance	283	1,205
Loans with no related allowance for loan losses, Recorded investment	2,127	3,813
Loans with no related allowance for loan losses, unpaid principal	2,403	4,358
Recorded investment	2,752	8,530
Unpaid principal balance	3,070	9,104
Commercial | Commercial and industrial
Impaired
Loans with related allowance for loan losses, Recorded investment	445	723
Loans with related allowance for loan losses, unpaid principal	464	725
Loans with related allowance for loan losses, Related Allowance	278	336
Loans with no related allowance for loan losses, Recorded investment	1,386	1,893
Loans with no related allowance for loan losses, unpaid principal	1,575	2,173
Recorded investment	1,831	2,616
Unpaid principal balance	2,039	2,898
Commercial | Commercial real estate
Impaired
Loans with related allowance for loan losses, Recorded investment	180	3,948
Loans with related allowance for loan losses, unpaid principal	203	3,974
Loans with related allowance for loan losses, Related Allowance	5	837
Loans with no related allowance for loan losses, Recorded investment	629	1,276
Loans with no related allowance for loan losses, unpaid principal	684	1,415
Recorded investment	809	5,224
Unpaid principal balance	887	5,389
Consumer | Residential | Real estate first mortgage
Impaired
Loans with no related allowance for loan losses, Recorded investment	21	439
Loans with no related allowance for loan losses, unpaid principal	24	464
Recorded investment	21	439
Unpaid principal balance	24	464
Consumer | Residential | Real estate junior lien
Impaired
Loans with related allowance for loan losses, Recorded investment		19
Loans with related allowance for loan losses, unpaid principal		20
Loans with related allowance for loan losses, Related Allowance		19
Loans with no related allowance for loan losses, Recorded investment	91	205
Loans with no related allowance for loan losses, unpaid principal	120	306
Recorded investment	91	224
Unpaid principal balance	$ 120	326
Consumer | Other revolving and installment
Impaired
Loans with related allowance for loan losses, Recorded investment		27
Loans with related allowance for loan losses, unpaid principal		27
Loans with related allowance for loan losses, Related Allowance		13
Recorded investment		27
Unpaid principal balance		$ 27

Loans and Allowance for Loan _9

Loans and Allowance for Loan Losses - Interest Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Impaired
Loans with related allowance for loan losses, Average recorded investment	$ 704	$ 4,784	$ 6,750
Loans with no related allowance for loan losses, Average recorded investment	2,782	6,460	3,217
Loans, Average recorded investment	3,486	11,244	9,967
Loans with related allowance for loan losses, Interest income	20	152	16
Loans with no related allowance for loan losses, Interest income	20	28	42
Loans, Interest income	40	180	58
Commercial | Commercial and industrial
Impaired
Loans with related allowance for loan losses, Average recorded investment	517	765	839
Loans with no related allowance for loan losses, Average recorded investment	1,988	4,151	2,434
Loans, Average recorded investment	2,505	4,916	3,273
Loans with related allowance for loan losses, Interest income	13	14	16
Loans with no related allowance for loan losses, Interest income	20	25	30
Loans, Interest income	33	39	46
Commercial | Commercial real estate
Impaired
Loans with related allowance for loan losses, Average recorded investment	187	3,972	5,891
Loans with no related allowance for loan losses, Average recorded investment	672	1,614	212
Loans, Average recorded investment	859	5,586	6,103
Loans with related allowance for loan losses, Interest income	7	138
Loans with no related allowance for loan losses, Interest income			8
Loans, Interest income	7	138	8
Consumer | Residential | Real estate first mortgage
Impaired
Loans with no related allowance for loan losses, Average recorded investment	23	461	230
Loans, Average recorded investment	23	461	230
Consumer | Residential | Real estate junior lien
Impaired
Loans with related allowance for loan losses, Average recorded investment		19
Loans with no related allowance for loan losses, Average recorded investment	98	234	338
Loans, Average recorded investment	98	253	338
Loans with no related allowance for loan losses, Interest income		3	4
Loans, Interest income		3	4
Consumer | Other revolving and installment
Impaired
Loans with related allowance for loan losses, Average recorded investment		28	20
Loans with no related allowance for loan losses, Average recorded investment	1		3
Loans, Average recorded investment	$ 1	$ 28	$ 23

Loans and Allowance for Loan_10

Loans and Allowance for Loan Losses - Pledged (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Loans and Allowance for Loan Losses
Total loans	$ 1,758,020	$ 1,979,375
Pledged
Loans and Allowance for Loan Losses
Total loans	$ 1,200,000	$ 1,200,000

Loans and Allowance for Loan_11

Loans and Allowance for Loan Losses - Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2021loan	Dec. 31, 2020USD ($)loan	Dec. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)
Troubled debt restructuring
Number of loan modifications not considered TDRs, in connection with CARES Act | loan			588
Loan modifications not considered TDRS, in connection with CARES Act			$ 154,600
Maximum
Troubled debt restructuring
Typical loan deferral period under the CARES Act			90 days
Extending amortization period
Troubled debt restructuring
Number of loans modified as a troubled debt restructuring | loan		1
Carrying value of restructured loan				$ 2,600
Specific reserve for loan losses allocated		$ 0		$ 0
Interest Rate Below Market Reduction
Troubled debt restructuring
Number of loans modified as a troubled debt restructuring | loan	3
Carrying value of restructured loan			$ 701
Specific reserve for loan losses allocated			$ 0
Second Deferral
Troubled debt restructuring
Number of loan modifications not considered TDRs, in connection with CARES Act | loan			6
Loan modifications not considered TDRS, in connection with CARES Act			$ 3,300
First Deferral
Troubled debt restructuring
Number of loan modifications not considered TDRs, in connection with CARES Act | loan			2
Loan modifications not considered TDRS, in connection with CARES Act			$ 72

Loans and Allowance for Loan_12

Loans and Allowance for Loan Losses - CARES Act (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)client
PPP Loans
COVID-19 Pandemic Response
Number of clients assisted under the PPP | client	2,454
Loans financed	$ 474,200
Net processing fees	$ 15,700
PPP Loans - Less than $350 Thousand
COVID-19 Pandemic Response
Processing fees on PPP loans (as a percent)	5.00%
Threshold value loans financed under the PPP	$ 350
PPP Loans - $350 Thousand to $2 Million
COVID-19 Pandemic Response
Processing fees on PPP loans (as a percent)	3.00%
PPP Loans - $350 Thousand to $2 Million | Minimum
COVID-19 Pandemic Response
Threshold value loans financed under the PPP	$ 350
PPP Loans - $350 Thousand to $2 Million | Maximum
COVID-19 Pandemic Response
Threshold value loans financed under the PPP	$ 2,000
PPP Loans - $2 Million
COVID-19 Pandemic Response
Processing fees on PPP loans (as a percent)	1.00%
Threshold value loans financed under the PPP	$ 2,000

Land, Premises and Equipment,_3

Land, Premises and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Land, Premises and Equipment, Net
Land, Premises and Equipment	$ 67,895	$ 66,188
Less accumulated depreciation	(49,525)	(45,899)
Total	18,370	20,289
Depreciation expense	3,600	3,900	$ 3,600
Land
Land, Premises and Equipment, Net
Land, Premises and Equipment	4,542	4,542
Buildings and improvements
Land, Premises and Equipment, Net
Land, Premises and Equipment	25,633	25,391
Assets under finance lease
Land, Premises and Equipment, Net
Land, Premises and Equipment	2,657	2,657
Furniture, fixtures, and equipment
Land, Premises and Equipment, Net
Land, Premises and Equipment	$ 35,063	$ 33,598

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill
Total goodwill	$ 31,490	$ 30,201
Banking
Goodwill
Total goodwill	20,131	20,131
Retirement and Benefit Services
Goodwill
Total goodwill	$ 11,359	$ 10,070

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill
Gross Carrying Amount	$ 42,057	$ 47,139
Accumulated Amortization	(21,807)	(21,220)
Total	20,250	25,919
Intangible amortization expense	4,380	3,961	$ 4,081
Identifiable customer intangibles
Goodwill
Gross Carrying Amount	42,057	43,346
Accumulated Amortization	(21,807)	(17,490)
Total	$ 20,250	25,856
Core deposit intangible assets
Goodwill
Gross Carrying Amount		3,793
Accumulated Amortization		(3,730)
Total		$ 63

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Amortization expense for Future Years (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Other Intangible Assets
2022	$ 4,212
2023	4,212
2024	3,959
2025	2,820
2026	1,010
Thereafter	4,037
Total	$ 20,250	$ 25,919

Loan Servicing (Details)

Loan Servicing (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Loans serviced for others	$ 345,800	$ 445,500
Servicing Asset at Fair Value, Amount
Balance, beginning of period	1,987	3,845	$ 4,623
Additions	225	178	342
Amortization	(745)	(922)	(987)
(Impairment)/Recovery	413	(1,114)	(133)
Balance, end of period	1,880	1,987	$ 3,845
Other Liabilities.
Loan servicing obligations	$ 0	$ 0

Loan Servicing - Key economic a

Loan Servicing - Key economic assumptions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Loan Servicing
Fair value of servicing rights	$ 1,880	$ 1,987
Weighted-average remaining term, years	20 years 3 months 18 days	20 years 1 month 6 days
Prepayment speeds	14.20%	17.70%
Discount rate	9.50%	9.00%

Leases - Lease right-of-use ass

Leases - Lease right-of-use assets and liabilities (Details) $ in Thousands	Dec. 31, 2021USD ($)item	Dec. 31, 2020USD ($)
Leases
Number of finance leases | item	1
Lease Right-of-Use Assets
Operating lease right-of-use assets	$ 3,727	$ 6,918
Finance lease right-of-use assets	$ 87	$ 202
Finance Lease, Right-of-Use Asset, balance sheet location	Land, premises and equipment, net	Land, premises and equipment, net
Lease right-of-use assets	$ 3,814	$ 7,120
Operating lease liabilities	4,275	7,861
Finance lease liabilities	$ 203	$ 430
Finance lease liabilities, balance sheet location	Long-term debt	Long-term debt
Lease liabilities	$ 4,478	$ 8,291

Leases - Weighted-average remai

Leases - Weighted-average remaining lease term and average discount rate (Details) - item	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases
Minimum number of options to renew lease agreements	1
Weighted-average remaining lease term, Operating leases	3 years 4 months 24 days	5 years 9 months 18 days
Weighted-average remaining lease term, Finance leases	9 months 18 days	1 year 9 months 18 days
Weighted-average discount rate, Operating leases	2.50%	2.90%
Weighted-average discount rate, Finance leases	7.80%	7.80%

Leases - Lease costs and other

Leases - Lease costs and other lease information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lease costs
Operating lease cost	$ 1,827	$ 2,457	$ 2,378
Variable lease cost	823	1,170	819
Short-term lease cost	181	395	535
Finance lease cost
Interest on lease liabilities	25	42	58
Amortization of right-of-use assets	116	116	116
Sublease Income	(228)	(228)	(270)
Net lease cost	2,744	3,952	3,636
Cash paid for amounts included in the measurement of lease liabilities operating cash flows from operating leases	1,763	2,432	$ 2,376
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 267	$ 1,555

Leases - Future minimum payment

Leases - Future minimum payments for finance and operating leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finance leases
2022	$ 209
Total future minimum lease payments	209
Amounts representing interest	(6)
Total finance lease liabilities	203	$ 430
Operating leases
2022	1,663
2023	1,343
2024	579
2025	447
2026	252
Thereafter	423
Total future minimum lease payments	4,707
Amounts representing interest	(432)
Total operating lease liabilities	$ 4,275	$ 7,861

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Assets
Federal Reserve Bank stock	$ 2,675	$ 2,675
Foreclosed assets	885	63
Prepaid expenses	5,325	4,754
Investments in partnerships	14	14
Trust fees accrued/receivable	14,680	12,508
Income tax refund receivable	1,146	1,631
Federal Home Loan Bank stock	3,806	3,090
Derivative instruments	3,382	13,773
Tax credit investments	7,906
Other assets	2,889	5,642
Total	$ 42,708	$ 44,150

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deposits.
Noninterest-bearing	$ 938,840	$ 754,716
Interest-bearing demand	714,669	618,900
Savings accounts	96,825	79,902
Money market savings	937,305	909,137
Time deposits	232,912	209,338
Total interest-bearing	1,981,711	1,817,277
Total deposits	2,920,551	2,571,993
Deposit overdrafts	$ 2,900	$ 96

Deposits - Scheduled maturities

Deposits - Scheduled maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deposits.
Certificates of deposit in excess of $250,000	$ 91,500	$ 62,100
2022	210,360
2023	9,057
2024	3,899
2025	3,268
2026	4,252
Thereafter	2,076
Total	$ 232,912	$ 209,338

Short-Term Borrowings (Details)

Short-Term Borrowings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Federal Funds Purchased
Short-term borrowings
Average daily balance	$ 3	$ 80	$ 61,709
Maximum month-end balance			$ 139,605
During period			2.54%
Federal Home Loan Bank Advances
Short-term borrowings
Average daily balance			$ 9,712
Maximum month-end balance			$ 135,000
During period			2.44%

Short-Term Borrowings - Narrati

Short-Term Borrowings - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Federal Funds Purchased
Short-term borrowings
Outstanding credit facility	$ 0	$ 0
Unsecured maximum borrowing capacity	87	87
Federal Home Loan Bank Advances
Short-term borrowings
Outstanding credit facility	677.4	$ 631.7
Unsecured Line Of Credit With Bank of North Dakota
Short-term borrowings
Unused line of credit	$ 15

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Long-Term Debt
Face Value	$ 63,010	$ 63,010
Carrying Amount	58,933	58,735
Subordinated notes payable
Long-Term Debt
Face Value	50,000	50,000
Carrying Amount	$ 50,000	$ 49,688
Fixed interest rate	3.50%
Period End Interest Rate		4.36%
Subordinated notes payable | Three - month LIBOR
Long-Term Debt
Interest Rate		4.12%
Junior subordinated debenture (Trust I)
Long-Term Debt
Face Value	$ 4,124	$ 4,124
Carrying Amount	$ 3,492	$ 3,447
Period End Interest Rate	3.32%	3.35%
Junior subordinated debenture (Trust I) | Three - month LIBOR
Long-Term Debt
Interest Rate	3.10%	3.10%
Junior subordinated debenture (Trust II)
Long-Term Debt
Face Value	$ 6,186	$ 6,186
Carrying Amount	$ 5,238	$ 5,170
Period End Interest Rate	2.00%	2.02%
Junior subordinated debenture (Trust II) | Three - month LIBOR
Long-Term Debt
Interest Rate	1.80%	1.80%
Finance lease liability
Long-Term Debt
Face Value	$ 2,700	$ 2,700
Carrying Amount	$ 203	$ 430
Fixed interest rate	7.81%	7.81%

Financial Instruments with Of_3

Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financial Instruments with Off Balance Sheet Risk
Amount of credit risk	$ 678,644	$ 617,650
Commitments to extend credit
Financial Instruments with Off Balance Sheet Risk
Amount of credit risk	668,115	611,140
Standby letters of credit
Financial Instruments with Off Balance Sheet Risk
Amount of credit risk	$ 10,529	$ 6,510

Financial Instruments with Off

Financial Instruments with Off Balance Sheet Risk - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Letter of credit with FHLB
Financial Instruments with Off Balance Sheet Risk
Outstanding letters of credit	$ 150	$ 150
Letter of credit with Bank of North Dakota
Financial Instruments with Off Balance Sheet Risk
Outstanding letters of credit	0	0
Collateralized loans	$ 229,700	$ 245,700

Share-Based Compensation Plan -

Share-Based Compensation Plan - Plan Information (Details) - shares	12 Months Ended
	Dec. 31, 2021	May 06, 2019	May 31, 2009
2019 Equity Incentive Plan
Share-Based Compensation
Awards authorized		1,100,000
Forfeited	23,807
Number of shares available for grant	993,216
2019 Equity Incentive Plan | Restricted stock awards
Share-Based Compensation
Awards issued	39,289
2019 Equity Incentive Plan | Restricted stock units
Share-Based Compensation
Awards issued	91,302
2009 Plan
Share-Based Compensation
Awards authorized			1,350,000
Number of shares available for grant		0

Share-Based Compensation Plan_2

Share-Based Compensation Plan - Activity in stock (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Additional disclosures
Compensation expense	$ 3.1	$ 1.9	$ 1.5
Restricted Stock Awards and Units.
Restricted Stock Awards and Units
Outstanding at beginning of period	325,030	347,211
Granted	66,664	82,494
Vested	(104,119)	(91,346)
Forfeited or cancelled	(26,725)	(13,329)
Outstanding at end of period	260,850	325,030	347,211
Weighted Average Grant Date Fair Value
Outstanding at beginning of period	$ 19.48	$ 18.64
Granted	26.63	19.62
Vested	20.51	16.39
Forfeited or cancelled	18.03	19.62
Outstanding at end of period	$ 21.04	$ 19.48	$ 18.64
Additional disclosures
Unrecognized compensation cost	$ 2.2	$ 2.8
Weighted average period	2 years 10 months 28 days	3 years 10 months 9 days
2009 Plan | Restricted stock awards
Restricted Stock Awards and Units
Outstanding at beginning of period	203,253
Outstanding at end of period	140,228	203,253
2009 Plan | Restricted stock units
Restricted Stock Awards and Units
Outstanding at beginning of period	121,777
Outstanding at end of period	120,622	121,777

Share-Based Compensation Plan_3

Share-Based Compensation Plan - Retainer Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	May 31, 2009
Additional disclosures
Compensation expense	$ 3.1	$ 1.9	$ 1.5
Stock Grant Plan | Restricted stock awards | Non Employee Director
Share-Based Compensation
Available for future grant, at beginning	0	0
Retainer shares awarded	0	0
Plan Expiration		0
Available for future grant, at ending	0	0	0
Outstanding at beginning of period	167,319	167,319
Retainer shares awarded	0	0
Outstanding at end of period	167,319	167,319	167,319
Additional disclosures
Awards authorized				180,000
Compensation expense	$ 0	$ 0	$ 0.3

Employee Benefits - Deferral Pe

Employee Benefits - Deferral Percentages (Details)	12 Months Ended
	Dec. 31, 2021plan
Employee Benefits
Number of employee retirement plans	2
401K Plan
Employee Benefits
Company contribution percentage of amounts deferred by employee's up to 3% of compensation	100.00%
Company contribution percentage of amounts deferred by employee's between 3%-6% of compensation	50.00%
401K Plan | Minimum
Employee Benefits
Percentage of eligible compensation	3.00%
401K Plan | Maximum
Employee Benefits
Percentage of eligible compensation	6.00%

Employee Benefits - Retirement

Employee Benefits - Retirement plan contribution (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee Benefits
Retirement plan contributions	$ 5,137	$ 5,126	$ 4,435
Total ESOP shares outstanding	1,207,952	1,170,611	1,307,439
Salary Reduction Plan
Employee Benefits
Retirement plan contributions	$ 3,123	$ 2,960	$ 2,599
ESOP
Employee Benefits
Retirement plan contributions	$ 2,014	$ 2,166	$ 1,836

Noninterest Income (Details)

Noninterest Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Noninterest income
Mortgage banking	$ 48,502	$ 61,641	$ 25,805
Net gains (losses) on investment securities	125	2,737	357
Bank-owned life insurance income	793	797	803
Total noninterest income	147,387	149,371	114,194
Retirement and Benefit Services
Noninterest income
Revenue	71,709	60,956	63,811
Wealth Management
Noninterest income
Revenue	21,052	17,451	15,502
Deposit Account
Noninterest income
Revenue	1,395	1,409	1,772
Interchange Fees
Noninterest income
Revenue	2,180	2,140	1,972
Transactional Fees
Noninterest income
Revenue	1,218	1,246	1,236
Other Noninterest
Noninterest income
Revenue	$ 413	$ 994	$ 2,936

Noninterest Income - Contract C

Noninterest Income - Contract Costs (Details)	12 Months Ended
	Dec. 31, 2021
Noninterest Income
Revenue, Practical Expedient, Incremental Cost of Obtaining Contract	true

Income Taxes - Components (Deta

Income Taxes - Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Federal
Current	$ 10,731	$ 14,541	$ 7,091
Deferred	2,212	(3,615)	267
Federal income tax	12,943	10,926	7,358
State
Current	2,879	3,736	1,926
Deferred	574	(819)	72
State income tax	3,453	2,917	1,998
Applicable income taxes	$ 16,396	$ 13,843	$ 9,356

Income Taxes - Deferred tax ass

Income Taxes - Deferred tax assets and deferred tax liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred Tax Assets
Allowance for loan losses	$ 7,925	$ 8,556
Employee compensation and benefit accruals	2,762	2,608
Expense accruals	634	352
Identifiable intangible amortization	3,341	3,388
Deferred loan fees	58	1,204
Net operating loss carry forwards	42	173
Nonaccrual loan interest	86	62
Unrealized gain on available-for-sale investment securities	1,426
Other	518	505
Total deferred tax assets from temporary differences	16,792	16,848
Deferred Tax Liabilities
Accumulated depreciation	918	314
Goodwill and intangible amortization	2,752	2,258
Servicing assets	451	511
Prepaid expenses	1,014	785
Unrealized loss on available-for-sale investment securities		3,566
Other	43	5
Total deferred tax liabilities from temporary differences	5,178	7,439
Net Deferred Tax Assets	$ 11,614	$ 9,409

Income Taxes - Reconciliation b

Income Taxes - Reconciliation between applicable income taxes and statutory federal tax rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Tax amount
Taxes at statutory federal income tax rate	$ 14,506	$ 12,289	$ 8,168
Tax exempt income	(556)	(527)	(442)
State income taxes, net of federal benefits	2,973	2,522	1,618
Nondeductible items and other	(527)	(441)	12
Applicable income taxes	$ 16,396	$ 13,843	$ 9,356
Percentage of pretax income
Taxes at statutory federal income tax rate (as percentage)	21.00%	21.00%	21.00%
Tax exempt income (as percentage)	(0.80%)	(0.90%)	(1.10%)
State income taxes, net of federal benefits (as percentage)	4.30%	4.30%	4.20%
Nondeductible items and other (as percentage)	(0.80%)	(0.80%)
Applicable income taxes (as percentage)	23.70%	23.60%	24.10%

Tax Credit Investments (Details

Tax Credit Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Tax Credit Investments [Line items]
Investment	$ 7,906
Amortization expense on housing projects tax credit investments	0
Proportional amortization
Tax Credit Investments [Line items]
Investment	$ 7,906

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)segmentitem	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Segment Reporting
Number of operating segments | segment	4
Number of banking offices | item	14
Key metrics related to segments
Net interest income	$ 87,099	$ 83,846	$ 74,551
Provision for loan losses	(3,500)	10,900	7,312
Noninterest income	147,387	149,371	114,194
Noninterest expense	168,909	163,799	142,537
Net income before taxes	69,077	58,518	38,896
Total assets	3,392,691	3,013,771	2,356,878
Corporate Administration
Key metrics related to segments
Net interest income	(1,896)	(3,413)	(3,610)
Noninterest income	33	(694)	2,106
Noninterest expense	37,725	37,068	34,894
Net income before taxes	(39,588)	(41,175)	(36,398)
Total assets	13,402	10,134	10,412
Banking | Operating Segments
Key metrics related to segments
Net interest income	87,014	85,167	76,916
Provision for loan losses	(3,500)	10,900	7,312
Noninterest income	6,091	10,017	6,970
Noninterest expense	44,989	46,883	43,171
Net income before taxes	51,616	37,401	33,403
Total assets	3,254,979	2,827,792	2,259,614
Retirement and Benefit Services | Operating Segments
Key metrics related to segments
Noninterest income	71,709	60,956	63,811
Noninterest expense	40,164	35,236	35,407
Net income before taxes	31,545	25,720	28,404
Total assets	44,953	47,758	39,021
Wealth Management | Operating Segments
Key metrics related to segments
Noninterest income	21,052	17,451	15,502
Noninterest expense	8,869	8,289	7,188
Net income before taxes	12,183	9,162	8,314
Total assets	3,644	3,009	128
Mortgage | Operating Segments
Key metrics related to segments
Net interest income	1,981	2,092	1,245
Noninterest income	48,502	61,641	25,805
Noninterest expense	37,162	36,323	21,877
Net income before taxes	13,321	27,410	5,173
Total assets	$ 75,713	$ 125,078	$ 47,703

Earnings Per Share - Two-class

Earnings Per Share - Two-class method (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share
Net Income	$ 52,681	$ 44,675	$ 29,540
Dividends and undistributed earnings allocated to participating securities	802	770	647
Net income available to common shareholders	$ 51,879	$ 43,905	$ 28,893
Weighted-average common shares outstanding for basic earnings per share	17,189	17,106	14,736
Dilutive effect of stock-based awards	297	332	357
Weighted-average common shares outstanding for diluted earnings per share	17,486	17,438	15,093
Earnings per common share:
Basic earnings per common share	$ 3.02	$ 2.57	$ 1.96
Diluted earnings per common share	$ 2.97	$ 2.52	$ 1.91

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Related Party Transactions
Beginning balance	$ 254	$ 307
New loans and advances	132	271
Repayments	(352)	(322)
Changes to related parties (1)		(2)
Ending balance	34	254
Deposits from related parties	$ 3,600	$ 3,100

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments
Fair Value, Derivative Assets	$ 3,382	$ 13,773
Not designated as hedging
Derivative Instruments
Fair Value, Derivative Assets	3,397	13,357
Fair Value, Derivative Liabilities	1,368	2,911
Notional Amount, Derivative Assets	207,560	401,690
Notional Amount, Derivative Liabilities	44,826	351,597
Not designated as hedging | Interest rate swaps | Other assets
Derivative Instruments
Fair Value, Derivative Assets	1,366	569
Notional Amount, Derivative Assets	44,826	44,597
Not designated as hedging | Interest rate swaps | Accrued expenses and other liabilities
Derivative Instruments
Fair Value, Derivative Liabilities	1,368	572
Notional Amount, Derivative Liabilities	44,826	44,597
Not designated as hedging | Interest rate lock commitments | Other assets
Derivative Instruments
Fair Value, Derivative Assets	1,507	10,124
Notional Amount, Derivative Assets	52,316	270,103
Not designated as hedging | Forward loan sales commitments | Other assets
Derivative Instruments
Fair Value, Derivative Assets	490	2,664
Notional Amount, Derivative Assets	13,418	86,990
Not designated as hedging | TBA mortgage backed securities | Other assets
Derivative Instruments
Fair Value, Derivative Assets	34
Notional Amount, Derivative Assets	$ 97,000
Not designated as hedging | TBA mortgage backed securities | Accrued expenses and other liabilities
Derivative Instruments
Fair Value, Derivative Liabilities		2,339
Notional Amount, Derivative Liabilities		$ 307,000

Derivative Instruments - Collat

Derivative Instruments - Collateral (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments
Collateral held by third parties	$ 19	$ 2,700

Derivative Instruments - Gain (

Derivative Instruments - Gain (loss) recognized on derivatives instruments (Details) - Not designated as hedging - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Gain (loss) recognized on derivative instruments
Total gain/(loss) from derivative instruments	$ (5,613)	$ (1,931)	$ 1,507
Interest rate swaps | Other noninterest income
Gain (loss) recognized on derivative instruments
Total gain/(loss) from derivative instruments	1	(3)
Interest rate lock commitments | Mortgage banking
Gain (loss) recognized on derivative instruments
Total gain/(loss) from derivative instruments	(8,660)	8,798	1,216
Forward loan sales commitments | Mortgage banking
Gain (loss) recognized on derivative instruments
Total gain/(loss) from derivative instruments	(2,174)	2,271	400
TBA mortgage backed securities | Mortgage banking
Gain (loss) recognized on derivative instruments
Total gain/(loss) from derivative instruments	$ 5,220	$ (12,997)	$ (109)

Regulatory Matters (Details)

Regulatory Matters (Details) $ in Thousands	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Common equity tier 1 capital to risk weighted assets
Actual (Amount)	$ 314,628	$ 265,490
Requirements for Capital Adequacy Purposes (Amount)	$ 96,647	$ 93,723
Actual (Ratio)	14.65	12.75
Requirements for Capital Adequacy Purposes (Ratio)	4.50	4.50
Tier 1 capital to risk weighted assets
Actual (Amount)	$ 323,358	$ 273,797
Requirements for Capital Adequacy Purposes (Amount)	$ 128,862	$ 124,964
Actual (Ratio)	15.06	13.15
Requirements for Capital Adequacy Purposes (Ratio)	6	6
Total capital to risk weighted assets
Actual (Amount)	$ 400,263	$ 349,620
Requirements for Capital Adequacy Purposes (Amount)	$ 171,816	$ 166,618
Actual (Ratio)	18.64	16.79
Requirements for Capital Adequacy Purposes (Ratio)	8	8
Tier 1 capital to average assets
Actual (Amount)	$ 323,358	$ 273,797
Requirements for Capital Adequacy Purposes (Amount)	$ 132,112	$ 118,587
Actual (Ratio)	9.79	9.24
Requirements for Capital Adequacy Purposes (Ratio)	4	4
Bank
Common equity tier 1 capital to risk weighted assets
Actual (Amount)	$ 297,453	$ 251,806
Requirements for Capital Adequacy Purposes (Amount)	96,538	93,632
Minimum to be Well Capitalized Under Prompt Corrective Action (Amount)	$ 139,444	$ 135,246
Actual (Ratio)	13.87	12.10
Requirements for Capital Adequacy Purposes (Ratio)	4.50	4.50
Minimum to be Well Capitalized Under Prompt Corrective Action (Ratio)	6.50	6.50
Tier 1 capital to risk weighted assets
Actual (Amount)	$ 297,453	$ 251,806
Requirements for Capital Adequacy Purposes (Amount)	128,718	124,843
Minimum to be Well Capitalized Under Prompt Corrective Action (Amount)	$ 171,624	$ 166,457
Actual (Ratio)	13.87	12.10
Requirements for Capital Adequacy Purposes (Ratio)	6	6
Minimum to be Well Capitalized Under Prompt Corrective Action (Ratio)	8	8
Total capital to risk weighted assets
Actual (Amount)	$ 324,328	$ 277,916
Requirements for Capital Adequacy Purposes (Amount)	171,624	166,457
Minimum to be Well Capitalized Under Prompt Corrective Action (Amount)	$ 214,530	$ 208,071
Actual (Ratio)	15.12	13.36
Requirements for Capital Adequacy Purposes (Ratio)	8	8
Minimum to be Well Capitalized Under Prompt Corrective Action (Ratio)	10	10
Tier 1 capital to average assets
Actual (Amount)	$ 297,453	$ 251,806
Requirements for Capital Adequacy Purposes (Amount)	132,039	118,511
Minimum to be Well Capitalized Under Prompt Corrective Action (Amount)	$ 165,049	$ 148,139
Actual (Ratio)	9.01	8.50
Requirements for Capital Adequacy Purposes (Ratio)	4	4
Minimum to be Well Capitalized Under Prompt Corrective Action (Ratio)	5	5

Stock Repurchase Program (Detai

Stock Repurchase Program (Details) - USD ($)	Feb. 18, 2021	Dec. 31, 2021
Stock Repurchase Program
Authorized amount for shares repurchase	$ 770,000
Repurchase program period	36 months
Shares repurchased		0

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities - Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	$ 853,649	$ 592,342
Derivative instruments	3,382	13,773
U.S. treasury and government agencies
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	5,103	5,907
Mortgage backed securities - Residential agency
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	707,157	306,719
Mortgage backed securities - Commercial
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	90,913	94,978
Asset backed securities
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	54	115
Corporate bonds
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	50,422	30,850
Recurring
Fair value, assets and liabilities measured on recurring and non recurring basis
Total available-for-sale investment securities	853,649	592,342
Derivative instruments	3,397	13,357
Derivative liabilities	1,368	2,911
Recurring | U.S. treasury and government agencies
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	5,103	5,907
Recurring | Obligations of state and political agencies
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value		153,773
Recurring | Mortgage backed securities - Residential agency
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	707,157	306,719
Recurring | Mortgage backed securities - Commercial
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	90,913	94,978
Recurring | Asset backed securities
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	54	115
Recurring | Corporate bonds
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	50,422	30,850
Recurring | Level 2
Fair value, assets and liabilities measured on recurring and non recurring basis
Total available-for-sale investment securities	853,649	592,342
Derivative instruments	3,397	13,357
Derivative liabilities	1,368	2,911
Recurring | Level 2 | U.S. treasury and government agencies
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	5,103	5,907
Recurring | Level 2 | Obligations of state and political agencies
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value		153,773
Recurring | Level 2 | Mortgage backed securities - Residential agency
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	707,157	306,719
Recurring | Level 2 | Mortgage backed securities - Commercial
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	90,913	94,978
Recurring | Level 2 | Asset backed securities
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	54	115
Recurring | Level 2 | Corporate bonds
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value	$ 50,422	$ 30,850

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities - Nonrecurring Basis (Details) - Non recurring - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair value, assets and liabilities measured on recurring and non recurring basis
Impaired loans	$ 2,469	$ 7,325
Foreclosed assets	885	63
Servicing rights	1,880	1,987
Loans held for sale
Fair value, assets and liabilities measured on recurring and non recurring basis
Loans held for sale	46,490	122,440
Impaired loans
Fair value, assets and liabilities measured on recurring and non recurring basis
Net impairment	283	1,205
Level 2 | Loans held for sale
Fair value, assets and liabilities measured on recurring and non recurring basis
Loans held for sale	46,490	122,440
Level 3
Fair value, assets and liabilities measured on recurring and non recurring basis
Impaired loans	2,469	7,325
Foreclosed assets	885	63
Servicing rights	$ 1,880	$ 1,987

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities - Valuation Technique (Details) - Level 3 $ in Thousands	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Impaired loans | Appraisal value | Property specific adjustment
Valuation techniques and significant unobservable inputs
Impaired loans	$ 2,469	$ 7,325
Foreclosed assets | Appraisal value | Property specific adjustment
Valuation techniques and significant unobservable inputs
Foreclosed assets	$ 885	$ 63
Servicing rights
Valuation techniques and significant unobservable inputs
Loans Held-for-sale, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Servicing rights | Prepayment speed assumptions
Valuation techniques and significant unobservable inputs
Servicing rights	$ 1,880	$ 1,987
Servicing rights | Prepayment speed assumptions | Minimum
Valuation techniques and significant unobservable inputs
Servicing Asset, Measurement Input	161	191
Servicing rights | Prepayment speed assumptions | Maximum
Valuation techniques and significant unobservable inputs
Servicing Asset, Measurement Input	327	403
Servicing rights | Prepayment speed assumptions | Weighted average
Valuation techniques and significant unobservable inputs
Servicing Asset, Measurement Input	237	285
Servicing rights | Discount rate
Valuation techniques and significant unobservable inputs
Servicing Asset, Measurement Input	0.095	0.090
Servicing rights | Discount rate | Weighted average
Valuation techniques and significant unobservable inputs
Servicing Asset, Measurement Input	0.095	0.090

Fair Value of Assets and Liab_6

Fair Value of Assets and Liabilities - Off-Balance Sheet Credit-Related Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financial Assets
Investment securities held-to-maturity	$ 349,677
Carrying Amount
Financial Assets
Cash and cash equivalents	242,311	$ 172,962
Investment securities held-to-maturity	352,061
Loans	1,726,448	1,945,129
Accrued interest receivable	8,537	9,662
Bank-owned life insurance	33,156	32,363
Financial Liabilities
Noninterest-bearing deposits	938,840	754,716
Interest-bearing deposits	1,748,799	1,607,939
Time deposits	232,912	209,338
Long-term debt	58,933	58,735
Accrued interest payable	1,674	654
Estimated Fair Value
Financial Assets
Cash and cash equivalents	242,311	172,962
Investment securities held-to-maturity	349,677
Loans	1,760,784	1,992,394
Accrued interest receivable	8,537	9,662
Bank-owned life insurance	33,156	32,363
Financial Liabilities
Noninterest-bearing deposits	938,840	754,716
Interest-bearing deposits	1,748,799	1,607,939
Time deposits	232,970	210,637
Long-term debt	57,772	56,131
Accrued interest payable	1,674	654
Level 1 | Estimated Fair Value
Financial Assets
Cash and cash equivalents	242,311	172,962
Accrued interest receivable	8,537	9,662
Financial Liabilities
Accrued interest payable	1,674	654
Level 2 | Estimated Fair Value
Financial Assets
Investment securities held-to-maturity	349,677
Bank-owned life insurance	33,156	32,363
Financial Liabilities
Noninterest-bearing deposits	938,840	754,716
Interest-bearing deposits	1,748,799	1,607,939
Long-term debt	57,772	56,131
Level 3 | Estimated Fair Value
Financial Assets
Loans	1,760,784	1,992,394
Financial Liabilities
Time deposits	$ 232,970	$ 210,637

Parent Company Only Financial_3

Parent Company Only Financial Statements - Parent Company Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 242,311	$ 172,962
Land, premises and equipment, net	18,370	20,289
Deferred income taxes, net	11,614	9,409
Other assets	42,708	44,150
Total assets	3,392,691	3,013,771	$ 2,356,878
Liabilities and Stockholders' Equity
Long-term debt	58,933	58,735
Accrued expenses and other liabilities	49,529	45,019
Total liabilities	3,033,288	2,683,608
Total stockholders' equity	359,403	330,163	$ 285,728	$ 162,460
Total liabilities and stockholders' equity	3,392,691	3,013,771
Parent Company
Assets
Cash and cash equivalents	81,753	76,701
Land, premises and equipment, net	87	202
Investment in subsidiaries	342,538	316,789
Deferred income taxes, net	1,000	1,007
Other assets	655	589
Total assets	426,033	395,288
Liabilities and Stockholders' Equity
Long-term debt	58,933	58,735
Accrued expenses and other liabilities	7,697	6,390
Total liabilities	66,630	65,125
Total stockholders' equity	359,403	330,163
Total liabilities and stockholders' equity	$ 426,033	$ 395,288

Parent Company Only Financial_4

Parent Company Only Financial Statements - Parent Company Condensed Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Total interest income	$ 92,657	$ 96,102	$ 93,300
Expenses	5,558	12,256	18,749
Income before income taxes	69,077	58,518	38,896
Income tax benefit	(16,396)	(13,843)	(9,356)
Net income	52,681	44,675	29,540
Parent Company
Dividends from subsidiaries	16,000	16,000	15,000
Other income	4	10	15
Total interest income	16,004	16,010	15,015
Expenses	5,293	6,057	5,999
Income before equity in undistributed income	10,711	9,953	9,016
Equity in undistributed income of subsidiaries	40,642	33,208	19,089
Income before income taxes	51,353	43,161	28,105
Income tax benefit	1,328	1,514	1,435
Net income	$ 52,681	$ 44,675	$ 29,540

Parent Company Only Financial_5

Parent Company Only Financial Statements - Parent Company Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	Sep. 25, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Activities
Net income		$ 52,681	$ 44,675	$ 29,540
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization		8,868	8,950	8,768
Stock-based compensation cost		3,095	1,927	1,750
Net cash provided (used) by operating activities		149,116	(22,262)	19,248
Investing Activities
Acquisitions, net cash acquired			9,279
Net cash provided by investing activities		(416,942)	(538,380)	(65,594)
Financing Activities
Repurchase of common stock		(712)	(482)	(1,948)
Proceeds from the issuance of common stock in initial public offering net of issuance costs	$ 62,800			62,804
Net cash provided (used) by financing activities		337,175	589,598	149,701
Net change in cash and cash equivalents		69,349	28,956	103,355
Cash and cash equivalents at beginning of period		172,962	144,006	40,651
Cash and cash equivalents at end of period		242,311	172,962	144,006
Parent Company
Operating Activities
Net income		52,681	44,675	29,540
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed income of subsidiaries		(40,642)	(33,208)	(19,089)
Depreciation and amortization		115	116	115
Stock-based compensation cost		3,095	1,927	251
Other, net		1,266	413	2,676
Net cash provided (used) by operating activities		16,515	13,923	13,493
Financing Activities
Cash dividends paid on common stock		(10,751)	(10,387)	(8,909)
Repurchase of common stock		(712)	(482)	(1,948)
Proceeds from the issuance of common stock in initial public offering net of issuance costs				62,804
Net cash provided (used) by financing activities		(11,463)	(10,869)	51,947
Net change in cash and cash equivalents		5,052	3,054	65,440
Cash and cash equivalents at beginning of period		76,701	73,647	8,207
Cash and cash equivalents at end of period		$ 81,753	$ 76,701	$ 73,647

Branch Sale (Details)

Branch Sale (Details) - Disposed of by Sale - Branch Offices in Duluth, MN $ in Millions	Apr. 26, 2019USD ($)
Branch Sale
Loans and Leases Receivable, Net Amount	$ 28.3
Deposits	19.4
Pre-tax gain on sale of branch	$ 1.5

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Jan. 19, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Subsequent Events
Dividends declared per common share		$ 0.63	$ 0.60	$ 0.57
Subsequent Events
Subsequent Events
Dividends declared per common share	$ 0.16