Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 27, 2023 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Fiscal Period Focus | Q2 | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-35021 | |
Entity Registrant Name | EVANS BANCORP, INC. | |
Entity Incorporation, State or Country Code | NY | |
Entity Tax Identification Number | 16-1332767 | |
Entity Address, Address Line One | 6460 Main St. | |
Entity Address, City or Town | Williamsville | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 14221 | |
City Area Code | 716 | |
Local Phone Number | 926-2000 | |
Title of 12(b) Security | Common Stock, $0.50 par value | |
Trading Symbol | EVBN | |
Security Exchange Name | NYSEAMER | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 5,477,505 | |
Amendment Flag | false | |
Entity Central Index Key | 0000842518 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2023 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
ASSETS | ||
Cash and due from banks | $ 15,197 | $ 16,796 |
Interest-bearing deposits at banks | 10,334 | 6,258 |
Securities: | ||
Available for sale, at fair value and net of valuation allowance (amortized cost: $416,403 at June 30, 2023; $428,216 at December 31, 2022) | 351,595 | 364,326 |
Held to maturity, at amortized cost and net of valuation allowance (fair value: $2,149 at June 30, 2023; $6,809 at December 31, 2022) | 2,241 | 6,949 |
Federal Home Loan Bank common stock, at cost | 3,939 | 10,437 |
Federal Reserve Bank common stock, at cost | 3,087 | 3,074 |
Loans, net of allowance for credit losses of $21,368 at June 30, 2023 and $19,438 at December 31, 2022 | 1,649,385 | 1,652,931 |
Properties and equipment, net of accumulated depreciation of $11,923 at June 30, 2023 and $11,596 at December 31, 2022 | 16,194 | 16,999 |
Goodwill | 12,702 | 12,702 |
Intangible assets | 1,027 | 1,227 |
Bank-owned life insurance | 42,288 | 41,826 |
Operating lease right-of-use asset | 4,297 | 4,392 |
Other assets | 42,677 | 40,593 |
TOTAL ASSETS | 2,154,963 | 2,178,510 |
Deposits: | ||
Demand | 442,195 | 493,710 |
NOW | 303,159 | 273,359 |
Savings | 726,687 | 801,943 |
Time | 314,574 | 202,667 |
Total deposits | 1,786,615 | 1,771,679 |
Securities sold under agreement to repurchase | 19,185 | 7,147 |
Other borrowings | 140,386 | 193,001 |
Operating lease liability | 4,604 | 4,723 |
Other liabilities | 13,563 | 16,892 |
Subordinated debt | 31,126 | 31,075 |
Total liabilities | 1,995,479 | 2,024,517 |
STOCKHOLDERS' EQUITY: | ||
Common stock, $0.50 par value, 10,000,000 shares authorized; 5,581,183 and 5,544,339 shares issued at June 30, 2023 and December 31, 2022, respectively, and 5,477,505 and 5,437,048 shares outstanding at June 30, 2023 and December 31, 2022, respectively. | 2,795 | 2,775 |
Capital surplus | 81,777 | 81,031 |
Treasury stock, at cost, 103,678 and 107,291 shares at June 30, 2023 and December 31, 2022, respectively | (3,656) | (3,891) |
Retained earnings | 128,465 | 123,356 |
Accumulated other comprehensive income (loss), net of tax | (49,897) | (49,278) |
Total stockholders' equity | 159,484 | 153,993 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 2,154,963 | $ 2,178,510 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Securities: | ||
Available for sale, amortized cost | $ 416,403 | $ 428,216 |
Held to maturity, fair value | 2,149 | 6,809 |
Loans, allowance for loan losses | 21,368 | 19,438 |
Properties and equipment, accumulated depreciation | $ 11,923 | $ 11,596 |
STOCKHOLDERS' EQUITY: | ||
Common stock, par value | $ 0.50 | $ 0.50 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 5,581,183 | 5,544,339 |
Common stock, shares outstanding | 5,477,505 | 5,437,048 |
Treasury stock, shares | 103,678 | 107,291 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
INTEREST INCOME | ||||
Loans | $ 21,602 | $ 16,828 | $ 42,488 | $ 32,552 |
Interest-bearing deposits at banks | 80 | 226 | 176 | 296 |
Securities: | ||||
Taxable | 2,252 | 1,984 | 4,546 | 3,661 |
Non-taxable | 54 | 59 | 143 | 105 |
Total interest income | 23,988 | 19,097 | 47,353 | 36,614 |
INTEREST EXPENSE | ||||
Deposits | 6,280 | 580 | 10,295 | 1,148 |
Other borrowings | 1,486 | 42 | 2,985 | 89 |
Subordinated debt | 541 | 423 | 1,067 | 824 |
Total interest expense | 8,307 | 1,045 | 14,347 | 2,061 |
NET INTEREST INCOME | 15,681 | 18,052 | 33,006 | 34,553 |
PROVISION FOR CREDIT LOSSES | (116) | 267 | (770) | 488 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 15,797 | 17,785 | 33,776 | 34,065 |
NON-INTEREST INCOME | ||||
Deposit service charges | 645 | 703 | 1,258 | 1,395 |
Insurance service and fees | 2,720 | 2,567 | 5,149 | 4,866 |
Bank-owned life insurance | 238 | 171 | 462 | 325 |
Interchange fee income | 528 | 539 | 1,021 | 1,031 |
Other | 570 | 632 | 924 | 1,426 |
Total non-interest income | 4,701 | 4,612 | 8,814 | 9,043 |
NON-INTEREST EXPENSE | ||||
Salaries and employee benefits | 8,649 | 9,436 | 18,062 | 18,906 |
Occupancy | 1,145 | 1,131 | 2,318 | 2,311 |
Advertising and public relations | 407 | 438 | 563 | 617 |
Professional services | 808 | 843 | 1,691 | 1,715 |
Technology and communications | 1,542 | 1,237 | 2,898 | 2,411 |
Amortization of intangibles | 100 | 100 | 200 | 200 |
FDIC insurance | 350 | 250 | 700 | 520 |
Other | 1,171 | 1,349 | 2,242 | 2,564 |
Total non-interest expense | 14,172 | 14,784 | 28,674 | 29,244 |
INCOME BEFORE INCOME TAXES | 6,326 | 7,613 | 13,916 | 13,864 |
INCOME TAX PROVISION | 1,394 | 1,879 | 3,184 | 3,382 |
NET INCOME | $ 4,932 | $ 5,734 | $ 10,732 | $ 10,482 |
Net income per common share-basic | $ 0.90 | $ 1.04 | $ 1.97 | $ 1.90 |
Net income per common share-diluted | $ 0.90 | $ 1.03 | $ 1.96 | $ 1.89 |
Weighted average number of common shares outstanding | 5,467,897 | 5,512,741 | 5,456,189 | 5,503,811 |
Weighted average number of diluted shares outstanding | 5,474,462 | 5,550,436 | 5,476,024 | 5,548,533 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive (Loss) Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Consolidated Statements Of Comprehensive (Loss) Income [Abstract] | ||||
NET INCOME | $ 4,932 | $ 5,734 | $ 10,732 | $ 10,482 |
OTHER COMPREHENSIVE (LOSS) INCOME , NET OF TAX: | ||||
Unrealized loss on available-for-sale securities: | (4,294) | (12,033) | (659) | (28,738) |
Defined benefit pension plans: | ||||
Amortization of prior service cost | 5 | 10 | ||
Amortization of actuarial loss | 20 | 50 | 40 | 100 |
Total | 20 | 55 | 40 | 110 |
OTHER COMPREHENSIVE (LOSS) INCOME , NET OF TAX: | (4,274) | (11,978) | (619) | (28,628) |
COMPREHENSIVE INCOME (LOSS) | $ 658 | $ (6,244) | $ 10,113 | $ (18,146) |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Stockholders’ Equity - USD ($) $ in Thousands | Common Stock [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Common Stock [Member] | Capital Surplus [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Capital Surplus [Member] | Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Treasury Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Total |
Balance at Dec. 31, 2021 | $ 2,744 | $ 78,795 | $ 108,024 | $ (5,671) | $ 183,892 | |||||||||
Net income | 10,482 | 10,482 | ||||||||||||
Other comprehensive loss | (28,628) | (28,628) | ||||||||||||
Cash dividends | (3,409) | (3,409) | ||||||||||||
Stock compensation expense | 624 | 624 | ||||||||||||
Issued restricted shares | 9 | (9) | ||||||||||||
Reissued shares under Dividend Reinvestment Plan | 2 | 141 | 143 | |||||||||||
Issued shares in Employee Stock Purchase Plan | 4 | 195 | 199 | |||||||||||
Issued shares in stock option exercises | 10 | 326 | 336 | |||||||||||
Repurchased shares in common stock | $ (1,098) | (1,098) | ||||||||||||
Reissued restricted shares in stock option exercises | (115) | 249 | 134 | |||||||||||
Balance at Jun. 30, 2022 | 2,769 | 80,072 | 114,982 | (34,299) | (849) | 162,675 | ||||||||
Balance at Mar. 31, 2022 | 2,762 | 79,396 | 109,366 | (22,321) | 169,203 | |||||||||
Net income | 5,734 | 5,734 | ||||||||||||
Other comprehensive loss | (11,978) | (11,978) | ||||||||||||
Cash dividends | (3) | (3) | ||||||||||||
Stock compensation expense | 291 | 291 | ||||||||||||
Issued shares under Dividend Reinvestment Plan | 2 | 141 | 143 | |||||||||||
Issued shares in Employee Stock Purchase Plan | 4 | 195 | ||||||||||||
Issued shares in stock option exercises | 1 | 49 | 50 | |||||||||||
Repurchased shares in common stock | (1,098) | (1,098) | ||||||||||||
Reissued restricted shares, net of forfeitures | (115) | 249 | 134 | |||||||||||
Balance at Jun. 30, 2022 | 2,769 | 80,072 | 114,982 | (34,299) | (849) | 162,675 | ||||||||
Balance (ASU 2016-13 [Member]) at Dec. 31, 2022 | $ 2,775 | $ 81,031 | $ (2,026) | $ 121,330 | $ (49,278) | $ (3,891) | $ (2,026) | $ 151,967 | ||||||
Balance at Dec. 31, 2022 | 2,775 | 81,031 | 123,356 | (49,278) | (3,891) | 153,993 | ||||||||
Net income | 10,732 | 10,732 | ||||||||||||
Other comprehensive loss | (619) | (619) | ||||||||||||
Cash dividends | (3,597) | (3,597) | ||||||||||||
Stock compensation expense | 534 | 534 | ||||||||||||
Reissued restricted shares | (235) | 235 | ||||||||||||
Issued restricted shares, net of forfeitures | (6) | 6 | ||||||||||||
Issued shares under Dividend Reinvestment Plan | 2 | 152 | 154 | |||||||||||
Issued shares in Employee Stock Purchase Plan | 6 | 187 | 193 | |||||||||||
Issued shares in stock option exercises | 6 | 114 | 120 | |||||||||||
Balance at Jun. 30, 2023 | 2,795 | 81,777 | 128,465 | (49,897) | (3,656) | 159,484 | ||||||||
Balance at Mar. 31, 2023 | 2,787 | 81,210 | 123,533 | (45,623) | (3,656) | 158,251 | ||||||||
Net income | 4,932 | 4,932 | ||||||||||||
Other comprehensive loss | (4,274) | (4,274) | ||||||||||||
Stock compensation expense | 228 | 228 | ||||||||||||
Reissued shares under Dividend Reinvestment Plan | 2 | 152 | 154 | |||||||||||
Issued shares in Employee Stock Purchase Plan | 6 | 187 | 193 | |||||||||||
Balance at Jun. 30, 2023 | $ 2,795 | $ 81,777 | $ 128,465 | $ (49,897) | $ (3,656) | $ 159,484 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Stockholders’ Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Consolidated Statements Of Changes In Stockholders’ Equity [Abstract] | ||||
Cash dividends per common share | $ 0.66 | $ 0.62 | ||
Reissued restricted shares | 6,228 | |||
Issued restricted shares | 18,244 | |||
Issued restricted shares, net of forfeitures | 11,775 | |||
Forfeitures shares of restricted stock | 1,186 | 1,186 | ||
Issued shares under Dividend Reinvestment Plan | 4,545 | 3,705 | 4,545 | |
Issued shares in Employee Stock Purchase Plan | 9,101 | 6,902 | 9,101 | 6,902 |
Issued shares in stock option exercises | 2,020 | 12,421 | 20,851 | |
Repurchased shares in common stock | 29,269 | 29,269 | ||
Reissued shares under Dividend Reinvestment Plan | 3,705 | |||
Reissued shares in stock option exercises | 6,660 | 6,660 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
OPERATING ACTIVITIES: | ||
Interest received | $ 47,051 | $ 35,332 |
Fees received | 8,830 | 9,236 |
Interest paid | (13,634) | (2,301) |
Cash paid to employees and vendors | (29,972) | (32,005) |
Income taxes paid | (6,223) | (1,801) |
Proceeds from sale of loans held for sale | 4,591 | 3,529 |
Originations of loans held for sale | (4,503) | (3,368) |
Net cash provided by operating activities | 6,140 | 8,622 |
Available For Sales Securities: | ||
Purchases | (144,413) | |
Proceeds from sales, maturities, calls, and payments | 18,412 | 16,198 |
Held to maturity securities: | ||
Purchases | (644) | (5,825) |
Proceeds from maturities, calls, and payments | 5,352 | 1,288 |
Proceeds from bank-owned life insurance claims | 378 | |
Additions to properties and equipment | (479) | (388) |
Proceeds from sales of assets | 370 | |
Proceeds from tax credit investment | 12 | 56 |
Net decrease (increase) in loans | 1,935 | (40,854) |
Net cash provided by (used in) investing activities | 24,958 | (173,560) |
FINANCING ACTIVITIES: | ||
Repayments from long-term borrowings, net | (13,278) | (9,672) |
(Repayments) proceeds from short-term borrowings, net | (27,163) | 958 |
Net increase in deposits | 14,950 | 31,322 |
Dividends paid | (3,597) | (3,409) |
Repurchase of treasury stock | (1,098) | |
Issuance of common stock | 467 | 678 |
Reissuance of treasury stock | 134 | |
Net cash (used in) provided by financing activities | (28,621) | 18,913 |
Net increase (decrease) in cash and cash equivalents | 2,477 | (146,025) |
CASH AND CASH EQUIVALENTS: | ||
Beginning of period | 23,054 | 244,785 |
End of period | 25,531 | 98,760 |
RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES: | ||
Net income | 10,732 | 10,482 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 869 | 890 |
Deferred tax expense | 279 | 329 |
Provision for credit losses | (770) | 488 |
Loss on sales of assets | 31 | |
Gain on loans sold | (86) | (62) |
Stock compensation expense | 534 | 624 |
Proceeds from sale of loans held for sale | 4,591 | 3,529 |
Originations of loans held for sale | (4,503) | (3,368) |
Changes in assets and liabilities affecting cash flow: | ||
Other assets | (5,408) | (2,267) |
Other liabilities | (129) | (2,023) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ 6,140 | $ 8,622 |
Organization And Summary Of Sig
Organization And Summary Of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Organization And Summary Of Significant Accounting Policies | 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting and reporting policies followed by Evans Bancorp, Inc. (the “Company”), a financial holding company, and its two direct, wholly-owned subsidiaries: (i) Evans Bank, National Association (the “Bank”), and the Bank’s subsidiaries, Evans National Leasing, Inc. (“ENL”), and Evans National Holding Corp. (“ENHC”); and (ii) Evans National Financial Services, LLC (“ENFS”), and ENFS’s subsidiary, The Evans Agency, LLC (“TEA”), and TEA’s subsidiary ENB Associates Inc. (“ENBA”), in the preparation of the accompanying interim unaudited consolidated financial statements conform with U.S. generally accepted accounting principles (“GAAP”) and with general practice within the industries in which it operates. Except as the context otherwise requires, the Company and its direct and indirect subsidiaries are collectively referred to in this report as the “Company.” The Financial Accounting Standards Board (“FASB”) establishes changes to GAAP in the form of accounting standards updates (“ASUs”) to the FASB Accounting Standards Codification. The Company considers the applicability and impact of all ASUs when they are issued by FASB. Effective January 1, 2023 the Company adopted ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which requires an allowance for credit losses be deducted from the amortized cost basis of financial assets to present the net carrying value at the amount that is expected to be collected over the contractual term of the asset considering relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. In estimating expected losses in the loan portfolio, borrower-specific financial data and macro-economic assumptions are utilized to project losses over a reasonable and supportable forecast period. Assumptions and judgment are applied to measure amounts and timing of expected future cash flows, collateral values and other factors used to determine the borrowers’ abilities to repay obligations. Subsequent to the forecast period, the Company utilizes longer-term historical loss experience to estimate losses over the remaining contractual life of the loans. See Note 3 – “Loans and the Allowance for Credit Losses” to this Quarterly Report on Form 10-Q for the accounting policy for determining the Allowance for Credit Losses. Prior to January 1, 2023, the allowance for credit losses represented the amount that in management’s judgment reflected incurred credit losses inherent in the loan and lease portfolio as of the balance sheet date. Based on portfolio composition, then current economic conditions, and reasonable and supportable forecasts of future conditions, the Company recognized an increase to the allowance for credit losses of $ 2.7 million upon adoption of the standard as of January 1, 2023 as compared with the allowance for credit losses recognized on its consolidated balance sheet at December 31, 2022. The $ 2.7 million increase was recognized as a net of tax cumulative effect adjustment to retained earnings of $ 2.0 million. All other ASUs adopted by the Company during the current fiscal year are not expected to have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. The results of operations for the six month period ended June 30, 2023 are not necessarily indicative of the results to be expected for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements and the Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “10-K”). |
Securities
Securities | 6 Months Ended |
Jun. 30, 2023 | |
Securities [Abstract] | |
Securities | 2. SECURITIES The amortized cost of securities and their approximate fair value at June 30, 2023 and December 31, 2022 were as follows: June 30, 2023 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 160,622 $ - $ ( 23,686 ) $ 136,936 States and political subdivisions 22,716 1 ( 1,528 ) 21,189 Total debt securities 183,338 1 ( 25,214 ) 158,125 Mortgage-backed securities: FNMA $ 74,130 $ - $ ( 12,496 ) $ 61,634 FHLMC 45,897 - ( 6,591 ) 39,306 GNMA 39,387 - ( 7,675 ) 31,712 SBA 21,623 - ( 2,600 ) 19,023 CMO 52,028 - ( 10,233 ) 41,795 Total mortgage-backed securities $ 233,065 $ - $ ( 39,595 ) $ 193,470 Total securities designated as available for sale $ 416,403 $ 1 $ ( 64,809 ) $ 351,595 Held to Maturity: Debt securities States and political subdivisions $ 2,241 $ - $ ( 92 ) $ 2,149 Total securities designated as held to maturity $ 2,241 $ - $ ( 92 ) $ 2,149 December 31, 2022 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 165,495 $ 1 $ ( 24,814 ) $ 140,682 States and political subdivisions 23,480 4 ( 1,662 ) 21,822 Total debt securities 188,975 5 ( 26,476 ) 162,504 Mortgage-backed securities: FNMA $ 75,921 $ - $ ( 12,819 ) $ 63,102 FHLMC 46,922 - ( 6,695 ) 40,227 GNMA 40,039 - ( 6,580 ) 33,459 SBA 22,556 - ( 2,419 ) 20,137 CMO 53,803 - ( 8,906 ) 44,897 Total mortgage-backed securities $ 239,241 $ - $ ( 37,419 ) $ 201,822 Total securities designated as available for sale $ 428,216 $ 5 $ ( 63,895 ) $ 364,326 Held to Maturity: Debt securities States and political subdivisions $ 6,949 $ - $ ( 140 ) $ 6,809 Total securities designated as held to maturity $ 6,949 $ - $ ( 140 ) $ 6,809 Available for sale securities with a total fair value of $ 209 million and $ 226 million were pledged as collateral to secure public deposits and for other purposes required or permitted by law at June 30, 2022 and December 31, 2022, respectively. The scheduled maturities of debt and mortgage-backed securities at June 30, 2023 are summarized below. All maturity amounts are contractual maturities. Actual maturities may differ from contractual maturities because certain issuers have the right to call or prepay obligations with or without call premiums. June 30, 2023 Amortized Estimated cost fair value (in thousands) Debt securities available for sale: Due in one year or less $ 5,703 $ 5,581 Due after one year through five years 86,952 80,186 Due after five years through ten years 61,692 51,962 Due after ten years 28,991 20,396 $ 183,338 $ 158,125 Mortgage-backed securities available for sale $ 233,065 $ 193,470 Total $ 416,403 $ 351,595 Debt securities held to maturity: Due in one year or less $ 1,532 $ 1,527 Due after one year through five years 333 305 Due after five years through ten years 376 317 Due after ten years - - Total $ 2,241 $ 2,149 Contractual maturities of the Company’s mortgage-backed securities generally exceed ten years ; however, the effective lives may be significantly shorter due to prepayments of the underlying loans and due to the nature of these securities. There were no gross realized gains or losses from sales of investment securities for the three and six month periods ended June 30, 2023 and 2022. Management has assessed the securities available for sale in an unrealized loss position at June 30, 2023 and December 31, 2022 and determined the decline in fair value below amortized cost to be temporary. In making this determination, management considered the period of time the securities were in a loss position, the percentage decline in comparison to the securities’ amortized cost, and the financial condition of the issuer (primarily government or government-sponsored enterprises). In addition, management does not intend to sell these securities and it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost. Management believes the decline in fair value is primarily related to market interest rate fluctuations and not to the credit deterioration of the individual issuers. The Company has no t recorded any other-than-temporary impairment (“OTTI”) charges during the six month period ended June 30, 2023 and did no t record any OTTI charges during 2022. The credit worthiness of the Company’s securities portfolio is largely reliant on the ability of U.S. government sponsored agencies such as Federal Home Loan Bank (“FHLB”), Federal National Mortgage Association (“FNMA”), Government National Mortgage Association (“GNMA”), and Federal Home Loan Mortgage Corporation (“FHLMC”), and municipalities throughout New York State to meet their obligations. In addition, dysfunctional markets could materially alter the liquidity, interest rate, and pricing risk of the portfolio. Past performance is not a guarantee for similar performance of the Company’s securities portfolio in future periods. Information regarding unrealized losses within the Company’s available for sale securities at June 30, 2023 and December 31, 2022 is summarized below. June 30, 2023 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. treasuries and government agencies $ 7,781 $ ( 219 ) $ 129,155 $ ( 23,467 ) $ 136,936 $ ( 23,686 ) States and political subdivisions 2,310 ( 91 ) 17,923 ( 1,437 ) 20,233 ( 1,528 ) Total debt securities 10,091 ( 310 ) 147,078 ( 24,904 ) 157,169 ( 25,214 ) Mortgage-backed securities: FNMA $ 574 $ ( 24 ) $ 61,060 $ ( 12,472 ) $ 61,634 $ ( 12,496 ) FHLMC 7,739 ( 345 ) 31,567 ( 6,246 ) 39,306 ( 6,591 ) GNMA 93 ( 3 ) 31,619 ( 7,672 ) 31,712 ( 7,675 ) SBA - - 19,023 ( 2,600 ) 19,023 ( 2,600 ) CMO 6,504 ( 266 ) 35,291 ( 9,967 ) 41,795 ( 10,233 ) Total mortgage-backed securities $ 14,910 $ ( 638 ) $ 178,560 $ ( 38,957 ) $ 193,470 $ ( 39,595 ) Held to Maturity: Debt securities: States and political subdivisions $ 1,478 $ ( 5 ) $ 671 $ ( 87 ) $ 2,149 $ ( 92 ) Total temporarily impaired securities $ 26,479 $ ( 953 ) $ 326,309 $ ( 63,948 ) $ 352,788 $ ( 64,901 ) December 31, 2022 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. treasuries and government agencies $ 68,292 $ ( 5,929 ) $ 71,389 $ ( 18,885 ) $ 139,681 $ ( 24,814 ) States and political subdivisions 19,540 ( 1,645 ) 418 ( 17 ) 19,958 ( 1,662 ) Total debt securities 87,832 ( 7,574 ) 71,807 ( 18,902 ) 159,639 ( 26,476 ) Mortgage-backed securities: FNMA $ 23,242 $ ( 3,081 ) $ 39,860 $ ( 9,738 ) $ 63,102 $ ( 12,819 ) FHLMC 11,927 ( 790 ) 28,300 ( 5,905 ) 40,227 ( 6,695 ) GNMA 10,763 ( 1,298 ) 22,696 ( 5,282 ) 33,459 ( 6,580 ) SBA 16,996 ( 1,971 ) 3,141 ( 448 ) 20,137 ( 2,419 ) CMO 11,288 ( 673 ) 33,609 ( 8,233 ) 44,897 ( 8,906 ) Total mortgage-backed securities $ 74,216 $ ( 7,813 ) $ 127,606 $ ( 29,606 ) $ 201,822 $ ( 37,419 ) Held to Maturity: Debt securities: States and political subdivisions $ 6,627 $ ( 118 ) $ 182 $ ( 22 ) $ 6,809 $ ( 140 ) Total temporarily impaired securities $ 168,675 $ ( 15,505 ) $ 199,595 $ ( 48,530 ) $ 368,270 $ ( 64,035 ) |
Loans And The Allowance For Cre
Loans And The Allowance For Credit Losses | 6 Months Ended |
Jun. 30, 2023 | |
Loans And The Allowance For Credit Losses [Abstract] | |
Loans And The Allowance For Credit Losses | 3. LOANS AND THE ALLOWANCE FOR CREDIT LOSSES Loan Portfolio Composition The following table presents selected information on the composition of the Company’s loan portfolio as of the dates indicated: June 30, 2023 December 31, 2022 Mortgage loans on real estate: (in thousands) Residential mortgages $ 438,081 $ 440,123 Commercial and multi-family 801,062 778,714 Construction-Residential 3,183 3,626 Construction-Commercial 118,963 117,403 Home equities 80,528 82,414 Total real estate loans 1,441,817 1,422,280 Commercial and industrial loans 228,302 250,069 Consumer and other loans 1,227 572 Unaccreted yield adjustments* ( 593 ) ( 552 ) Total gross loans 1,670,753 1,672,369 Allowance for credit losses ( 21,368 ) ( 19,438 ) Loans, net $ 1,649,385 $ 1,652,931 * Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated. The outstanding principal balance and the carrying amount of acquired credit-impaired loans totaled $ 0.8 million and $ 0.7 million at June 30, 2023 and December 31, 2022, respectively. There were no valuation allowances for specifically identified impairment attributable to acquired credit-impaired loans at June 30, 2023 or December 31, 2022. There were $ 594 million and $ 495 million in residential and commercial mortgage loans pledged to FHLBNY to serve as collateral for potential borrowings as of June 30, 2023 and December 31, 2022, respectively. The Company may also sell certain fixed rate residential mortgages to FNMA, FHLMC and FHLB while maintaining the servicing rights for those mortgages. At June 30, 2023 and December 31, 2022, the Company had loan servicing portfolio principal balances of $ 115 million and $ 116 million, respectively, upon which it earned servicing fees. In the three month and six month periods ended June 30, 2023, the Company sold $ 2.9 million and $ 4.6 million, respectively, of residential mortgages. In the three month and six month periods ended June 30, 2022, the Company sold $ 0.6 million and $ 3.5 million, respectively, of residential mortgages. The fair value of the mortgage servicing rights for that portfolio was $ 1.1 million at both June 30, 2023 and December 31, 2022. There were no residential mortgages held for sale at June 30, 2023 and December 31, 2022. Credit Quality Indicators The Company monitors the credit risk in its loan portfolio by reviewing certain credit quality indicators (“CQI”). The primary CQI for the commercial mortgage and commercial and industrial portfolios is the individual loan’s credit risk rating. The following list provides a description of the credit risk ratings that are used internally by the Bank when assessing the adequacy of its allowance for credit losses: Acceptable or better Watch Special Mention Substandard Doubtful Loss “Special mention” and “substandard” loans are weaker credits with a higher risk of loss and are categorized as “criticized” assets. The Company’s consumer loans, including residential mortgages and home equities, are not individually risk rated or reviewed in the Company’s loan review process. Unlike commercial customers, consumer loan customers are not required to provide the Company with updated financial information. Consumer loans also carry smaller balances. Given the lack of updated information after the initial underwriting of the loan and small size of individual loans, the Company uses delinquency status as the primary credit quality indicator for consumer loans. However, once a consumer loan is identified as impaired, it is individually evaluated for impairment. The following tables summarize amortized cost of loans by year of origination and internally assigned credit grades: (in thousands) Term Loans Amortized Cost Basis by Origination Year As of June 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Commercial and industrial loans Risk rating Pass $ 10,210 $ 40,898 $ 27,245 $ 9,464 $ 6,502 $ 7,562 $ 98,867 $ 200,748 Special Mention 317 8,859 445 4,891 877 2,104 5,336 22,829 Substandard - 3 4 22 53 941 3,705 4,728 Doubtful/Loss - - - - - - - - Total $ 10,527 $ 49,760 $ 27,694 $ 14,377 $ 7,432 $ 10,607 $ 107,908 $ 228,305 Current period gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate mortgages Risk rating Pass $ 50,416 $ 202,641 $ 173,515 $ 95,499 $ 69,887 $ 283,278 $ - $ 875,236 Special Mention - 1,256 405 1,547 10,163 9,946 - 23,317 Substandard - - 12,069 201 7,092 3,373 - 22,735 Doubtful/Loss - - - - - - - - Total $ 50,416 $ 203,897 $ 185,989 $ 97,247 $ 87,142 $ 296,597 $ - $ 921,288 Current period gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - Consumer and other Payment performance Performing $ 245 $ 246 $ 34 $ 21 $ 19 $ 33 $ 137 $ 735 Nonperforming - - - - - - - - Total $ 245 $ 246 $ 34 $ 21 $ 19 $ 33 $ 137 $ 735 Current period gross writeoffs $ 62 $ 17 $ - $ - $ - $ - $ - $ 79 Residential mortgages Payment performance Performing $ 14,912 $ 73,992 $ 103,982 $ 71,910 $ 18,405 $ 154,383 $ - $ 437,584 Nonperforming 126 146 168 233 92 2,935 - 3,700 Total $ 15,038 $ 74,138 $ 104,150 $ 72,143 $ 18,497 $ 157,318 $ - $ 441,284 Current period gross writeoffs $ - $ - $ - $ 1 $ - $ - $ - $ 1 Home equities Payment performance Performing $ 6,246 $ 3,140 $ 657 $ 639 $ 639 $ 2,321 $ 65,194 $ 78,836 Nonperforming - - - - - 3 302 305 Total $ 6,246 $ 3,140 $ 657 $ 639 $ 639 $ 2,324 $ 65,496 $ 79,141 Current period gross writeoffs $ - $ - $ - $ - $ - $ 25 $ - $ 25 The amortized cost of criticized assets of $ 74 million included $ 20 million of loans in the Company’s hotel loan portfolio at June 30, 2023. At December 31, 2022 the amortized cost of criticized assets was $ 93 million including $ 29 million of loans in the Company’s hotel loan portfolio. Past Due Loans The following tables provide an analysis of the age of the amortized cost of loans that are past due as of the dates indicated: June 30, 2023 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 226,270 $ 53 $ - $ - $ 1,982 $ 228,305 Residential real estate: Residential 432,490 - 1,911 - 3,700 438,101 Construction 3,183 - - - - 3,183 Commercial real estate: Commercial 787,565 1,327 810 6,569 6,055 802,326 Construction 105,522 4,205 - 875 8,360 118,962 Home equities 78,039 652 145 - 305 79,141 Consumer and other 729 3 2 1 - 735 Total Loans $ 1,633,798 $ 6,240 $ 2,868 $ 7,445 $ 20,402 $ 1,670,753 December 31, 2022 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 246,412 $ 235 $ 684 $ 139 $ 2,625 $ 250,095 Residential real estate: Residential 434,393 1,105 - 472 3,738 439,708 Construction 3,502 - - - - 3,502 Commercial real estate: Commercial 771,871 1,083 - 75 6,648 779,677 Construction 107,369 - - 1,648 8,765 117,782 Home equities 79,320 759 206 100 563 80,948 Consumer and other 652 3 1 1 - 657 Total Loans $ 1,643,519 $ 3,185 $ 891 $ 2,435 $ 22,339 $ 1,672,369 Allowance for Credit losses Effective January 1, 2023 the Company adopted ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which requires an allowance for credit losses be deducted from the amortized cost basis of financial assets to present the net carrying value at the amount that is expected to be collected over the contractual term of the asset. In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. The Company utilizes discounted cash flow models considering relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount to project principal balances over the remaining contractual lives of the loan portfolios and to determine estimated credit losses through a reasonable and supportable forecast period. The models have been statistically developed based on historical correlations of credit losses with prevailing economic metrics, including unemployment and gross domestic product. The Company utilizes a reasonable and supportable forecast period of one year. Subsequent to this forecast period the Company reverts, on a straight-line basis over a one-year period, to historical loss experience to inform its estimate of losses for the remaining contractual life of each portfolio. Model forecasts may be adjusted for inherent limitations of biases that have been identified through independent validation and back-testing of model performance to actual realized results. The Company also considered the impact of qualitative factors, including portfolio concentrations, changes in underwriting practices, imprecision in its economic forecasts, geopolitical conditions and other risk factors that might influence its loss estimation process. The Company also estimates losses attributable to specific troubled credits identified through both normal and targeted credit review processes and includes all loans on nonaccrual status. The amounts of individually analyzed losses are determined through a loan-by-loan analysis. Such loss estimates are typically based on expected future cash flows, collateral values and other factors that may impact the borrower’s ability to pay. To the extent that those loans are collateral-dependent, they are evaluated based on recent estimations of the fair value of the loan’s collateral. In those cases where current appraisals may not yet be available, prior appraisals are utilized with adjustments, as deemed necessary, for estimates of subsequent declines in values as determined by line of business and/or loan workout personnel. Those adjustments are reviewed and assessed for reasonableness by the Company’s credit risk personnel. Accordingly, for real estate collateral securing larger nonaccrual commercial loans and commercial real estate loans, estimated collateral values are based on current appraisals and estimates of value. For non-real estate loans, collateral is assigned a discounted estimated liquidation value and, depending on the nature of the collateral, is verified through field exams or other procedures. In assessing collateral, real estate and non-real estate values are reduced by an estimate of selling costs. Charge-offs are based on recent indications of value from external parties that are generally obtained shortly after a loan becomes nonaccrual. Loans to consumers that file for bankruptcy are generally charged-off to estimated net collateral value shortly after the Company is notified of such filings. When evaluating individual home equity loans and lines of credit for charge off and for purposes of estimating losses in determining the allowance for credit losses, the Company considers the required repayment of any first lien positions related to collateral property. Prior to 2023, the allowance for credit losses represented the amount that in management’s judgement reflected incurred credit losses inherent in the loan and lease portfolio as of the balance sheet date. A description of the methodologies used by the Company to estimate its allowance for credit losses prior to January 1, 2023 is included in note 4 of Notes to Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. The following tables present the activity in the allowance for credit losses according to portfolio segment for the three month periods ended June 30, 2023 and 2022. Three months ended June 30, 2023 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit (in thousands) losses: Beginning balance $ 5,267 $ 12,554 $ 4 $ 3,378 $ 320 $ 21,523 Charge-offs - - ( 49 ) ( 1 ) ( 25 ) ( 75 ) Recoveries 20 - 16 - - 36 Provision ( 314 ) 79 36 88 ( 5 ) ( 116 ) Ending balance $ 4,973 $ 12,633 $ 7 $ 3,465 $ 290 $ 21,368 *Includes construction loans Three months ended June 30, 2022 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit (in thousands) losses: Beginning balance $ 3,688 $ 12,279 $ 44 $ 2,117 $ 490 $ 18,618 Charge-offs ( 7 ) - ( 27 ) ( 55 ) - ( 89 ) Recoveries 19 - 4 - - 23 Provision 14 26 49 102 76 267 Ending balance $ 3,714 $ 12,305 $ 70 $ 2,164 $ 566 $ 18,819 * Includes construction loans The following tables present the activity in the allowance for credit losses according to portfolio segment for the six month periods ended June 30, 2023 and 2022. Six months ended June 30, 2023 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit losses: Beginning balance $ 4,980 $ 11,595 $ 153 $ 2,102 $ 608 $ 19,438 Adoption of new accounting standard 324 1,145 ( 147 ) 1,618 ( 205 ) 2,735 Beginning balance after cumulative effect adjustment $ 5,304 $ 12,740 $ 6 $ 3,720 $ 403 $ 22,173 Charge-offs - - ( 79 ) ( 1 ) ( 25 ) ( 105 ) Recoveries 51 - 19 - - 70 Provision ( 382 ) ( 107 ) 61 ( 254 ) ( 88 ) ( 770 ) Ending balance $ 4,973 $ 12,633 $ 7 $ 3,465 $ 290 $ 21,368 *Includes construction loans Six months ended June 30, 2022 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit losses: Beginning balance $ 3,309 $ 12,367 $ 54 $ 2,127 $ 581 $ 18,438 Charge-offs ( 31 ) - ( 67 ) ( 55 ) - ( 153 ) Recoveries 36 - 10 - - 46 Provision 400 ( 62 ) 73 92 ( 15 ) 488 Ending balance $ 3,714 $ 12,305 $ 70 $ 2,164 $ 566 $ 18,819 *Includes construction loans The following tables present the allowance for credit losses and recorded investment on loans by segment as of June 30, 2023 and December 31, 2022: June 30, 2023 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit losses: Ending balance: Individually evaluated for impairment - 179 - 7 - 186 Collectively evaluated for impairment 4,973 12,454 7 3,458 290 21,182 Total $ 4,973 $ 12,633 $ 7 $ 3,465 $ 290 $ 21,368 Loans: Ending balance: Individually evaluated for impairment 2,035 17,161 - 4,122 633 23,951 Collectively evaluated for impairment 226,267 902,864 1,227 437,142 79,895 1,647,395 Total $ 228,302 $ 920,025 $ 1,227 $ 441,264 $ 80,528 $ 1,671,346 * Includes construction loans December 31, 2022 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit losses: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - Individually evaluated for impairment - 251 - 28 77 356 Collectively evaluated for impairment 4,980 11,344 153 2,074 531 19,082 Total $ 4,980 $ 11,595 $ 153 $ 2,102 $ 608 $ 19,438 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 687 $ - $ 687 Individually evaluated for impairment 2,697 18,144 - 4,020 949 25,810 Collectively evaluated for impairment 247,372 877,973 572 439,042 81,465 1,646,424 Total $ 250,069 $ 896,117 $ 572 $ 443,749 $ 82,414 $ 1,672,921 * Includes construction loans The Company’s reserve for off-balance sheet credit exposures was not material at June 30, 2023 and upon adoption of ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments. Nonaccrual Loans The following tables provide amortized costs, at the class level, for nonaccrual loans as of the dates indicated: Six Months Ended June 30, 2023 January 1, 2023 June 30, 2023 Amortized Cost with Allowance Amortized Cost without Allowance Total Amortized Cost Interest Income Recognized (in thousands) Commercial and industrial $ - $ 1,982 $ 1,982 $ 2,625 $ 12 Residential real estate: Residential 93 3,607 3,700 3,738 12 Construction - - - - - Commercial real estate: Commercial - 6,055 6,055 6,648 72 Construction 1,268 7,092 8,360 8,765 - Home equities - 305 305 563 - Consumer and other - - - - - Total nonaccrual loans $ 1,361 $ 19,041 $ 20,402 $ 22,339 $ 96 Six Months Ended June 30, 2022 January 1, 2022 June 30, 2022 Amortized Cost with Allowance Amortized Cost without Allowance Total Amortized Cost Interest Income Recognized (in thousands) Commercial and industrial $ 448 $ 451 $ 899 $ 4,919 $ 4 Residential real estate: Residential 30 13,893 13,923 3,020 12 Construction - - - - - Commercial real estate: Commercial 199 4,430 4,629 5,758 177 Construction - 108 108 2,942 - Home equities 196 2,241 2,437 755 10 Consumer and other - - - - - Total nonaccrual loans $ 873 $ 21,123 $ 21,996 $ 17,394 $ 203 Modifications to Borrowers Experiencing Financial Difficulty The Company adopted Accounting Standards Update (“ASU”) 2022-02, Financial Instruments – Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures (“ASU 2022-02”) effective January 1, 2023. The amendments in ASU 2022-02 eliminated the recognition and measure of troubled debt restructurings and enhanced disclosures for loan modifications to borrowers experiencing financial difficulty. There were no modifications made to borrowers experiencing financial difficulty during the three months ended June 30, 2023. The table below details the amortized cost of gross loans held for investment made to borrowers experiencing financial difficulty that were modified during the six months ended June 30, 2023: (in thousands) Term Extension Total Class of Receivable Commercial and industrial $ - - % Residential real estate: Residential 104 0 Construction - - Commercial real estate: Commercial - - Construction - - Home equities - - Consumer and other - - - Total nonaccrual loans $ 104 0 % The financial impacts of residential mortgage loan modifications made to borrowers experiencing financial difficulty during the six months ended June 30, 2023 were maturity extensions ranging from 159 months to 164 months. The company has no t committed to lend any additional amounts to the borrowers included in the previous table. As of June 30, 2023, the Company did no t have any loans made to borrowers experiencing financial difficulty that were modified during the first six months of 2023 that subsequently defaulted. Payment default is defined as movement to nonperforming status, foreclosure or charge-off, whichever occurs first. The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The payment status of all loans modified to borrowers experiencing financial difficulties during the first six months of 2023 was current as of June 30, 2023. Troubled debt restructurings Information on loan modifications prior to the adoption of ASU 2022-02 on January 1, 2023 is presented in accordance with the applicable accounting standards in effect at that time. During the three months ended June 30, 2022 the Company modified one loan that was determined to be a troubled debt restructuring, a commercial and industrial loan with an outstanding balance of $ 461 thousand that included an extension of maturity. During the first six months of 2022, the Company modified two loans that were determined to be troubled debt restructurings, a home equity loan with an outstanding balance of $ 38 thousand that included extension of maturity and interest rate reduction concessions and a commercial and industrial loan with an outstanding balance of $ 461 thousand that included an extension of maturity. |
Common Equity And Earnings Per
Common Equity And Earnings Per Share Data | 6 Months Ended |
Jun. 30, 2023 | |
Common Equity And Earnings Per Share Data [Abstract] | |
Common Equity And Earnings Per Share Data | 4. COMMON EQUITY AND EARNINGS PER SHARE DATA The common stock per share information is based upon the weighted average number of shares outstanding during each period. For the three and six month periods ended June 30, 2023 the Company had an average of 6,565 and 19,835 dilutive shares outstanding, respectively. For the three and six month periods ended June 30, 2022 the Company had an average of 37,695 and 44,722 dilutive shares outstanding, respectively. Potential common shares that would have the effect of increasing diluted earnings per share are considered to be anti-dilutive and not included in calculating diluted earnings per share. There was an average of 85,312 and 86,392 potentially anti-dilutive shares outstanding for the three and six month periods ended June 30, 2023, respectively, that were not included in calculating diluted earnings per share because their effect was anti-dilutive. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2023 | |
Other Comprehensive Income (Loss) [Abstract] | |
Other Comprehensive Income (Loss) | 5. OTHER COMPREHENSIVE INCOME (LOSS) The following tables summarize the changes in the components of accumulated other comprehensive income (loss) during the three and six month periods ended June 30, 2023 and 2022: Balance at March 31, 2023 Net Change Balance at June 30, 2023 (in thousands) Net unrealized loss on investment securities $ ( 43,713 ) $ ( 4,294 ) $ ( 48,007 ) Net defined benefit pension plan adjustments ( 1,910 ) 20 ( 1,890 ) Total $ ( 45,623 ) $ ( 4,274 ) $ ( 49,897 ) Balance at March 31, 2022 Net Change Balance at June 30, 2022 (in thousands) Net unrealized loss on investment securities $ ( 19,865 ) $ ( 12,033 ) $ ( 31,898 ) Net defined benefit pension plan adjustments ( 2,456 ) 55 ( 2,401 ) Total $ ( 22,321 ) $ ( 11,978 ) $ ( 34,299 ) Balance at December 31, 2022 Net Change Balance at June 30, 2023 (in thousands) Net unrealized loss on investment securities $ ( 47,348 ) $ ( 659 ) $ ( 48,007 ) Net defined benefit pension plan adjustments ( 1,930 ) 40 ( 1,890 ) Total $ ( 49,278 ) $ ( 619 ) $ ( 49,897 ) Balance at December 31, 2021 Net Change Balance at June 30, 2022 (in thousands) Net unrealized loss on investment securities $ ( 3,160 ) $ ( 28,738 ) $ ( 31,898 ) Net defined benefit pension plan adjustments ( 2,511 ) 110 ( 2,401 ) Total $ ( 5,671 ) $ ( 28,628 ) $ ( 34,299 ) Three months ended June 30, 2023 Three months ended June 30, 2022 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized loss on investment securities $ ( 5,802 ) $ 1,508 $ ( 4,294 ) $ ( 16,243 ) $ 4,210 $ ( 12,033 ) Defined benefit pension plan adjustments: Amortization of prior service cost - - - 8 ( 3 ) 5 Amortization of actuarial loss 27 ( 7 ) 20 67 ( 17 ) 50 Net change 27 ( 7 ) 20 75 ( 20 ) 55 Other comprehensive (loss) income $ ( 5,775 ) $ 1,501 $ ( 4,274 ) $ ( 16,168 ) $ 4,190 $ ( 11,978 ) Six months ended June 30, 2023 Six months ended June 30, 2022 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized loss on investment securities $ ( 918 ) $ 259 $ ( 659 ) $ ( 38,780 ) $ 10,042 $ ( 28,738 ) Defined benefit pension plan adjustments: Amortization of prior service cost - - - 16 ( 6 ) 10 Amortization of actuarial loss 54 ( 14 ) 40 135 ( 35 ) 100 Net change 54 ( 14 ) 40 151 ( 41 ) 110 Other comprehensive (loss) income $ ( 864 ) $ 245 $ ( 619 ) $ ( 38,629 ) $ 10,001 $ ( 28,628 ) |
Net Periodic Benefit Costs
Net Periodic Benefit Costs | 6 Months Ended |
Jun. 30, 2023 | |
Net Periodic Benefit Costs [Abstract] | |
Net Periodic Benefit Costs | 6. NET PERIODIC BENEFIT COSTS On January 31, 2008, the Bank froze its defined benefit pension plan. The plan covered substantially all Bank employees. The plan provides benefits that are based on the employees’ compensation and years of service. Under the freeze, eligible employees will receive, at retirement, the benefits already earned through January 31, 2008, but have not accrued any additional benefits since then. As a result, service cost is no longer incurred. The Bank uses an actuarial method of amortizing prior service cost and unrecognized net gains or losses which result from actual expense and assumptions being different than those that are projected. The amortization method the Bank used recognized the prior service cost and net gains or losses over the average remaining service period of active employees. The Bank also maintains a nonqualified supplemental executive retirement plan covering certain members of the Company’s senior management. The Bank uses an actuarial method of amortizing unrecognized net gains or losses which result from actual expense and assumptions being different than those that are projected. The amortization method the Bank uses recognizes the net gains or losses over the average remaining service period of active employees. The following table presents the net periodic cost for the Bank’s defined benefit pension plan and supplemental executive retirement plan for the three and six month periods ended June 30, 2023 and 2022: Three months ended June 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2023 2022 2023 2022 Service cost $ - $ - $ 36 $ 33 Interest cost 63 45 63 31 Expected return on plan assets ( 67 ) ( 88 ) - - Amortization of prior service cost - - - 8 Amortization of the net loss 27 23 - 44 Net periodic (benefit) cost $ 23 $ ( 20 ) $ 99 $ 116 Six months ended June 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2023 2022 2023 2022 Service cost $ - $ - $ 72 $ 66 Interest cost 125 89 125 62 Expected return on plan assets ( 134 ) ( 176 ) - - Amortization of prior service cost - - - 16 Amortization of the net loss 54 47 - 88 Net periodic (benefit) cost $ 45 $ ( 40 ) $ 197 $ 232 The components of net periodic benefit cost other than the service cost component are included in the line item “other expense” in the income statement. |
Revenue Recognition Of Non-Inte
Revenue Recognition Of Non-Interest Income | 6 Months Ended |
Jun. 30, 2023 | |
Revenue Recognition Of Non-Interest Income [Abstract] | |
Revenue Recognition Of Non-Interest Income | 7. REVENUE RECOGNITION OF NON-INTEREST INCOME A description of the Company’s material revenue streams in non-interest income accounted for under ASC 606 follows: Insurance Service and Fees: Insurance services revenue relates to various revenue streams from services provided by TEA and the Bank: TEA earns commission revenue from selling commercial and personal property and casualty (“P&C”) insurance as well as employee benefits solutions to commercial customers. TEA has agreements with various insurance companies to sell policies to customers on behalf of the carriers. The performance obligation for TEA is to sell annual P&C policies to commercial customers and consumers. This performance obligation is met when a new policy is sold or when an existing policy renews. The policies are generally one year terms. In the agreements with the respective insurance companies, a commission rate is agreed upon. The commission is recognized at the time of the sale of the policy or when a policy renews. TEA has signed contracts with insurance carriers that enable TEA to sell benefit plans to commercial customers on behalf of the insurance carriers. The performance obligation for TEA is to sell the plans to commercial customers. After the initial sale when the customer signs an agreement to purchase the offered benefit plan, the performance obligation is met each month when a customer continues utilizing benefit plans from the carrier. The customer does not commit to a specific length of time with the carrier. In the agreements with the respective insurance companies, a commission rate is agreed upon. Revenue is recognized each month when the customer continues with the benefit plan sold by TEA. TEA also earns contingent profit sharing revenue. The insurance companies measure the loss ratio for TEA’s customers and pay TEA according to how profitable TEA customers are. TEA has signed written agreements with insurance carriers that document payouts to TEA based on the loss ratios of its customers. The performance obligation for TEA is to maintain a customer base with loss ratios below the agreed upon thresholds. In the contracts with the insurance companies, payout rates based on loss ratios are documented. The consideration is variable as loss ratios vary based on customer experience. TEA’s performance obligation is over the course of the year as its customers’ performance with insurance carriers is measured throughout the year as losses occur. Due to the variable nature of contingent profit sharing revenue, TEA will accrue contingent profit sharing revenue throughout the year based on recent historical results. As loss events occur and overall performance becomes known to TEA, accrual adjustments will be made until the cash is ultimately received. Financial services commission revenue from the Bank related to wealth management such as life insurance, annuities, and mutual funds sales is also included in the “insurance service and fees” line of the income statement. The Company earns wealth management fees from its contracts with customers for certain financial services. Fees that are transaction-based are recognized at the point in time that the transaction is executed. Other related services provided include financial planning services and the fees the Bank earns are recognized when the services are rendered. A disaggregation of the total insurance service and other fees for the three and six months ended June 30, 2023 and 2022 is provided in the tables below: Three months ended June 30, 2023 2022 (in thousands) Commercial property and casualty insurance commissions $ 1,164 $ 1,031 Personal property and casualty insurance commissions 999 930 Employee benefits sales commissions 167 209 Profit sharing and contingent revenue 198 191 Wealth management and other financial services 162 179 Other insurance-related revenue 30 27 Total insurance service and other fees $ 2,720 $ 2,567 Six months ended June 30, 2023 2022 (in thousands) Commercial property and casualty insurance commissions $ 2,053 $ 1,819 Personal property and casualty insurance commissions 1,738 1,653 Employee benefits sales commissions 361 443 Profit sharing and contingent revenue 626 561 Wealth management and other financial services 288 320 Other insurance-related revenue 83 70 Total insurance service and other fees $ 5,149 $ 4,866 |
Fair Value Measurement
Fair Value Measurement | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Measurement [Abstract] | |
Fair Value Measurement | 8. FAIR VALUE MEASUREMENT Fair value is defined in ASC Topic 820 “Fair Value Measurement” as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three levels of inputs to fair value measurement: Level 1 inputs are quoted prices for identical instruments in active markets; Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 inputs are unobservable inputs. Observable market data should be used when available. FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A RECURRING BASIS The following table presents, for each of the fair-value hierarchy levels as defined in this footnote, those financial instruments which are measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022, respectively: (in thousands) Level 1 Level 2 Level 3 Fair Value June 30, 2023 Securities available-for-sale: US treasuries and government agencies $ - $ 136,936 $ - $ 136,936 States and political subdivisions - 21,189 - 21,189 Mortgage-backed securities - 193,470 - 193,470 December 31, 2022 Securities available-for-sale: US treasuries and government agencies $ - $ 140,682 $ - $ 140,682 States and political subdivisions - 21,822 - 21,822 Mortgage-backed securities - 201,822 - 201,822 Securities available for sale Fair values for available for sale securities are determined using independent pricing services and market-participating brokers. The Company utilizes a third-party for these pricing services. The third-party utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information for structured securities, cash flow and, when available, loan performance data. Because many fixed income securities do not trade on a daily basis, the third-party service provider’s evaluated pricing applications apply information as applicable through processes, such as benchmarking of like securities, sector groupings, and matrix pricing, to prepare evaluations. In addition, our third-party pricing service provider uses model processes, such as the Option Adjusted Spread model, to assess interest rate impact and develop prepayment scenarios. The models and the process take into account market convention. For each asset class, a team of evaluators gathers information from market sources and integrates relevant credit information, perceived market movements and sector news into the evaluated pricing applications and models. The third-party, at times, may determine that it does not have sufficient verifiable information to value a particular security. In these cases the Company will utilize valuations from another pricing service. On a quarterly basis the Company reviews changes, as submitted by our third-party pricing service provider, in the market value of its securities portfolio. Individual changes in valuations are reviewed for consistency with general interest rate movements and any known credit concerns for specific securities. Additionally, on a quarterly basis the Company has its entire securities portfolio priced by a second pricing service to determine consistency with another market evaluator. If, on the Company’s review or in comparing with another servicer, a material difference between pricing evaluations were to exist, the Company may submit an inquiry to our third-party pricing service provider regarding the data used to value a particular security. If the Company determines it has market information that would support a different valuation than our third-party service provider’s evaluation it can submit a challenge for a change to that security’s valuation. Securities available for sale are classified as Level 2 in the fair value hierarchy as the valuation provided by the third-party provider uses observable market data. ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A NONRECURRING BASIS The Company is required, on a nonrecurring basis, to adjust the carrying value of certain assets or provide valuation allowances related to certain assets using fair value measurements. The following table presents for each of the fair-value hierarchy levels as defined in this footnote, those financial instruments which are measured at fair value on a nonrecurring basis June 30, 2023 and December 31, 2022: (in thousands) Level 1 Level 2 Level 3 Fair Value June 30, 2023 Collateral dependent impaired loans $ - $ - $ 1,168 $ 1,168 December 31, 2022 Collateral dependent impaired loans $ - $ - $ 1,170 $ 1,170 Impaired loans Collateral dependent loans carried at fair value have been partially charged-off or receive individually analyzed allocations of the allowance for credit losses. The Company evaluates and values collateral dependent impaired loans at the time the loan is identified as impaired, and the fair values of such loans are estimated using Level 3 inputs in the fair value hierarchy. Each loan’s collateral value has a unique appraisal and management’s discount of the value is based on factors unique to each impaired loan. The significant unobservable input in determining the fair value is management’s subjective discount on appraisals of the collateral securing the loan, which ranges from 10 %- 50 %. Fair value is estimated based on the value of the collateral securing these loans. Collateral may consist of real estate and/or business assets including equipment, inventory and/or accounts receivable and the value of these assets is determined based on appraisals by qualified licensed appraisers hired by the Company. Appraised and reported values may be discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, estimated costs to sell, and/or management’s expertise and knowledge of the client and the client’s business. The Company has an appraisal policy in which appraisals are obtained upon a commercial loan being downgraded on the Company’s internal loan rating scale to a special mention or a substandard depending on the amount of the loan, the type of loan and the type of collateral. All impaired commercial loans are graded substandard or worse on the internal loan rating scale. For consumer loans, the Company obtains appraisals when a loan becomes 90 days past due or is determined to be impaired, whichever occurs first. Subsequent to the downgrade or reaching 90 days past due, if the loan remains outstanding and impaired for at least one year more, management may require another follow-up appraisal. Between receipts of updated appraisals, if necessary, management may perform an internal valuation based on any known changing conditions in the marketplace such as sales of similar properties, a change in the condition of the collateral, or feedback from local appraisers. Collateral dependent impaired loans had a gross value of $ 1.4 million, with an allowance for credit loss of $ 0.2 million, at June 30, 2023 compared with $ 1.5 million and $ 0.4 million, respectively, at December 31, 2022. The table below depicts the estimated fair values of the Company’s financial instruments, including those that are not measured and reported at fair value on a recurring basis or nonrecurring basis. June 30, 2023 December 31, 2022 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 25,531 $ 25,531 $ 23,054 $ 23,054 Level 2: Available for sale securities 351,595 351,595 364,326 364,326 FHLB and FRB stock 7,026 N/A 13,511 N/A Level 3: Held to maturity securities 2,241 2,149 6,949 6,809 Loans, net 1,649,385 1,571,996 1,652,931 1,564,641 Financial liabilities: Level 1: Demand deposits $ 442,195 $ 442,195 $ 493,710 $ 493,710 NOW deposits 303,159 303,159 273,359 273,359 Savings deposits 726,687 726,687 801,943 801,943 Level 2: Securities sold under agreement to repurchase 19,185 19,185 7,147 7,147 Other borrowed funds 140,386 139,678 193,001 192,443 Subordinated debt 31,126 30,060 31,075 30,263 Level 3: Time deposits 314,574 310,117 202,667 199,910 |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2023 | |
Segment Information [Abstract] | |
Segment Information | 9. SEGMENT INFORMATION The Company comprises two primary business segments, banking and insurance agency activities. The following tables set forth information regarding these segments for the three and six month periods ended June 30, 2023 and 2022. Three months ended June 30, 2023 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 15,681 $ - $ 15,681 Provision for credit losses ( 116 ) - ( 116 ) Net interest income after provision for credit losses 15,797 - 15,797 Insurance service and fees 153 2,567 2,720 Other non-interest income 1,981 - 1,981 Amortization expense 5 95 100 Other non-interest expense 12,225 1,847 14,072 Income before income taxes 5,701 625 6,326 Income tax provision 1,241 153 1,394 Net income $ 4,460 $ 472 $ 4,932 Three months ended June 30, 2022 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 18,052 $ - $ 18,052 Provision for credit losses 267 - 267 Net interest income after provision for credit losses 17,785 - 17,785 Insurance service and fees 169 2,398 2,567 Other non-interest income 2,045 - 2,045 Amortization expense 5 95 100 Other non-interest expense 12,885 1,799 14,684 Income before income taxes 7,109 504 7,613 Income tax provision 1,748 131 1,879 Net income $ 5,361 $ 373 $ 5,734 Six months ended June 30, 2023 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 33,006 $ - $ 33,006 Provision for credit losses ( 770 ) - ( 770 ) Net interest income after provision for credit losses 33,776 - 33,776 Insurance service and fees 276 4,873 5,149 Other non-interest income 3,665 - 3,665 Amortization expense 10 190 200 Other non-interest expense 24,782 3,692 28,474 Income before income taxes 12,925 991 13,916 Income tax provision 2,948 236 3,184 Net income $ 9,977 $ 755 $ 10,732 Six months ended June 30, 2022 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 34,553 $ - $ 34,553 Provision for credit losses 488 - 488 Net interest income after provision for credit losses 34,065 - 34,065 Insurance service and fees 308 4,558 4,866 Other non-interest income 4,177 - 4,177 Amortization expense 10 190 200 Other non-interest expense 25,387 3,657 29,044 Income before income taxes 13,153 711 13,864 Income tax provision 3,197 185 3,382 Net income $ 9,956 $ 526 $ 10,482 |
Contingent Liabilities And Comm
Contingent Liabilities And Commitments | 6 Months Ended |
Jun. 30, 2023 | |
Contingent Liabilities And Commitments [Abstract] | |
Contingent Liabilities And Commitments | 10. CONTINGENT LIABILITIES AND COMMITMENTS The unaudited consolidated financial statements do not reflect various commitments and contingent liabilities, which arise in the normal course of business, and which involve elements of credit risk, interest rate risk and liquidity risk. These commitments and contingent liabilities consist of commitments to extend credit and standby letters of credit. A summary of the Bank’s commitments and contingent liabilities is as follows: June 30, December 31, 2023 2022 (in thousands) Commitments to extend credit $ 439,445 $ 376,167 Standby letters of credit 2,848 3,673 Total $ 442,293 $ 379,840 Commitments to extend credit and standby letters of credit include some exposure to credit loss in the event of nonperformance by the customer. The Bank’s credit policies and procedures for credit commitments and financial guarantees are the same as those for extensions of credit that are recorded on the Company’s unaudited consolidated balance sheets. Because these instruments have fixed maturity dates, and because they may expire without being drawn upon, they do not necessarily represent cash requirements of the Bank. The Bank did no t incur any losses on its commitments and did no t record a reserve for its commitments during the first six months of 2023 or during 2022. Certain lending commitments for construction residential mortgage loans are considered derivative instruments under the guidelines of GAAP. The changes in the fair value of these commitments, due to interest rate risk, are not recorded on the consolidated balance sheets as the fair value of these derivatives is not considered to be material. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2023 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | 11. RECENT ACCOUNTING PRONOUNCEMENTS The FASB establishes changes to U.S. GAAP in the form of accounting standards updates (“ASUs”) to the FASB Accounting Standards Codification. The Company considers the applicability and impact of all ASUs when they are issued by FASB. Effective January 1, 2023 the Company adopted both ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses of Financial Instruments and ASU 2022-02, Financial Instruments – Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures. Excluding those ASUs, the Company did not adopt any accounting pronouncements during its current fiscal year that had a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. There have been no accounting standards that have been recently issued but not yet required to be adopted as of June 30, 2023 that management expects will have a material impact on the Company’s financial condition, results of operations, cash flows or disclosures. ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments – The Company adopted this ASU (commonly known as the Current Expected Credit Loss Impairment Model, or CECL) effective January 1, 2023. The main objective of this ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in CECL replace the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. See Note 3 – “Loans and the Allowance for Credit Losses” to this Quarterly Report on Form 10-Q for further details regarding the Company’s accounting policy for determining the Allowance for Credit Losses under this new accounting standard. Upon adoption of ASU 2016-13, Measurement of Credit Losses on Financial Instruments, the Company recognized a $ 2.7 million increase in the allowance for credit losses as of January 1, 2023 with a net of tax cumulative effect adjustment to retained earnings of $ 2.0 million. ASU 2022-02, Financial Instruments – Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures – The Company adopted this ASU effective January 1, 2023. This ASU eliminates the accounting guidance for troubled debt restructurings ("TDRs") in ASC 310-40, "Receivables - Troubled Debt Restructurings by Creditors" for entities that have adopted the CECL model introduced by ASU 2016-13. ASU 2022-02 also requires that public business entities disclose current-period gross charge-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, "Financial Instruments—Credit Losses—Measured at Amortized Cost". The adoption of ASU 2022-02 did not have a material impact on the Company’s financial condition, results of operations or cash flows, but did affect the financial statement disclosures. |
Organization And Summary Of S_2
Organization And Summary Of Significant Accounting Policies (Policy) | 6 Months Ended |
Jun. 30, 2023 | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Organization And General | The accounting and reporting policies followed by Evans Bancorp, Inc. (the “Company”), a financial holding company, and its two direct, wholly-owned subsidiaries: (i) Evans Bank, National Association (the “Bank”), and the Bank’s subsidiaries, Evans National Leasing, Inc. (“ENL”), and Evans National Holding Corp. (“ENHC”); and (ii) Evans National Financial Services, LLC (“ENFS”), and ENFS’s subsidiary, The Evans Agency, LLC (“TEA”), and TEA’s subsidiary ENB Associates Inc. (“ENBA”), in the preparation of the accompanying interim unaudited consolidated financial statements conform with U.S. generally accepted accounting principles (“GAAP”) and with general practice within the industries in which it operates. Except as the context otherwise requires, the Company and its direct and indirect subsidiaries are collectively referred to in this report as the “Company.” |
Basis of Accounting | The Financial Accounting Standards Board (“FASB”) establishes changes to GAAP in the form of accounting standards updates (“ASUs”) to the FASB Accounting Standards Codification. The Company considers the applicability and impact of all ASUs when they are issued by FASB. |
Recent Accounting Pronouncements And Developments | Effective January 1, 2023 the Company adopted ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which requires an allowance for credit losses be deducted from the amortized cost basis of financial assets to present the net carrying value at the amount that is expected to be collected over the contractual term of the asset considering relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. In estimating expected losses in the loan portfolio, borrower-specific financial data and macro-economic assumptions are utilized to project losses over a reasonable and supportable forecast period. Assumptions and judgment are applied to measure amounts and timing of expected future cash flows, collateral values and other factors used to determine the borrowers’ abilities to repay obligations. Subsequent to the forecast period, the Company utilizes longer-term historical loss experience to estimate losses over the remaining contractual life of the loans. See Note 3 – “Loans and the Allowance for Credit Losses” to this Quarterly Report on Form 10-Q for the accounting policy for determining the Allowance for Credit Losses. Prior to January 1, 2023, the allowance for credit losses represented the amount that in management’s judgment reflected incurred credit losses inherent in the loan and lease portfolio as of the balance sheet date. Based on portfolio composition, then current economic conditions, and reasonable and supportable forecasts of future conditions, the Company recognized an increase to the allowance for credit losses of $ 2.7 million upon adoption of the standard as of January 1, 2023 as compared with the allowance for credit losses recognized on its consolidated balance sheet at December 31, 2022. The $ 2.7 million increase was recognized as a net of tax cumulative effect adjustment to retained earnings of $ 2.0 million. All other ASUs adopted by the Company during the current fiscal year are not expected to have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. |
Revenue Recognition Of Non-In_2
Revenue Recognition Of Non-Interest Income (Policy) | 6 Months Ended |
Jun. 30, 2023 | |
Revenue Recognition Of Non-Interest Income [Abstract] | |
Revenue Recognition | A description of the Company’s material revenue streams in non-interest income accounted for under ASC 606 follows: Insurance Service and Fees: Insurance services revenue relates to various revenue streams from services provided by TEA and the Bank: TEA earns commission revenue from selling commercial and personal property and casualty (“P&C”) insurance as well as employee benefits solutions to commercial customers. TEA has agreements with various insurance companies to sell policies to customers on behalf of the carriers. The performance obligation for TEA is to sell annual P&C policies to commercial customers and consumers. This performance obligation is met when a new policy is sold or when an existing policy renews. The policies are generally one year terms. In the agreements with the respective insurance companies, a commission rate is agreed upon. The commission is recognized at the time of the sale of the policy or when a policy renews. TEA has signed contracts with insurance carriers that enable TEA to sell benefit plans to commercial customers on behalf of the insurance carriers. The performance obligation for TEA is to sell the plans to commercial customers. After the initial sale when the customer signs an agreement to purchase the offered benefit plan, the performance obligation is met each month when a customer continues utilizing benefit plans from the carrier. The customer does not commit to a specific length of time with the carrier. In the agreements with the respective insurance companies, a commission rate is agreed upon. Revenue is recognized each month when the customer continues with the benefit plan sold by TEA. TEA also earns contingent profit sharing revenue. The insurance companies measure the loss ratio for TEA’s customers and pay TEA according to how profitable TEA customers are. TEA has signed written agreements with insurance carriers that document payouts to TEA based on the loss ratios of its customers. The performance obligation for TEA is to maintain a customer base with loss ratios below the agreed upon thresholds. In the contracts with the insurance companies, payout rates based on loss ratios are documented. The consideration is variable as loss ratios vary based on customer experience. TEA’s performance obligation is over the course of the year as its customers’ performance with insurance carriers is measured throughout the year as losses occur. Due to the variable nature of contingent profit sharing revenue, TEA will accrue contingent profit sharing revenue throughout the year based on recent historical results. As loss events occur and overall performance becomes known to TEA, accrual adjustments will be made until the cash is ultimately received. Financial services commission revenue from the Bank related to wealth management such as life insurance, annuities, and mutual funds sales is also included in the “insurance service and fees” line of the income statement. The Company earns wealth management fees from its contracts with customers for certain financial services. Fees that are transaction-based are recognized at the point in time that the transaction is executed. Other related services provided include financial planning services and the fees the Bank earns are recognized when the services are rendered. |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Securities [Abstract] | |
Schedule Of Amortized Cost And Approximate Fair Value Of Securities | June 30, 2023 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 160,622 $ - $ ( 23,686 ) $ 136,936 States and political subdivisions 22,716 1 ( 1,528 ) 21,189 Total debt securities 183,338 1 ( 25,214 ) 158,125 Mortgage-backed securities: FNMA $ 74,130 $ - $ ( 12,496 ) $ 61,634 FHLMC 45,897 - ( 6,591 ) 39,306 GNMA 39,387 - ( 7,675 ) 31,712 SBA 21,623 - ( 2,600 ) 19,023 CMO 52,028 - ( 10,233 ) 41,795 Total mortgage-backed securities $ 233,065 $ - $ ( 39,595 ) $ 193,470 Total securities designated as available for sale $ 416,403 $ 1 $ ( 64,809 ) $ 351,595 Held to Maturity: Debt securities States and political subdivisions $ 2,241 $ - $ ( 92 ) $ 2,149 Total securities designated as held to maturity $ 2,241 $ - $ ( 92 ) $ 2,149 December 31, 2022 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 165,495 $ 1 $ ( 24,814 ) $ 140,682 States and political subdivisions 23,480 4 ( 1,662 ) 21,822 Total debt securities 188,975 5 ( 26,476 ) 162,504 Mortgage-backed securities: FNMA $ 75,921 $ - $ ( 12,819 ) $ 63,102 FHLMC 46,922 - ( 6,695 ) 40,227 GNMA 40,039 - ( 6,580 ) 33,459 SBA 22,556 - ( 2,419 ) 20,137 CMO 53,803 - ( 8,906 ) 44,897 Total mortgage-backed securities $ 239,241 $ - $ ( 37,419 ) $ 201,822 Total securities designated as available for sale $ 428,216 $ 5 $ ( 63,895 ) $ 364,326 Held to Maturity: Debt securities States and political subdivisions $ 6,949 $ - $ ( 140 ) $ 6,809 Total securities designated as held to maturity $ 6,949 $ - $ ( 140 ) $ 6,809 |
Scheduled Maturities Of Debt And Mortgage-Backed Securities | June 30, 2023 Amortized Estimated cost fair value (in thousands) Debt securities available for sale: Due in one year or less $ 5,703 $ 5,581 Due after one year through five years 86,952 80,186 Due after five years through ten years 61,692 51,962 Due after ten years 28,991 20,396 $ 183,338 $ 158,125 Mortgage-backed securities available for sale $ 233,065 $ 193,470 Total $ 416,403 $ 351,595 Debt securities held to maturity: Due in one year or less $ 1,532 $ 1,527 Due after one year through five years 333 305 Due after five years through ten years 376 317 Due after ten years - - Total $ 2,241 $ 2,149 |
Unrealized Losses On Securities | June 30, 2023 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. treasuries and government agencies $ 7,781 $ ( 219 ) $ 129,155 $ ( 23,467 ) $ 136,936 $ ( 23,686 ) States and political subdivisions 2,310 ( 91 ) 17,923 ( 1,437 ) 20,233 ( 1,528 ) Total debt securities 10,091 ( 310 ) 147,078 ( 24,904 ) 157,169 ( 25,214 ) Mortgage-backed securities: FNMA $ 574 $ ( 24 ) $ 61,060 $ ( 12,472 ) $ 61,634 $ ( 12,496 ) FHLMC 7,739 ( 345 ) 31,567 ( 6,246 ) 39,306 ( 6,591 ) GNMA 93 ( 3 ) 31,619 ( 7,672 ) 31,712 ( 7,675 ) SBA - - 19,023 ( 2,600 ) 19,023 ( 2,600 ) CMO 6,504 ( 266 ) 35,291 ( 9,967 ) 41,795 ( 10,233 ) Total mortgage-backed securities $ 14,910 $ ( 638 ) $ 178,560 $ ( 38,957 ) $ 193,470 $ ( 39,595 ) Held to Maturity: Debt securities: States and political subdivisions $ 1,478 $ ( 5 ) $ 671 $ ( 87 ) $ 2,149 $ ( 92 ) Total temporarily impaired securities $ 26,479 $ ( 953 ) $ 326,309 $ ( 63,948 ) $ 352,788 $ ( 64,901 ) December 31, 2022 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. treasuries and government agencies $ 68,292 $ ( 5,929 ) $ 71,389 $ ( 18,885 ) $ 139,681 $ ( 24,814 ) States and political subdivisions 19,540 ( 1,645 ) 418 ( 17 ) 19,958 ( 1,662 ) Total debt securities 87,832 ( 7,574 ) 71,807 ( 18,902 ) 159,639 ( 26,476 ) Mortgage-backed securities: FNMA $ 23,242 $ ( 3,081 ) $ 39,860 $ ( 9,738 ) $ 63,102 $ ( 12,819 ) FHLMC 11,927 ( 790 ) 28,300 ( 5,905 ) 40,227 ( 6,695 ) GNMA 10,763 ( 1,298 ) 22,696 ( 5,282 ) 33,459 ( 6,580 ) SBA 16,996 ( 1,971 ) 3,141 ( 448 ) 20,137 ( 2,419 ) CMO 11,288 ( 673 ) 33,609 ( 8,233 ) 44,897 ( 8,906 ) Total mortgage-backed securities $ 74,216 $ ( 7,813 ) $ 127,606 $ ( 29,606 ) $ 201,822 $ ( 37,419 ) Held to Maturity: Debt securities: States and political subdivisions $ 6,627 $ ( 118 ) $ 182 $ ( 22 ) $ 6,809 $ ( 140 ) Total temporarily impaired securities $ 168,675 $ ( 15,505 ) $ 199,595 $ ( 48,530 ) $ 368,270 $ ( 64,035 ) |
Loans And The Allowance For C_2
Loans And The Allowance For Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Loans And The Allowance For Credit Losses [Abstract] | |
Schedule Of Loan Portfolio Composition | June 30, 2023 December 31, 2022 Mortgage loans on real estate: (in thousands) Residential mortgages $ 438,081 $ 440,123 Commercial and multi-family 801,062 778,714 Construction-Residential 3,183 3,626 Construction-Commercial 118,963 117,403 Home equities 80,528 82,414 Total real estate loans 1,441,817 1,422,280 Commercial and industrial loans 228,302 250,069 Consumer and other loans 1,227 572 Unaccreted yield adjustments* ( 593 ) ( 552 ) Total gross loans 1,670,753 1,672,369 Allowance for credit losses ( 21,368 ) ( 19,438 ) Loans, net $ 1,649,385 $ 1,652,931 * Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated. |
Data, At Class Level, Of Credit Quality Indicators Of Certain Loans | (in thousands) Term Loans Amortized Cost Basis by Origination Year As of June 30, 2023 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Commercial and industrial loans Risk rating Pass $ 10,210 $ 40,898 $ 27,245 $ 9,464 $ 6,502 $ 7,562 $ 98,867 $ 200,748 Special Mention 317 8,859 445 4,891 877 2,104 5,336 22,829 Substandard - 3 4 22 53 941 3,705 4,728 Doubtful/Loss - - - - - - - - Total $ 10,527 $ 49,760 $ 27,694 $ 14,377 $ 7,432 $ 10,607 $ 107,908 $ 228,305 Current period gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - Commercial real estate mortgages Risk rating Pass $ 50,416 $ 202,641 $ 173,515 $ 95,499 $ 69,887 $ 283,278 $ - $ 875,236 Special Mention - 1,256 405 1,547 10,163 9,946 - 23,317 Substandard - - 12,069 201 7,092 3,373 - 22,735 Doubtful/Loss - - - - - - - - Total $ 50,416 $ 203,897 $ 185,989 $ 97,247 $ 87,142 $ 296,597 $ - $ 921,288 Current period gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - Consumer and other Payment performance Performing $ 245 $ 246 $ 34 $ 21 $ 19 $ 33 $ 137 $ 735 Nonperforming - - - - - - - - Total $ 245 $ 246 $ 34 $ 21 $ 19 $ 33 $ 137 $ 735 Current period gross writeoffs $ 62 $ 17 $ - $ - $ - $ - $ - $ 79 Residential mortgages Payment performance Performing $ 14,912 $ 73,992 $ 103,982 $ 71,910 $ 18,405 $ 154,383 $ - $ 437,584 Nonperforming 126 146 168 233 92 2,935 - 3,700 Total $ 15,038 $ 74,138 $ 104,150 $ 72,143 $ 18,497 $ 157,318 $ - $ 441,284 Current period gross writeoffs $ - $ - $ - $ 1 $ - $ - $ - $ 1 Home equities Payment performance Performing $ 6,246 $ 3,140 $ 657 $ 639 $ 639 $ 2,321 $ 65,194 $ 78,836 Nonperforming - - - - - 3 302 305 Total $ 6,246 $ 3,140 $ 657 $ 639 $ 639 $ 2,324 $ 65,496 $ 79,141 Current period gross writeoffs $ - $ - $ - $ - $ - $ 25 $ - $ 25 |
Recorded Investment In Loans Past Due | June 30, 2023 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 226,270 $ 53 $ - $ - $ 1,982 $ 228,305 Residential real estate: Residential 432,490 - 1,911 - 3,700 438,101 Construction 3,183 - - - - 3,183 Commercial real estate: Commercial 787,565 1,327 810 6,569 6,055 802,326 Construction 105,522 4,205 - 875 8,360 118,962 Home equities 78,039 652 145 - 305 79,141 Consumer and other 729 3 2 1 - 735 Total Loans $ 1,633,798 $ 6,240 $ 2,868 $ 7,445 $ 20,402 $ 1,670,753 December 31, 2022 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 246,412 $ 235 $ 684 $ 139 $ 2,625 $ 250,095 Residential real estate: Residential 434,393 1,105 - 472 3,738 439,708 Construction 3,502 - - - - 3,502 Commercial real estate: Commercial 771,871 1,083 - 75 6,648 779,677 Construction 107,369 - - 1,648 8,765 117,782 Home equities 79,320 759 206 100 563 80,948 Consumer and other 652 3 1 1 - 657 Total Loans $ 1,643,519 $ 3,185 $ 891 $ 2,435 $ 22,339 $ 1,672,369 |
Schedule Of Allowance For Loan Losses According To Portfolio Segment | Three months ended June 30, 2023 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit (in thousands) losses: Beginning balance $ 5,267 $ 12,554 $ 4 $ 3,378 $ 320 $ 21,523 Charge-offs - - ( 49 ) ( 1 ) ( 25 ) ( 75 ) Recoveries 20 - 16 - - 36 Provision ( 314 ) 79 36 88 ( 5 ) ( 116 ) Ending balance $ 4,973 $ 12,633 $ 7 $ 3,465 $ 290 $ 21,368 *Includes construction loans Three months ended June 30, 2022 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit (in thousands) losses: Beginning balance $ 3,688 $ 12,279 $ 44 $ 2,117 $ 490 $ 18,618 Charge-offs ( 7 ) - ( 27 ) ( 55 ) - ( 89 ) Recoveries 19 - 4 - - 23 Provision 14 26 49 102 76 267 Ending balance $ 3,714 $ 12,305 $ 70 $ 2,164 $ 566 $ 18,819 * Includes construction loans The following tables present the activity in the allowance for credit losses according to portfolio segment for the six month periods ended June 30, 2023 and 2022. Six months ended June 30, 2023 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit losses: Beginning balance $ 4,980 $ 11,595 $ 153 $ 2,102 $ 608 $ 19,438 Adoption of new accounting standard 324 1,145 ( 147 ) 1,618 ( 205 ) 2,735 Beginning balance after cumulative effect adjustment $ 5,304 $ 12,740 $ 6 $ 3,720 $ 403 $ 22,173 Charge-offs - - ( 79 ) ( 1 ) ( 25 ) ( 105 ) Recoveries 51 - 19 - - 70 Provision ( 382 ) ( 107 ) 61 ( 254 ) ( 88 ) ( 770 ) Ending balance $ 4,973 $ 12,633 $ 7 $ 3,465 $ 290 $ 21,368 *Includes construction loans Six months ended June 30, 2022 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit losses: Beginning balance $ 3,309 $ 12,367 $ 54 $ 2,127 $ 581 $ 18,438 Charge-offs ( 31 ) - ( 67 ) ( 55 ) - ( 153 ) Recoveries 36 - 10 - - 46 Provision 400 ( 62 ) 73 92 ( 15 ) 488 Ending balance $ 3,714 $ 12,305 $ 70 $ 2,164 $ 566 $ 18,819 *Includes construction loans The following tables present the allowance for credit losses and recorded investment on loans by segment as of June 30, 2023 and December 31, 2022: June 30, 2023 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit losses: Ending balance: Individually evaluated for impairment - 179 - 7 - 186 Collectively evaluated for impairment 4,973 12,454 7 3,458 290 21,182 Total $ 4,973 $ 12,633 $ 7 $ 3,465 $ 290 $ 21,368 Loans: Ending balance: Individually evaluated for impairment 2,035 17,161 - 4,122 633 23,951 Collectively evaluated for impairment 226,267 902,864 1,227 437,142 79,895 1,647,395 Total $ 228,302 $ 920,025 $ 1,227 $ 441,264 $ 80,528 $ 1,671,346 * Includes construction loans December 31, 2022 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for credit losses: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - Individually evaluated for impairment - 251 - 28 77 356 Collectively evaluated for impairment 4,980 11,344 153 2,074 531 19,082 Total $ 4,980 $ 11,595 $ 153 $ 2,102 $ 608 $ 19,438 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 687 $ - $ 687 Individually evaluated for impairment 2,697 18,144 - 4,020 949 25,810 Collectively evaluated for impairment 247,372 877,973 572 439,042 81,465 1,646,424 Total $ 250,069 $ 896,117 $ 572 $ 443,749 $ 82,414 $ 1,672,921 |
Amortized Costs, At The Class Level, For Nonaccrual Loans | Six Months Ended June 30, 2023 January 1, 2023 June 30, 2023 Amortized Cost with Allowance Amortized Cost without Allowance Total Amortized Cost Interest Income Recognized (in thousands) Commercial and industrial $ - $ 1,982 $ 1,982 $ 2,625 $ 12 Residential real estate: Residential 93 3,607 3,700 3,738 12 Construction - - - - - Commercial real estate: Commercial - 6,055 6,055 6,648 72 Construction 1,268 7,092 8,360 8,765 - Home equities - 305 305 563 - Consumer and other - - - - - Total nonaccrual loans $ 1,361 $ 19,041 $ 20,402 $ 22,339 $ 96 Six Months Ended June 30, 2022 January 1, 2022 June 30, 2022 Amortized Cost with Allowance Amortized Cost without Allowance Total Amortized Cost Interest Income Recognized (in thousands) Commercial and industrial $ 448 $ 451 $ 899 $ 4,919 $ 4 Residential real estate: Residential 30 13,893 13,923 3,020 12 Construction - - - - - Commercial real estate: Commercial 199 4,430 4,629 5,758 177 Construction - 108 108 2,942 - Home equities 196 2,241 2,437 755 10 Consumer and other - - - - - Total nonaccrual loans $ 873 $ 21,123 $ 21,996 $ 17,394 $ 203 |
Modifications to Borrowers Experiencing Financial Difficulty | (in thousands) Term Extension Total Class of Receivable Commercial and industrial $ - - % Residential real estate: Residential 104 0 Construction - - Commercial real estate: Commercial - - Construction - - Home equities - - Consumer and other - - - Total nonaccrual loans $ 104 0 % |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Other Comprehensive Income (Loss) [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | Balance at March 31, 2023 Net Change Balance at June 30, 2023 (in thousands) Net unrealized loss on investment securities $ ( 43,713 ) $ ( 4,294 ) $ ( 48,007 ) Net defined benefit pension plan adjustments ( 1,910 ) 20 ( 1,890 ) Total $ ( 45,623 ) $ ( 4,274 ) $ ( 49,897 ) Balance at March 31, 2022 Net Change Balance at June 30, 2022 (in thousands) Net unrealized loss on investment securities $ ( 19,865 ) $ ( 12,033 ) $ ( 31,898 ) Net defined benefit pension plan adjustments ( 2,456 ) 55 ( 2,401 ) Total $ ( 22,321 ) $ ( 11,978 ) $ ( 34,299 ) Balance at December 31, 2022 Net Change Balance at June 30, 2023 (in thousands) Net unrealized loss on investment securities $ ( 47,348 ) $ ( 659 ) $ ( 48,007 ) Net defined benefit pension plan adjustments ( 1,930 ) 40 ( 1,890 ) Total $ ( 49,278 ) $ ( 619 ) $ ( 49,897 ) Balance at December 31, 2021 Net Change Balance at June 30, 2022 (in thousands) Net unrealized loss on investment securities $ ( 3,160 ) $ ( 28,738 ) $ ( 31,898 ) Net defined benefit pension plan adjustments ( 2,511 ) 110 ( 2,401 ) Total $ ( 5,671 ) $ ( 28,628 ) $ ( 34,299 ) |
Components Of Other Comprehensive Income (Loss) | Three months ended June 30, 2023 Three months ended June 30, 2022 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized loss on investment securities $ ( 5,802 ) $ 1,508 $ ( 4,294 ) $ ( 16,243 ) $ 4,210 $ ( 12,033 ) Defined benefit pension plan adjustments: Amortization of prior service cost - - - 8 ( 3 ) 5 Amortization of actuarial loss 27 ( 7 ) 20 67 ( 17 ) 50 Net change 27 ( 7 ) 20 75 ( 20 ) 55 Other comprehensive (loss) income $ ( 5,775 ) $ 1,501 $ ( 4,274 ) $ ( 16,168 ) $ 4,190 $ ( 11,978 ) Six months ended June 30, 2023 Six months ended June 30, 2022 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized loss on investment securities $ ( 918 ) $ 259 $ ( 659 ) $ ( 38,780 ) $ 10,042 $ ( 28,738 ) Defined benefit pension plan adjustments: Amortization of prior service cost - - - 16 ( 6 ) 10 Amortization of actuarial loss 54 ( 14 ) 40 135 ( 35 ) 100 Net change 54 ( 14 ) 40 151 ( 41 ) 110 Other comprehensive (loss) income $ ( 864 ) $ 245 $ ( 619 ) $ ( 38,629 ) $ 10,001 $ ( 28,628 ) |
Net Periodic Benefit Costs (Tab
Net Periodic Benefit Costs (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Net Periodic Benefit Costs [Abstract] | |
Schedule Of Net Periodic Benefit Cost | Three months ended June 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2023 2022 2023 2022 Service cost $ - $ - $ 36 $ 33 Interest cost 63 45 63 31 Expected return on plan assets ( 67 ) ( 88 ) - - Amortization of prior service cost - - - 8 Amortization of the net loss 27 23 - 44 Net periodic (benefit) cost $ 23 $ ( 20 ) $ 99 $ 116 Six months ended June 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2023 2022 2023 2022 Service cost $ - $ - $ 72 $ 66 Interest cost 125 89 125 62 Expected return on plan assets ( 134 ) ( 176 ) - - Amortization of prior service cost - - - 16 Amortization of the net loss 54 47 - 88 Net periodic (benefit) cost $ 45 $ ( 40 ) $ 197 $ 232 |
Revenue Recognition Of Non-In_3
Revenue Recognition Of Non-Interest Income (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Revenue Recognition Of Non-Interest Income [Abstract] | |
Schedule Of Disaggregation Of Insurance Service And Other Fees | Three months ended June 30, 2023 2022 (in thousands) Commercial property and casualty insurance commissions $ 1,164 $ 1,031 Personal property and casualty insurance commissions 999 930 Employee benefits sales commissions 167 209 Profit sharing and contingent revenue 198 191 Wealth management and other financial services 162 179 Other insurance-related revenue 30 27 Total insurance service and other fees $ 2,720 $ 2,567 Six months ended June 30, 2023 2022 (in thousands) Commercial property and casualty insurance commissions $ 2,053 $ 1,819 Personal property and casualty insurance commissions 1,738 1,653 Employee benefits sales commissions 361 443 Profit sharing and contingent revenue 626 561 Wealth management and other financial services 288 320 Other insurance-related revenue 83 70 Total insurance service and other fees $ 5,149 $ 4,866 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Measurement [Abstract] | |
Financial Instruments Measured At Fair Value On Recurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value June 30, 2023 Securities available-for-sale: US treasuries and government agencies $ - $ 136,936 $ - $ 136,936 States and political subdivisions - 21,189 - 21,189 Mortgage-backed securities - 193,470 - 193,470 December 31, 2022 Securities available-for-sale: US treasuries and government agencies $ - $ 140,682 $ - $ 140,682 States and political subdivisions - 21,822 - 21,822 Mortgage-backed securities - 201,822 - 201,822 |
Financial Instruments Measured At Fair Value On Nonrecurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value June 30, 2023 Collateral dependent impaired loans $ - $ - $ 1,168 $ 1,168 December 31, 2022 Collateral dependent impaired loans $ - $ - $ 1,170 $ 1,170 |
Estimated Fair Values Of Financial Instruments | June 30, 2023 December 31, 2022 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 25,531 $ 25,531 $ 23,054 $ 23,054 Level 2: Available for sale securities 351,595 351,595 364,326 364,326 FHLB and FRB stock 7,026 N/A 13,511 N/A Level 3: Held to maturity securities 2,241 2,149 6,949 6,809 Loans, net 1,649,385 1,571,996 1,652,931 1,564,641 Financial liabilities: Level 1: Demand deposits $ 442,195 $ 442,195 $ 493,710 $ 493,710 NOW deposits 303,159 303,159 273,359 273,359 Savings deposits 726,687 726,687 801,943 801,943 Level 2: Securities sold under agreement to repurchase 19,185 19,185 7,147 7,147 Other borrowed funds 140,386 139,678 193,001 192,443 Subordinated debt 31,126 30,060 31,075 30,263 Level 3: Time deposits 314,574 310,117 202,667 199,910 |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Segment Information [Abstract] | |
Schedule Of Business Segments | Three months ended June 30, 2023 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 15,681 $ - $ 15,681 Provision for credit losses ( 116 ) - ( 116 ) Net interest income after provision for credit losses 15,797 - 15,797 Insurance service and fees 153 2,567 2,720 Other non-interest income 1,981 - 1,981 Amortization expense 5 95 100 Other non-interest expense 12,225 1,847 14,072 Income before income taxes 5,701 625 6,326 Income tax provision 1,241 153 1,394 Net income $ 4,460 $ 472 $ 4,932 Three months ended June 30, 2022 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 18,052 $ - $ 18,052 Provision for credit losses 267 - 267 Net interest income after provision for credit losses 17,785 - 17,785 Insurance service and fees 169 2,398 2,567 Other non-interest income 2,045 - 2,045 Amortization expense 5 95 100 Other non-interest expense 12,885 1,799 14,684 Income before income taxes 7,109 504 7,613 Income tax provision 1,748 131 1,879 Net income $ 5,361 $ 373 $ 5,734 Six months ended June 30, 2023 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 33,006 $ - $ 33,006 Provision for credit losses ( 770 ) - ( 770 ) Net interest income after provision for credit losses 33,776 - 33,776 Insurance service and fees 276 4,873 5,149 Other non-interest income 3,665 - 3,665 Amortization expense 10 190 200 Other non-interest expense 24,782 3,692 28,474 Income before income taxes 12,925 991 13,916 Income tax provision 2,948 236 3,184 Net income $ 9,977 $ 755 $ 10,732 Six months ended June 30, 2022 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 34,553 $ - $ 34,553 Provision for credit losses 488 - 488 Net interest income after provision for credit losses 34,065 - 34,065 Insurance service and fees 308 4,558 4,866 Other non-interest income 4,177 - 4,177 Amortization expense 10 190 200 Other non-interest expense 25,387 3,657 29,044 Income before income taxes 13,153 711 13,864 Income tax provision 3,197 185 3,382 Net income $ 9,956 $ 526 $ 10,482 |
Contingent Liabilities And Co_2
Contingent Liabilities And Commitments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Contingent Liabilities And Commitments [Abstract] | |
Summary Of Commitments And Contingent Liabilities | June 30, December 31, 2023 2022 (in thousands) Commitments to extend credit $ 439,445 $ 376,167 Standby letters of credit 2,848 3,673 Total $ 442,293 $ 379,840 |
Organization And Summary Of S_3
Organization And Summary Of Significant Accounting Policies (Narrative) (Details) $ in Thousands | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2023 USD ($) entity | Dec. 31, 2022 USD ($) | Mar. 31, 2023 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Number of subsidiaries | entity | 2 | |||||
Total Stockholders’ Equity | $ 159,484 | $ 153,993 | $ 158,251 | $ 162,675 | $ 169,203 | $ 183,892 |
Retained Earnings [Member] | ||||||
Total Stockholders’ Equity | $ 128,465 | 123,356 | $ 123,533 | $ 114,982 | $ 109,366 | $ 108,024 |
Retained Earnings [Member] | ASU 2016-13 [Member] | ||||||
Increase to allowance credit losses | 2,700 | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASU 2016-13 [Member] | ||||||
Total Stockholders’ Equity | (2,026) | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | ASU 2016-13 [Member] | ||||||
Total Stockholders’ Equity | $ (2,026) |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Schedule of Available-for-sale Securities [Line Items] | |||||
Available for sale securities pledged as collateral | $ 209,000,000 | $ 209,000,000 | $ 226,000,000 | ||
Gross realized gains (losses) from sales of investment securities | $ 0 | $ 0 | 0 | $ 0 | |
Other-than-temporary impairment charges | $ 0 | $ 0 | |||
Minimum [Member] | Mortgage-Backed Securities [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Contractual maturities duration | 10 years | 10 years |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost And Approximate Fair Value Of Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | $ 416,403 | $ 428,216 |
Available for Sale, Unrealized Gains | 1 | 5 |
Available for Sale, Unrealized Losses | (64,809) | (63,895) |
Available for Sale, Fair Value | 351,595 | 364,326 |
Held to Maturity, Amortized Cost | 2,241 | 6,949 |
Held to Maturity, Unrealized Losses | (92) | (140) |
Held to Maturity, Fair Value | 2,149 | 6,809 |
US Treasuries And Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 160,622 | 165,495 |
Available for Sale, Unrealized Gains | 1 | |
Available for Sale, Unrealized Losses | (23,686) | (24,814) |
Available for Sale, Fair Value | 136,936 | 140,682 |
States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 22,716 | 23,480 |
Available for Sale, Unrealized Gains | 1 | 4 |
Available for Sale, Unrealized Losses | (1,528) | (1,662) |
Available for Sale, Fair Value | 21,189 | 21,822 |
Held to Maturity, Amortized Cost | 2,241 | 6,949 |
Held to Maturity, Unrealized Losses | (92) | (140) |
Held to Maturity, Fair Value | 2,149 | 6,809 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 183,338 | 188,975 |
Available for Sale, Unrealized Gains | 1 | 5 |
Available for Sale, Unrealized Losses | (25,214) | (26,476) |
Available for Sale, Fair Value | 158,125 | 162,504 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 233,065 | 239,241 |
Available for Sale, Unrealized Losses | (39,595) | (37,419) |
Available for Sale, Fair Value | 193,470 | 201,822 |
FNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 74,130 | 75,921 |
Available for Sale, Unrealized Losses | (12,496) | (12,819) |
Available for Sale, Fair Value | 61,634 | 63,102 |
FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 45,897 | 46,922 |
Available for Sale, Unrealized Losses | (6,591) | (6,695) |
Available for Sale, Fair Value | 39,306 | 40,227 |
GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 39,387 | 40,039 |
Available for Sale, Unrealized Losses | (7,675) | (6,580) |
Available for Sale, Fair Value | 31,712 | 33,459 |
SBA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 21,623 | 22,556 |
Available for Sale, Unrealized Losses | (2,600) | (2,419) |
Available for Sale, Fair Value | 19,023 | 20,137 |
CMO [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 52,028 | 53,803 |
Available for Sale, Unrealized Losses | (10,233) | (8,906) |
Available for Sale, Fair Value | $ 41,795 | $ 44,897 |
Securities (Scheduled Maturitie
Securities (Scheduled Maturities Of Debt And Mortgage-Backed Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule of Available-for-sale Securities [Line Items] | ||
Debt securities available for sale, Due in one year or less, Amortized cost | $ 5,703 | |
Debt securities available for sale, Due after one year through five years, Amortized cost | 86,952 | |
Debt securities available for sale, Due after five years through ten years, Amortized cost | 61,692 | |
Debt securities available for sale, Due after ten years, Amortized cost | 28,991 | |
Total securities designated as available for sale, Amortized Cost | 183,338 | |
Total securities designated as available for sale, Amortized Cost | 416,403 | $ 428,216 |
Debt securities available for sale, Due in one year or less, Estimated fair value | 5,581 | |
Debt securities available for sale, Due after one year through five years, Estimated fair value | 80,186 | |
Debt securities available for sale, Due after five years through ten years, Estimated fair value | 51,962 | |
Debt securities available for sale, Due after ten years, Estimated fair value | 20,396 | |
Debt securities available for sale, Estimated fair value | 158,125 | |
$159,157 at December 31, 2021) | 351,595 | 364,326 |
Debt securities held to maturity, Due in one year or less, Amortized cost | 1,532 | |
Debt securities held to maturity, Due after one year through five years, Amortized cost | 333 | |
Debt securities held to maturity, Due after five years through ten years, Amortized cost | 376 | |
Held to Maturity, Amortized Cost | 2,241 | 6,949 |
Debt securities held to maturity, Due in one year or less, Estimated fair value | 1,527 | |
Debt securities held to maturity, Due after one year through five years, Estimated fair value | 305 | |
Debt securities held to maturity, Due after five years through ten years, Estimated fair value | 317 | |
Held to maturity, Estimated fair value | 2,149 | 6,809 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 183,338 | 188,975 |
$159,157 at December 31, 2021) | 158,125 | 162,504 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Mortgage-backed securities available for sale, Amortized cost | 233,065 | |
Total securities designated as available for sale, Amortized Cost | 233,065 | 239,241 |
Mortgage-backed securities available for sale, Estimated fair value | 193,470 | |
$159,157 at December 31, 2021) | $ 193,470 | $ 201,822 |
Securities (Unrealized Losses O
Securities (Unrealized Losses On Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired securities, Less than 12 months, Fair Value | $ 26,479 | $ 168,675 |
Total temporarily impaired securities, 12 months or longer, Fair Value | 326,309 | 199,595 |
Total temporarily impaired securities, Total, Fair Value | 352,788 | 368,270 |
Total temporarily impaired securities, Less than 12 months, Unrealized Losses | (953) | (15,505) |
Total temporarily impaired securities, 12 months or longer, Unrealized Losses | (63,948) | (48,530) |
Total temporarily impaired securities, Total, Unrealized Losses | (64,901) | (64,035) |
US Treasuries And Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 7,781 | 68,292 |
Available for Sale, 12 months or longer, Fair Value | 129,155 | 71,389 |
Available for Sale, Total, Fair Value | 136,936 | 139,681 |
Available for Sale, Less than 12 months, Unrealized Losses | (219) | (5,929) |
Available for Sale, 12 months or longer, Unrealized Losses | (23,467) | (18,885) |
Available for Sale, Total, Unrealized Losses | (23,686) | (24,814) |
States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 2,310 | 19,540 |
Available for Sale, 12 months or longer, Fair Value | 17,923 | 418 |
Available for Sale, Total, Fair Value | 20,233 | 19,958 |
Available for Sale, Less than 12 months, Unrealized Losses | (91) | (1,645) |
Available for Sale, 12 months or longer, Unrealized Losses | (1,437) | (17) |
Available for Sale, Total, Unrealized Losses | (1,528) | (1,662) |
Held To Maturity, Less than 12 months, Fair Value | 1,478 | 6,627 |
Held To Maturity, 12 months or longer, Fair Value | 671 | 182 |
Held To Maturity, Total, Fair Value | 2,149 | 6,809 |
Held To Maturity, Less than 12 months, Unrealized Losses | (5) | (118) |
Held To Maturity, 12 months or longer, Unrealized Losses | (87) | (22) |
Held To Maturity, Total, Unrealized Losses | (92) | (140) |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 10,091 | 87,832 |
Available for Sale, 12 months or longer, Fair Value | 147,078 | 71,807 |
Available for Sale, Total, Fair Value | 157,169 | 159,639 |
Available for Sale, Less than 12 months, Unrealized Losses | (310) | (7,574) |
Available for Sale, 12 months or longer, Unrealized Losses | (24,904) | (18,902) |
Available for Sale, Total, Unrealized Losses | (25,214) | (26,476) |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 14,910 | 74,216 |
Available for Sale, 12 months or longer, Fair Value | 178,560 | 127,606 |
Available for Sale, Total, Fair Value | 193,470 | 201,822 |
Available for Sale, Less than 12 months, Unrealized Losses | (638) | (7,813) |
Available for Sale, 12 months or longer, Unrealized Losses | (38,957) | (29,606) |
Available for Sale, Total, Unrealized Losses | (39,595) | (37,419) |
FNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 574 | 23,242 |
Available for Sale, 12 months or longer, Fair Value | 61,060 | 39,860 |
Available for Sale, Total, Fair Value | 61,634 | 63,102 |
Available for Sale, Less than 12 months, Unrealized Losses | (24) | (3,081) |
Available for Sale, 12 months or longer, Unrealized Losses | (12,472) | (9,738) |
Available for Sale, Total, Unrealized Losses | (12,496) | (12,819) |
FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 7,739 | 11,927 |
Available for Sale, 12 months or longer, Fair Value | 31,567 | 28,300 |
Available for Sale, Total, Fair Value | 39,306 | 40,227 |
Available for Sale, Less than 12 months, Unrealized Losses | (345) | (790) |
Available for Sale, 12 months or longer, Unrealized Losses | (6,246) | (5,905) |
Available for Sale, Total, Unrealized Losses | (6,591) | (6,695) |
GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 93 | 10,763 |
Available for Sale, 12 months or longer, Fair Value | 31,619 | 22,696 |
Available for Sale, Total, Fair Value | 31,712 | 33,459 |
Available for Sale, Less than 12 months, Unrealized Losses | (3) | (1,298) |
Available for Sale, 12 months or longer, Unrealized Losses | (7,672) | (5,282) |
Available for Sale, Total, Unrealized Losses | (7,675) | (6,580) |
SBA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 16,996 | |
Available for Sale, 12 months or longer, Fair Value | 19,023 | 3,141 |
Available for Sale, Total, Fair Value | 19,023 | 20,137 |
Available for Sale, Less than 12 months, Unrealized Losses | (1,971) | |
Available for Sale, 12 months or longer, Unrealized Losses | (2,600) | (448) |
Available for Sale, Total, Unrealized Losses | (2,600) | (2,419) |
CMO [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 6,504 | 11,288 |
Available for Sale, 12 months or longer, Fair Value | 35,291 | 33,609 |
Available for Sale, Total, Fair Value | 41,795 | 44,897 |
Available for Sale, Less than 12 months, Unrealized Losses | (266) | (673) |
Available for Sale, 12 months or longer, Unrealized Losses | (9,967) | (8,233) |
Available for Sale, Total, Unrealized Losses | $ (10,233) | $ (8,906) |
Loans And The Allowance For C_3
Loans And The Allowance For Credit Losses (Narrative) (Details) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 USD ($) item | Jun. 30, 2022 USD ($) item | Jun. 30, 2023 USD ($) item | Jun. 30, 2022 USD ($) item | Dec. 31, 2022 USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding principal balance | $ 800,000 | $ 800,000 | |||
Acquired credit-impaired loans | 700,000 | 700,000 | |||
Valuation allowances, acquired credit-impaired loans | 0 | 0 | $ 0 | ||
Provision Credit For Loan Losses | (116,000) | $ 267,000 | (770,000) | $ 488,000 | |
Total criticized assets increase | $ 74,000,000 | $ 74,000,000 | 93,000,000 | ||
Financing receivable modifications, experiencing financial difficulty, number of loans | item | 0 | 0 | |||
Loan commitments to lend additional funds to debtors | $ 0 | $ 0 | |||
Number of loan modifications | item | 1 | 0 | 2 | ||
Principal balances on loan modification | $ 104,000 | ||||
Residential Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance | 441,284,000 | 441,284,000 | |||
Residential Mortgages [Member] | Nonaccruing [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Principal balances on loan modification | 104,000 | ||||
Commercial Real Estate Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance | 921,288,000 | 921,288,000 | |||
Home Equity Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance | 79,141,000 | 79,141,000 | |||
Provision Credit For Loan Losses | $ (15,000) | ||||
Principal balances on loan modification | 38,000 | ||||
Commercial And Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance | 228,305,000 | 228,305,000 | |||
Principal balances on loan modification | $ 461,000 | 461,000 | |||
Consumer And Other Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance | 735,000 | 735,000 | |||
Total Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Provision Credit For Loan Losses | (116,000) | 267,000 | (770,000) | 488,000 | |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Provision Credit For Loan Losses | 88,000 | 102,000 | (254,000) | 92,000 | |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Mortgage loans sold | 600,000 | 4,600,000 | 3,500,000 | ||
Loan servicing portfolio principal balance | 115,000,000 | 115,000,000 | 116,000,000 | ||
Mortgage servicing rights | 1,100,000 | 1,100,000 | 1,100,000 | ||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | FNMA Loans [Member] | Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Mortgage loans sold | 2,900,000 | ||||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Provision Credit For Loan Losses | 79,000 | 26,000 | (107,000) | (62,000) | |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Provision Credit For Loan Losses | (5,000) | 76,000 | (88,000) | ||
Total Real Estate Loans [Member] | Commercial And Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Provision Credit For Loan Losses | (314,000) | 14,000 | (382,000) | 400,000 | |
Total Real Estate Loans [Member] | Consumer And Other Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Provision Credit For Loan Losses | 36,000 | $ 49,000 | 61,000 | $ 73,000 | |
Total Real Estate Loans [Member] | FHLBNY [Member] | Residential Mortgages [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Balance | 594,000,000 | 594,000,000 | 495,000,000 | ||
Hotel Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total criticized assets increase | $ 20,000,000 | $ 20,000,000 | $ 29,000,000 | ||
Minimum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Maturity Extensions | 159 months | ||||
Maximum [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Maturity Extensions | 164 months |
Loans And The Allowance For C_4
Loans And The Allowance For Credit Losses (Schedule Of Loan Portfolio Composition) (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unaccreted yield adjustments | $ (593) | $ (552) |
Total gross loans | 1,670,753 | 1,672,369 |
Allowance for loan losses | (21,368) | (19,438) |
Loans, net | 1,649,385 | 1,652,931 |
Commercial And Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 228,302 | 250,069 |
Total gross loans | 228,305 | 250,095 |
Consumer And Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 1,227 | 572 |
Total gross loans | 735 | 657 |
Total Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 1,671,346 | 1,672,921 |
Total Real Estate Loans [Member] | Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 1,441,817 | 1,422,280 |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 441,264 | 443,749 |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 438,081 | 440,123 |
Total gross loans | 438,101 | 439,708 |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 3,183 | 3,626 |
Total gross loans | 3,183 | 3,502 |
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 920,025 | 896,117 |
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 801,062 | 778,714 |
Total gross loans | 802,326 | 779,677 |
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 118,963 | 117,403 |
Total gross loans | 118,962 | 117,782 |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 80,528 | 82,414 |
Total gross loans | 79,141 | 80,948 |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 80,528 | 82,414 |
Total Real Estate Loans [Member] | Commercial And Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | 228,302 | 250,069 |
Total Real Estate Loans [Member] | Consumer And Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross loans | $ 1,227 | $ 572 |
Loans And The Allowance For C_5
Loans And The Allowance For Credit Losses (Data, At Class Level, Of Credit Quality Indicators Of Certain Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Total Real Estate Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | $ 75 | $ 89 | $ 105 | $ 153 |
Commercial And Industrial [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 10,527 | 10,527 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 49,760 | 49,760 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 27,694 | 27,694 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 14,377 | 14,377 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 7,432 | 7,432 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 10,607 | 10,607 | ||
Financing Receivable, Revolving | 107,908 | 107,908 | ||
Total Past Due | 228,305 | 228,305 | ||
Commercial And Industrial [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 10,210 | 10,210 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 40,898 | 40,898 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 27,245 | 27,245 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 9,464 | 9,464 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 6,502 | 6,502 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 7,562 | 7,562 | ||
Financing Receivable, Revolving | 98,867 | 98,867 | ||
Total Past Due | 200,748 | 200,748 | ||
Commercial And Industrial [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 317 | 317 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 8,859 | 8,859 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 445 | 445 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 4,891 | 4,891 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 877 | 877 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 2,104 | 2,104 | ||
Financing Receivable, Revolving | 5,336 | 5,336 | ||
Total Past Due | 22,829 | 22,829 | ||
Commercial And Industrial [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 3 | 3 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 4 | 4 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 22 | 22 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 53 | 53 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 941 | 941 | ||
Financing Receivable, Revolving | 3,705 | 3,705 | ||
Total Past Due | 4,728 | 4,728 | ||
Commercial And Industrial [Member] | Total Real Estate Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 7 | 31 | ||
Commercial Real Estate Mortgages [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 50,416 | 50,416 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 203,897 | 203,897 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 185,989 | 185,989 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 97,247 | 97,247 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 87,142 | 87,142 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 296,597 | 296,597 | ||
Total Past Due | 921,288 | 921,288 | ||
Commercial Real Estate Mortgages [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 50,416 | 50,416 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 202,641 | 202,641 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 173,515 | 173,515 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 95,499 | 95,499 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 69,887 | 69,887 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 283,278 | 283,278 | ||
Total Past Due | 875,236 | 875,236 | ||
Commercial Real Estate Mortgages [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,256 | 1,256 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 405 | 405 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,547 | 1,547 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 10,163 | 10,163 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 9,946 | 9,946 | ||
Total Past Due | 23,317 | 23,317 | ||
Commercial Real Estate Mortgages [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 12,069 | 12,069 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 201 | 201 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 7,092 | 7,092 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 3,373 | 3,373 | ||
Total Past Due | 22,735 | 22,735 | ||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | ||||
Consumer And Other Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 245 | 245 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 246 | 246 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 34 | 34 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 21 | 21 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 19 | 19 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 33 | 33 | ||
Financing Receivable, Revolving | 137 | 137 | ||
Total Past Due | 735 | 735 | ||
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 62 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 17 | |||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 79 | |||
Consumer And Other Loans [Member] | Performing Financial Instruments [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 245 | 245 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 246 | 246 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 34 | 34 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 21 | 21 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 19 | 19 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 33 | 33 | ||
Financing Receivable, Revolving | 137 | 137 | ||
Total Past Due | 735 | 735 | ||
Consumer And Other Loans [Member] | Total Real Estate Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 49 | 27 | 79 | 67 |
Residential Mortgages [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 15,038 | 15,038 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 74,138 | 74,138 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 104,150 | 104,150 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 72,143 | 72,143 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 18,497 | 18,497 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 157,318 | 157,318 | ||
Total Past Due | 441,284 | 441,284 | ||
Residential Mortgages [Member] | Performing Financial Instruments [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 14,912 | 14,912 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 73,992 | 73,992 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 103,982 | 103,982 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 71,910 | 71,910 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 18,405 | 18,405 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 154,383 | 154,383 | ||
Total Past Due | 437,584 | 437,584 | ||
Residential Mortgages [Member] | Non-Performing Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 126 | 126 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 146 | 146 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 168 | 168 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 233 | 233 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 92 | 92 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 2,935 | 2,935 | ||
Total Past Due | 3,700 | 3,700 | ||
Residential Mortgages [Member] | Total Real Estate Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | 1 | 55 | 1 | $ 55 |
Home Equity Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 6,246 | 6,246 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 3,140 | 3,140 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 657 | 657 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 639 | 639 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 639 | 639 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 2,324 | 2,324 | ||
Financing Receivable, Revolving | 65,496 | 65,496 | ||
Total Past Due | 79,141 | 79,141 | ||
Home Equity Loans [Member] | Performing Financial Instruments [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 6,246 | 6,246 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 3,140 | 3,140 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 657 | 657 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 639 | 639 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 639 | 639 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 2,321 | 2,321 | ||
Financing Receivable, Revolving | 65,194 | 65,194 | ||
Total Past Due | 78,836 | 78,836 | ||
Home Equity Loans [Member] | Non-Performing Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 3 | 3 | ||
Financing Receivable, Revolving | 302 | 302 | ||
Total Past Due | 305 | 305 | ||
Home Equity Loans [Member] | Total Real Estate Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Charge-offs | $ 25 | $ 25 |
Loans And The Allowance For C_6
Loans And The Allowance For Credit Losses (Recorded Investment In Loans Past Due) (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accruing Loans | $ 20,402 | $ 22,339 | $ 21,996 | $ 17,394 |
Loans | 1,670,753 | 1,672,369 | ||
Unaccreted yield adjustments | (593) | (552) | ||
Current [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 1,633,798 | 1,643,519 | ||
30-59 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 6,240 | 3,185 | ||
60-89 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 2,868 | 891 | ||
90+ Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 7,445 | 2,435 | ||
Commercial And Industrial [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 228,305 | |||
Non-accruing Loans | 1,982 | 2,625 | 899 | 4,919 |
Loans | 228,305 | 250,095 | ||
Commercial And Industrial [Member] | Current [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 226,270 | 246,412 | ||
Commercial And Industrial [Member] | 30-59 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 53 | 235 | ||
Commercial And Industrial [Member] | 60-89 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 684 | |||
Commercial And Industrial [Member] | 90+ Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 139 | |||
Residential Mortgages [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 441,284 | |||
Commercial Real Estate Mortgages [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 921,288 | |||
Home Equity Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 79,141 | |||
Non-accruing Loans | 305 | 563 | 2,437 | 755 |
Consumer And Other Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 735 | |||
Loans | 735 | 657 | ||
Consumer And Other Loans [Member] | Current [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 729 | 652 | ||
Consumer And Other Loans [Member] | 30-59 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 3 | 3 | ||
Consumer And Other Loans [Member] | 60-89 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 2 | 1 | ||
Consumer And Other Loans [Member] | 90+ Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 1 | 1 | ||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accruing Loans | 6,055 | 6,648 | 4,629 | 5,758 |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accruing Loans | 305 | 563 | ||
Loans | 79,141 | 80,948 | ||
Total Real Estate Loans [Member] | Home Equity Loans [Member] | Current [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 78,039 | 79,320 | ||
Total Real Estate Loans [Member] | Home Equity Loans [Member] | 30-59 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 652 | 759 | ||
Total Real Estate Loans [Member] | Home Equity Loans [Member] | 60-89 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 145 | 206 | ||
Total Real Estate Loans [Member] | Home Equity Loans [Member] | 90+ Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 100 | |||
Mortgages [Member] | Residential Mortgages [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accruing Loans | 3,700 | 3,738 | 13,923 | 3,020 |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accruing Loans | 3,700 | 3,738 | ||
Loans | 438,101 | 439,708 | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | Current [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 432,490 | 434,393 | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | 30-59 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 1,105 | |||
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | 60-89 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 1,911 | |||
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | 90+ Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 472 | |||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accruing Loans | 6,055 | 6,648 | ||
Loans | 802,326 | 779,677 | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Current [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 787,565 | 771,871 | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 30-59 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 1,327 | 1,083 | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 60-89 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 810 | |||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 90+ Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 6,569 | 75 | ||
Construction [Member] | Commercial Real Estate Mortgages [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accruing Loans | 8,360 | 8,765 | $ 108 | $ 2,942 |
Construction [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans | 3,183 | 3,502 | ||
Construction [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | Current [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 3,183 | 3,502 | ||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accruing Loans | 8,360 | 8,765 | ||
Loans | 118,962 | 117,782 | ||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Current [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 105,522 | 107,369 | ||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 30-59 Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | 4,205 | |||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 90+ Days [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Balance | $ 875 | $ 1,648 |
Loans And The Allowance For C_7
Loans And The Allowance For Credit Losses (Schedule Of Allowance For Loan Losses According To Portfolio Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Provision (Credit) | $ (116) | $ 267 | $ (770) | $ 488 | |
Unaccreted yield adjustments | (593) | (593) | $ (552) | ||
Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 21,523 | 18,618 | 19,438 | 18,438 | |
Allowance for credit losses: Charge-offs | (75) | (89) | (105) | (153) | |
Allowance for credit losses: Recoveries | 36 | 23 | 70 | 46 | |
Allowance for credit losses: Provision (Credit) | (116) | 267 | (770) | 488 | |
Allowance for credit losses: Ending balance | 21,368 | 18,819 | 21,368 | 18,819 | |
Allowance for credit losses: Individually evaluated for impairment | 186 | 186 | 356 | ||
Allowance for credit losses: Collectively evaluated for impairment | 21,182 | 21,182 | 19,082 | ||
Allowance for credit losses: Total | 21,368 | 18,819 | 21,368 | 18,819 | 19,438 |
Loans: Loans acquired with deteriorated credit quality | 687 | ||||
Loans: Individually evaluated for impairment | 23,951 | 23,951 | 25,810 | ||
Loans: Collectively evaluated for impairment | 1,647,395 | 1,647,395 | 1,646,424 | ||
Total | 1,671,346 | 1,671,346 | 1,672,921 | ||
Commercial And Industrial [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total | 228,302 | 228,302 | 250,069 | ||
Commercial And Industrial [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 5,267 | 3,688 | 4,980 | 3,309 | |
Allowance for credit losses: Charge-offs | (7) | (31) | |||
Allowance for credit losses: Recoveries | 20 | 19 | 51 | 36 | |
Allowance for credit losses: Provision (Credit) | (314) | 14 | (382) | 400 | |
Allowance for credit losses: Ending balance | 4,973 | 3,714 | 4,973 | 3,714 | |
Allowance for credit losses: Collectively evaluated for impairment | 4,973 | 4,973 | 4,980 | ||
Allowance for credit losses: Total | 4,973 | 3,714 | 4,973 | 3,714 | 4,980 |
Loans: Individually evaluated for impairment | 2,035 | 2,035 | 2,697 | ||
Loans: Collectively evaluated for impairment | 226,267 | 226,267 | 247,372 | ||
Total | 228,302 | 228,302 | 250,069 | ||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 12,554 | 12,279 | 11,595 | 12,367 | |
Allowance for credit losses: Charge-offs | |||||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provision (Credit) | 79 | 26 | (107) | (62) | |
Allowance for credit losses: Ending balance | 12,633 | 12,305 | 12,633 | 12,305 | |
Allowance for credit losses: Individually evaluated for impairment | 179 | 179 | 251 | ||
Allowance for credit losses: Collectively evaluated for impairment | 12,454 | 12,454 | 11,344 | ||
Allowance for credit losses: Total | 12,633 | 12,305 | 12,633 | 12,305 | 11,595 |
Loans: Individually evaluated for impairment | 17,161 | 17,161 | 18,144 | ||
Loans: Collectively evaluated for impairment | 902,864 | 902,864 | 877,973 | ||
Total | 920,025 | 920,025 | 896,117 | ||
Consumer And Other Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Charge-offs | (79) | ||||
Total | 1,227 | 1,227 | 572 | ||
Consumer And Other Loans [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 4 | 44 | 153 | 54 | |
Allowance for credit losses: Charge-offs | (49) | (27) | (79) | (67) | |
Allowance for credit losses: Recoveries | 16 | 4 | 19 | 10 | |
Allowance for credit losses: Provision (Credit) | 36 | 49 | 61 | 73 | |
Allowance for credit losses: Ending balance | 7 | 70 | 7 | 70 | |
Allowance for credit losses: Collectively evaluated for impairment | 7 | 7 | 153 | ||
Allowance for credit losses: Total | 7 | 70 | 7 | 70 | 153 |
Loans: Collectively evaluated for impairment | 1,227 | 1,227 | 572 | ||
Total | 1,227 | 1,227 | 572 | ||
Residential Mortgages [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 3,378 | 2,117 | 2,102 | 2,127 | |
Allowance for credit losses: Charge-offs | (1) | (55) | (1) | (55) | |
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provision (Credit) | 88 | 102 | (254) | 92 | |
Allowance for credit losses: Ending balance | 3,465 | 2,164 | 3,465 | 2,164 | |
Allowance for credit losses: Individually evaluated for impairment | 7 | 7 | 28 | ||
Allowance for credit losses: Collectively evaluated for impairment | 3,458 | 3,458 | 2,074 | ||
Allowance for credit losses: Total | 3,465 | 2,164 | 3,465 | 2,164 | 2,102 |
Loans: Loans acquired with deteriorated credit quality | 687 | ||||
Loans: Individually evaluated for impairment | 4,122 | 4,122 | 4,020 | ||
Loans: Collectively evaluated for impairment | 437,142 | 437,142 | 439,042 | ||
Total | 441,264 | 441,264 | 443,749 | ||
Home Equity Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 581 | ||||
Allowance for credit losses: Provision (Credit) | (15) | ||||
Allowance for credit losses: Ending balance | 566 | 566 | |||
Allowance for credit losses: Total | 566 | 566 | |||
Home Equity Loans [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 320 | 490 | 608 | ||
Allowance for credit losses: Charge-offs | (25) | (25) | |||
Allowance for credit losses: Recoveries | |||||
Allowance for credit losses: Provision (Credit) | (5) | 76 | (88) | ||
Allowance for credit losses: Ending balance | 290 | 566 | 290 | 566 | |
Allowance for credit losses: Individually evaluated for impairment | 77 | ||||
Allowance for credit losses: Collectively evaluated for impairment | 290 | 290 | 531 | ||
Allowance for credit losses: Total | 290 | $ 566 | 290 | $ 566 | 608 |
Loans: Individually evaluated for impairment | 633 | 633 | 949 | ||
Loans: Collectively evaluated for impairment | 79,895 | 79,895 | 81,465 | ||
Total | $ 80,528 | 80,528 | 82,414 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Total Real Estate Loans [Member] | ASU 2016-13 [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 2,735 | ||||
Allowance for credit losses: Total | 2,735 | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial And Industrial [Member] | Total Real Estate Loans [Member] | ASU 2016-13 [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 324 | ||||
Allowance for credit losses: Total | 324 | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | ASU 2016-13 [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 1,145 | ||||
Allowance for credit losses: Total | 1,145 | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Consumer And Other Loans [Member] | Total Real Estate Loans [Member] | ASU 2016-13 [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | (147) | ||||
Allowance for credit losses: Total | (147) | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Residential Mortgages [Member] | Total Real Estate Loans [Member] | ASU 2016-13 [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 1,618 | ||||
Allowance for credit losses: Total | 1,618 | ||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Home Equity Loans [Member] | Total Real Estate Loans [Member] | ASU 2016-13 [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | (205) | ||||
Allowance for credit losses: Total | (205) | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 22,173 | ||||
Allowance for credit losses: Total | 22,173 | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commercial And Industrial [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 5,304 | ||||
Allowance for credit losses: Total | 5,304 | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 12,740 | ||||
Allowance for credit losses: Total | 12,740 | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Consumer And Other Loans [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 6 | ||||
Allowance for credit losses: Total | 6 | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Residential Mortgages [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | 3,720 | ||||
Allowance for credit losses: Total | 3,720 | ||||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Home Equity Loans [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for credit losses: Beginning balance | $ 403 | ||||
Allowance for credit losses: Total | $ 403 |
Loans And The Allowance For C_8
Loans And The Allowance For Credit Losses (Amortized Costs, At The Class Level, For Nonaccrual Loans) (Details) - USD ($) $ in Thousands | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost With Allowance | $ 1,361 | $ 873 | ||
Amortized Cost Without Allowance | 19,041 | 21,123 | ||
Non-accruing Loans | 20,402 | 21,996 | $ 22,339 | $ 17,394 |
Interest Income Recognized | 96 | 203 | ||
Commercial And Industrial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost With Allowance | 448 | |||
Amortized Cost Without Allowance | 1,982 | 451 | ||
Non-accruing Loans | 1,982 | 899 | 2,625 | 4,919 |
Interest Income Recognized | 12 | 4 | ||
Residential Mortgages [Member] | Mortgages [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost With Allowance | 93 | 30 | ||
Amortized Cost Without Allowance | 3,607 | 13,893 | ||
Non-accruing Loans | 3,700 | 13,923 | 3,738 | 3,020 |
Interest Income Recognized | 12 | 12 | ||
Commercial Real Estate Mortgages [Member] | Construction [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost With Allowance | 1,268 | |||
Amortized Cost Without Allowance | 7,092 | 108 | ||
Non-accruing Loans | 8,360 | 108 | 8,765 | 2,942 |
Home Equity Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost With Allowance | 196 | |||
Amortized Cost Without Allowance | 305 | 2,241 | ||
Non-accruing Loans | 305 | 2,437 | 563 | 755 |
Interest Income Recognized | 10 | |||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Non-accruing Loans | 3,700 | 3,738 | ||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Amortized Cost With Allowance | 199 | |||
Amortized Cost Without Allowance | 6,055 | 4,430 | ||
Non-accruing Loans | 6,055 | 4,629 | 6,648 | $ 5,758 |
Interest Income Recognized | 72 | $ 177 | ||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Mortgages [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Non-accruing Loans | 6,055 | 6,648 | ||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Construction [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Non-accruing Loans | 8,360 | 8,765 | ||
Total Real Estate Loans [Member] | Home Equity Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Non-accruing Loans | $ 305 | $ 563 |
Loans And The Allowance For C_9
Loans And The Allowance For Credit Losses (Modifications to Borrowers Experiencing Financial Difficulty) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Financing Receivable, Modifications [Line Items] | |||
Term Extension | $ 104 | ||
Total Class of Receivable | 0% | ||
Commercial And Industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Term Extension | $ 461 | $ 461 | |
Home Equity Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Term Extension | $ 38 | ||
Nonaccruing [Member] | Residential Mortgages [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Term Extension | $ 104 | ||
Total Class of Receivable | 0% |
Loans And The Allowance For _10
Loans And The Allowance For Credit Losses (TDR Activity By Type Of Concession Granted To Borrower) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2022 USD ($) item | Jun. 30, 2023 USD ($) item | Jun. 30, 2022 USD ($) item | |
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | item | 1 | 0 | 2 |
Term Extension | $ 104 | ||
Commercial And Industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Term Extension | $ 461 | $ 461 | |
Home Equity Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Term Extension | $ 38 |
Common Equity And Earnings Pe_2
Common Equity And Earnings Per Share Data (Narrative) (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Common Equity And Earnings Per Share Data [Abstract] | ||||
Weighted average number of shares outstanding, dilutive | 6,565 | 37,695 | 19,835 | 44,722 |
Potentially anti-dilutive shares outstanding | 85,312 | 86,392 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | $ (45,623) | $ (22,321) | $ (49,278) | $ (5,671) |
Net Change | (4,274) | (11,978) | (619) | (28,628) |
Ending Balance | (49,897) | (34,299) | (49,897) | (34,299) |
Net Unrealized Loss On Investment Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (43,713) | (19,865) | (47,348) | (3,160) |
Net Change | (4,294) | (12,033) | (659) | (28,738) |
Ending Balance | (48,007) | (31,898) | (48,007) | (31,898) |
Net Defined Benefit Pension Plan Adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (1,910) | (2,456) | (1,930) | (2,511) |
Net Change | 20 | 55 | 40 | 110 |
Ending Balance | $ (1,890) | $ (2,401) | $ (1,890) | $ (2,401) |
Other Comprehensive Income (L_4
Other Comprehensive Income (Loss) (Components Of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Unrealized loss on investment securities: | ||||
Unrealized loss on investment securities, Before-Tax Amount | $ (5,802) | $ (16,243) | $ (918) | $ (38,780) |
Unrealized loss on investment securities, Income Tax (Provision) Benefit | 1,508 | 4,210 | 259 | 10,042 |
Unrealized loss on investment securities, Net-of-Tax Amount | (4,294) | (12,033) | (659) | (28,738) |
Defined benefit pension plan adjustments: | ||||
Amortization of prior service cost, Before-Tax Amount | 8 | 16 | ||
Amortization of prior service cost, Income Tax (Provision) Benefit | (3) | (6) | ||
Amortization of prior service cost, Net-of-Tax Amount | 5 | 10 | ||
Amortization of actuarial loss, Before-Tax Amount | 27 | 67 | 54 | 135 |
Amortization of actuarial loss, Income Tax (Provision) Benefit | (7) | (17) | (14) | (35) |
Amortization of actuarial loss, Net-of-Tax Amount | 20 | 50 | 40 | 100 |
Net change, Before-Tax Amount | 27 | 75 | 54 | 151 |
Net change, Income Tax (Provision) Benefit | (7) | (20) | (14) | (41) |
Total | 20 | 55 | 40 | 110 |
Other comprehensive (loss) income, Before-Tax Amount | (5,775) | (16,168) | (864) | (38,629) |
Other comprehensive (loss) income, Income Tax (Provision) Benefit | 1,501 | 4,190 | 245 | 10,001 |
OTHER COMPREHENSIVE (LOSS) INCOME , NET OF TAX: | $ (4,274) | $ (11,978) | $ (619) | $ (28,628) |
Net Periodic Benefit Costs (Sch
Net Periodic Benefit Costs (Schedule Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Pension Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | $ 63 | $ 45 | $ 125 | $ 89 |
Expected return on plan assets | (67) | (88) | (134) | (176) |
Amortization of the net loss | 27 | 23 | 54 | 47 |
Net periodic (benefit) cost | 23 | (20) | 45 | (40) |
Supplemental Executive Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 36 | 33 | 72 | 66 |
Interest cost | 63 | 31 | 125 | 62 |
Amortization of prior service cost | 8 | 16 | ||
Amortization of the net loss | 44 | 88 | ||
Net periodic (benefit) cost | $ 99 | $ 116 | $ 197 | $ 232 |
Revenue Recognition Of Non-In_4
Revenue Recognition Of Non-Interest Income (Schedule Of Disaggregation Of Insurance Service And Other Fees) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | $ 2,720 | $ 2,567 | $ 5,149 | $ 4,866 |
Commercial Property And Casualty Insurance Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 1,164 | 1,031 | 2,053 | 1,819 |
Personal Property And Casualty Insurance Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 999 | 930 | 1,738 | 1,653 |
Employee Benefits Sales Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 167 | 209 | 361 | 443 |
Profit Sharing And Contingent Revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 198 | 191 | 626 | 561 |
Wealth Management And Other Financial Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 162 | 179 | 288 | 320 |
Other Insurance-Related Revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | $ 30 | $ 27 | $ 83 | $ 70 |
Fair Value Measurement (Narrati
Fair Value Measurement (Narrative) (Details) $ in Millions | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Consumer Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Collateral dependent impaired loans, gross | $ 1.4 | $ 1.5 |
Impaired loans, allowance for loan loss | $ 0.2 | $ 0.4 |
Minimum [Member] | Level 3 [Member] | Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Discount on appraisals of the collateral | 10 | |
Maximum [Member] | Level 3 [Member] | Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Discount on appraisals of the collateral | 50 |
Fair Value Measurement (Financi
Fair Value Measurement (Financial Instruments Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 351,595 | $ 364,326 |
Recurring [Member] | US Treasuries And Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 136,936 | 140,682 |
Recurring [Member] | US Treasuries And Government Agencies [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 136,936 | 140,682 |
Recurring [Member] | States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 21,189 | 21,822 |
Recurring [Member] | States and Political Subdivisions [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 21,189 | 21,822 |
Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 193,470 | 201,822 |
Recurring [Member] | Mortgage-Backed Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 193,470 | $ 201,822 |
Fair Value Measurement (Finan_2
Fair Value Measurement (Financial Instruments Measured At Fair Value On Nonrecurring Basis) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 1,168 | $ 1,170 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 1,168 | $ 1,170 |
Fair Value Measurement (Estimat
Fair Value Measurement (Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | $ 351,595 | $ 364,326 |
Held to maturity securities | 2,149 | 6,809 |
Demand deposits | 442,195 | 493,710 |
NOW deposits | 303,159 | 273,359 |
Savings deposits | 726,687 | 801,943 |
Time deposits | 314,574 | 202,667 |
Carrying Amount [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 25,531 | 23,054 |
Demand deposits | 442,195 | 493,710 |
NOW deposits | 303,159 | 273,359 |
Savings deposits | 726,687 | 801,943 |
Carrying Amount [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 351,595 | 364,326 |
FHLB and FRB stock | 7,026 | 13,511 |
Securities sold under agreement to repurchase | 19,185 | 7,147 |
Other borrowed funds | 140,386 | 193,001 |
Subordinated debt | 31,126 | 31,075 |
Carrying Amount [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 2,241 | 6,949 |
Loans, net | 1,649,385 | 1,652,931 |
Time deposits | 314,574 | 202,667 |
Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 25,531 | 23,054 |
Demand deposits | 442,195 | 493,710 |
NOW deposits | 303,159 | 273,359 |
Savings deposits | 726,687 | 801,943 |
Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 351,595 | 364,326 |
FHLB and FRB stock | ||
Securities sold under agreement to repurchase | 19,185 | 7,147 |
Other borrowed funds | 139,678 | 192,443 |
Subordinated debt | 30,060 | 30,263 |
Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 2,149 | 6,809 |
Loans, net | 1,571,996 | 1,564,641 |
Time deposits | $ 310,117 | $ 199,910 |
Segment Information (Schedule O
Segment Information (Schedule Of Business Segments) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) segment | Jun. 30, 2022 USD ($) | |
Number of primary business segments | segment | 2 | |||
Net interest income | $ 15,681 | $ 18,052 | $ 33,006 | $ 34,553 |
Provision for credit losses | (116) | 267 | (770) | 488 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 15,797 | 17,785 | 33,776 | 34,065 |
Insurance service and fees | 2,720 | 2,567 | 5,149 | 4,866 |
Other non-interest income | 4,701 | 4,612 | 8,814 | 9,043 |
Amortization expense | 100 | 100 | 200 | 200 |
Other non-interest expense | 14,172 | 14,784 | 28,674 | 29,244 |
INCOME BEFORE INCOME TAXES | 6,326 | 7,613 | 13,916 | 13,864 |
Income tax provision | 1,394 | 1,879 | 3,184 | 3,382 |
NET INCOME | 4,932 | 5,734 | 10,732 | 10,482 |
Operating Segments [Member] | ||||
Net interest income | 15,681 | 18,052 | 33,006 | 34,553 |
Provision for credit losses | (116) | 267 | (770) | 488 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 15,797 | 17,785 | 33,776 | 34,065 |
Insurance service and fees | 2,720 | 2,567 | 5,149 | 4,866 |
Other non-interest income | 1,981 | 2,045 | 3,665 | 4,177 |
Amortization expense | 100 | 100 | 200 | 200 |
Other non-interest expense | 14,072 | 14,684 | 28,474 | 29,044 |
INCOME BEFORE INCOME TAXES | 6,326 | 7,613 | 13,916 | 13,864 |
Income tax provision | 1,394 | 1,879 | 3,184 | 3,382 |
NET INCOME | 4,932 | 5,734 | 10,732 | 10,482 |
Banking Activities [Member] | Operating Segments [Member] | ||||
Net interest income | 15,681 | 18,052 | 33,006 | 34,553 |
Provision for credit losses | (116) | 267 | (770) | 488 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 15,797 | 17,785 | 33,776 | 34,065 |
Insurance service and fees | 153 | 169 | 276 | 308 |
Other non-interest income | 1,981 | 2,045 | 3,665 | 4,177 |
Amortization expense | 5 | 5 | 10 | 10 |
Other non-interest expense | 12,225 | 12,885 | 24,782 | 25,387 |
INCOME BEFORE INCOME TAXES | 5,701 | 7,109 | 12,925 | 13,153 |
Income tax provision | 1,241 | 1,748 | 2,948 | 3,197 |
NET INCOME | 4,460 | 5,361 | 9,977 | 9,956 |
Insurance Agency Activities [Member] | Operating Segments [Member] | ||||
Insurance service and fees | 2,567 | 2,398 | 4,873 | 4,558 |
Amortization expense | 95 | 95 | 190 | 190 |
Other non-interest expense | 1,847 | 1,799 | 3,692 | 3,657 |
INCOME BEFORE INCOME TAXES | 625 | 504 | 991 | 711 |
Income tax provision | 153 | 131 | 236 | 185 |
NET INCOME | $ 472 | $ 373 | $ 755 | $ 526 |
Contingent Liabilities And Co_3
Contingent Liabilities And Commitments (Narrative) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Contingent Liabilities And Commitments [Abstract] | ||
Losses on commitments | $ 0 | $ 0 |
Reserve for commitments | $ 0 | $ 0 |
Contingent Liabilities And Co_4
Contingent Liabilities And Commitments (Summary Of Commitments And Contingent Liabilities) (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | $ 442,293 | $ 379,840 |
Commitments To Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 439,445 | 376,167 |
Standby Letters Of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | $ 2,848 | $ 3,673 |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2022 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Stockholders' Equity Attributable to Parent | $ 153,993 | $ 159,484 | $ 158,251 | $ 162,675 | $ 169,203 | $ 183,892 |
Retained Earnings [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Stockholders' Equity Attributable to Parent | 123,356 | $ 128,465 | $ 123,533 | $ 114,982 | $ 109,366 | $ 108,024 |
Retained Earnings [Member] | ASU 2016-13 [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 2,700 | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | ASU 2016-13 [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Stockholders' Equity Attributable to Parent | (2,026) | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | ASU 2016-13 [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Stockholders' Equity Attributable to Parent | $ (2,026) |