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UNTY Unity Bancorp

Document and Entity Information

Document and Entity Information - shares6 Months Ended
Jun. 30, 2020Jul. 31, 2020
Document and Entity Information [Abstract]
Document Type10-Q
Document Quarterly Reporttrue
Document Transition Reportfalse
Document Period End DateJun. 30,
2020
Entity File Number1-12431
Entity Registrant NameUNITY BANCORP INC /NJ/
Entity Incorporation, State or Country CodeNJ
Entity Tax Identification Number22-3282551
Entity Address, Address Line One64 Old Highway 22
Entity Address, City or TownClinton
Entity Address, State or ProvinceNJ
Entity Address, Postal Zip Code08809
City Area Code908
Local Phone Number730-7630
Title of 12(b) SecurityCommon stock
Trading SymbolUNTY
Security Exchange NameNASDAQ
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryAccelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding10,678,794
Entity Central Index Key0000920427
Current Fiscal Year End Date--12-31
Document Fiscal Year Focus2020
Document Fiscal Period FocusQ2
Amendment Flagfalse

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) shares in Thousands, $ in ThousandsJun. 30, 2020Dec. 31, 2019
ASSETS
Cash and due from banks $ 24,066 $ 21,106
Federal funds sold and interest-bearing deposits162,617 136,910
Cash and cash equivalents186,683 158,016
Securities:
Debt securities available for sale (amortized cost of $52,288 in 2020 and $63,883 in 2019)53,102 64,275
Equity securities with readily determinable fair values (amortized cost of $2,112 in 2020 and $2,218 in 2019)1,786 2,289
Total securities54,888 66,564
Loans:
SBA loans held for sale10,602 13,529
Loans1,581,905 1,412,029
Total loans1,592,507 1,425,558
Allowance for loan losses(20,234)(16,395)
Net loans1,572,273 1,409,163
Premises and equipment, net20,751 21,315
Bank owned life insurance ("BOLI")26,435 26,323
Deferred tax assets7,274 5,559
Federal Home Loan Bank ("FHLB") stock11,629 14,184
Accrued interest receivable11,039 6,984
Other real estate owned ("OREO")711 1,723
Goodwill1,516 1,516
Prepaid expenses and other assets7,575 7,595
Total assets1,900,774 1,718,942
Deposits:
Noninterest-bearing demand429,899 279,793
Interest-bearing demand172,950 176,335
Savings408,416 389,795
Time, under $100,000271,974 195,446
Time, $100,000 to $250,000113,237 126,192
Time, $250,000 and over86,981 82,553
Total deposits1,483,457 1,250,114
Borrowed funds223,000 283,000
Subordinated debentures10,310 10,310
Accrued interest payable228 455
Accrued expenses and other liabilities17,172 14,354
Total liabilities1,734,167 1,558,233
Shareholders' equity:
Common stock91,103 90,113
Retained earnings79,253 70,442
Treasury stock(2,991)0
Accumulated other comprehensive (loss) income(758)154
Total shareholders' equity166,607 160,709
Total liabilities and shareholders' equity $ 1,900,774 $ 1,718,942
Shares issued10,939 10,881
Shares outstanding10,728 10,881
Treasury shares211 0
SBA loans held for investment
Loans:
Loans $ 36,966 $ 35,767
SBA PPP loans
Loans:
Loans136,039 0
Commercial loans
Loans:
Loans792,752 765,032
Residential mortgage loans
Loans:
Loans469,987 467,706
Consumer loans
Loans:
Loans $ 146,161 $ 143,524

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Statement of Financial Position [Abstract]
Securities available for sale, amortized cost basis $ 52,288 $ 63,883
Equity securities, amortized cost basis $ 2,112 $ 2,218

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
INTEREST INCOME
Federal funds sold and interest-bearing deposits $ 23 $ 232 $ 212 $ 453
FHLB stock79 77 188 193
Securities:
Taxable437 461 948 937
Tax-exempt17 27 39 55
Total securities454 488 987 992
Loans:
SBA loans709 942 1,694 1,937
SBA PPP loans723 723
Commercial loans9,815 9,357 19,748 18,426
Residential mortgage loans5,554 5,535 11,324 11,095
Consumer loans1,921 2,150 3,988 4,185
Total loans18,722 17,984 37,477 35,643
Total interest income19,278 18,781 38,864 37,281
INTEREST EXPENSE
Interest-bearing demand deposits364 442 842 851
Savings deposits512 1,188 1,363 2,306
Time deposits2,454 2,437 4,900 4,445
Borrowed funds and subordinated debentures423 504 989 1,253
Total interest expense3,753 4,571 8,094 8,855
Net interest income15,525 14,210 30,770 28,426
Provision for loan losses2,500 350 4,000 850
Net interest income after provision for loan losses13,025 13,860 26,770 27,576
NONINTEREST INCOME
Branch fee income207 378 523 746
Service and loan fee income390 569 766 1,011
Gain on sale of SBA loans held for sale, net92 238 565 554
Gain on sale of mortgage loans, net1,553 630 2,604 980
BOLI income154 147 327 297
Net security gains (losses)79 98 (91)198
Other income336 351 662 647
Total noninterest income2,811 2,411 5,356 4,433
NONINTEREST EXPENSE
Compensation and benefits5,553 5,186 10,992 10,030
Processing and communications769 748 1,477 1,464
Furniture and equipment641 718 1,296 1,377
Occupancy630 653 1,253 1,346
BSA expenses488 550
Professional services261 277 531 565
Advertising207 374 497 722
Director fees181 164 381 328
Other loan expenses168 67 257 113
Deposit insurance159 134 247 301
Loan collection and OREO expenses (recoveries)1 (10)187 57
Other expenses119 480 833 966
Total noninterest expense9,177 8,791 18,501 17,269
Income before provision for income taxes6,659 7,480 13,625 14,740
Provision for income taxes1,488 1,646 3,086 3,166
Net income $ 5,171 $ 5,834 $ 10,539 $ 11,574
Net income per common share - Basic (in dollars per share) $ 0.48 $ 0.54 $ 0.97 $ 1.07
Net income per common share - Diluted (in dollars per share) $ 0.47 $ 0.53 $ 0.96 $ 1.05
Weighted average common shares outstanding - Basic (in shares)10,792 10,843 10,838 10,822
Weighted average common shares outstanding - Diluted (in shares)10,888 11,026 10,962 11,011

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income, before tax amount $ 6,659 $ 7,480 $ 13,625 $ 14,740
Income tax expense1,488 1,646 3,086 3,166
Net income5,171 5,834 10,539 11,574
Debt securities available for sale:
Unrealized holding gains on securities arising during the period, before tax497 874 331 1,187
Unrealized holding gains on securities arising during the period, tax135 243 100 316
Unrealized holding gains on securities arising during the period, net362 631 231 871
Less: reclassification adjustment for gains (losses) on securities included in net income, before tax79 98 (91)198
Less: reclassification adjustment for gains (losses) on securities included in net income, tax17 21 (19)42
Total reclassification adjustment for gains (losses) on securities included in net income62 77 (72)156
Total unrealized gains on securities available for sale, before tax418 776 422 989
Total unrealized gains on securities available for sale, tax118 222 119 274
Total unrealized gains on securities available for sale, net of tax300 554 303 715
Adjustments related to defined benefit plan:
Amortization of prior service cost, before tax21 21 42 42
Amortization of prior service cost, tax6 6 12 (64)
Amortization of prior service cost, net of tax15 15 30 106
Total adjustments related to defined benefit plan, before tax21 21 42 42
Total adjustments related to defined benefit plan, tax6 6 12 (64)
Total adjustments related to defined benefit plan15 15 30 106
Net unrealized losses from cash flow hedges:
Unrealized holding losses on cash flow hedges arising during the period, before tax(340)(584)(1,750)(992)
Unrealized holding losses on cash flow hedges arising during the period, tax(99)(169)(505)(275)
Unrealized holding losses on cash flow hedges arising during the period, net of tax(241)(415)(1,245)(717)
Total unrealized losses on cash flow hedges, before tax(340)(584)(1,750)(992)
Total unrealized losses on cash flow hedges, tax(99)(169)(505)(275)
Total unrealized losses on cash flow hedges, net of tax(241)(415)(1,245)(717)
Total other comprehensive income (loss), before tax99 213 (1,286)39
Total other comprehensive income (loss), tax25 59 (374)(65)
Total other comprehensive income (loss), net74 154 (912)104
Total comprehensive income, before tax6,758 7,693 12,339 14,779
Total comprehensive income, tax1,513 1,705 2,712 3,101
Total comprehensive income $ 5,245 $ 5,988 $ 9,627 $ 11,678

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in ThousandsStockRetained earningsAccumulated other comprehensive income (loss)Treasury stockTotal
Beginning Balance at Dec. 31, 2018 $ 88,484 $ 50,161 $ (157) $ 138,488
Beginning Balance (in shares) at Dec. 31, 201810,780
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income5,740 5,740
Other comprehensive income (loss), net of tax(50)(50)
Dividends on common stock $ 26 (756)(730)
Common stock issued and related tax effects[1] $ 269 269
Common stock issued and related tax effects (in shares)[1]42
Ending Balance at Mar. 31, 2019 $ 88,779 55,145 (207)143,717
Ending Balance (in shares) at Mar. 31, 201910,822
Beginning Balance at Dec. 31, 2018 $ 88,484 50,161 (157)138,488
Beginning Balance (in shares) at Dec. 31, 201810,780
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income11,574
Other comprehensive income (loss), net of tax104
Ending Balance at Jun. 30, 2019 $ 89,327 60,109 (53)149,383
Ending Balance (in shares) at Jun. 30, 201910,856
Beginning Balance at Mar. 31, 2019 $ 88,779 55,145 (207)143,717
Beginning Balance (in shares) at Mar. 31, 201910,822
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income5,834 5,834
Other comprehensive income (loss), net of tax154 154
Dividends on common stock $ 31 (870)(839)
Common stock issued and related tax effects[1] $ 517 517
Common stock issued and related tax effects (in shares)[1]34
Ending Balance at Jun. 30, 2019 $ 89,327 60,109 (53)149,383
Ending Balance (in shares) at Jun. 30, 201910,856
Beginning Balance at Dec. 31, 2019 $ 90,113 70,442 154 $ 0 $ 160,709
Beginning Balance (in shares) at Dec. 31, 201910,881 10,881
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income5,368 $ 5,368
Other comprehensive income (loss), net of tax(986)(986)
Dividends on common stock $ 30 (871)(841)
Common stock issued and related tax effects[1] $ 227 227
Common stock issued and related tax effects (in shares)[1]13
Acquisition of treasury stock, at cost(172)(172)
Acquisition of treasury stock, at cost (in shares)(11)
Ending Balance at Mar. 31, 2020 $ 90,370 74,939 (832)(172)164,305
Ending Balance (in shares) at Mar. 31, 202010,883
Beginning Balance at Dec. 31, 2019 $ 90,113 70,442 154 0 $ 160,709
Beginning Balance (in shares) at Dec. 31, 201910,881 10,881
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income $ 10,539
Other comprehensive income (loss), net of tax(912)
Ending Balance at Jun. 30, 2020 $ 91,103 79,253 (758)(2,991) $ 166,607
Ending Balance (in shares) at Jun. 30, 202010,728 10,728
Beginning Balance at Mar. 31, 2020 $ 90,370 74,939 (832)(172) $ 164,305
Beginning Balance (in shares) at Mar. 31, 202010,883
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income5,171 5,171
Other comprehensive income (loss), net of tax74 74
Dividends on common stock $ 29 (857)(828)
Common stock issued and related tax effects[1] $ 704 704
Common stock issued and related tax effects (in shares)[1]45
Acquisition of treasury stock, at cost(2,819)(2,819)
Acquisition of treasury stock, at cost (in shares)(200)
Ending Balance at Jun. 30, 2020 $ 91,103 $ 79,253 $ (758) $ (2,991) $ 166,607
Ending Balance (in shares) at Jun. 30, 202010,728 10,728
[1]Includes the issuance of common stock under employee benefit plans, which includes nonqualified stock options and restricted stock expense related entries, employee option exercises and the tax benefit of options exercised.

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares3 Months Ended
Jun. 30, 2020Mar. 31, 2020Jun. 30, 2019Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends per share, cash paid (in dollars per share) $ 0.08 $ 0.08 $ 0.08 $ 0.07

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)6 Months Ended
Jun. 30, 2020Jun. 30, 2019
OPERATING ACTIVITIES:
Net income $ 10,539,000 $ 11,574,000
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses4,000,000 850,000
Net amortization of purchase premiums and discounts on securities115,000 81,000
Depreciation and amortization791,000 795,000
PPP deferred fees and costs4,419,000 0
Deferred income tax (benefit)(1,343,000)(262,000)
Net security gains(306,000)0
Stock compensation expense707,000 604,000
Valuation writedowns on OREO200,000 0
Gain on sale of mortgage loans, net(1,861,000)(619,000)
Gain on sale of SBA loans held for sale, net(565,000)(554,000)
Origination of mortgage loans sold(105,855,000)(43,022,000)
Origination of SBA loans held for sale(3,150,000)(5,479,000)
Proceeds from sale of mortgage loans, net107,716,000 43,641,000
Proceeds from sale of SBA loans held for sale, net7,095,000 9,629,000
BOLI income(327,000)(297,000)
Net change in other assets and liabilities(2,746,000)(1,221,000)
Net cash provided by operating activities19,429,000 15,720,000
INVESTING ACTIVITIES
Purchases of securities available for sale(2,717,000)0
Purchases of FHLB stock, at cost(39,430,000)(42,989,000)
Maturities and principal payments on securities held to maturity413,000
Maturities and principal payments on debt securities available for sale8,471,000 2,306,000
Proceeds from sales of securities available for sale6,029,000 0
Proceeds from sales of equity securities111,000 0
Proceeds from redemption of FHLB stock41,985,000 43,785,000
Proceeds from sale of OREO812,000 0
Originations of SBA PPP Loans(140,516,000)0
Net increase in loans(34,351,000)(45,083,000)
Proceeds from BOLI215,000 0
Purchases of premises and equipment(278,000)(287,000)
Net cash used in investing activities(159,669,000)(41,855,000)
FINANCING ACTIVITIES
Net increase in deposits233,343,000 56,666,000
Proceeds from new borrowings183,000,000 190,000,000
Repayments of borrowings(243,000,000)(210,000,000)
Proceeds from exercise of stock options395,518 363,064
Fair market value of shares withheld to cover employee tax liability(172,000)0
Dividends on common stock(1,669,000)(1,569,000)
Purchase of treasury stock(2,991,000)0
Net cash provided by financing activities168,907,000 35,460,000
Increase in cash and cash equivalents28,667,000 9,325,000
Cash and cash equivalents, beginning of period158,016,000 145,515,000
Cash and cash equivalents, end of period186,683,000 154,840,000
SUPPLEMENTAL DISCLOSURES
Interest paid8,321,000 8,847,000
Income taxes paid3,632,000 4,132,000
Noncash investing activities:
Establishment of lease liability and right-of-use asset3,191,000
Transfer of SBA loans held for sale to held to maturity1,204,000 0
Capitalization of servicing rights $ 578,000 428,000
Transfer of loans to OREO $ 976,000

Significant Accounting Policies

Significant Accounting Policies6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]
Significant Accounting PoliciesNOTE 1. Significant Accounting Policies The accompanying Consolidated Financial Statements include the accounts of Unity Bancorp, Inc. (the "Parent Company") and its wholly-owned subsidiary, Unity Bank (the "Bank" or when consolidated with the Parent Company, the "Company"), and reflect all adjustments and disclosures which are generally routine and recurring in nature, and in the opinion of management, necessary for a fair presentation of interim results. The Bank has multiple subsidiaries used to hold part of its investment and loan portfolios and OREO properties. All significant intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications have been made to prior period amounts to conform to the current year presentation, with no impact on current earnings or shareholders’ equity. The financial information has been prepared in accordance with U.S. generally accepted accounting principles and has not been audited. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses during the reporting periods. Actual results could differ from those estimates. Amounts requiring the use of significant estimates include the allowance for loan losses, valuation of deferred tax and servicing assets, the carrying value of loans held for sale and other real estate owned, the valuation of securities and the determination of other-than-temporary impairment for securities and fair value disclosures. Management believes that the allowance for loan losses is adequate. While management uses available information to recognize losses on loans, future additions to the allowance for loan losses may be necessary based on changes in economic conditions. The markets served by the Company have been significantly impacted by the COVID-19 pandemic, which started during the first quarter of 2020. The Company continues to assess the financial impact of the COVID-19 pandemic. The interim unaudited Consolidated Financial Statements included herein have been prepared in accordance with instructions for Form 10-Q and the rules and regulations of the Securities and Exchange Commission (“SEC”) and consist of normal recurring adjustments necessary for the fair presentation of interim results. The results of operations for the six months ended June 30, 2020 are not necessarily indicative of the results which may be expected for the entire year. As used in this Form 10-Q, “we” and “us” and “our” refer to Unity Bancorp, Inc., and its consolidated subsidiary, Unity Bank, depending on the context. Certain information and financial disclosures required by U.S. generally accepted accounting principles have been condensed or omitted from interim reporting pursuant to SEC rules. Interim financial statements should be read in conjunction with the Company’s Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Other-Than-Temporary Impairment The Company has a process in place to identify securities that could potentially incur credit impairment that is other-than-temporary. This process involves monitoring late payments, pricing levels, downgrades by rating agencies, key financial ratios, financial statements, revenue forecasts and cash flow projections as indicators of credit issues. Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concern warrants such evaluation. This evaluation considers relevant facts and circumstances in evaluating whether a credit or interest rate-related impairment of a security is other-than-temporary. Relevant facts and circumstances considered include: (1) the extent and length of time the fair value has been below cost; (2) the reasons for the decline in value; (3) the financial position and access to capital of the issuer, including the current and future impact of any specific events and (4) for fixed maturity securities, the intent to sell a security or whether it is more likely than not the Company will be required to sell the security before the recovery of its amortized cost which, in some cases, may extend to maturity and for equity securities, our ability and intent to hold the security for a forecasted period of time that allows for the recovery in value. Management assesses its intent to sell or whether it is more likely than not that it will be required to sell a security before recovery of its amortized cost basis less any current-period credit losses. For debt securities that are considered other-than-temporarily impaired with no intent to sell and no requirement to sell prior to recovery of its amortized cost basis, the amount of the impairment is separated into the amount that is credit related (credit loss component) and the amount due to all other factors. The credit loss component is recognized in earnings and is the difference between the security’s amortized cost basis and the present value of its expected future cash flows. The remaining difference between the security’s fair value and the present value of future expected cash flows is due to factors that are not credit related and is recognized in other comprehensive income. For debt securities where management has the intent to sell, the amount of the impairment is reflected in earnings as realized losses. The present value of expected future cash flows is determined using the best estimate cash flows discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete an asset-backed or floating rate security. The methodology and assumptions for establishing the best estimate cash flows vary depending on the type of security. The asset-backed securities cash flow estimates are based on bond specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity and prepayment speeds and structural support, including subordination and guarantees. The corporate bond cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or the disposition of assets using bond specific facts and circumstances including timing, security interests and loss severity. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Loans Loans Held for Sale Loans held for sale represent the guaranteed portion of Small Business Administration (“SBA”) loans and are reflected at the lower of aggregate cost or market value. The Company originates loans to customers under an SBA program that historically has provided for SBA guarantees of up to 90 percent of each loan. The Company generally sells the guaranteed portion of its SBA loans to a third party and retains the servicing, holding the nonguaranteed portion in its portfolio. The net amount of loan origination fees on loans sold is included in the carrying value and in the gain or loss on the sale. When sales of SBA loans do occur, the premium received on the sale and the present value of future cash flows of the servicing assets are recognized in income. All criteria for sale accounting must be met in order for the loan sales to occur; see details under the “Transfers of Financial Assets” heading above. Servicing assets represent the estimated fair value of retained servicing rights, net of servicing costs, at the time loans are sold. Servicing assets are amortized in proportion to, and over the period of, estimated net servicing revenues. Impairment is evaluated based on stratifying the underlying financial assets by date of origination and term. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Any impairment, if temporary, would be reported as a valuation allowance. Serviced loans sold to others are not included in the accompanying Consolidated Balance Sheets. Income and fees collected for loan servicing are credited to noninterest income when earned, net of amortization on the related servicing assets. Loans Held to Maturity Loans held to maturity are stated at the unpaid principal balance, net of unearned discounts and deferred loan origination fees and costs. In accordance with the level yield method, loan origination fees, net of direct loan origination costs, are deferred and recognized over the estimated life of the related loans as an adjustment to the loan yield. Interest is credited to operations primarily based upon the principal balance outstanding. Loans are reported as past due when either interest or principal is unpaid in the following circumstances: fixed payment loans when the borrower is in arrears for two or more monthly payments; open end credit for two or more billing cycles; and single payment notes if interest or principal remains unpaid for 30 days or more. Nonperforming loans consist of loans that are not accruing interest as a result of principal or interest being in default for a period of 90 days or more or when the ability to collect principal and interest according to the contractual terms is in doubt (nonaccrual loans). When a loan is classified as nonaccrual, interest accruals are discontinued and all past due interest previously recognized as income is reversed and charged against current period earnings. Generally, until the loan becomes current, any payments received from the borrower are applied to outstanding principal until such time as management determines that the financial condition of the borrower and other factors merit recognition of a portion of such payments as interest income. Loans may be returned to an accrual status when the ability to collect is reasonably assured and when the loan is brought current as to principal and interest. Loans are charged off when collection is sufficiently questionable and when the Company can no longer justify maintaining the loan as an asset on the balance sheet. Loans qualify for charge-off when, after thorough analysis, all possible sources of repayment are insufficient. These include: 1) potential future cash flows, 2) value of collateral, and/or 3) strength of co-makers and guarantors. All unsecured loans are charged off upon the establishment of the loan’s nonaccrual status. Additionally, all loans classified as a loss or that portion of the loan classified as a loss is charged off. All loan charge-offs are approved by the Board of Directors. Troubled debt restructurings ("TDRs") occur when a creditor, for economic or legal reasons related to a debtor’s financial condition, grants a concession to the debtor that it would not otherwise consider. These concessions typically include reductions in interest rate, extending the maturity of a loan, or a combination of both. Interest income on accruing TDRs is credited to operations primarily based upon the principal amount outstanding, as stated in the paragraphs above. The Company evaluates its loans for impairment. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The Company has defined impaired loans to be all TDRs and nonperforming loans individually evaluated for impairment. Impairment is evaluated in total for smaller-balance loans of a similar nature (consumer and residential mortgage loans), and on an individual basis for all other loans. Impairment of a loan is measured based on the present value of expected future cash flows, discounted at the loan’s effective interest rate, or as a practical expedient, based on a loan’s observable market price or the fair value of collateral, net of estimated costs to sell, if the loan is collateral-dependent. If the value of the impaired loan is less than the recorded investment in the loan, the Company establishes a valuation allowance, or adjusts existing valuation allowances, with a corresponding charge to the provision for loan losses. For additional information on loans, see Note 8 to the Consolidated Financial Statements and the section titled "Loan Portfolio" under Item 2. Management’s Discussion and Analysis. Allowance for Loan Losses and Reserve for Unfunded Loan Commitments The allowance for loan losses is maintained at a level management considers adequate to provide for probable loan losses as of the balance sheet date. The allowance is increased by provisions charged to expense and is reduced by net charge-offs. The level of the allowance is based on management’s evaluation of probable losses in the loan portfolio, after consideration of prevailing economic conditions in the Company’s market area, the volume and composition of the loan portfolio, and historical loan loss experience. The allowance for loan losses consists of specific reserves for individually impaired credits and TDRs, reserves for nonimpaired loans based on historical loss factors and reserves based on general economic factors and other qualitative risk factors such as changes in delinquency trends, industry concentrations or local/national economic trends. This risk assessment process is performed at least quarterly, and, as adjustments become necessary, they are realized in the periods in which they become known. Although management attempts to maintain the allowance at a level deemed adequate to provide for probable losses, future additions to the allowance may be necessary based upon certain factors including changes in market conditions and underlying collateral values. In addition, various regulatory agencies periodically review the adequacy of the Company’s allowance for loan losses. These agencies may require the Company to make additional provisions based on their judgments about information available to them at the time of their examination. The Company maintains an allowance for unfunded loan commitments that is maintained at a level that management believes is adequate to absorb estimated probable losses. Adjustments to the allowance are made through other expenses and applied to the allowance which is maintained in other liabilities. For additional information on the allowance for loan losses and unfunded loan commitments, see Note 9 to the Consolidated Financial Statements and the sections titled "Asset Quality" and "Allowance for Loan Losses and Reserve for Unfunded Loan Commitments" under Item 2. Management’s Discussion and Analysis. Income Taxes The Company accounts for income taxes according to the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates applicable to taxable income for the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation reserves are established against certain deferred tax assets when it is more likely than not that the deferred tax assets will not be realized. Increases or decreases in the valuation reserve are charged or credited to the income tax provision. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that ultimately would be sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. The evaluation of a tax position taken is considered by itself and not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest and penalties associated with unrecognized tax benefits would be recognized in income tax expense on the income statement.

Litigation

Litigation6 Months Ended
Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
LitigationNOTE 2. Litigation The Company may, in the ordinary course of business, become a party to litigation involving collection matters, contract claims and other legal proceedings relating to the conduct of its business. In the best judgment of management, based upon consultation with counsel, the consolidated financial position and results of operations of the Company will not be affected materially by the final outcome of any pending legal proceedings or other contingent liabilities and commitments.

Net Income per Share

Net Income per Share6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]
Net Income per ShareNOTE 3. Net Income per Share Basic net income per common share is calculated as net income divided by the weighted average common shares outstanding during the reporting period. Diluted net income per common share is computed similarly to that of basic net income per common share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if all potentially dilutive common shares, principally stock options, were issued during the reporting period utilizing the Treasury stock method. The following is a reconciliation of the calculation of basic and diluted income per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands, except per share amounts) 2020 2019 2020 2019 ​ Net income ​ $ 5,171 ​ $ 5,834 ​ $ 10,539 ​ $ 11,574 ​ Weighted average common shares outstanding - Basic ​ 10,792 ​ 10,843 ​ 10,838 ​ 10,822 ​ Plus: Potential dilutive common stock equivalents ​ 96 ​ 183 ​ 124 ​ 189 ​ Weighted average common shares outstanding - Diluted ​ 10,888 ​ 11,026 ​ 10,962 ​ 11,011 ​ Net income per common share - Basic ​ $ 0.48 ​ $ 0.54 ​ $ 0.97 ​ $ 1.07 ​ Net income per common share - Diluted ​ 0.47 ​ 0.53 ​ 0.96 ​ 1.05 ​ Stock options and common stock excluded from the income per share calculation as their effect would have been anti-dilutive ​ 450 ​ 251 ​ 403 ​ 230 ​ ​

Income Taxes

Income Taxes6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income TaxesNOTE 4. Income Taxes The Company follows FASB ASC Topic 740, “Income Taxes,” On July 1, 2018, New Jersey’s Assembly Bill 4202 was signed into law. The bill, effective January 1, 2018, imposes a temporary surtax on corporations earning New Jersey allocated taxable income in excess of $1 million at a rate of 2.5 percent for tax years beginning on or after January 1, 2018, through December 31, 2019, and at 1.5 percent for tax years beginning on or after January 1, 2020, through December 31, 2021. In addition, New Jersey adopted mandatory unitary combined reporting for its Corporation Business Tax, which became effective for periods on or after January 1, 2019. For the quarter ended June 30, 2020, the Company reported income tax expense of $1.5 million for an effective tax rate of 22.3 percent, compared to an income tax expense of $1.6 million and an effective tax rate of 22.0 percent for the prior year’s quarter. For the six months ended June 30, 2020, the Company reported income tax expense of $3.1 million for an effective tax rate of 22.6 percent, compared to an income tax expense of $3.2 million and an effective tax rate of 21.5 percent for the six months ended June 30, 2019. The Company did not recognize or accrue any interest or penalties related to income taxes during the three or six months ended June 30, 2020 or 2019. The Company did not have an accrual for uncertain tax positions as of June 30, 2020 or December 31, 2019, as deductions taken and benefits accrued are based on widely understood administrative practices and procedures and are based on clear and unambiguous tax law. Tax returns for all years 2015 and thereafter are subject to future examination by tax authorities.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)6 Months Ended
Jun. 30, 2020
Stockholders' Equity Note [Abstract]
Other Comprehensive Income (Loss)NOTE 5. Other Comprehensive Income (Loss) The following tables show the changes in other comprehensive income (loss) for the three and six months ended June 30, 2020 and 2019, net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, 2020 ​ ​ Adjustments Net unrealized Accumulated ​ Net unrealized related to losses other ​ gains on defined benefit from cash flow comprehensive (In thousands) ​ securities plan hedges (loss) income Balance, beginning of period (1) $ 319 $ (280) $ (836) $ (797) Other comprehensive income (loss) before reclassifications ​ 362 ​ — ​ (241) ​ 121 Less amounts reclassified from accumulated other comprehensive income (loss) ​ 62 ​ (15) ​ — ​ 47 Period change ​ 300 ​ 15 ​ (241) ​ 74 Balance, end of period (1) ​ $ 619 ​ $ (265) ​ $ (1,077) ​ $ (723) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, 2019 ​ ​ Adjustments Net unrealized Accumulated ​ Net unrealized related to gains (losses) other ​ (losses) gains on defined benefit from cash flow comprehensive (In thousands) ​ securities plan hedges (loss) income Balance, beginning of period (1) $ (560) $ (340) $ 728 $ (172) Other comprehensive income (loss) before reclassifications ​ 631 ​ — ​ (415) ​ 216 Less amounts reclassified from accumulated other comprehensive income (loss) ​ 77 ​ (15) ​ — ​ 62 Period change ​ 554 ​ 15 ​ (415) ​ 154 Balance, end of period (1) ​ $ (6) ​ $ (325) ​ $ 313 ​ $ (18) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2020 ​ ​ Adjustments Net unrealized Accumulated ​ Net unrealized related to gains (losses) other ​ gains (losses) on defined benefit from cash flow comprehensive (In thousands) ​ securities plan hedges income (loss) Balance, beginning of period (1) $ 316 $ (295) $ 168 $ 189 Other comprehensive income (loss) before reclassifications ​ 231 ​ — ​ (1,245) ​ (1,014) Less amounts reclassified from accumulated other comprehensive loss ​ (72) ​ (30) ​ — ​ (102) Period change ​ 303 ​ 30 ​ (1,245) ​ (912) Balance, end of period (1) ​ $ 619 ​ $ (265) ​ $ (1,077) ​ $ (723) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2019 ​ ​ Adjustments Net unrealized Accumulated ​ Net unrealized related to gains (losses) other ​ (losses) gains on defined benefit from cash flow comprehensive (In thousands) ​ securities plan hedges (loss) income Balance, beginning of period (1) $ (721) $ (431) $ 1,030 $ (122) Other comprehensive income (loss) before reclassifications ​ 871 ​ — ​ (717) ​ 154 Less amounts reclassified from accumulated other comprehensive income (loss) ​ 156 ​ (106) ​ — ​ 50 Period change ​ 715 ​ 106 ​ (717) ​ 104 Balance, end of period (1) ​ $ (6) ​ $ (325) ​ $ 313 ​ $ (18) ​ (1) AOCI does not reflect the net reclassification of $35 thousand to Retained Earnings as a result of ASU 2016-01, "Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities" & ASU 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". ​

Fair Value

Fair Value6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair ValueNOTE 6. Fair Value Fair Value Measurement The Company follows FASB ASC Topic 820, “Fair Value Measurement and Disclosures,” Level 1 Inputs ● Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. ● Generally, this includes debt and equity securities and derivative contracts that are traded in an active exchange market (i.e. New York Stock Exchange), as well as certain U.S. Treasury, U.S. Government and sponsored entity agency mortgage-backed securities that are highly liquid and are actively traded in over-the-counter markets. ​ Level 2 Inputs ● Quoted prices for similar assets or liabilities in active markets. ● Quoted prices for identical or similar assets or liabilities in inactive markets. ● Inputs other than quoted prices that are observable, either directly or indirectly, for the term of the asset or liability (i.e., interest rates, yield curves, credit risks, prepayment speeds or volatilities) or “market corroborated inputs.” ● Generally, this includes U.S. Government and sponsored entity mortgage-backed securities, corporate debt securities and derivative contracts. Level 3 Inputs ● Prices or valuation techniques that require inputs that are both unobservable (i.e. supported by little or no market activity) and that are significant to the fair value of the assets or liabilities. ● These assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. ​ Fair Value on a Recurring Basis The following is a description of the valuation methodologies used for instruments measured at fair value on a recurring basis: Debt Securities Available for Sale The fair value of available for sale ("AFS") debt securities is the market value based on quoted market prices, when available, or market prices provided by recognized broker dealers (Level 1). If listed prices or quotes are not available, fair value is based upon quoted market prices for similar or identical assets or other observable inputs (Level 2) or externally developed models that use unobservable inputs due to limited or no market activity of the instrument (Level 3). As of June 30, 2020, the fair value of the Company’s AFS debt securities portfolio was $53.1 million. Approximately 42 percent of the portfolio was made up of residential mortgage-backed securities, which had a fair value of $22.4 million at June 30, 2020. Approximately $22.1 million of the residential mortgage-backed securities are guaranteed by the Government National Mortgage Association ("GNMA"), the Federal National Mortgage Association ("FNMA") or the Federal Home Loan Mortgage Corporation ("FHLMC"). The underlying loans for these securities are residential mortgages that are geographically dispersed throughout the United States. Most of the Company’s AFS debt securities were classified as Level 2 assets at June 30, 2020. The valuation of AFS debt securities using Level 2 inputs was primarily determined using the market approach, which uses quoted prices for similar assets or liabilities in active markets and all other relevant information. It includes model pricing, defined as valuing securities based upon their relationship with other benchmark securities. Included in the Company’s AFS debt securities are three corporate bonds which are classified as Level 3 assets at June 30, 2020, which were previously classified as Level 2 assets. The valuation of these corporate bonds is determined using broker quotes, third-party vendor prices, or other valuation techniques, such as discounted cash flow techniques. Market inputs used in the other valuation techniques or underlying third-party vendor prices or broker quotes include benchmark and government bond yield curves, credit spreads, and trade execution data. The following table presents a reconciliation of the Level 3 available for sale debt securities measured at fair value on a recurring basis for the three and six months ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) 2020 2019 Balance at beginning of period (1) $ 6,238 $ — Purchases/additions ​ ​ — ​ ​ — Sales/reductions ​ — ​ — Realized ​ — ​ — Unrealized ​ 5 ​ — Balance at end of period ​ $ 6,243 ​ $ — ​ ​ ​ ​ ​ ​ ​ (1) Includes AFS debt securities classified as Level 2 at December 31, 2019, which were transferred to Level 3 during the period ended June 30, 2020. ​ Equity Securities with Readily Determinable Fair Values The fair value of equity securities is the market value based on quoted market prices, when available, or market prices provided by recognized broker dealers (Level 1). If listed prices or quotes are not available, fair value is based upon quoted market prices for similar or identical assets or other observable inputs (Level 2) or externally developed models that use unobservable inputs due to limited or no market activity of the instrument (Level 3). As of June 30, 2020, the fair value of the Company’s equity securities portfolio was $1.8 million. All of the Company’s equity securities were classified as Level 2 assets at June 30, 2020. The valuation of equity securities using Level 2 inputs was primarily determined using the market approach, which uses quoted prices for similar assets or liabilities in active markets and all other relevant information. There were no changes in the inputs or methodologies used to determine fair value during the period ended June 30, 2020, as compared to the periods ended December 31, 2019 and June 30, 2019. Loans Held for Sale Fair Value for loans held for sale is derived from quoted market prices for similar loans, in which case they are characterized as Level 2 assets in the fair value hierarchy. Interest Rate Swap Agreements The fair value of interest rate swap agreements is the market value based on quoted market prices, when available, or market prices provided by recognized broker dealers (Level 1). If listed prices or quotes are not available, fair value is based upon quoted market prices for similar or identical assets or other observable inputs (Level 2) or externally developed models that use unobservable inputs due to limited or no market activity of the instrument (Level 3). The Company’s derivative instruments are classified as Level 2 assets, as the readily observable market inputs to these models are validated to external sources, such as industry pricing services, or are corroborated through recent trades, dealer quotes, yield curves, implied volatility or other market-related data. The tables below present the balances of assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2020 Using ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ Assets/Liabilities ​ Active Markets ​ Significant Other ​ Significant ​ ​ Measured at Fair ​ for Identical ​ Observable ​ Unobservable (In thousands) Value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Measured on a recurring basis: ​ ​ ​ ​ Assets: ​ ​ ​ ​ Debt securities available for sale: ​ ​ ​ ​ U.S. Government sponsored entities ​ $ 2,772 ​ $ — ​ $ 2,772 ​ $ — State and political subdivisions ​ 3,334 ​ — ​ 3,334 ​ — Residential mortgage-backed securities ​ 22,373 ​ — ​ 22,373 ​ — Corporate and other securities ​ 24,623 ​ — ​ 18,380 ​ 6,243 Total debt securities available for sale ​ $ 53,102 ​ $ — ​ $ 46,859 ​ $ 6,243 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities with readily determinable fair values ​ 1,786 ​ — ​ 1,786 ​ — Total equity securities ​ $ 1,786 ​ $ — ​ $ 1,786 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ 11,707 ​ — ​ 11,707 ​ — Total loans held for sale ​ $ 11,707 ​ ​ — ​ $ 11,707 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swap agreements ​ (1,512) ​ — ​ (1,512) ​ — Total swap agreements ​ $ (1,512) ​ $ — ​ $ (1,512) ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value Measurements at December 31, 2019 Using ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ Assets/Liabilities ​ Active Markets ​ Significant Other ​ Significant ​ ​ Measured at Fair ​ for Identical ​ Observable ​ Unobservable (In thousands) Value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Measured on a recurring basis: ​ ​ ​ ​ Assets: ​ ​ ​ ​ Debt securities available for sale: ​ ​ ​ ​ U.S. Government sponsored entities ​ $ 5,753 ​ $ — ​ $ 5,753 ​ $ — State and political subdivisions ​ 5,154 ​ — ​ 5,154 ​ — Residential mortgage-backed securities ​ 27,964 ​ — ​ 27,964 ​ — Corporate and other securities ​ 25,404 ​ — ​ 25,404 ​ — Total debt securities available for sale ​ $ 64,275 ​ $ — ​ $ 64,275 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities with readily determinable fair values ​ 2,289 ​ — ​ 2,289 ​ — Total equity securities ​ $ 2,289 ​ $ — ​ $ 2,289 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ 14,862 ​ — ​ 14,862 ​ — Total loans held for sale ​ $ 14,862 ​ ​ — ​ $ 14,862 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swap agreements ​ 238 ​ — ​ 238 ​ — Total swap agreements ​ $ 238 ​ $ — ​ $ 238 ​ $ — ​ Fair Value on a Nonrecurring Basis The following tables present the assets and liabilities subject to fair value adjustments (impairment) on a non-recurring basis carried on the balance sheet by caption and by level within the hierarchy (as described above): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2020 Using ​ ​ ​ ​ ​ Quoted Prices ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Other ​ Significant ​ ​ ​ ​ ​ Assets/Liabilities ​ Markets for ​ Observable ​ Unobservable ​ Net Provision ​ ​ Measured at Fair ​ Identical Assets ​ Inputs ​ Inputs ​ During (In thousands) Value (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ OREO ​ $ 711 ​ $ — ​ $ — ​ $ 711 ​ $ (200) Impaired collateral-dependent loans ​ 9,004 ​ — ​ — ​ 9,004 ​ ​ 432 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2019 Using ​ ​ ​ ​ ​ Quoted Prices ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Other ​ Significant ​ ​ ​ ​ ​ Assets/Liabilities ​ Markets for ​ Observable ​ Unobservable ​ Net Credit ​ ​ Measured at Fair ​ Identical Assets ​ Inputs ​ Inputs ​ During (In thousands) Value (Level 1) (Level 2) (Level 3) Period Financial assets: ​ ​ ​ ​ ​ OREO ​ $ 1,723 ​ $ — ​ $ — ​ $ 1,723 ​ $ (231) Impaired collateral-dependent loans ​ 1,925 ​ — ​ — ​ 1,925 ​ (253) ​ Certain assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The following is a description of the valuation methodologies used for instruments measured at fair value on a nonrecurring basis: Appraisal Policy All appraisals must be performed in accordance with the Uniform Standards of Professional Appraisal Practice ("USPAP"). Appraisals are certified to the Company and performed by appraisers on the Company’s approved list of appraisers. Evaluations are completed by a person independent of Company management. The content of the appraisal depends on the complexity of the property. Appraisals are completed on a “retail value” and an “as is value.” OREO The fair value of OREO is determined using third party appraisals, which may be discounted based on management’s review and changes in market conditions (Level 3 Inputs). Impaired Collateral-Dependent Loans The fair value of impaired collateral-dependent loans is derived in accordance with FASB ASC Topic 310, “Receivables.” The valuation allowance for impaired loans is included in the allowance for loan losses in the consolidated balance sheets. At June 30, 2020, the valuation allowance for impaired loans was $846 thousand, an increase of $432 thousand from $414 thousand at December 31, 2019. Fair Value of Financial Instruments FASB ASC Topic 825, “Financial Instruments,” Cash and Cash Equivalents For these short-term instruments, the carrying value is a reasonable estimate of fair value. Securities The fair value of securities is based upon quoted market prices for similar or identical assets or other observable inputs (Level 2) or externally developed models that use unobservable inputs due to limited or no market activity of the instrument (Level 3). SBA Loans Held for Sale The fair value of SBA loans held for sale is estimated by using a market approach that includes significant other observable inputs. Loans The fair value of loans is estimated by discounting the future cash flows using current market rates that reflect the interest rate risk inherent in the loan, except for previously discussed impaired loans. FHLB Stock Federal Home Loan Bank stock is carried at cost. Carrying value approximates fair value based on the redemption provisions of the issues. Servicing Assets Servicing assets do not trade in an active, open market with readily observable prices. The Company estimates the fair value of servicing assets using discounted cash flow models incorporating numerous assumptions from the perspective of a market participant including market discount rates and prepayment speeds. Accrued Interest The carrying amounts of accrued interest approximate fair value. Deposit Liabilities The fair value of demand deposits and savings accounts is the amount payable on demand at the reporting date (i.e. carrying value). The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using current market rates. Borrowed Funds and Subordinated Debentures The fair value of borrowings is estimated by discounting the projected future cash flows using current market rates. Standby Letters of Credit At June 30, 2020, the Bank had standby letters of credit outstanding of $4.5 million, compared to $4.8 million at December 31, 2019. The fair value of these commitments is nominal. The table below presents the carrying amount and estimated fair values of the Company’s financial instruments presented as of June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ ​ Fair value ​ Carrying ​ Estimated ​ Carrying ​ Estimated (In thousands) level amount fair value amount fair value Financial assets: ​ ​ ​ ​ Cash and cash equivalents Level 1 ​ $ 186,683 ​ $ 186,683 ​ $ 158,016 ​ $ 158,016 Securities (1) Level 2 ​ 54,888 ​ 54,888 ​ 66,564 ​ 66,564 SBA loans held for sale Level 2 ​ 10,602 ​ 11,707 ​ 13,529 ​ 14,862 Loans, net of allowance for loan losses (2) Level 2 ​ 1,561,671 ​ 1,581,341 ​ 1,395,634 ​ 1,398,997 FHLB stock Level 2 ​ 11,629 ​ 11,629 ​ 14,184 ​ 14,184 Servicing assets Level 3 ​ 2,138 ​ 2,138 ​ 2,026 ​ 2,026 Accrued interest receivable Level 2 ​ 11,039 ​ 11,039 ​ 6,984 ​ 6,984 OREO Level 3 ​ 711 ​ ​ 711 ​ ​ 1,723 ​ 1,723 Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits Level 2 ​ 1,483,457 ​ 1,489,973 ​ 1,250,114 ​ 1,252,082 Borrowed funds and subordinated debentures Level 2 ​ 233,310 ​ 235,645 ​ 293,310 ​ 292,766 Accrued interest payable Level 2 ​ 228 ​ 228 ​ 455 ​ 455 ​ (1) Includes corporate securities that are considered Level 3 and reported separately in the table under the “Fair Value on a Recurring Basis” heading. These securities had book values of $6.2 million and market values of $6.2 million. (2) Includes collateral-dependent impaired loans that are considered Level 3 and reported separately in the tables under the “Fair Value on a Nonrecurring Basis” heading. Collateral-dependent impaired loans, net of specific reserves totaled $9.0 million and $1.9 million at June 30, 2020 and December 31, 2019, respectively. Limitations Fair value estimates are made at a point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on- and off-statement of condition financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. In addition, the tax ramifications related to the effect of fair value estimates have not been considered in the above estimates.

Securities

Securities6 Months Ended
Jun. 30, 2020
Marketable Securities [Abstract]
SecuritiesNOTE 7. Securities This table provides the major components of debt securities available for sale ("AFS") and equity securities with readily determinable fair values ("equity securities") at amortized cost and estimated fair value at June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ ​ ​ Gross Gross ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ Amortized ​ unrealized ​ unrealized ​ Estimated ​ Amortized ​ unrealized ​ unrealized ​ Estimated (In thousands) ​ cost ​ gains ​ losses ​ fair value ​ cost ​ gains ​ losses ​ fair value Available for sale: ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government sponsored entities ​ $ 2,749 ​ $ 23 ​ $ — ​ $ 2,772 ​ $ 5,751 ​ $ 4 ​ $ (2) ​ $ 5,753 State and political subdivisions ​ 3,320 ​ 24 ​ (10) ​ 3,334 ​ 4,992 ​ 174 ​ (12) ​ 5,154 Residential mortgage-backed securities ​ 21,463 ​ 916 ​ (6) ​ 22,373 ​ 27,698 ​ 372 ​ (106) ​ 27,964 Corporate and other securities ​ 24,756 ​ 174 ​ (307) ​ 24,623 ​ 25,442 ​ 230 ​ (268) ​ 25,404 Total debt securities available for sale ​ $ 52,288 ​ $ 1,137 ​ $ (323) ​ $ 53,102 ​ $ 63,883 ​ $ 780 ​ $ (388) ​ $ 64,275 Equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total equity securities ​ $ 2,112 ​ $ — ​ $ (326) ​ $ 1,786 ​ $ 2,218 ​ $ 142 ​ $ (71) ​ $ 2,289 ​ This table provides the remaining contractual maturities and yields of securities within the investment portfolios. The carrying value of securities at June 30, 2020 is distributed by contractual maturity. Mortgage-backed securities and other securities, which may have principal prepayment provisions, are distributed based on contractual maturity. Expected maturities will differ materially from contractual maturities as a result of early prepayments and calls. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ After one through ​ After five through ​ ​ ​ ​ ​ ​ Total carrying ​ ​ Within one year ​ five years ​ ten years ​ After ten years ​ value (In thousands, except percentages) Amount Yield Amount Yield Amount Yield Amount Yield Amount Yield Available for sale at fair value: ​ ​ ​ ​ ​ ​ U.S. Government sponsored entities ​ $ 2,772 1.57 % $ — — % $ — — % $ — — % $ 2,772 1.57 % State and political subdivisions ​ 1,146 1.48 ​ 884 3.29 ​ 502 5.06 ​ 802 2.74 ​ 3,334 2.80 ​ Residential mortgage-backed securities ​ 1 4.48 ​ 278 2.37 ​ 2,202 2.48 ​ 19,892 2.63 ​ 22,373 2.61 ​ Corporate and other securities ​ — — ​ 1,611 3.00 ​ 17,769 4.48 ​ 5,243 4.38 ​ 24,623 4.36 ​ Total debt securities available for sale ​ $ 3,919 1.54 % $ 2,773 3.03 % $ 20,473 4.28 % $ 25,937 2.99 % $ 53,102 3.38 % Equity Securities at fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ Total equity securities ​ $ — — % $ — — % $ — — % $ 1,786 2.58 % $ 1,786 2.58 % ​ The fair value of securities with unrealized losses by length of time that the individual securities have been in a continuous unrealized loss position at June 30, 2020 and December 31, 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ ​ ​ Less than 12 months ​ 12 months and greater ​ Total ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ number in a ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized (In thousands, except number in a loss position) ​ loss position ​ fair value ​ loss ​ fair value ​ loss ​ fair value ​ loss Available for sale: ​ ​ ​ ​ ​ ​ State and political subdivisions 1 ​ $ — ​ $ — ​ $ 802 ​ $ (10) ​ $ 802 ​ $ (10) Residential mortgage-backed securities 3 ​ 996 ​ (6) ​ 402 ​ — ​ 1,398 ​ (6) Corporate and other securities 8 ​ 6,277 ​ (76) ​ 3,759 ​ (231) ​ 10,036 ​ (307) Total temporarily impaired securities 12 ​ $ 7,273 ​ $ (82) ​ $ 4,963 ​ $ (241) ​ $ 12,236 ​ $ (323) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ Less than 12 months ​ 12 months and greater ​ Total ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ number in a ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized (In thousands, except number in a loss position) ​ loss position ​ fair value ​ loss ​ fair value ​ loss ​ fair value ​ loss Available for sale: ​ ​ ​ ​ ​ ​ U.S. Government sponsored entities 1 ​ $ — ​ $ — ​ $ 1,995 ​ $ (2) ​ $ 1,995 ​ $ (2) State and political subdivisions 1 ​ — ​ — ​ 1,013 ​ (12) ​ 1,013 ​ (12) Residential mortgage-backed securities 10 ​ 3,707 ​ (27) ​ 4,996 ​ (79) ​ 8,703 ​ (106) Corporate and other securities 6 ​ 3,366 ​ (13) ​ 3,735 ​ (255) ​ 7,101 ​ (268) Total temporarily impaired securities 18 ​ $ 7,073 ​ $ (40) ​ $ 11,739 ​ $ (348) ​ $ 18,812 ​ $ (388) ​ Unrealized Losses The unrealized losses in each of the categories presented in the tables above are discussed in the paragraphs that follow: U.S. government sponsored entities and state and political subdivision securities: Residential and commercial mortgage-backed securities: Corporate and other securities: Realized Gains and Losses Gross realized gains and losses on securities for the three and six months ended June 30, 2020 and 2019 are detailed in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) 2020 2019 ​ 2020 2019 ​ Available for sale: ​ ​ ​ ​ ​ ​ Realized gains ​ $ 5 ​ $ — ​ $ 301 ​ $ — ​ Realized losses ​ — ​ — ​ — ​ — ​ Total debt securities available for sale ​ 5 ​ — ​ 301 ​ — ​ Net gains on sales of securities ​ $ 5 ​ $ — ​ $ 301 ​ $ — ​ ​ The net realized gains are included in noninterest income in the Consolidated Statements of Income as net security gains. There were $5 thousand and $301 thousand of gross realized gains during the three and six months ended June 30, 2020, compared to no gross realized gains during the same period a year ago. There were no gross realized losses for the three and six months ended June 30, 2020, or 2019. ● For the six months ended June 30, 2020, the net gain is attributed to the sale of one corporate bond with a book value of $2.2 million and resulting gains of $61 thousand, three mortgage-backed securities with a total book value of $2.8 million and resulting gains of $57 thousand, one tax-exempt municipal security with a book value of $381 thousand and resulting gains of $27 thousand, one taxable municipal security with a book value of $456 thousand and resulting gains of $140 thousand, and the call of three tax-exempt municipal securities with a total book value of $3.8 million and resulting gains of $16 thousand. Equity Securities Included in this category are Community Reinvestment Act ("CRA") investments and the Company’s current other equity holdings of financial institutions. Equity securities are defined to include (a) preferred, common and other ownership interests in entities including partnerships, joint ventures and limited liability companies and (b) rights to acquire or dispose of ownership interest in entities at fixed or determinable prices. The Company follows ASU 2016-01, "Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities," The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three and six months ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) 2020 2019 2020 2019 ​ Net gains (losses) recognized during the period on equity securities ​ $ 74 ​ $ 98 ​ $ (397) ​ $ 198 ​ Net gains recognized during the period on equity securities sold during the period ​ — ​ — ​ 5 ​ — ​ Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date ​ $ 74 ​ $ 98 ​ $ (392) ​ $ 198 ​ ​ Pledged Securities Securities with a carrying value of $3.1 million and $4.0 million at June 30, 2020 and December 31, 2019, respectively, were pledged to secure deposits, secure other borrowings and for other purposes required or permitted by law.

Loans

Loans6 Months Ended
Jun. 30, 2020
Loans and Leases Receivable Disclosure [Abstract]
LoansNOTE 8. Loans The following table sets forth the classification of loans by class, including unearned fees, deferred costs and excluding the allowance for loan losses as of June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) June 30, 2020 December 31, 2019 SBA loans held for investment ​ $ 36,966 ​ $ 35,767 SBA PPP loans ​ ​ 136,039 ​ ​ — Commercial loans ​ ​ SBA 504 loans ​ 23,299 ​ 26,726 Commercial other ​ 121,961 ​ 112,014 Commercial real estate ​ 586,332 ​ 578,643 Commercial real estate construction ​ 61,160 ​ 47,649 Residential mortgage loans ​ 469,987 ​ 467,706 Consumer loans ​ ​ ​ ​ Home equity ​ 67,592 ​ 69,589 Consumer other ​ 78,569 ​ 73,935 Total loans held for investment ​ $ 1,581,905 ​ $ 1,412,029 SBA loans held for sale ​ 10,602 ​ 13,529 Total loans ​ $ 1,592,507 ​ $ 1,425,558 ​ Loans are made to individuals as well as commercial entities. Specific loan terms vary as to interest rate, repayment, and collateral requirements based on the type of loan requested and the credit worthiness of the prospective borrower. Credit risk tends to be geographically concentrated in that a majority of the loan customers are located in the markets serviced by the Bank. Loan performance may be adversely affected by factors impacting the general economy or conditions specific to the real estate market such as geographic location and/or property type. A description of the Company’s different loan segments follows: SBA Loans: On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was signed into law. It contains substantial tax and spending provisions intended to address the impact of the COVID-19 pandemic. The CARES Act includes a range of other provisions designed to support the U.S. economy and mitigate the impact of COVID-19 on financial institutions and their customers, including through the authorization of various relief programs and measures that the U.S. Department of the Treasury, the Small Business Administration, the Federal Reserve Board (“FRB”) and other federal banking agencies have implemented or may implement. The CARES Act provides assistance to small businesses through the establishment of the SBA Paycheck Protection Program ("PPP"). The PPP generally provides small businesses with funds to pay up to 24 weeks of payroll costs, including certain benefits. The funds are provided in the form of loans that may be fully or partially forgiven when used for payroll costs, interest on mortgages, rent, and utilities. The payments on these loans will be deferred for up to six months. Loans made after June 5, 2020, mature in five years, and loans made prior to June 5, 2020, mature in two years but can be extended to five years if the lender agrees. Forgiveness of the PPP loans is based on the borrower maintaining or quickly rehiring employees and maintaining salary levels. Most small businesses with 500 or fewer employees are eligible. Applications for the PPP loans started on April 3, 2020 and was extended through August 8, 2020. As an existing SBA 7(a) lender, the Company opted to participate in the program. Commercial Loans: Residential Mortgage and Consumer Loans: Inherent in the lending function is credit risk, which is the possibility a borrower may not perform in accordance with the contractual terms of their loan. A borrower’s inability to pay their obligations according to the contractual terms can create the risk of past due loans and, ultimately, credit losses, especially on collateral deficient loans. The Company minimizes its credit risk by loan diversification and adhering to credit administration policies and procedures. Due diligence on loans begins when we initiate contact regarding a loan with a borrower. Documentation, including a borrower’s credit history, materials establishing the value and liquidity of potential collateral, the purpose of the loan, the source of funds for repayment of the loan, and other factors, are analyzed before a loan is submitted for approval. The loan portfolio is then subject to on-going internal reviews for credit quality which in part is derived from ongoing collection and review of borrowers’ financial information, as well as independent credit reviews by an outside firm. The Company’s extension of credit is governed by the Credit Risk Policy which was established to control the quality of the Company’s loans. This policy and the underlying procedures are reviewed and approved by the Board of Directors on a regular basis. Credit Ratings For SBA 7(a), SBA 504 and commercial loans, management uses internally assigned risk ratings as the best indicator of credit quality. A loan’s internal risk rating is updated at least annually and more frequently if circumstances warrant a change in risk rating. The Company uses a 1 through 10 loan grading system that follows regulatory accepted definitions. Pass: Special Mention: Substandard: A risk rating of 9 is used for borrowers that have all the weaknesses inherent in a loan with a risk rating of 8, with the added characteristic that the weaknesses make collection of debt in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Serious problems exist to the point where partial loss of principal is likely. The possibility of loss is extremely high, but because of certain important, reasonably specific pending factors that may work to strengthen the assets, the loans’ classification as estimated losses is deferred until a more exact status may be determined. Pending factors include proposed merger, acquisition, or liquidation procedures; capital injection; perfecting liens on additional collateral; and refinancing plans. Partial charge-offs are likely. Loss: For residential mortgage and consumer loans, management uses performing versus nonperforming as the best indicator of credit quality. Nonperforming loans consist of loans that are not accruing interest (nonaccrual loans) as a result of principal or interest being in default for a period of 90 days or more or when the ability to collect principal and interest according to the contractual terms is in doubt. These credit quality indicators are updated on an ongoing basis, as a loan is placed on nonaccrual status as soon as management believes there is sufficient doubt as to the ultimate ability to collect interest on a loan. At June 30, 2020, the Company owned $648 thousand in residential consumer properties that were included in OREO in the Consolidated Balance Sheets, compared to $1.7 million at December 31, 2019. Additionally, there were $6.4 million of residential consumer loans in the process of foreclosure at June 30, 2020, compared to $3.6 million at December 31, 2019. The tables below detail the Company’s loan portfolio by class according to their credit quality indicators discussed in the paragraphs above as of June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ SBA & Commercial loans - Internal risk ratings (In thousands) Pass Special mention Substandard Total SBA loans held for investment ​ $ 35,691 ​ $ — ​ $ 1,275 ​ $ 36,966 SBA PPP loans ​ ​ 136,007 ​ ​ — ​ ​ 32 ​ ​ 136,039 Commercial loans ​ ​ ​ ​ SBA 504 loans ​ 23,275 ​ — ​ 24 ​ 23,299 Commercial other ​ 117,793 ​ 2,500 ​ 1,668 ​ 121,961 Commercial real estate ​ 568,819 ​ 46 ​ 17,467 ​ 586,332 Commercial real estate construction ​ 61,160 ​ — ​ — ​ 61,160 Total commercial loans ​ 771,047 ​ 2,546 ​ 19,159 ​ 792,752 Total SBA and commercial loans ​ $ 942,745 ​ $ 2,546 ​ $ 20,466 ​ $ 965,757 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage & Consumer loans - Performing/Nonperforming (In thousands) ​ ​ Performing Nonperforming Total Residential mortgage loans ​ ​ ​ ​ $ 463,795 ​ $ 6,192 ​ $ 469,987 Consumer loans ​ ​ ​ ​ ​ ​ ​ Home equity ​ ​ ​ ​ 67,087 ​ 505 ​ 67,592 Consumer other ​ ​ ​ ​ 78,569 ​ — ​ 78,569 Total consumer loans ​ ​ ​ ​ 145,656 ​ 505 ​ 146,161 Total residential mortgage and consumer loans ​ ​ ​ ​ $ 609,451 ​ $ 6,697 ​ $ 616,148 ​ The tables below detail the Company’s loan portfolio by class according to their credit quality indicators discussed in the paragraphs above as of December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ SBA & Commercial loans - Internal risk ratings (In thousands) Pass Special mention Substandard Total SBA loans held for investment ​ $ 34,202 ​ $ 1,115 ​ $ 450 ​ $ 35,767 Commercial loans ​ ​ ​ ​ SBA 504 loans ​ 24,878 ​ 1,808 ​ 40 ​ 26,726 Commercial other ​ 107,220 ​ 3,361 ​ 1,433 ​ 112,014 Commercial real estate ​ 576,326 ​ 758 ​ 1,559 ​ 578,643 Commercial real estate construction ​ 47,649 ​ — ​ — ​ 47,649 Total commercial loans ​ 756,073 ​ 5,927 ​ 3,032 ​ 765,032 Total SBA and commercial loans ​ $ 790,275 ​ $ 7,042 ​ $ 3,482 ​ $ 800,799 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage & Consumer loans - Performing/Nonperforming (In thousands) ​ ​ Performing ​ Nonperforming ​ Total Residential mortgage loans ​ ​ $ 463,770 ​ $ 3,936 ​ $ 467,706 Consumer loans ​ ​ ​ ​ Home equity ​ ​ 69,589 ​ — ​ 69,589 Consumer other ​ ​ 73,915 ​ 20 ​ 73,935 Total consumer loans ​ ​ 143,504 ​ 20 ​ 143,524 Total residential mortgage and consumer loans ​ ​ $ 607,274 ​ $ 3,956 ​ $ 611,230 ​ Nonperforming and Past Due Loans Nonperforming loans consist of loans that are not accruing interest (nonaccrual loans) as a result of principal or interest being in default for a period of 90 days or more or when the ability to collect principal and interest according to the contractual terms is in doubt. Loans past due 90 days or more and still accruing interest are not included in nonperforming loans and generally represent loans that are well collateralized and in the process of collection. The risk of loss is difficult to quantify and is subject to fluctuations in collateral values, general economic conditions and other factors. The Company values its collateral through the use of appraisals, broker price opinions, and knowledge of its local market. The following tables set forth an aging analysis of past due and nonaccrual loans as of June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ ​ ​ ​ 90+ days ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 ‑ 59 days ​ 60 ‑ 89 days ​ and still ​ Nonaccrual ​ Total past ​ ​ ​ ​ ​ ​ (In thousands) ​ past due ​ past due ​ accruing ​ (1) ​ due ​ Current ​ Total loans SBA loans held for investment ​ $ 828 ​ $ 606 ​ $ — ​ $ 2,331 ​ $ 3,765 ​ $ 33,201 ​ $ 36,966 SBA PPP loans ​ ​ — ​ ​ — ​ ​ — ​ ​ 32 ​ ​ 32 ​ ​ 136,007 ​ ​ 136,039 Commercial loans ​ ​ ​ ​ ​ ​ ​ ​ SBA 504 loans ​ — ​ — ​ — ​ — ​ — ​ 23,299 ​ 23,299 Commercial other ​ — ​ 71 ​ — ​ 10 ​ 81 ​ 121,880 ​ 121,961 Commercial real estate ​ — ​ — ​ — ​ 403 ​ 403 ​ 585,929 ​ 586,332 Commercial real estate construction ​ — ​ — ​ — ​ — ​ — ​ 61,160 ​ 61,160 Residential mortgage loans ​ 2,958 ​ — ​ — ​ 6,192 ​ 9,150 ​ 460,837 ​ 469,987 Consumer loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ 170 ​ — ​ — ​ 505 ​ 675 ​ 66,917 ​ 67,592 Consumer other ​ — ​ — ​ — ​ — ​ — ​ 78,569 ​ 78,569 Total loans held for investment ​ ​ 3,956 ​ ​ 677 ​ ​ — ​ ​ 9,473 ​ ​ 14,106 ​ ​ 1,567,799 ​ ​ 1,581,905 SBA loans held for sale ​ — ​ — ​ — ​ — ​ — ​ 10,602 ​ 10,602 Total loans ​ $ 3,956 ​ $ 677 ​ $ — ​ $ 9,473 ​ $ 14,106 ​ $ 1,578,401 ​ $ 1,592,507 ​ (1) At June 30, 2020, nonaccrual loans included $307 thousand of loans guaranteed by the SBA. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ 90+ days ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 ‑ 59 days ​ 60 ‑ 89 days ​ and still ​ Nonaccrual ​ Total past ​ ​ ​ ​ ​ ​ (In thousands) ​ past due ​ past due ​ accruing ​ (1) ​ due ​ Current ​ Total loans SBA loans held for investment ​ $ 1,048 ​ $ — ​ $ — ​ $ 1,164 ​ $ 2,212 ​ $ 33,555 ​ $ 35,767 Commercial loans ​ ​ ​ ​ ​ ​ ​ SBA 504 loans ​ — ​ 1,808 ​ — ​ — ​ 1,808 ​ 24,918 ​ 26,726 Commercial other ​ 71 ​ — ​ — ​ 316 ​ 387 ​ 111,627 ​ 112,014 Commercial real estate ​ 215 ​ — ​ — ​ 213 ​ 428 ​ 578,215 ​ 578,643 Commercial real estate construction ​ — ​ — ​ — ​ — ​ — ​ 47,649 ​ 47,649 Residential mortgage loans ​ 4,383 ​ 1,676 ​ 930 ​ 3,936 ​ 10,925 ​ 456,781 ​ 467,706 Consumer loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ 1,446 ​ 178 ​ — ​ — ​ 1,624 ​ 67,965 ​ 69,589 Consumer other ​ — ​ 113 ​ — ​ 20 ​ 133 ​ 73,802 ​ 73,935 Total loans held for investment ​ ​ 7,163 ​ ​ 3,775 ​ ​ 930 ​ ​ 5,649 ​ ​ 17,517 ​ ​ 1,394,512 ​ ​ 1,412,029 SBA loans held for sale ​ — ​ — ​ — ​ — ​ — ​ 13,529 ​ 13,529 Total loans ​ $ 7,163 ​ $ 3,775 ​ $ 930 ​ $ 5,649 ​ $ 17,517 ​ $ 1,408,041 ​ $ 1,425,558 ​ (1) At December 31, 2019, nonaccrual loans included $59 thousand of loans guaranteed by the SBA. Impaired Loans The Company has defined impaired loans to be all nonperforming loans individually evaluated for impairment and TDRs. Management considers a loan impaired when, based on current information and events, it is determined that the Company will not be able to collect all amounts due according to the loan contract. Impairment is evaluated on an individual basis for SBA and commercial loans. The following table provides detail on the Company’s impaired loans that are individually evaluated for impairment with the associated allowance amount, if applicable, as of June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ Unpaid ​ ​ ​ ​ ​ ​ principal ​ Recorded ​ Specific (In thousands) ​ balance ​ investment ​ reserves With no related allowance: ​ ​ ​ ​ SBA loans held for investment (1) ​ $ 1,884 ​ $ 1,784 ​ $ — Commercial loans ​ ​ ​ Commercial other ​ ​ 684 ​ ​ 684 ​ ​ — Total commercial loans ​ 684 ​ 684 ​ — Residential mortgage loans ​ ​ 4,871 ​ ​ 4,766 ​ ​ — Consumer loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ ​ 505 ​ ​ 505 ​ ​ — Total impaired loans with no related allowance ​ 7,944 ​ 7,739 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ With an allowance: ​ ​ ​ SBA loans held for investment (1) ​ 356 ​ 272 ​ 177 Commercial loans ​ ​ ​ Commercial other ​ 28 ​ 10 ​ 10 Commercial real estate ​ 903 ​ 403 ​ 403 Total commercial loans ​ 931 ​ 413 ​ 413 Residential mortgage loans ​ ​ 1,426 ​ ​ 1,426 ​ ​ 256 Total impaired loans with a related allowance ​ 2,713 ​ 2,111 ​ 846 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total individually evaluated impaired loans: ​ ​ ​ SBA loans held for investment (1) ​ 2,240 ​ 2,056 ​ 177 Commercial loans ​ ​ ​ Commercial other ​ 28 ​ 10 ​ 10 Commercial real estate ​ 1,587 ​ 1,087 ​ 403 Total commercial loans ​ 1,615 ​ 1,097 ​ 413 Residential mortgage loans ​ ​ 6,297 ​ ​ 6,192 ​ ​ 256 Consumer loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ ​ 505 ​ ​ 505 ​ ​ — Total individually evaluated impaired loans ​ $ 10,657 ​ $ 9,850 ​ $ 846 ​ (1) Balances are reduced by amount guaranteed by the SBA of $307 thousand at June 30, 2020. The following table provides detail on the Company’s impaired loans that are individually evaluated for impairment with the associated allowance amount, if applicable, as of December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Unpaid ​ ​ ​ ​ ​ ​ principal ​ Recorded ​ Specific (In thousands) ​ balance ​ investment ​ reserves With no related allowance: ​ ​ ​ ​ SBA loans held for investment (1) ​ $ 1,224 ​ $ 1,064 ​ $ — Commercial loans ​ ​ ​ Commercial real estate ​ 213 ​ 213 ​ — Total commercial loans ​ 213 ​ 213 ​ — Total impaired loans with no related allowance ​ 1,437 ​ 1,277 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ With an allowance: ​ ​ ​ SBA loans held for investment (1) ​ 157 ​ 41 ​ 41 Commercial loans ​ ​ ​ Commercial other ​ 816 ​ 316 ​ 316 Commercial real estate ​ 705 ​ 705 ​ 57 Total commercial loans ​ 1,521 ​ 1,021 ​ 373 Total impaired loans with a related allowance ​ 1,678 ​ 1,062 ​ 414 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total individually evaluated impaired loans: ​ ​ ​ SBA loans held for investment (1) ​ 1,381 ​ 1,105 ​ 41 Commercial loans ​ ​ ​ ​ ​ ​ Commercial other ​ 816 ​ 316 ​ 316 Commercial real estate ​ 918 ​ 918 ​ 57 Total commercial loans ​ 1,734 ​ 1,234 ​ 373 Total individually evaluated impaired loans ​ $ 3,115 ​ $ 2,339 ​ $ 414 ​ (1) Balances are reduced by amount guaranteed by the SBA of $59 thousand at December 31, 2019. Impaired loans increased $7.5 million at June 30, 2020 compared to December 31, 2019. The increase in impaired loans was primarily due to the inclusion of residential and consumer loan evaluations, and the addition of seven commercial loans totaling $987 thousand. The following table presents the average recorded investments in impaired loans and the related amount of interest recognized during the time period in which the loans were impaired for the three and six months ended June 30, 2020 and 2019. The average balances are calculated based on the month-end balances of impaired loans. When the ultimate collectability of the total principal of an impaired loan is in doubt and the loan is on nonaccrual status, all payments are applied to principal under the cost recovery method, and therefore no interest income is recognized. The interest income recognized on impaired loans noted below represents primarily accruing TDRs and nominal amounts of income recognized on a cash basis for well-collateralized impaired loans. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ ​ ​ 2020 ​ 2019 ​ ​ ​ ​ Interest ​ ​ Interest ​ ​ ​ ​ ​ ​ income ​ ​ ​ ​ income ​ ​ ​ Average ​ recognized ​ Average ​ recognized ​ ​ ​ recorded ​ on impaired ​ recorded ​ on impaired ​ (In thousands) ​ investment ​ loans ​ investment ​ loans ​ SBA loans held for investment (1) ​ $ 1,265 ​ $ 3 ​ $ 618 ​ $ 4 ​ Commercial loans ​ ​ ​ ​ ​ ​ Commercial other ​ 99 ​ 12 ​ — ​ — ​ Commercial real estate ​ 1,282 ​ 33 ​ 1,486 ​ 9 ​ Residential mortgage loans ​ ​ 6,054 ​ ​ 52 ​ ​ — ​ ​ — ​ Consumer loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ ​ 505 ​ ​ 4 ​ ​ — ​ ​ — ​ Total ​ $ 9,205 ​ $ 104 ​ $ 2,104 ​ $ 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, ​ ​ 2020 ​ 2019 ​ ​ ​ Interest ​ ​ Interest ​ ​ ​ ​ ​ income ​ ​ ​ ​ income ​ ​ Average ​ recognized ​ Average ​ recognized ​ ​ recorded ​ on impaired ​ recorded ​ on impaired (In thousands) ​ investment ​ loans ​ investment ​ loans SBA loans held for investment (1) ​ $ 1,197 ​ $ 6 ​ $ 901 ​ $ 8 Commercial loans ​ ​ ​ ​ SBA 504 loans ​ 300 ​ 32 ​ — ​ — Commercial other ​ 52 ​ 21 ​ 4 ​ — Commercial real estate ​ 1,165 ​ 45 ​ 1,637 ​ 17 Residential mortgage loans ​ ​ 5,875 ​ ​ 81 ​ ​ — ​ ​ — Consumer loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ ​ 424 ​ ​ 9 ​ ​ — ​ ​ — Consumer other ​ ​ 38 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 9,051 ​ $ 194 ​ $ 2,542 ​ $ 25 ​ (1) Balances are reduced by the average amount guaranteed by the SBA of $418 thousand and $84 thousand for the six months ended June 30, 2020 and 2019, respectively. TDRs The Company’s loan portfolio also includes certain loans that have been modified as TDRs. TDRs occur when a creditor, for economic or legal reasons related to a debtor’s financial condition, grants a concession to the debtor that it would not otherwise consider, unless it results in a delay in payment that is insignificant. These concessions typically include reductions in interest rate, extending the maturity of a loan, or a combination of both. Under the CARES Act and regulatory guidance issued in regards to the COVID-19 pandemic, loan payment deferrals for periods of up to 180 days granted to borrowers adversely effected by the pandemic are not considered TDR’s if the borrower was current on its loan payments at year end 2019 or until the deferral was granted. When the Company modifies a loan, management evaluates for any possible impairment using either the discounted cash flows method, where the value of the modified loan is based on the present value of expected cash flows, discounted at the contractual interest rate of the original loan agreement, or by using the fair value of the collateral less selling costs if the loan is collateral-dependent. If management determines that the value of the modified loan is less than the recorded investment in the loan, impairment is recognized by segment or class of loan, as applicable, through an allowance estimate or charge-off to the allowance. This process is used, regardless of loan type, and for loans modified as TDRs that subsequently default on their modified terms. The Company had one performing TDR with a balance of $684 thousand and $705 thousand as of June 30, 2020 and December 31, 2019, respectively, which was included in the impaired loan numbers as of such dates. There were no specific reserves on the performing TDR as of June 30, 2020 compared to $57 thousand at December 31, 2019. The loan remains in accrual status since it continues to perform in accordance with the restructured terms. To date, the Company’s TDRs consisted of interest rate reductions, interest only periods, principal balance reductions, and maturity extensions. There were no loans modified during the three and six months ended June 30, 2020 and 2019 that were deemed to be TDRs. There were no loans modified as a TDR within the previous 12 months that subsequently defaulted at some point during the three and six months ended June 30, 2020. In this case, the subsequent default is defined as 90 days past due or transferred to nonaccrual status.

Allowance for Loan Losses and R

Allowance for Loan Losses and Reserve for Unfunded Loan Commitments6 Months Ended
Jun. 30, 2020
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Allowance for Loan Losses and Reserve for Unfunded Loan CommitmentsNOTE 9. Allowance for Loan Losses and Reserve for Unfunded Loan Commitments Allowance for Loan Losses The Company has an established methodology to determine the adequacy of the allowance for loan losses that assesses the risks and losses inherent in the loan portfolio. At a minimum, the adequacy of the allowance for loan losses is reviewed by management on a quarterly basis. For purposes of determining the allowance for loan losses, the Company has segmented the loans in its portfolio by loan type. Loans are segmented into the following pools: SBA 7(a), commercial, residential mortgages, and consumer loans. Certain portfolio segments are further broken down into classes based on the associated risks within those segments and the type of collateral underlying each loan. Commercial loans are divided into the following five classes: commercial real estate, commercial real estate construction, unsecured business line of credit, commercial other, and SBA 504. Consumer loans are divided into two classes as follows: home equity and other. The standardized methodology used to assess the adequacy of the allowance includes the allocation of specific and general reserves. The same standard methodology is used, regardless of loan type. Specific reserves are made to individual impaired loans and TDRs (see Note 1 for additional information on this term). The general reserve is set based upon a representative average historical net charge-off rate adjusted for the following environmental factors: delinquency and impairment trends, charge-off and recovery trends, volume and loan term trends, changes in risk and underwriting policy trends, staffing and experience changes, national and local economic trends, industry conditions and credit concentration changes. Within the five-year historical net charge-off rate, the Company weights the past three years more heavily as it believes it is more indicative of future charge-offs. All of the environmental factors are ranked and assigned a basis points value based on the following scale: low, low moderate, moderate, high moderate and high risk. Each environmental factor is evaluated separately for each class of loans and risk weighted based on its individual characteristics. ● For SBA 7(a) and commercial loans, the estimate of loss based on pools of loans with similar characteristics is made through the use of a standardized loan grading system that is applied on an individual loan level and updated on a continuous basis. The loan grading system incorporates reviews of the financial performance of the borrower, including cash flow, debt-service coverage ratio, earnings power, debt level and equity position, in conjunction with an assessment of the borrower’s industry and future prospects. It also incorporates analysis of the type of collateral and the relative loan to value ratio. ● For residential mortgage and consumer loans, the estimate of loss is based on pools of loans with similar characteristics. Factors such as credit score, delinquency status and type of collateral are evaluated. Factors are updated frequently to capture the recent behavioral characteristics of the subject portfolios, as well as any changes in loss mitigation or credit origination strategies, and adjustments to the reserve factors are made as needed. According to the Company’s policy, a loss (“charge-off”) is to be recognized and charged to the allowance for loan losses as soon as a loan is recognized as uncollectable. All credits which are 90 days past due must be analyzed for the Company’s ability to collect on the credit. Once a loss is known to exist, the charge-off approval process is immediately expedited. This charge-off policy is followed for all loan types. The allocated allowance is the total of identified specific and general reserves by loan category. The allocation is not necessarily indicative of the categories in which future losses may occur. The total allowance is available to absorb losses from any segment of the portfolio. The following tables detail the activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, 2020 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Balance, beginning of period ​ $ 1,005 ​ $ 10,129 ​ $ 4,763 ​ $ 1,479 ​ $ 17,376 Charge-offs ​ — ​ (219) ​ — ​ — ​ (219) Recoveries ​ 75 ​ 502 ​ — ​ — ​ 577 Net recoveries ​ 75 ​ 283 ​ — ​ — ​ 358 Provision for (credit to) loan losses charged to expense ​ (76) ​ 1,924 ​ 676 ​ (24) ​ 2,500 Balance, end of period ​ $ 1,004 ​ $ 12,336 ​ $ 5,439 ​ $ 1,455 ​ $ 20,234 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, 2019 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Balance, beginning of period ​ $ 1,678 ​ $ 8,793 ​ $ 4,016 ​ $ 1,197 ​ $ 15,684 Charge-offs ​ (84) ​ — ​ — ​ — ​ (84) Recoveries ​ 1 ​ 4 ​ — ​ 10 ​ 15 Net (charge-offs) recoveries ​ (83) ​ 4 ​ — ​ 10 ​ (69) Provision for (credit to) loan losses charged to expense ​ (274) ​ 347 ​ 182 ​ 95 ​ 350 Balance, end of period ​ $ 1,321 ​ $ 9,144 ​ $ 4,198 ​ $ 1,302 ​ $ 15,965 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2020 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Balance, beginning of period ​ $ 1,079 ​ $ 9,722 ​ $ 4,254 ​ $ 1,340 ​ $ 16,395 Charge-offs ​ (25) ​ (519) ​ (200) ​ — ​ (744) Recoveries ​ 80 ​ 503 ​ — ​ — ​ 583 Net recoveries (charge-offs) ​ 55 ​ (16) ​ (200) ​ — ​ (161) Provision (credit) for loan losses charged to expense ​ (130) ​ 2,630 ​ 1,385 ​ 115 ​ 4,000 Balance, end of period ​ $ 1,004 ​ $ 12,336 ​ $ 5,439 ​ $ 1,455 ​ $ 20,234 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2019 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Balance, beginning of period ​ $ 1,655 ​ $ 8,705 ​ $ 3,900 ​ $ 1,228 ​ $ 15,488 Charge-offs ​ (393) ​ (1) ​ — ​ (1) ​ (395) Recoveries ​ 3 ​ 9 ​ — ​ 10 ​ 22 Net (charge-offs) recoveries ​ (390) ​ 8 ​ — ​ 9 ​ (373) Provision for loan losses charged to expense ​ 56 ​ 431 ​ 298 ​ 65 ​ 850 Balance, end of period ​ $ 1,321 ​ $ 9,144 ​ $ 4,198 ​ $ 1,302 ​ $ 15,965 ​ The following tables present loans and their related allowance for loan losses, by portfolio segment, as of June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Allowance for loan losses ending balance: ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 177 ​ $ 413 ​ $ 256 ​ $ — ​ $ 846 Collectively evaluated for impairment ​ 827 ​ 11,923 ​ 5,183 ​ 1,455 ​ 19,388 Total ​ $ 1,004 ​ $ 12,336 ​ $ 5,439 ​ $ 1,455 ​ $ 20,234 Loan ending balances: ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 2,056 ​ $ 1,097 ​ $ 6,192 ​ $ 505 ​ $ 9,850 Collectively evaluated for impairment ​ 170,949 ​ 791,655 ​ 463,795 ​ 145,656 ​ 1,572,055 Total ​ $ 173,005 ​ $ 792,752 ​ $ 469,987 ​ $ 146,161 ​ $ 1,581,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Allowance for loan losses ending balance: ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 41 ​ $ 373 ​ $ — ​ $ — ​ $ 414 Collectively evaluated for impairment ​ 1,038 ​ 9,349 ​ 4,254 ​ 1,340 ​ 15,981 Total ​ $ 1,079 ​ $ 9,722 ​ $ 4,254 ​ $ 1,340 ​ $ 16,395 Loan ending balances: ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 1,105 ​ $ 1,234 ​ $ — ​ $ — ​ $ 2,339 Collectively evaluated for impairment ​ 34,662 ​ 763,798 ​ 467,706 ​ 143,524 ​ 1,409,690 Total ​ $ 35,767 ​ $ 765,032 ​ $ 467,706 ​ $ 143,524 ​ $ 1,412,029 ​ Changes in Methodology The Company did not make any changes to its allowance for loan losses methodology in the current period. Reserve for Unfunded Loan Commitments In addition to the allowance for loan losses, the Company maintains a reserve for unfunded loan commitments at a level that management believes is adequate to absorb estimated probable losses. Adjustments to the reserve are made through other expense and applied to the reserve which is classified as other liabilities. At June 30, 2020, a $281 thousand commitment reserve was reported on the balance sheet as an “other liability”, compared to a $273 thousand commitment reserve at December 31, 2019, due to a larger loan portfolio requiring a larger general reserve.

New Accounting Pronouncements

New Accounting Pronouncements6 Months Ended
Jun. 30, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting PronouncementsNOTE 10. New Accounting Pronouncements ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." ASU 2016-13 was issued to replace the incurred loss impairment methodology in current GAAP with an expected credit loss methodology and requires consideration of a broader range of information to determine credit loss estimates. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. Purchased credit impaired loans will receive an allowance account at the acquisition date that represents a component of the purchase price allocation. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses, with such allowance limited to the amount by which fair value is below amortized cost. For public business entities, ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019. In May 2019, FASB issued ASU 2019-05, "Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief." ASU 2019-05 was issued to address concerns with the adoption of ASU 2016-13. ASU 2019-05 gives entities the ability to irrevocable elect the fair value option in Subtopic 825-10 for certain existing financial assets upon transition to ASU 2016-03. Financial assets that are eligible for this fair value election are those that qualify under Subtopic 825-10 and are within the scope of Subtopic 326-10, "Financial Instruments - Credit Losses - Measured at Amortized Costs." An exception to this is held-to-maturity debt securities, which do not qualify for this transition election. The effective date for the amendment is the same as the effective date in ASU 2016-03. In November 2019, FASB issued ASU 2019-10, "Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates." ASU 2019-10 was issued to defer the effective dates for certain guidance in its Accounting Standard Codification ("ASC") for certain entities. The amendments in this update amend the mandatory effective dates for ASC 326, "Financial Instruments - Credit Losses", for entities eligible to be smaller reporting companies as defined by the SEC for fiscal years beginning after December 15, 2022, including interim reporting periods within that reporting period. The Company is currently evaluating the impact of the adoption of ASU 2016-13 on its consolidated financial statements. In November 2019, FASB issued ASU 2019-11, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses." ASU 2019-11 was issued to address issues raise by stakeholders during the implementation of ASU 2016-13. ASU 2019-11 provides transition relief when adjusting the effective interest rate for troubled debt restructurings ("TDRs") that exist as of the adoption date, extends the disclosure relief in ASU 2019-04 to disclose accrued interest receivable balances separately from the amortized cost basis to additional disclosures involving amortized cost basis, and provides clarification regarding application of the guidance in paragraph 326-20-35-6 for financial assets secured by collateral maintenance provisions that provides a practical expedient to measure the estimate of expected credit losses by comparing the amortized cost basis of a financial asset and the fair value of collateral securing the financial asset as of the reporting date. The effective date and transition requirements for the amendment are the same as the effective date and transition requirements in ASU 2016-13. ASU 2017-04, "Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." ASU 2017-04 was issued in an effort to simplify accounting in a new standard. The amendments in this update require that an entity perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The amendment states that an entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, but the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. For public business entities, ASU 2017-04 is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performing on testing dates after January 1, 2017. The Company adopted this standard as of January 1, 2020. The adoption of this ASU did not have an impact on the Company’s consolidated financial statements since the fair values of our reporting units were not lower than their respective carrying amounts at the time of our goodwill impairment analysis. ASU 2019- 12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." ASU 2019-12 removes the exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items and removes the exception to the interim period income tax accounting when a year-to-date loss exceeds the anticipated loss for the year. ASU 2019-12 also simplifies the accounting for income taxes by requiring that an entity recognize a franchise tax that is partially based on income as an income-based tax, that an entity evaluate when a step up in the tax basis of goodwill should be considered part of the business combination in which the book goodwill originally was recognized, and that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. For public business entities, ASU 2019-12 is effective for interim and annual periods beginning after December 15, 2020. ASU 2020-01, "Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force)." ASU 2020-01 clarifies that the observable price changes in orderly transactions that should be considered when applying the measurement alternative in accordance with ASC 321 include transactions that require it to either apply or discontinue the equity method of accounting under ASC 323. ASU 2020-01 also addresses questions about how to apply the guidance in Topic 815, “Derivatives and Hedging,” for certain forward contracts and purchased options to purchase securities that, upon settlement or exercise, would be accounted for under the equity method of accounting. The ASU clarifies that, for the purpose of applying ASC 815-10-15-141(a), an entity should not consider whether, upon the settlement of the forward contract or exercise of the purchased option, the underlying securities would be accounted for under the equity method in ASC 323 or the fair value option in accordance with the financial instruments guidance in Topic 825, “Financial Instruments.” For public business entities, ASU 2020-01 is effective for interim and annual periods beginning after December 15, 2020. ASU 2020- 03, "Codification Improvement to Financial Instruments." ASU 2020-03 clarifies that all entities are required to provide the fair value option disclosures in paragraphs 825-10-50-24 through 50-32 of the FASB’s Accounting Standards Codification (ASC). ASU 2020-03 also clarifies that the contractual term of a net investment in a lease determined in accordance with ASC 842, “Leases,” should be the contractual term used to measure expected credit losses under ASC 326, “Financial Instruments – Credit Losses.” ASU 2020-03 also addresses amendments to ASC 860-20, “Transfers and Servicing – Sales of Financial Assets,” clarify that when an entity regains control of financial assets sold, an allowance for credit losses should be recorded in accordance with ASC 326. The effective date and transition requirements for the amendment are the same as the effective date and transition requirements in ASU 2016-13. ASU 2020- 04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." ASU 2020-04 provides temporary optional guidance intended to ease the burden of reference rate reform on financial reporting. The guidance provides optional expedients and exceptions for applying existing guidance to contract modifications, hedging relationships and other transactions that are expected to be affected by reference rate reform and meet certain scope guidance. ASU 2020-04 provides various optional expedients, including the following, for hedging relationships affected by reference rate reform, if certain criteria are met: ● An entity can change certain critical terms of the hedging instrument or hedged item or transaction without having to dedesignate the relationship. ● For fair value hedging relationships in which the designated interest rate is LIBOR or another rate that is expected to be discontinued, an entity may change the hedged risk to another permitted benchmark rate without dedesignating the relationship. ● For cash flow hedging relationships in which the designated hedged risk is LIBOR or another rate that is expected to be discontinued, an entity may assert that the occurrence of the hedged forecasted transaction remains probable. ● Certain qualifying conditions for the shortcut method and other methods that assume perfect effectiveness may be disregarded. ​ In addition, ASU 2020-04 permits an entity to make a one-time election to sell, transfer, or both sell and transfer debt securities classified as held to maturity that reference a rate affected by reference rate reform and that were classified as held to maturity before January 1, 2020. ASU 2020-04 was effective upon its issuance on March 12, 2020. However, it cannot be applied to contract modifications that occur after December 31, 2022. With certain exceptions, the ASU also cannot be applied to hedging relationships entered into or evaluated after that date.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging ActivitiesNOTE 11. Derivative Financial Instruments and Hedging Activities Derivative Financial Instruments The Company has derivative financial instruments in the form of interest rate swap agreements, which derive their value from underlying interest rates. These transactions involve both credit and market risk. The notional amounts are amounts on which calculations, payments, and the value of the derivatives are based. Notional amounts do not represent direct credit exposures. Direct credit exposure is limited to the net difference between the calculated amounts to be received and paid, if any. Such difference, which represents the fair value of the derivative instrument, is reflected on the Company’s balance sheet as other assets or other liabilities. The Company is exposed to credit-related losses in the event of nonperformance by the counterparties to any derivative agreement. The Company controls the credit risk of its financial contracts through credit approvals, limits and monitoring procedures, and does not expect any counterparties to fail their obligations. The Company deals only with primary dealers. Derivative instruments are generally either negotiated OTC contracts or standardized contracts executed on a recognized exchange. Negotiated OTC derivative contracts are generally entered into between two counterparties that negotiate specific agreement terms, including the underlying instrument, amount, exercise prices and maturity. Risk Management Policies – Hedging Instruments The primary focus of the Company’s asset/liability management program is to monitor the sensitivity of the Company’s net portfolio value and net income under varying interest rate scenarios to take steps to control its risks. On a quarterly basis, the Company evaluates the effectiveness of entering into any derivative agreement by measuring the cost of such an agreement in relation to the reduction in net portfolio value and net income volatility within an assumed range of interest rates. Interest Rate Risk Management – Cash Flow Hedging Instruments The Company has variable rate debt as a source of funds for use in the Company’s lending and investment activities and for other general business purposes. These debt obligations expose the Company to variability in interest payments due to changes in interest rates. If interest rates increase, interest expense increases. Conversely, if interest rates decrease, interest expense decreases. Management believes it is prudent to limit the variability of a portion of its interest payments and, therefore hedges its variable-rate interest payments. To meet this objective, management enters into interest rate swap agreements whereby the Company receives variable interest rate payments and makes fixed interest rate payments during the contract period. At June 30, 2020, the Company had interest rate swaps with a notional amount of $100.0 million, compared to a notional amount of $60.0 million at December 31, 2019, which were designated as cash flow hedging instruments. During the six months ended June 30, 2020, the Company entered into two new swap agreements with notional values of $20.0 million each. A summary of the Company’s outstanding interest rate swap agreements used to hedge variable rate debt at June 30, 2020 and December 31, 2019, respectively is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands, except percentages and years) June 30, 2020 December 31, 2019 Notional amount ​ $ 100,000 ​ $ 60,000 ​ Fair value ​ $ (1,512) ​ $ 238 ​ Weighted average pay rate ​ 1.19 % 1.42 % Weighted average receive rate ​ 1.24 % 2.19 % Weighted average maturity in years ​ 2.33 ​ 1.25 ​ Number of contracts ​ 6 ​ 4 ​ ​ During the three and six months ended June 30, 2020, the Company received variable rate London Interbank Offered Rate ("LIBOR") payments from and paid fixed rates in accordance with its interest rate swap agreements. At June 30, 2020, the unrealized loss relating to interest rate swaps was recorded as a derivative liability, whereas at December 31, 2019, the unrealized gain relating to interest rate swaps was recorded as a derivative asset. Changes in the fair value of the interest rate swaps designated as hedging instruments of the variability of cash flows associated with long-term debt are reported in other comprehensive income. The following table presents the net losses recorded in other comprehensive income and the consolidated financial statements relating to the cash flow derivative instruments at June 30, 2020 and 2019, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) 2020 2019 ​ 2020 2019 ​ Unrealized losses relating to interest rate swaps $ (340) $ (584) ​ (1,750) (965) ​ ​

Employee Benefit Plans

Employee Benefit Plans6 Months Ended
Jun. 30, 2020
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract]
Employee Benefit PlansNOTE 12. Employee Benefit Plans Stock Option Plans The Company has incentive and nonqualified option plans, which allow for the grant of options to officers, employees and members of the Board of Directors. Grants under the Company’s incentive and nonqualified option plans generally vest over 3 years and must be exercised within 10 years of the date of grant. Transactions under the Company’s stock option plans for the six months ended June 30, 2020 are summarized in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ average ​ ​ ​ ​ ​ ​ ​ average ​ remaining ​ Aggregate ​ ​ ​ ​ exercise ​ contractual ​ intrinsic ​ ​ Shares ​ price ​ life in years ​ value Outstanding at December 31, 2019 614,311 ​ $ 14.78 6.9 ​ $ 4,783,402 Options granted 101,000 ​ 20.39 ​ ​ ​ Options exercised (54,611) ​ 7.24 ​ ​ ​ Options forfeited (9,999) ​ 20.79 ​ ​ ​ Options expired — ​ — ​ ​ ​ Outstanding at June 30, 2020 650,701 ​ $ 16.19 7.0 ​ $ 1,235,282 Exercisable at June 30, 2020 ​ 387,870 ​ $ 13.21 5.7 ​ $ 1,235,282 ​ On April 25, 2019, the Company adopted the 2019 Equity Compensation Plan providing for grants of up to 500,000 shares to be allocated between incentive and non-qualified stock options, restricted stock awards, performance units and deferred stock. The Plan replaced all previously approved and established equity plans then currently in effect. As of June 30, 2020, 142,000 options and 30,900 shares of restricted stock have been awarded from the plan leaving 327,100 shares available for future grants. The fair values of the options granted during the three and six months ended June 30, 2020 and 2019 were estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ ​ For the six months ended June 30, ​ ​ 2020 2019 ​ 2020 2019 ​ Number of options granted ​ — ​ — ​ ​ 101,000 ​ 55,000 ​ Weighted average exercise price ​ $ — ​ $ — ​ ​ $ 20.39 ​ $ 20.61 ​ Weighted average fair value of options ​ $ — ​ $ — ​ ​ $ 5.54 ​ $ 6.21 ​ Expected life in years (1) ​ 0.00 ​ 0.00 ​ ​ 8.66 ​ 8.23 ​ Expected volatility (2) ​ — % — % ​ 27.13 % 27.08 % Risk-free interest rate (3) ​ — % — % ​ 1.55 % 2.55 % Dividend yield (4) ​ — % — % ​ 1.61 % 1.36 % ​ (1) The expected life of the options was estimated based on historical employee behavior and represents the period of time that options granted are expected to be outstanding. (2) The expected volatility of the Company’s stock price was based on the historical volatility over the period commensurate with the expected life of the options. (3) The risk-free interest rate is the U.S. Treasury rate commensurate with the expected life of the options on the date of grant. (4) The expected dividend yield is the projected annual yield based on the grant date stock price. Upon exercise, the Company issues shares from its authorized but unissued common stock to satisfy the options. The following table presents information about options exercised during the three and six months ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2020 2019 2020 2019 ​ Number of options exercised ​ 49,111 ​ 32,000 ​ ​ 54,611 ​ 52,434 ​ Total intrinsic value of options exercised ​ $ 388,981 ​ $ 464,208 ​ $ 475,222 ​ $ 704,610 ​ Cash received from options exercised ​ $ 361,253 ​ $ 197,121 ​ $ 395,518 ​ $ 363,064 ​ Tax deduction realized from options ​ $ 113,952 ​ $ 139,657 ​ $ 139,216 ​ $ 211,982 ​ ​ The following table summarizes information about stock options outstanding and exercisable at June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options outstanding ​ Options exercisable ​ ​ ​ Weighted average Weighted ​ Weighted ​ ​ Options ​ remaining contractual ​ average ​ Options ​ average Range of exercise prices ​ outstanding ​ life (in years) ​ exercise price ​ exercisable ​ exercise price $0.00 - $6.00 44,000 2.0 ​ $ 5.65 44,000 ​ $ 5.65 $6.01 - $12.00 156,667 4.7 ​ 8.85 156,667 ​ 8.85 $12.01 - $18.00 102,533 7.6 ​ 15.94 67,533 ​ 15.78 $18.01 - $24.00 347,501 8.5 ​ 20.92 119,670 ​ 20.26 Total 650,701 7.0 ​ $ 16.19 387,870 ​ $ 13.21 ​ Financial Accounting Standards Board Accounting Standards Codification ("FASB ASC") Topic 718, “Compensation - Stock Compensation,” ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2020 2019 ​ 2020 2019 ​ Compensation expense ​ $ 180,785 ​ $ 154,247 ​ $ 373,274 ​ $ 290,603 ​ Income tax benefit ​ $ 52,247 ​ $ 44,577 ​ $ 107,876 ​ $ 83,984 ​ ​ As of June 30, 2020, unrecognized compensation costs related to nonvested share-based compensation arrangements granted under the Company’s stock option plans totaled approximately $1.2 million. That cost is expected to be recognized over a weighted average period of 2.0 years. Restricted Stock Awards Restricted stock is issued under the stock bonus program to reward employees and directors and to retain them by distributing stock over a period of time. Restricted stock awards granted to date vest over a period of 4 years and are recognized as compensation to the recipient over the vesting period. The awards are recorded at fair market value at the time of grant and amortized into salary expense on a straight line basis over the vesting period. The following table summarizes nonvested restricted stock activity for the six months ended June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Average grant ​ ​ Shares ​ date fair value Nonvested restricted stock at December 31, 2019 108,740 ​ $ 19.18 Granted 15,000 ​ 16.63 Cancelled (5,937) ​ 19.97 Vested (33,718) ​ 17.08 Nonvested restricted stock at June 30, 2020 84,085 ​ $ 19.51 ​ Restricted stock awards granted during the three and six months ended June 30, 2020 and 2019 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2020 2019 ​ 2020 2019 ​ Number of shares granted ​ — ​ — ​ ​ 15,000 ​ 30,150 ​ Average grant date fair value ​ $ — ​ $ — ​ $ 16.63 ​ $ 20.65 ​ ​ Compensation expense related to restricted stock for the three and six months ended June 30, 2020 and 2019 is detailed in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2020 2019 ​ 2020 2019 ​ Compensation expense ​ $ 161,173 ​ $ 166,620 ​ $ 334,078 ​ $ 312,908 ​ Income tax benefit ​ $ 46,580 ​ $ 48,153 ​ $ 96,549 ​ $ 90,430 ​ ​ As of June 30, 2020, there was approximately $1.3 million of unrecognized compensation cost related to nonvested restricted stock awards granted under the Company’s stock incentive plans. That cost is expected to be recognized over a weighted average period of 2.6 years. 401(k) Savings Plan The Bank has a 401(k) savings plan covering substantially all employees. Under the Plan, an employee can contribute up to 80 percent of their salary on a tax deferred basis. The Bank may also make discretionary contributions to the Plan. The Bank contributed $186 thousand and $193 thousand to the Plan during the three months ended June 30, 2020 and 2019, respectively, and $371 thousand and $339 thousand during the six months ended June 30, 2020 and 2019, respectively. Deferred Fee Plan The Company has a deferred fee plan for Directors and executive management. Directors of the Company have the option to elect to defer up to 100 percent of their respective retainer and Board of Director fees, and each member of executive management has the option to elect to defer up to 100 percent of their year end cash bonuses. Director and executive deferred fees totaled $30 thousand and $21 thousand during the three months ended June 30, 2020 and 2019, respectively, and $522 thousand and $332 thousand during the six months ended June 30, 2020 and 2019, respectively. The interest paid on the deferred balances totaled $33 thousand and $27 thousand during the three months ended June 30, 2020 and 2019, respectively, and $62 thousand and $50 thousand during the six months ended June 30, 2020 and 2019 respectively. The fees distributed on the deferred balances totaled $3 thousand and $2 thousand during the three months ended June 30, 2020 and 2019, respectively, and $6 thousand during the six months ended June 30, 2020 and 2019. Benefit Plans In addition to the 401(k) savings plan which covers substantially all employees, in 2015 the Company established an unfunded supplemental defined benefit plan to provide additional retirement benefits for the President and Chief Executive Officer (“CEO”) and certain key executives. On June 4, 2015, the Company approved the Supplemental Executive Retirement Plan (“SERP”) pursuant to which the President and CEO is entitled to receive certain supplemental nonqualified retirement benefits. On September 27, 2018 the Company approved a change in calculation of the Retirement Benefit payable under the SERP so that the Retirement Benefit shall be an amount equal to sixty percent (60%) of the average of Executive’s base salary for the thirty-six The President and CEO commenced vesting in this retirement benefit on January 1, 2014, and vests an additional three percent (3%) each year until fully vested on January 1, 2024. In the event that the President and CEO’s separation from service from the Company were to occur prior to full vesting, the President and CEO would be entitled to and shall be paid the vested portion of the retirement benefit calculated as of the date of separation from service. Notwithstanding the foregoing, upon a Change in Control, and provided that within 6 months following the Change in Control the President and CEO is involuntarily terminated for reasons other than “cause” or the President and CEO resigns for “good reason,” as such is defined in the SERP, or the President and CEO voluntarily terminates his employment after being offered continued employment in a position that is not a “Comparable Position,” as such is also defined in the SERP, the President and CEO shall become one hundred percent (100%) vested in the full retirement benefit. No contributions or payments have been made during the three and six months ended June 30, 2020. The following table summarizes the components of the net periodic pension cost of the defined benefit plan recognized during the three and six months ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) 2020 2019 ​ 2020 2019 ​ Service cost ​ $ 32 ​ $ 172 ​ $ 63 ​ $ 219 ​ Interest cost ​ 37 ​ 34 ​ 74 ​ 63 ​ Amortization of prior service cost ​ 21 ​ 21 ​ 42 ​ 42 ​ Net periodic benefit cost ​ $ 90 ​ $ 227 ​ $ 179 ​ $ 324 ​ ​ The following table summarizes the changes in benefit obligations of the defined benefit plan during the six months ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, ​ (In thousands) 2020 2019 ​ Benefit obligation, beginning of year ​ $ 3,571 ​ $ 2,747 ​ Service cost ​ 63 ​ 219 ​ Interest cost ​ 74 ​ 63 ​ Benefit obligation, end of period ​ $ 3,708 ​ $ 3,029 ​ ​ On October 22, 2015, the Company entered into an Executive Incentive Retirement Plan (the “Plan”) with certain key executive officers other than the President and CEO. The Plan has an effective date of January 1, 2015. The Plan is an unfunded, nonqualified deferred compensation plan. For any Plan Year, a guaranteed annual Deferral Award percentage of seven and one half percent (7.5%) of the participant’s annual base salary will be credited to each Participant’s Deferred Benefit Account. A discretionary annual Deferral Award equal to seven and one half percent (7.5%) of the participant’s annual base salary may be credited to the Participant’s account in addition to the guaranteed Deferral Award, if the Bank exceeds the benchmarks set forth in the Annual Executive Bonus Matrix. The total Deferral Award shall never exceed fifteen percent (15%) of the participant’s base salary for any given Plan Year. Each Participant shall be one hundred percent (100%) vested in all Deferral Awards as of the date they are awarded. As of June 30, 2020, the Company had total year to date expenses of $39 thousand related to the Plan. The Plan is reflected on the Company’s balance sheet as accrued expenses. Certain members of management are also enrolled in a split-dollar life insurance plan with a post retirement death benefit of $250 thousand. Total expenses related to this plan were $1 thousand for the three months ended June 30, 2020 and 2019, and $2 thousand for the six months ended June 30, 2020 and 2019, respectively.

Regulatory Capital

Regulatory Capital6 Months Ended
Jun. 30, 2020
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Regulatory CapitalNOTE 13. Regulatory Capital On September 17, 2019, the federal banking agencies issued a final rule providing simplified capital requirements for certain community banking organizations (banks and holding companies) with less than $10 billion in total consolidated assets, implementing provisions of The Economic Growth, Regulatory Relief, and Consumer Protection Act (“EGRRCPA”). Under the proposal, a qualifying community banking organization would be eligible to elect the community bank leverage ratio framework, or continue to measure capital under the existing Basel III requirements. The new rule was effective beginning January 1, 2020, and qualifying community banking organizations may elect to opt into the new community bank leverage ratio (“CBLR”) in their call report beginning in the first quarter of 2020. A qualifying community banking organization (“QCBO”) is defined as a bank, a savings association, a bank holding company or a savings and loan holding company with: ● A leverage capital ratio of greater than 9.0%; ● Total consolidated assets of less than $10.0 billion; ● Total off-balance sheet exposures (excluding derivatives other than credit derivatives and unconditionally cancelable commitments) of 25% or less of total consolidated assets; and ● Total trading assets and trading liabilities of 5% or less of total consolidated assets. ​ On April 6, 2020, the federal banking regulators, implementing the applicable provisions of the CARES Act, which modified the CBLR framework so that: (i) beginning in the second quarter 2020 and until the end of the year, a banking organization that has a leverage ratio of 8% or greater and meets certain other criteria may elect to use the CBLR framework; and (ii) community banking organizations will have until January 1, 2022, before the CBLR requirement is re-established at greater than 9%. Under the interim rules, the minimum CBLR will be 8% beginning in the second quarter and for the remainder of calendar year 2020, 8.5% for calendar year 2021, and 9% thereafter. The numerator of the CBLR is Tier 1 capital, as calculated under present rules. The denominator of the CBLR is the QCBO’s average assets, calculated in accordance with the QCBO’s Call Report instructions less assets deducted from Tier 1 capital. The Bank has opted into the CBLR, and will therefore not be required to comply with the Basel III capital requirements. As of June 30, 2020, the Bank’s CBLR was 9.64%, and the Company’s CBLR was 10.01%. The following table shows the CBLR ratio for the Company and the Bank for the period ended June 30, 2020, and the capital ratios for the Company and the Bank under Basel III requirements at December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Company Bank Required for capital adequacy purposes (1) To be well-capitalized under prompt corrective action regulations At June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CBLR 10.01 % 9.64 % 8.00 % 8.00 % At December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Leverage ratio ​ 10.59 % 10.15 % ​ 4.00 % 5.00 % CET1 11.59 % 11.81 % 4.50 % 6.50 % Tier I risk-based capital ratio 12.32 % 11.81 % 6.00 % 8.00 % Total risk-based capital ratio ​ 13.06 % 12.58 % 8.00 % 10.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Excludes capital conservation buffer at December 31, 2019. ​

Leases

Leases6 Months Ended
Jun. 30, 2020
Leases
LeasesNOTE 14. Leases The Company follows ASU 2016-02, "Leases (Topic 842)," Operating leases in which the Bank is the lessee are recorded as right-of-use ("ROU") assets and lease liabilities and are included in Prepaid expenses and other assets and Accrued expenses and other liabilities, respectively, on the Bank’s Consolidated Balance Sheets. The Bank does not currently have any finance leases in which it is the lessee. Operating lease ROU assets represent the Bank’s right to use an underlying asset during the lease term and operating lease liabilities represent its obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents our incremental borrowing rate. The incremental borrowing rate was calculated for each lease by taking a variable rate FHLB ARC product (based on Libor plus a spread) and then swapping it to a fixed rate borrowing by adding a fixed mid swap rate for the desired term. The borrowing rate for each lease is unique based on the lease term. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in Occupancy expense in the Consolidated Statements of Income. The Bank’s leases relate primarily to bank branches, office space and equipment with remaining lease terms of generally 1 to 10 years. Certain lease arrangements contain extension options which typically range from 1 to 5 years at the then fair market rental rates. As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term. Certain real estate leases have lease payments that adjust based on annual changes in the Consumer Price Index ("CPI"). The leases that are dependent upon CPI are initially measured using the index or rate at the commencement date and are included in the measurement of the lease liability. Operating lease ROU assets totaled $2.6 million at June 30, 2020, compared to $2.8 million at December 31, 2019. As of June 30, 2020, operating lease liabilities totaled $2.6 million, compared to $2.8 million at December 31, 2019. The table below summarizes our net lease cost: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ Operating lease cost ​ $ 148 ​ $ 138 ​ $ 295 ​ $ 285 ​ Net lease cost ​ $ 148 ​ $ 138 ​ $ 295 ​ $ 285 ​ ​ The table below summarizes the cash and non-cash activities associated with our leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 142 ​ $ 130 ​ $ 283 ​ $ 268 ​ ROU assets obtained in exchange for new operating lease liabilities ​ $ — ​ $ 486 ​ $ — ​ $ 3,252 ​ ​ The table below summarizes other information related to our operating leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands, except percentages and years) June 30, 2020 December 31, 2019 Weighted average remaining lease term in years ​ 6.39 ​ ​ 6.76 ​ Weighted average discount rate ​ 5.49 % ​ 5.47 % Operating lease right-of-use assets ​ $ 2,555 ​ $ 2,792 ​ ​ The table below summarizes the maturity of remaining lease liabilities: ​ ​ ​ ​ ​ (In thousands) June 30, 2020 2020 (excluding the six months ended June 30, 2020) ​ $ 274 2021 ​ 528 2022 ​ 477 2023 ​ 410 2024 ​ 361 2025 and thereafter ​ 1,036 Total lease payments ​ $ 3,086 Less: Interest ​ (491) Present value of lease liabilities ​ $ 2,595 ​ As of June 30, 2020, the Corporation had not entered into any material leases that have not yet commenced.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]
OverviewThe accompanying Consolidated Financial Statements include the accounts of Unity Bancorp, Inc. (the "Parent Company") and its wholly-owned subsidiary, Unity Bank (the "Bank" or when consolidated with the Parent Company, the "Company"), and reflect all adjustments and disclosures which are generally routine and recurring in nature, and in the opinion of management, necessary for a fair presentation of interim results. The Bank has multiple subsidiaries used to hold part of its investment and loan portfolios and OREO properties. All significant intercompany balances and transactions have been eliminated in consolidation. Certain reclassifications have been made to prior period amounts to conform to the current year presentation, with no impact on current earnings or shareholders’ equity. The financial information has been prepared in accordance with U.S. generally accepted accounting principles and has not been audited. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses during the reporting periods. Actual results could differ from those estimates. Amounts requiring the use of significant estimates include the allowance for loan losses, valuation of deferred tax and servicing assets, the carrying value of loans held for sale and other real estate owned, the valuation of securities and the determination of other-than-temporary impairment for securities and fair value disclosures. Management believes that the allowance for loan losses is adequate. While management uses available information to recognize losses on loans, future additions to the allowance for loan losses may be necessary based on changes in economic conditions. The markets served by the Company have been significantly impacted by the COVID-19 pandemic, which started during the first quarter of 2020. The Company continues to assess the financial impact of the COVID-19 pandemic. The interim unaudited Consolidated Financial Statements included herein have been prepared in accordance with instructions for Form 10-Q and the rules and regulations of the Securities and Exchange Commission (“SEC”) and consist of normal recurring adjustments necessary for the fair presentation of interim results. The results of operations for the six months ended June 30, 2020 are not necessarily indicative of the results which may be expected for the entire year. As used in this Form 10-Q, “we” and “us” and “our” refer to Unity Bancorp, Inc., and its consolidated subsidiary, Unity Bank, depending on the context. Certain information and financial disclosures required by U.S. generally accepted accounting principles have been condensed or omitted from interim reporting pursuant to SEC rules. Interim financial statements should be read in conjunction with the Company’s Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
Other-Than-Temporary ImpairmentOther-Than-Temporary Impairment The Company has a process in place to identify securities that could potentially incur credit impairment that is other-than-temporary. This process involves monitoring late payments, pricing levels, downgrades by rating agencies, key financial ratios, financial statements, revenue forecasts and cash flow projections as indicators of credit issues. Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concern warrants such evaluation. This evaluation considers relevant facts and circumstances in evaluating whether a credit or interest rate-related impairment of a security is other-than-temporary. Relevant facts and circumstances considered include: (1) the extent and length of time the fair value has been below cost; (2) the reasons for the decline in value; (3) the financial position and access to capital of the issuer, including the current and future impact of any specific events and (4) for fixed maturity securities, the intent to sell a security or whether it is more likely than not the Company will be required to sell the security before the recovery of its amortized cost which, in some cases, may extend to maturity and for equity securities, our ability and intent to hold the security for a forecasted period of time that allows for the recovery in value. Management assesses its intent to sell or whether it is more likely than not that it will be required to sell a security before recovery of its amortized cost basis less any current-period credit losses. For debt securities that are considered other-than-temporarily impaired with no intent to sell and no requirement to sell prior to recovery of its amortized cost basis, the amount of the impairment is separated into the amount that is credit related (credit loss component) and the amount due to all other factors. The credit loss component is recognized in earnings and is the difference between the security’s amortized cost basis and the present value of its expected future cash flows. The remaining difference between the security’s fair value and the present value of future expected cash flows is due to factors that are not credit related and is recognized in other comprehensive income. For debt securities where management has the intent to sell, the amount of the impairment is reflected in earnings as realized losses. The present value of expected future cash flows is determined using the best estimate cash flows discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete an asset-backed or floating rate security. The methodology and assumptions for establishing the best estimate cash flows vary depending on the type of security. The asset-backed securities cash flow estimates are based on bond specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity and prepayment speeds and structural support, including subordination and guarantees. The corporate bond cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or the disposition of assets using bond specific facts and circumstances including timing, security interests and loss severity.
Transfers of Financial AssetsTransfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
LoansLoans Loans Held for Sale Loans held for sale represent the guaranteed portion of Small Business Administration (“SBA”) loans and are reflected at the lower of aggregate cost or market value. The Company originates loans to customers under an SBA program that historically has provided for SBA guarantees of up to 90 percent of each loan. The Company generally sells the guaranteed portion of its SBA loans to a third party and retains the servicing, holding the nonguaranteed portion in its portfolio. The net amount of loan origination fees on loans sold is included in the carrying value and in the gain or loss on the sale. When sales of SBA loans do occur, the premium received on the sale and the present value of future cash flows of the servicing assets are recognized in income. All criteria for sale accounting must be met in order for the loan sales to occur; see details under the “Transfers of Financial Assets” heading above. Servicing assets represent the estimated fair value of retained servicing rights, net of servicing costs, at the time loans are sold. Servicing assets are amortized in proportion to, and over the period of, estimated net servicing revenues. Impairment is evaluated based on stratifying the underlying financial assets by date of origination and term. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Any impairment, if temporary, would be reported as a valuation allowance. Serviced loans sold to others are not included in the accompanying Consolidated Balance Sheets. Income and fees collected for loan servicing are credited to noninterest income when earned, net of amortization on the related servicing assets. Loans Held to Maturity Loans held to maturity are stated at the unpaid principal balance, net of unearned discounts and deferred loan origination fees and costs. In accordance with the level yield method, loan origination fees, net of direct loan origination costs, are deferred and recognized over the estimated life of the related loans as an adjustment to the loan yield. Interest is credited to operations primarily based upon the principal balance outstanding. Loans are reported as past due when either interest or principal is unpaid in the following circumstances: fixed payment loans when the borrower is in arrears for two or more monthly payments; open end credit for two or more billing cycles; and single payment notes if interest or principal remains unpaid for 30 days or more. Nonperforming loans consist of loans that are not accruing interest as a result of principal or interest being in default for a period of 90 days or more or when the ability to collect principal and interest according to the contractual terms is in doubt (nonaccrual loans). When a loan is classified as nonaccrual, interest accruals are discontinued and all past due interest previously recognized as income is reversed and charged against current period earnings. Generally, until the loan becomes current, any payments received from the borrower are applied to outstanding principal until such time as management determines that the financial condition of the borrower and other factors merit recognition of a portion of such payments as interest income. Loans may be returned to an accrual status when the ability to collect is reasonably assured and when the loan is brought current as to principal and interest. Loans are charged off when collection is sufficiently questionable and when the Company can no longer justify maintaining the loan as an asset on the balance sheet. Loans qualify for charge-off when, after thorough analysis, all possible sources of repayment are insufficient. These include: 1) potential future cash flows, 2) value of collateral, and/or 3) strength of co-makers and guarantors. All unsecured loans are charged off upon the establishment of the loan’s nonaccrual status. Additionally, all loans classified as a loss or that portion of the loan classified as a loss is charged off. All loan charge-offs are approved by the Board of Directors. Troubled debt restructurings ("TDRs") occur when a creditor, for economic or legal reasons related to a debtor’s financial condition, grants a concession to the debtor that it would not otherwise consider. These concessions typically include reductions in interest rate, extending the maturity of a loan, or a combination of both. Interest income on accruing TDRs is credited to operations primarily based upon the principal amount outstanding, as stated in the paragraphs above. The Company evaluates its loans for impairment. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The Company has defined impaired loans to be all TDRs and nonperforming loans individually evaluated for impairment. Impairment is evaluated in total for smaller-balance loans of a similar nature (consumer and residential mortgage loans), and on an individual basis for all other loans. Impairment of a loan is measured based on the present value of expected future cash flows, discounted at the loan’s effective interest rate, or as a practical expedient, based on a loan’s observable market price or the fair value of collateral, net of estimated costs to sell, if the loan is collateral-dependent. If the value of the impaired loan is less than the recorded investment in the loan, the Company establishes a valuation allowance, or adjusts existing valuation allowances, with a corresponding charge to the provision for loan losses. For additional information on loans, see Note 8 to the Consolidated Financial Statements and the section titled "Loan Portfolio" under Item 2. Management’s Discussion and Analysis.
Allowance for Loan Losses and Reserve for Unfunded Loan CommitmentsAllowance for Loan Losses and Reserve for Unfunded Loan Commitments The allowance for loan losses is maintained at a level management considers adequate to provide for probable loan losses as of the balance sheet date. The allowance is increased by provisions charged to expense and is reduced by net charge-offs. The level of the allowance is based on management’s evaluation of probable losses in the loan portfolio, after consideration of prevailing economic conditions in the Company’s market area, the volume and composition of the loan portfolio, and historical loan loss experience. The allowance for loan losses consists of specific reserves for individually impaired credits and TDRs, reserves for nonimpaired loans based on historical loss factors and reserves based on general economic factors and other qualitative risk factors such as changes in delinquency trends, industry concentrations or local/national economic trends. This risk assessment process is performed at least quarterly, and, as adjustments become necessary, they are realized in the periods in which they become known. Although management attempts to maintain the allowance at a level deemed adequate to provide for probable losses, future additions to the allowance may be necessary based upon certain factors including changes in market conditions and underlying collateral values. In addition, various regulatory agencies periodically review the adequacy of the Company’s allowance for loan losses. These agencies may require the Company to make additional provisions based on their judgments about information available to them at the time of their examination. The Company maintains an allowance for unfunded loan commitments that is maintained at a level that management believes is adequate to absorb estimated probable losses. Adjustments to the allowance are made through other expenses and applied to the allowance which is maintained in other liabilities. For additional information on the allowance for loan losses and unfunded loan commitments, see Note 9 to the Consolidated Financial Statements and the sections titled "Asset Quality" and "Allowance for Loan Losses and Reserve for Unfunded Loan Commitments" under Item 2. Management’s Discussion and Analysis.
Income TaxesIncome Taxes The Company accounts for income taxes according to the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates applicable to taxable income for the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation reserves are established against certain deferred tax assets when it is more likely than not that the deferred tax assets will not be realized. Increases or decreases in the valuation reserve are charged or credited to the income tax provision. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that ultimately would be sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. The evaluation of a tax position taken is considered by itself and not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest and penalties associated with unrecognized tax benefits would be recognized in income tax expense on the income statement.
New Accounting PronouncementsASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." ASU 2016-13 was issued to replace the incurred loss impairment methodology in current GAAP with an expected credit loss methodology and requires consideration of a broader range of information to determine credit loss estimates. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. Purchased credit impaired loans will receive an allowance account at the acquisition date that represents a component of the purchase price allocation. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses, with such allowance limited to the amount by which fair value is below amortized cost. For public business entities, ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019. In May 2019, FASB issued ASU 2019-05, "Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief." ASU 2019-05 was issued to address concerns with the adoption of ASU 2016-13. ASU 2019-05 gives entities the ability to irrevocable elect the fair value option in Subtopic 825-10 for certain existing financial assets upon transition to ASU 2016-03. Financial assets that are eligible for this fair value election are those that qualify under Subtopic 825-10 and are within the scope of Subtopic 326-10, "Financial Instruments - Credit Losses - Measured at Amortized Costs." An exception to this is held-to-maturity debt securities, which do not qualify for this transition election. The effective date for the amendment is the same as the effective date in ASU 2016-03. In November 2019, FASB issued ASU 2019-10, "Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates." ASU 2019-10 was issued to defer the effective dates for certain guidance in its Accounting Standard Codification ("ASC") for certain entities. The amendments in this update amend the mandatory effective dates for ASC 326, "Financial Instruments - Credit Losses", for entities eligible to be smaller reporting companies as defined by the SEC for fiscal years beginning after December 15, 2022, including interim reporting periods within that reporting period. The Company is currently evaluating the impact of the adoption of ASU 2016-13 on its consolidated financial statements. In November 2019, FASB issued ASU 2019-11, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses." ASU 2019-11 was issued to address issues raise by stakeholders during the implementation of ASU 2016-13. ASU 2019-11 provides transition relief when adjusting the effective interest rate for troubled debt restructurings ("TDRs") that exist as of the adoption date, extends the disclosure relief in ASU 2019-04 to disclose accrued interest receivable balances separately from the amortized cost basis to additional disclosures involving amortized cost basis, and provides clarification regarding application of the guidance in paragraph 326-20-35-6 for financial assets secured by collateral maintenance provisions that provides a practical expedient to measure the estimate of expected credit losses by comparing the amortized cost basis of a financial asset and the fair value of collateral securing the financial asset as of the reporting date. The effective date and transition requirements for the amendment are the same as the effective date and transition requirements in ASU 2016-13. ASU 2017-04, "Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." ASU 2017-04 was issued in an effort to simplify accounting in a new standard. The amendments in this update require that an entity perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The amendment states that an entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, but the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. For public business entities, ASU 2017-04 is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performing on testing dates after January 1, 2017. The Company adopted this standard as of January 1, 2020. The adoption of this ASU did not have an impact on the Company’s consolidated financial statements since the fair values of our reporting units were not lower than their respective carrying amounts at the time of our goodwill impairment analysis. ASU 2019- 12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." ASU 2019-12 removes the exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items and removes the exception to the interim period income tax accounting when a year-to-date loss exceeds the anticipated loss for the year. ASU 2019-12 also simplifies the accounting for income taxes by requiring that an entity recognize a franchise tax that is partially based on income as an income-based tax, that an entity evaluate when a step up in the tax basis of goodwill should be considered part of the business combination in which the book goodwill originally was recognized, and that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. For public business entities, ASU 2019-12 is effective for interim and annual periods beginning after December 15, 2020. ASU 2020-01, "Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force)." ASU 2020-01 clarifies that the observable price changes in orderly transactions that should be considered when applying the measurement alternative in accordance with ASC 321 include transactions that require it to either apply or discontinue the equity method of accounting under ASC 323. ASU 2020-01 also addresses questions about how to apply the guidance in Topic 815, “Derivatives and Hedging,” for certain forward contracts and purchased options to purchase securities that, upon settlement or exercise, would be accounted for under the equity method of accounting. The ASU clarifies that, for the purpose of applying ASC 815-10-15-141(a), an entity should not consider whether, upon the settlement of the forward contract or exercise of the purchased option, the underlying securities would be accounted for under the equity method in ASC 323 or the fair value option in accordance with the financial instruments guidance in Topic 825, “Financial Instruments.” For public business entities, ASU 2020-01 is effective for interim and annual periods beginning after December 15, 2020. ASU 2020- 03, "Codification Improvement to Financial Instruments." ASU 2020-03 clarifies that all entities are required to provide the fair value option disclosures in paragraphs 825-10-50-24 through 50-32 of the FASB’s Accounting Standards Codification (ASC). ASU 2020-03 also clarifies that the contractual term of a net investment in a lease determined in accordance with ASC 842, “Leases,” should be the contractual term used to measure expected credit losses under ASC 326, “Financial Instruments – Credit Losses.” ASU 2020-03 also addresses amendments to ASC 860-20, “Transfers and Servicing – Sales of Financial Assets,” clarify that when an entity regains control of financial assets sold, an allowance for credit losses should be recorded in accordance with ASC 326. The effective date and transition requirements for the amendment are the same as the effective date and transition requirements in ASU 2016-13. ASU 2020- 04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." ASU 2020-04 provides temporary optional guidance intended to ease the burden of reference rate reform on financial reporting. The guidance provides optional expedients and exceptions for applying existing guidance to contract modifications, hedging relationships and other transactions that are expected to be affected by reference rate reform and meet certain scope guidance. ASU 2020-04 provides various optional expedients, including the following, for hedging relationships affected by reference rate reform, if certain criteria are met: ● An entity can change certain critical terms of the hedging instrument or hedged item or transaction without having to dedesignate the relationship. ● For fair value hedging relationships in which the designated interest rate is LIBOR or another rate that is expected to be discontinued, an entity may change the hedged risk to another permitted benchmark rate without dedesignating the relationship. ● For cash flow hedging relationships in which the designated hedged risk is LIBOR or another rate that is expected to be discontinued, an entity may assert that the occurrence of the hedged forecasted transaction remains probable. ● Certain qualifying conditions for the shortcut method and other methods that assume perfect effectiveness may be disregarded. ​ In addition, ASU 2020-04 permits an entity to make a one-time election to sell, transfer, or both sell and transfer debt securities classified as held to maturity that reference a rate affected by reference rate reform and that were classified as held to maturity before January 1, 2020. ASU 2020-04 was effective upon its issuance on March 12, 2020. However, it cannot be applied to contract modifications that occur after December 31, 2022. With certain exceptions, the ASU also cannot be applied to hedging relationships entered into or evaluated after that date.
Benefit PlansBenefit Plans In addition to the 401(k) savings plan which covers substantially all employees, in 2015 the Company established an unfunded supplemental defined benefit plan to provide additional retirement benefits for the President and Chief Executive Officer (“CEO”) and certain key executives. On June 4, 2015, the Company approved the Supplemental Executive Retirement Plan (“SERP”) pursuant to which the President and CEO is entitled to receive certain supplemental nonqualified retirement benefits. On September 27, 2018 the Company approved a change in calculation of the Retirement Benefit payable under the SERP so that the Retirement Benefit shall be an amount equal to sixty percent (60%) of the average of Executive’s base salary for the thirty-six The President and CEO commenced vesting in this retirement benefit on January 1, 2014, and vests an additional three percent (3%) each year until fully vested on January 1, 2024. In the event that the President and CEO’s separation from service from the Company were to occur prior to full vesting, the President and CEO would be entitled to and shall be paid the vested portion of the retirement benefit calculated as of the date of separation from service. Notwithstanding the foregoing, upon a Change in Control, and provided that within 6 months following the Change in Control the President and CEO is involuntarily terminated for reasons other than “cause” or the President and CEO resigns for “good reason,” as such is defined in the SERP, or the President and CEO voluntarily terminates his employment after being offered continued employment in a position that is not a “Comparable Position,” as such is also defined in the SERP, the President and CEO shall become one hundred percent (100%) vested in the full retirement benefit.
LeasesThe Company follows ASU 2016-02, "Leases (Topic 842)," Operating leases in which the Bank is the lessee are recorded as right-of-use ("ROU") assets and lease liabilities and are included in Prepaid expenses and other assets and Accrued expenses and other liabilities, respectively, on the Bank’s Consolidated Balance Sheets. The Bank does not currently have any finance leases in which it is the lessee. Operating lease ROU assets represent the Bank’s right to use an underlying asset during the lease term and operating lease liabilities represent its obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents our incremental borrowing rate. The incremental borrowing rate was calculated for each lease by taking a variable rate FHLB ARC product (based on Libor plus a spread) and then swapping it to a fixed rate borrowing by adding a fixed mid swap rate for the desired term. The borrowing rate for each lease is unique based on the lease term. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in Occupancy expense in the Consolidated Statements of Income. The Bank’s leases relate primarily to bank branches, office space and equipment with remaining lease terms of generally 1 to 10 years. Certain lease arrangements contain extension options which typically range from 1 to 5 years at the then fair market rental rates. As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term. Certain real estate leases have lease payments that adjust based on annual changes in the Consumer Price Index ("CPI"). The leases that are dependent upon CPI are initially measured using the index or rate at the commencement date and are included in the measurement of the lease liability.

Net Income per Share (Tables)

Net Income per Share (Tables)6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of Calculation of Basic and Diluted Income Per ShareThe following is a reconciliation of the calculation of basic and diluted income per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands, except per share amounts) 2020 2019 2020 2019 ​ Net income ​ $ 5,171 ​ $ 5,834 ​ $ 10,539 ​ $ 11,574 ​ Weighted average common shares outstanding - Basic ​ 10,792 ​ 10,843 ​ 10,838 ​ 10,822 ​ Plus: Potential dilutive common stock equivalents ​ 96 ​ 183 ​ 124 ​ 189 ​ Weighted average common shares outstanding - Diluted ​ 10,888 ​ 11,026 ​ 10,962 ​ 11,011 ​ Net income per common share - Basic ​ $ 0.48 ​ $ 0.54 ​ $ 0.97 ​ $ 1.07 ​ Net income per common share - Diluted ​ 0.47 ​ 0.53 ​ 0.96 ​ 1.05 ​ Stock options and common stock excluded from the income per share calculation as their effect would have been anti-dilutive ​ 450 ​ 251 ​ 403 ​ 230 ​

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)6 Months Ended
Jun. 30, 2020
Stockholders' Equity Note [Abstract]
Changes In Other Comprehensive (Loss) IncomeThe following tables show the changes in other comprehensive income (loss) for the three and six months ended June 30, 2020 and 2019, net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, 2020 ​ ​ Adjustments Net unrealized Accumulated ​ Net unrealized related to losses other ​ gains on defined benefit from cash flow comprehensive (In thousands) ​ securities plan hedges (loss) income Balance, beginning of period (1) $ 319 $ (280) $ (836) $ (797) Other comprehensive income (loss) before reclassifications ​ 362 ​ — ​ (241) ​ 121 Less amounts reclassified from accumulated other comprehensive income (loss) ​ 62 ​ (15) ​ — ​ 47 Period change ​ 300 ​ 15 ​ (241) ​ 74 Balance, end of period (1) ​ $ 619 ​ $ (265) ​ $ (1,077) ​ $ (723) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, 2019 ​ ​ Adjustments Net unrealized Accumulated ​ Net unrealized related to gains (losses) other ​ (losses) gains on defined benefit from cash flow comprehensive (In thousands) ​ securities plan hedges (loss) income Balance, beginning of period (1) $ (560) $ (340) $ 728 $ (172) Other comprehensive income (loss) before reclassifications ​ 631 ​ — ​ (415) ​ 216 Less amounts reclassified from accumulated other comprehensive income (loss) ​ 77 ​ (15) ​ — ​ 62 Period change ​ 554 ​ 15 ​ (415) ​ 154 Balance, end of period (1) ​ $ (6) ​ $ (325) ​ $ 313 ​ $ (18) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2020 ​ ​ Adjustments Net unrealized Accumulated ​ Net unrealized related to gains (losses) other ​ gains (losses) on defined benefit from cash flow comprehensive (In thousands) ​ securities plan hedges income (loss) Balance, beginning of period (1) $ 316 $ (295) $ 168 $ 189 Other comprehensive income (loss) before reclassifications ​ 231 ​ — ​ (1,245) ​ (1,014) Less amounts reclassified from accumulated other comprehensive loss ​ (72) ​ (30) ​ — ​ (102) Period change ​ 303 ​ 30 ​ (1,245) ​ (912) Balance, end of period (1) ​ $ 619 ​ $ (265) ​ $ (1,077) ​ $ (723) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2019 ​ ​ Adjustments Net unrealized Accumulated ​ Net unrealized related to gains (losses) other ​ (losses) gains on defined benefit from cash flow comprehensive (In thousands) ​ securities plan hedges (loss) income Balance, beginning of period (1) $ (721) $ (431) $ 1,030 $ (122) Other comprehensive income (loss) before reclassifications ​ 871 ​ — ​ (717) ​ 154 Less amounts reclassified from accumulated other comprehensive income (loss) ​ 156 ​ (106) ​ — ​ 50 Period change ​ 715 ​ 106 ​ (717) ​ 104 Balance, end of period (1) ​ $ (6) ​ $ (325) ​ $ 313 ​ $ (18) ​ (1) AOCI does not reflect the net reclassification of $35 thousand to Retained Earnings as a result of ASU 2016-01, "Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities" & ASU 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income".

Fair Value (Tables)

Fair Value (Tables)6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]
Reconciliation of Level 3 Available for Sale Debt Securities Measured at Fair Value on Recurring BasisThe following table presents a reconciliation of the Level 3 available for sale debt securities measured at fair value on a recurring basis for the three and six months ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) 2020 2019 Balance at beginning of period (1) $ 6,238 $ — Purchases/additions ​ ​ — ​ ​ — Sales/reductions ​ — ​ — Realized ​ — ​ — Unrealized ​ 5 ​ — Balance at end of period ​ $ 6,243 ​ $ — ​ ​ ​ ​ ​ ​ ​ (1) Includes AFS debt securities classified as Level 2 at December 31, 2019, which were transferred to Level 3 during the period ended June 30, 2020.
Balances of Assets And Liabilities Measured at Fair Value on Recurring BasisThe tables below present the balances of assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2020 Using ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ Assets/Liabilities ​ Active Markets ​ Significant Other ​ Significant ​ ​ Measured at Fair ​ for Identical ​ Observable ​ Unobservable (In thousands) Value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Measured on a recurring basis: ​ ​ ​ ​ Assets: ​ ​ ​ ​ Debt securities available for sale: ​ ​ ​ ​ U.S. Government sponsored entities ​ $ 2,772 ​ $ — ​ $ 2,772 ​ $ — State and political subdivisions ​ 3,334 ​ — ​ 3,334 ​ — Residential mortgage-backed securities ​ 22,373 ​ — ​ 22,373 ​ — Corporate and other securities ​ 24,623 ​ — ​ 18,380 ​ 6,243 Total debt securities available for sale ​ $ 53,102 ​ $ — ​ $ 46,859 ​ $ 6,243 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities with readily determinable fair values ​ 1,786 ​ — ​ 1,786 ​ — Total equity securities ​ $ 1,786 ​ $ — ​ $ 1,786 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ 11,707 ​ — ​ 11,707 ​ — Total loans held for sale ​ $ 11,707 ​ ​ — ​ $ 11,707 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swap agreements ​ (1,512) ​ — ​ (1,512) ​ — Total swap agreements ​ $ (1,512) ​ $ — ​ $ (1,512) ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value Measurements at December 31, 2019 Using ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ Assets/Liabilities ​ Active Markets ​ Significant Other ​ Significant ​ ​ Measured at Fair ​ for Identical ​ Observable ​ Unobservable (In thousands) Value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Measured on a recurring basis: ​ ​ ​ ​ Assets: ​ ​ ​ ​ Debt securities available for sale: ​ ​ ​ ​ U.S. Government sponsored entities ​ $ 5,753 ​ $ — ​ $ 5,753 ​ $ — State and political subdivisions ​ 5,154 ​ — ​ 5,154 ​ — Residential mortgage-backed securities ​ 27,964 ​ — ​ 27,964 ​ — Corporate and other securities ​ 25,404 ​ — ​ 25,404 ​ — Total debt securities available for sale ​ $ 64,275 ​ $ — ​ $ 64,275 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities with readily determinable fair values ​ 2,289 ​ — ​ 2,289 ​ — Total equity securities ​ $ 2,289 ​ $ — ​ $ 2,289 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans held for sale ​ 14,862 ​ — ​ 14,862 ​ — Total loans held for sale ​ $ 14,862 ​ ​ — ​ $ 14,862 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swap agreements ​ 238 ​ — ​ 238 ​ — Total swap agreements ​ $ 238 ​ $ — ​ $ 238 ​ $ —
Assets and Liabilities Subject to Fair Value Adjustments (Impairment) on Non-Recurring Basis Carried on Balance Sheet by Caption and by Level within HierarchyThe following tables present the assets and liabilities subject to fair value adjustments (impairment) on a non-recurring basis carried on the balance sheet by caption and by level within the hierarchy (as described above): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at June 30, 2020 Using ​ ​ ​ ​ ​ Quoted Prices ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Other ​ Significant ​ ​ ​ ​ ​ Assets/Liabilities ​ Markets for ​ Observable ​ Unobservable ​ Net Provision ​ ​ Measured at Fair ​ Identical Assets ​ Inputs ​ Inputs ​ During (In thousands) Value (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ OREO ​ $ 711 ​ $ — ​ $ — ​ $ 711 ​ $ (200) Impaired collateral-dependent loans ​ 9,004 ​ — ​ — ​ 9,004 ​ ​ 432 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2019 Using ​ ​ ​ ​ ​ Quoted Prices ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Other ​ Significant ​ ​ ​ ​ ​ Assets/Liabilities ​ Markets for ​ Observable ​ Unobservable ​ Net Credit ​ ​ Measured at Fair ​ Identical Assets ​ Inputs ​ Inputs ​ During (In thousands) Value (Level 1) (Level 2) (Level 3) Period Financial assets: ​ ​ ​ ​ ​ OREO ​ $ 1,723 ​ $ — ​ $ — ​ $ 1,723 ​ $ (231) Impaired collateral-dependent loans ​ 1,925 ​ — ​ — ​ 1,925 ​ (253)
Carrying Amount and Estimated Fair Values of Financial InstrumentsThe table below presents the carrying amount and estimated fair values of the Company’s financial instruments presented as of June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ ​ Fair value ​ Carrying ​ Estimated ​ Carrying ​ Estimated (In thousands) level amount fair value amount fair value Financial assets: ​ ​ ​ ​ Cash and cash equivalents Level 1 ​ $ 186,683 ​ $ 186,683 ​ $ 158,016 ​ $ 158,016 Securities (1) Level 2 ​ 54,888 ​ 54,888 ​ 66,564 ​ 66,564 SBA loans held for sale Level 2 ​ 10,602 ​ 11,707 ​ 13,529 ​ 14,862 Loans, net of allowance for loan losses (2) Level 2 ​ 1,561,671 ​ 1,581,341 ​ 1,395,634 ​ 1,398,997 FHLB stock Level 2 ​ 11,629 ​ 11,629 ​ 14,184 ​ 14,184 Servicing assets Level 3 ​ 2,138 ​ 2,138 ​ 2,026 ​ 2,026 Accrued interest receivable Level 2 ​ 11,039 ​ 11,039 ​ 6,984 ​ 6,984 OREO Level 3 ​ 711 ​ ​ 711 ​ ​ 1,723 ​ 1,723 Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits Level 2 ​ 1,483,457 ​ 1,489,973 ​ 1,250,114 ​ 1,252,082 Borrowed funds and subordinated debentures Level 2 ​ 233,310 ​ 235,645 ​ 293,310 ​ 292,766 Accrued interest payable Level 2 ​ 228 ​ 228 ​ 455 ​ 455 ​ (1) Includes corporate securities that are considered Level 3 and reported separately in the table under the “Fair Value on a Recurring Basis” heading. These securities had book values of $6.2 million and market values of $6.2 million. (2) Includes collateral-dependent impaired loans that are considered Level 3 and reported separately in the tables under the “Fair Value on a Nonrecurring Basis” heading. Collateral-dependent impaired loans, net of specific reserves totaled $9.0 million and $1.9 million at June 30, 2020 and December 31, 2019, respectively.

Securities (Tables)

Securities (Tables)6 Months Ended
Jun. 30, 2020
Marketable Securities [Abstract]
Reconciliation from Amortized Cost to Estimated Fair Value of Marketable SecuritiesThis table provides the major components of debt securities available for sale ("AFS") and equity securities with readily determinable fair values ("equity securities") at amortized cost and estimated fair value at June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ ​ ​ Gross Gross ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ Amortized ​ unrealized ​ unrealized ​ Estimated ​ Amortized ​ unrealized ​ unrealized ​ Estimated (In thousands) ​ cost ​ gains ​ losses ​ fair value ​ cost ​ gains ​ losses ​ fair value Available for sale: ​ ​ ​ ​ ​ ​ ​ ​ U.S. Government sponsored entities ​ $ 2,749 ​ $ 23 ​ $ — ​ $ 2,772 ​ $ 5,751 ​ $ 4 ​ $ (2) ​ $ 5,753 State and political subdivisions ​ 3,320 ​ 24 ​ (10) ​ 3,334 ​ 4,992 ​ 174 ​ (12) ​ 5,154 Residential mortgage-backed securities ​ 21,463 ​ 916 ​ (6) ​ 22,373 ​ 27,698 ​ 372 ​ (106) ​ 27,964 Corporate and other securities ​ 24,756 ​ 174 ​ (307) ​ 24,623 ​ 25,442 ​ 230 ​ (268) ​ 25,404 Total debt securities available for sale ​ $ 52,288 ​ $ 1,137 ​ $ (323) ​ $ 53,102 ​ $ 63,883 ​ $ 780 ​ $ (388) ​ $ 64,275 Equity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total equity securities ​ $ 2,112 ​ $ — ​ $ (326) ​ $ 1,786 ​ $ 2,218 ​ $ 142 ​ $ (71) ​ $ 2,289
Schedule of Marketable Securities by Contractual MaturityThis table provides the remaining contractual maturities and yields of securities within the investment portfolios. The carrying value of securities at June 30, 2020 is distributed by contractual maturity. Mortgage-backed securities and other securities, which may have principal prepayment provisions, are distributed based on contractual maturity. Expected maturities will differ materially from contractual maturities as a result of early prepayments and calls. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ After one through ​ After five through ​ ​ ​ ​ ​ ​ Total carrying ​ ​ Within one year ​ five years ​ ten years ​ After ten years ​ value (In thousands, except percentages) Amount Yield Amount Yield Amount Yield Amount Yield Amount Yield Available for sale at fair value: ​ ​ ​ ​ ​ ​ U.S. Government sponsored entities ​ $ 2,772 1.57 % $ — — % $ — — % $ — — % $ 2,772 1.57 % State and political subdivisions ​ 1,146 1.48 ​ 884 3.29 ​ 502 5.06 ​ 802 2.74 ​ 3,334 2.80 ​ Residential mortgage-backed securities ​ 1 4.48 ​ 278 2.37 ​ 2,202 2.48 ​ 19,892 2.63 ​ 22,373 2.61 ​ Corporate and other securities ​ — — ​ 1,611 3.00 ​ 17,769 4.48 ​ 5,243 4.38 ​ 24,623 4.36 ​ Total debt securities available for sale ​ $ 3,919 1.54 % $ 2,773 3.03 % $ 20,473 4.28 % $ 25,937 2.99 % $ 53,102 3.38 % Equity Securities at fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ Total equity securities ​ $ — — % $ — — % $ — — % $ 1,786 2.58 % $ 1,786 2.58 %
Schedule of Marketable Securities in Unrealized Loss PositionThe fair value of securities with unrealized losses by length of time that the individual securities have been in a continuous unrealized loss position at June 30, 2020 and December 31, 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ ​ ​ Less than 12 months ​ 12 months and greater ​ Total ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ number in a ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized (In thousands, except number in a loss position) ​ loss position ​ fair value ​ loss ​ fair value ​ loss ​ fair value ​ loss Available for sale: ​ ​ ​ ​ ​ ​ State and political subdivisions 1 ​ $ — ​ $ — ​ $ 802 ​ $ (10) ​ $ 802 ​ $ (10) Residential mortgage-backed securities 3 ​ 996 ​ (6) ​ 402 ​ — ​ 1,398 ​ (6) Corporate and other securities 8 ​ 6,277 ​ (76) ​ 3,759 ​ (231) ​ 10,036 ​ (307) Total temporarily impaired securities 12 ​ $ 7,273 ​ $ (82) ​ $ 4,963 ​ $ (241) ​ $ 12,236 ​ $ (323) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ Less than 12 months ​ 12 months and greater ​ Total ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ number in a ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized (In thousands, except number in a loss position) ​ loss position ​ fair value ​ loss ​ fair value ​ loss ​ fair value ​ loss Available for sale: ​ ​ ​ ​ ​ ​ U.S. Government sponsored entities 1 ​ $ — ​ $ — ​ $ 1,995 ​ $ (2) ​ $ 1,995 ​ $ (2) State and political subdivisions 1 ​ — ​ — ​ 1,013 ​ (12) ​ 1,013 ​ (12) Residential mortgage-backed securities 10 ​ 3,707 ​ (27) ​ 4,996 ​ (79) ​ 8,703 ​ (106) Corporate and other securities 6 ​ 3,366 ​ (13) ​ 3,735 ​ (255) ​ 7,101 ​ (268) Total temporarily impaired securities 18 ​ $ 7,073 ​ $ (40) ​ $ 11,739 ​ $ (348) ​ $ 18,812 ​ $ (388)
Schedule of Realized Gain (Loss)Gross realized gains and losses on securities for the three and six months ended June 30, 2020 and 2019 are detailed in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) 2020 2019 ​ 2020 2019 ​ Available for sale: ​ ​ ​ ​ ​ ​ Realized gains ​ $ 5 ​ $ — ​ $ 301 ​ $ — ​ Realized losses ​ — ​ — ​ — ​ — ​ Total debt securities available for sale ​ 5 ​ — ​ 301 ​ — ​ Net gains on sales of securities ​ $ 5 ​ $ — ​ $ 301 ​ $ — ​
Equity Securities, Gains and LossesThe following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three and six months ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) 2020 2019 2020 2019 ​ Net gains (losses) recognized during the period on equity securities ​ $ 74 ​ $ 98 ​ $ (397) ​ $ 198 ​ Net gains recognized during the period on equity securities sold during the period ​ — ​ — ​ 5 ​ — ​ Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date ​ $ 74 ​ $ 98 ​ $ (392) ​ $ 198 ​

Loans (Tables)

Loans (Tables)6 Months Ended
Jun. 30, 2020
Loans and Leases Receivable Disclosure [Abstract]
Classification of Loans By ClassThe following table sets forth the classification of loans by class, including unearned fees, deferred costs and excluding the allowance for loan losses as of June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) June 30, 2020 December 31, 2019 SBA loans held for investment ​ $ 36,966 ​ $ 35,767 SBA PPP loans ​ ​ 136,039 ​ ​ — Commercial loans ​ ​ SBA 504 loans ​ 23,299 ​ 26,726 Commercial other ​ 121,961 ​ 112,014 Commercial real estate ​ 586,332 ​ 578,643 Commercial real estate construction ​ 61,160 ​ 47,649 Residential mortgage loans ​ 469,987 ​ 467,706 Consumer loans ​ ​ ​ ​ Home equity ​ 67,592 ​ 69,589 Consumer other ​ 78,569 ​ 73,935 Total loans held for investment ​ $ 1,581,905 ​ $ 1,412,029 SBA loans held for sale ​ 10,602 ​ 13,529 Total loans ​ $ 1,592,507 ​ $ 1,425,558
Loan Portfolio by Class According to Credit Quality IndicatorsThe tables below detail the Company’s loan portfolio by class according to their credit quality indicators discussed in the paragraphs above as of June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ SBA & Commercial loans - Internal risk ratings (In thousands) Pass Special mention Substandard Total SBA loans held for investment ​ $ 35,691 ​ $ — ​ $ 1,275 ​ $ 36,966 SBA PPP loans ​ ​ 136,007 ​ ​ — ​ ​ 32 ​ ​ 136,039 Commercial loans ​ ​ ​ ​ SBA 504 loans ​ 23,275 ​ — ​ 24 ​ 23,299 Commercial other ​ 117,793 ​ 2,500 ​ 1,668 ​ 121,961 Commercial real estate ​ 568,819 ​ 46 ​ 17,467 ​ 586,332 Commercial real estate construction ​ 61,160 ​ — ​ — ​ 61,160 Total commercial loans ​ 771,047 ​ 2,546 ​ 19,159 ​ 792,752 Total SBA and commercial loans ​ $ 942,745 ​ $ 2,546 ​ $ 20,466 ​ $ 965,757 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage & Consumer loans - Performing/Nonperforming (In thousands) ​ ​ Performing Nonperforming Total Residential mortgage loans ​ ​ ​ ​ $ 463,795 ​ $ 6,192 ​ $ 469,987 Consumer loans ​ ​ ​ ​ ​ ​ ​ Home equity ​ ​ ​ ​ 67,087 ​ 505 ​ 67,592 Consumer other ​ ​ ​ ​ 78,569 ​ — ​ 78,569 Total consumer loans ​ ​ ​ ​ 145,656 ​ 505 ​ 146,161 Total residential mortgage and consumer loans ​ ​ ​ ​ $ 609,451 ​ $ 6,697 ​ $ 616,148 ​ The tables below detail the Company’s loan portfolio by class according to their credit quality indicators discussed in the paragraphs above as of December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ SBA & Commercial loans - Internal risk ratings (In thousands) Pass Special mention Substandard Total SBA loans held for investment ​ $ 34,202 ​ $ 1,115 ​ $ 450 ​ $ 35,767 Commercial loans ​ ​ ​ ​ SBA 504 loans ​ 24,878 ​ 1,808 ​ 40 ​ 26,726 Commercial other ​ 107,220 ​ 3,361 ​ 1,433 ​ 112,014 Commercial real estate ​ 576,326 ​ 758 ​ 1,559 ​ 578,643 Commercial real estate construction ​ 47,649 ​ — ​ — ​ 47,649 Total commercial loans ​ 756,073 ​ 5,927 ​ 3,032 ​ 765,032 Total SBA and commercial loans ​ $ 790,275 ​ $ 7,042 ​ $ 3,482 ​ $ 800,799 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage & Consumer loans - Performing/Nonperforming (In thousands) ​ ​ Performing ​ Nonperforming ​ Total Residential mortgage loans ​ ​ $ 463,770 ​ $ 3,936 ​ $ 467,706 Consumer loans ​ ​ ​ ​ Home equity ​ ​ 69,589 ​ — ​ 69,589 Consumer other ​ ​ 73,915 ​ 20 ​ 73,935 Total consumer loans ​ ​ 143,504 ​ 20 ​ 143,524 Total residential mortgage and consumer loans ​ ​ $ 607,274 ​ $ 3,956 ​ $ 611,230
Aging Analysis of Past Due and Nonaccrual Loans by Loan ClassThe following tables set forth an aging analysis of past due and nonaccrual loans as of June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ ​ ​ ​ ​ 90+ days ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 ‑ 59 days ​ 60 ‑ 89 days ​ and still ​ Nonaccrual ​ Total past ​ ​ ​ ​ ​ ​ (In thousands) ​ past due ​ past due ​ accruing ​ (1) ​ due ​ Current ​ Total loans SBA loans held for investment ​ $ 828 ​ $ 606 ​ $ — ​ $ 2,331 ​ $ 3,765 ​ $ 33,201 ​ $ 36,966 SBA PPP loans ​ ​ — ​ ​ — ​ ​ — ​ ​ 32 ​ ​ 32 ​ ​ 136,007 ​ ​ 136,039 Commercial loans ​ ​ ​ ​ ​ ​ ​ ​ SBA 504 loans ​ — ​ — ​ — ​ — ​ — ​ 23,299 ​ 23,299 Commercial other ​ — ​ 71 ​ — ​ 10 ​ 81 ​ 121,880 ​ 121,961 Commercial real estate ​ — ​ — ​ — ​ 403 ​ 403 ​ 585,929 ​ 586,332 Commercial real estate construction ​ — ​ — ​ — ​ — ​ — ​ 61,160 ​ 61,160 Residential mortgage loans ​ 2,958 ​ — ​ — ​ 6,192 ​ 9,150 ​ 460,837 ​ 469,987 Consumer loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ 170 ​ — ​ — ​ 505 ​ 675 ​ 66,917 ​ 67,592 Consumer other ​ — ​ — ​ — ​ — ​ — ​ 78,569 ​ 78,569 Total loans held for investment ​ ​ 3,956 ​ ​ 677 ​ ​ — ​ ​ 9,473 ​ ​ 14,106 ​ ​ 1,567,799 ​ ​ 1,581,905 SBA loans held for sale ​ — ​ — ​ — ​ — ​ — ​ 10,602 ​ 10,602 Total loans ​ $ 3,956 ​ $ 677 ​ $ — ​ $ 9,473 ​ $ 14,106 ​ $ 1,578,401 ​ $ 1,592,507 ​ (1) At June 30, 2020, nonaccrual loans included $307 thousand of loans guaranteed by the SBA. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ ​ ​ ​ 90+ days ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30 ‑ 59 days ​ 60 ‑ 89 days ​ and still ​ Nonaccrual ​ Total past ​ ​ ​ ​ ​ ​ (In thousands) ​ past due ​ past due ​ accruing ​ (1) ​ due ​ Current ​ Total loans SBA loans held for investment ​ $ 1,048 ​ $ — ​ $ — ​ $ 1,164 ​ $ 2,212 ​ $ 33,555 ​ $ 35,767 Commercial loans ​ ​ ​ ​ ​ ​ ​ SBA 504 loans ​ — ​ 1,808 ​ — ​ — ​ 1,808 ​ 24,918 ​ 26,726 Commercial other ​ 71 ​ — ​ — ​ 316 ​ 387 ​ 111,627 ​ 112,014 Commercial real estate ​ 215 ​ — ​ — ​ 213 ​ 428 ​ 578,215 ​ 578,643 Commercial real estate construction ​ — ​ — ​ — ​ — ​ — ​ 47,649 ​ 47,649 Residential mortgage loans ​ 4,383 ​ 1,676 ​ 930 ​ 3,936 ​ 10,925 ​ 456,781 ​ 467,706 Consumer loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ 1,446 ​ 178 ​ — ​ — ​ 1,624 ​ 67,965 ​ 69,589 Consumer other ​ — ​ 113 ​ — ​ 20 ​ 133 ​ 73,802 ​ 73,935 Total loans held for investment ​ ​ 7,163 ​ ​ 3,775 ​ ​ 930 ​ ​ 5,649 ​ ​ 17,517 ​ ​ 1,394,512 ​ ​ 1,412,029 SBA loans held for sale ​ — ​ — ​ — ​ — ​ — ​ 13,529 ​ 13,529 Total loans ​ $ 7,163 ​ $ 3,775 ​ $ 930 ​ $ 5,649 ​ $ 17,517 ​ $ 1,408,041 ​ $ 1,425,558 ​ (1) At December 31, 2019, nonaccrual loans included $59 thousand of loans guaranteed by the SBA.
Impaired Loans with Associated Allowance AmountThe following table provides detail on the Company’s impaired loans that are individually evaluated for impairment with the associated allowance amount, if applicable, as of June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ Unpaid ​ ​ ​ ​ ​ ​ principal ​ Recorded ​ Specific (In thousands) ​ balance ​ investment ​ reserves With no related allowance: ​ ​ ​ ​ SBA loans held for investment (1) ​ $ 1,884 ​ $ 1,784 ​ $ — Commercial loans ​ ​ ​ Commercial other ​ ​ 684 ​ ​ 684 ​ ​ — Total commercial loans ​ 684 ​ 684 ​ — Residential mortgage loans ​ ​ 4,871 ​ ​ 4,766 ​ ​ — Consumer loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ ​ 505 ​ ​ 505 ​ ​ — Total impaired loans with no related allowance ​ 7,944 ​ 7,739 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ With an allowance: ​ ​ ​ SBA loans held for investment (1) ​ 356 ​ 272 ​ 177 Commercial loans ​ ​ ​ Commercial other ​ 28 ​ 10 ​ 10 Commercial real estate ​ 903 ​ 403 ​ 403 Total commercial loans ​ 931 ​ 413 ​ 413 Residential mortgage loans ​ ​ 1,426 ​ ​ 1,426 ​ ​ 256 Total impaired loans with a related allowance ​ 2,713 ​ 2,111 ​ 846 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total individually evaluated impaired loans: ​ ​ ​ SBA loans held for investment (1) ​ 2,240 ​ 2,056 ​ 177 Commercial loans ​ ​ ​ Commercial other ​ 28 ​ 10 ​ 10 Commercial real estate ​ 1,587 ​ 1,087 ​ 403 Total commercial loans ​ 1,615 ​ 1,097 ​ 413 Residential mortgage loans ​ ​ 6,297 ​ ​ 6,192 ​ ​ 256 Consumer loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ ​ 505 ​ ​ 505 ​ ​ — Total individually evaluated impaired loans ​ $ 10,657 ​ $ 9,850 ​ $ 846 ​ (1) Balances are reduced by amount guaranteed by the SBA of $307 thousand at June 30, 2020. The following table provides detail on the Company’s impaired loans that are individually evaluated for impairment with the associated allowance amount, if applicable, as of December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Unpaid ​ ​ ​ ​ ​ ​ principal ​ Recorded ​ Specific (In thousands) ​ balance ​ investment ​ reserves With no related allowance: ​ ​ ​ ​ SBA loans held for investment (1) ​ $ 1,224 ​ $ 1,064 ​ $ — Commercial loans ​ ​ ​ Commercial real estate ​ 213 ​ 213 ​ — Total commercial loans ​ 213 ​ 213 ​ — Total impaired loans with no related allowance ​ 1,437 ​ 1,277 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ With an allowance: ​ ​ ​ SBA loans held for investment (1) ​ 157 ​ 41 ​ 41 Commercial loans ​ ​ ​ Commercial other ​ 816 ​ 316 ​ 316 Commercial real estate ​ 705 ​ 705 ​ 57 Total commercial loans ​ 1,521 ​ 1,021 ​ 373 Total impaired loans with a related allowance ​ 1,678 ​ 1,062 ​ 414 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total individually evaluated impaired loans: ​ ​ ​ SBA loans held for investment (1) ​ 1,381 ​ 1,105 ​ 41 Commercial loans ​ ​ ​ ​ ​ ​ Commercial other ​ 816 ​ 316 ​ 316 Commercial real estate ​ 918 ​ 918 ​ 57 Total commercial loans ​ 1,734 ​ 1,234 ​ 373 Total individually evaluated impaired loans ​ $ 3,115 ​ $ 2,339 ​ $ 414 ​ (1) Balances are reduced by amount guaranteed by the SBA of $59 thousand at December 31, 2019.
Average Recorded Investments in Impaired Loans and Related Amount of Interest RecognizedThe following table presents the average recorded investments in impaired loans and the related amount of interest recognized during the time period in which the loans were impaired for the three and six months ended June 30, 2020 and 2019. The average balances are calculated based on the month-end balances of impaired loans. When the ultimate collectability of the total principal of an impaired loan is in doubt and the loan is on nonaccrual status, all payments are applied to principal under the cost recovery method, and therefore no interest income is recognized. The interest income recognized on impaired loans noted below represents primarily accruing TDRs and nominal amounts of income recognized on a cash basis for well-collateralized impaired loans. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ ​ ​ 2020 ​ 2019 ​ ​ ​ ​ Interest ​ ​ Interest ​ ​ ​ ​ ​ ​ income ​ ​ ​ ​ income ​ ​ ​ Average ​ recognized ​ Average ​ recognized ​ ​ ​ recorded ​ on impaired ​ recorded ​ on impaired ​ (In thousands) ​ investment ​ loans ​ investment ​ loans ​ SBA loans held for investment (1) ​ $ 1,265 ​ $ 3 ​ $ 618 ​ $ 4 ​ Commercial loans ​ ​ ​ ​ ​ ​ Commercial other ​ 99 ​ 12 ​ — ​ — ​ Commercial real estate ​ 1,282 ​ 33 ​ 1,486 ​ 9 ​ Residential mortgage loans ​ ​ 6,054 ​ ​ 52 ​ ​ — ​ ​ — ​ Consumer loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ ​ 505 ​ ​ 4 ​ ​ — ​ ​ — ​ Total ​ $ 9,205 ​ $ 104 ​ $ 2,104 ​ $ 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, ​ ​ 2020 ​ 2019 ​ ​ ​ Interest ​ ​ Interest ​ ​ ​ ​ ​ income ​ ​ ​ ​ income ​ ​ Average ​ recognized ​ Average ​ recognized ​ ​ recorded ​ on impaired ​ recorded ​ on impaired (In thousands) ​ investment ​ loans ​ investment ​ loans SBA loans held for investment (1) ​ $ 1,197 ​ $ 6 ​ $ 901 ​ $ 8 Commercial loans ​ ​ ​ ​ SBA 504 loans ​ 300 ​ 32 ​ — ​ — Commercial other ​ 52 ​ 21 ​ 4 ​ — Commercial real estate ​ 1,165 ​ 45 ​ 1,637 ​ 17 Residential mortgage loans ​ ​ 5,875 ​ ​ 81 ​ ​ — ​ ​ — Consumer loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home equity ​ ​ 424 ​ ​ 9 ​ ​ — ​ ​ — Consumer other ​ ​ 38 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 9,051 ​ $ 194 ​ $ 2,542 ​ $ 25 ​ (1) Balances are reduced by the average amount guaranteed by the SBA of $418 thousand and $84 thousand for the six months ended June 30, 2020 and 2019, respectively.

Allowance for Loan Losses and_2

Allowance for Loan Losses and Reserve for Unfunded Loan Commitments (Tables)6 Months Ended
Jun. 30, 2020Jun. 30, 2019
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Activity in Allowance for Loan Losses by Portfolio SegmentThe following tables detail the activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, 2020 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Balance, beginning of period ​ $ 1,005 ​ $ 10,129 ​ $ 4,763 ​ $ 1,479 ​ $ 17,376 Charge-offs ​ — ​ (219) ​ — ​ — ​ (219) Recoveries ​ 75 ​ 502 ​ — ​ — ​ 577 Net recoveries ​ 75 ​ 283 ​ — ​ — ​ 358 Provision for (credit to) loan losses charged to expense ​ (76) ​ 1,924 ​ 676 ​ (24) ​ 2,500 Balance, end of period ​ $ 1,004 ​ $ 12,336 ​ $ 5,439 ​ $ 1,455 ​ $ 20,234 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, 2019 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Balance, beginning of period ​ $ 1,678 ​ $ 8,793 ​ $ 4,016 ​ $ 1,197 ​ $ 15,684 Charge-offs ​ (84) ​ — ​ — ​ — ​ (84) Recoveries ​ 1 ​ 4 ​ — ​ 10 ​ 15 Net (charge-offs) recoveries ​ (83) ​ 4 ​ — ​ 10 ​ (69) Provision for (credit to) loan losses charged to expense ​ (274) ​ 347 ​ 182 ​ 95 ​ 350 Balance, end of period ​ $ 1,321 ​ $ 9,144 ​ $ 4,198 ​ $ 1,302 ​ $ 15,965 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2020 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Balance, beginning of period ​ $ 1,079 ​ $ 9,722 ​ $ 4,254 ​ $ 1,340 ​ $ 16,395 Charge-offs ​ (25) ​ (519) ​ (200) ​ — ​ (744) Recoveries ​ 80 ​ 503 ​ — ​ — ​ 583 Net recoveries (charge-offs) ​ 55 ​ (16) ​ (200) ​ — ​ (161) Provision (credit) for loan losses charged to expense ​ (130) ​ 2,630 ​ 1,385 ​ 115 ​ 4,000 Balance, end of period ​ $ 1,004 ​ $ 12,336 ​ $ 5,439 ​ $ 1,455 ​ $ 20,234 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2019 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Balance, beginning of period ​ $ 1,655 ​ $ 8,705 ​ $ 3,900 ​ $ 1,228 ​ $ 15,488 Charge-offs ​ (393) ​ (1) ​ — ​ (1) ​ (395) Recoveries ​ 3 ​ 9 ​ — ​ 10 ​ 22 Net (charge-offs) recoveries ​ (390) ​ 8 ​ — ​ 9 ​ (373) Provision for loan losses charged to expense ​ 56 ​ 431 ​ 298 ​ 65 ​ 850 Balance, end of period ​ $ 1,321 ​ $ 9,144 ​ $ 4,198 ​ $ 1,302 ​ $ 15,965
Allowance for Credit Losses on Financing Receivables on Basis of Impairment MethodThe following tables present loans and their related allowance for loan losses, by portfolio segment, as of June 30, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Allowance for loan losses ending balance: ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 177 ​ $ 413 ​ $ 256 ​ $ — ​ $ 846 Collectively evaluated for impairment ​ 827 ​ 11,923 ​ 5,183 ​ 1,455 ​ 19,388 Total ​ $ 1,004 ​ $ 12,336 ​ $ 5,439 ​ $ 1,455 ​ $ 20,234 Loan ending balances: ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 2,056 ​ $ 1,097 ​ $ 6,192 ​ $ 505 ​ $ 9,850 Collectively evaluated for impairment ​ 170,949 ​ 791,655 ​ 463,795 ​ 145,656 ​ 1,572,055 Total ​ $ 173,005 ​ $ 792,752 ​ $ 469,987 ​ $ 146,161 ​ $ 1,581,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ SBA held ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ investment ​ Commercial ​ Residential ​ Consumer ​ Total Allowance for loan losses ending balance: ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 41 ​ $ 373 ​ $ — ​ $ — ​ $ 414 Collectively evaluated for impairment ​ 1,038 ​ 9,349 ​ 4,254 ​ 1,340 ​ 15,981 Total ​ $ 1,079 ​ $ 9,722 ​ $ 4,254 ​ $ 1,340 ​ $ 16,395 Loan ending balances: ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 1,105 ​ $ 1,234 ​ $ — ​ $ — ​ $ 2,339 Collectively evaluated for impairment ​ 34,662 ​ 763,798 ​ 467,706 ​ 143,524 ​ 1,409,690 Total ​ $ 35,767 ​ $ 765,032 ​ $ 467,706 ​ $ 143,524 ​ $ 1,412,029

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands, except percentages and years) June 30, 2020 December 31, 2019 Notional amount ​ $ 100,000 ​ $ 60,000 ​ Fair value ​ $ (1,512) ​ $ 238 ​ Weighted average pay rate ​ 1.19 % 1.42 % Weighted average receive rate ​ 1.24 % 2.19 % Weighted average maturity in years ​ 2.33 ​ 1.25 ​ Number of contracts ​ 6 ​ 4 ​
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) 2020 2019 ​ 2020 2019 ​ Unrealized losses relating to interest rate swaps $ (340) $ (584) ​ (1,750) (965) ​

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)6 Months Ended
Jun. 30, 2020Jun. 30, 2019
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract]
Transactions Under the Company's Stock Option Plans​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ average ​ ​ ​ ​ ​ ​ ​ average ​ remaining ​ Aggregate ​ ​ ​ ​ exercise ​ contractual ​ intrinsic ​ ​ Shares ​ price ​ life in years ​ value Outstanding at December 31, 2019 614,311 ​ $ 14.78 6.9 ​ $ 4,783,402 Options granted 101,000 ​ 20.39 ​ ​ ​ Options exercised (54,611) ​ 7.24 ​ ​ ​ Options forfeited (9,999) ​ 20.79 ​ ​ ​ Options expired — ​ — ​ ​ ​ Outstanding at June 30, 2020 650,701 ​ $ 16.19 7.0 ​ $ 1,235,282 Exercisable at June 30, 2020 ​ 387,870 ​ $ 13.21 5.7 ​ $ 1,235,282
Stock Options, Valuation AssumptionsThe fair values of the options granted during the three and six months ended June 30, 2020 and 2019 were estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ ​ For the six months ended June 30, ​ ​ 2020 2019 ​ 2020 2019 ​ Number of options granted ​ — ​ — ​ ​ 101,000 ​ 55,000 ​ Weighted average exercise price ​ $ — ​ $ — ​ ​ $ 20.39 ​ $ 20.61 ​ Weighted average fair value of options ​ $ — ​ $ — ​ ​ $ 5.54 ​ $ 6.21 ​ Expected life in years (1) ​ 0.00 ​ 0.00 ​ ​ 8.66 ​ 8.23 ​ Expected volatility (2) ​ — % — % ​ 27.13 % 27.08 % Risk-free interest rate (3) ​ — % — % ​ 1.55 % 2.55 % Dividend yield (4) ​ — % — % ​ 1.61 % 1.36 % ​ (1) The expected life of the options was estimated based on historical employee behavior and represents the period of time that options granted are expected to be outstanding. (2) The expected volatility of the Company’s stock price was based on the historical volatility over the period commensurate with the expected life of the options. (3) The risk-free interest rate is the U.S. Treasury rate commensurate with the expected life of the options on the date of grant. (4) The expected dividend yield is the projected annual yield based on the grant date stock price.
Schedule of Cash Proceeds Received from Share-based Payment AwardsUpon exercise, the Company issues shares from its authorized but unissued common stock to satisfy the options. The following table presents information about options exercised during the three and six months ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2020 2019 2020 2019 ​ Number of options exercised ​ 49,111 ​ 32,000 ​ ​ 54,611 ​ 52,434 ​ Total intrinsic value of options exercised ​ $ 388,981 ​ $ 464,208 ​ $ 475,222 ​ $ 704,610 ​ Cash received from options exercised ​ $ 361,253 ​ $ 197,121 ​ $ 395,518 ​ $ 363,064 ​ Tax deduction realized from options ​ $ 113,952 ​ $ 139,657 ​ $ 139,216 ​ $ 211,982 ​
Schedule of Stock Options, by Exercise Price RangeThe following table summarizes information about stock options outstanding and exercisable at June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options outstanding ​ Options exercisable ​ ​ ​ Weighted average Weighted ​ Weighted ​ ​ Options ​ remaining contractual ​ average ​ Options ​ average Range of exercise prices ​ outstanding ​ life (in years) ​ exercise price ​ exercisable ​ exercise price $0.00 - $6.00 44,000 2.0 ​ $ 5.65 44,000 ​ $ 5.65 $6.01 - $12.00 156,667 4.7 ​ 8.85 156,667 ​ 8.85 $12.01 - $18.00 102,533 7.6 ​ 15.94 67,533 ​ 15.78 $18.01 - $24.00 347,501 8.5 ​ 20.92 119,670 ​ 20.26 Total 650,701 7.0 ​ $ 16.19 387,870 ​ $ 13.21
Allocation of Share-based Compensation CostsCompensation expense related to restricted stock for the three and six months ended June 30, 2020 and 2019 is detailed in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2020 2019 ​ 2020 2019 ​ Compensation expense ​ $ 161,173 ​ $ 166,620 ​ $ 334,078 ​ $ 312,908 ​ Income tax benefit ​ $ 46,580 ​ $ 48,153 ​ $ 96,549 ​ $ 90,430 ​Compensation expense related to stock options and the related income tax benefit for the three and six months ended June 30, 2020 and 2019 are detailed in the following table:
Summary of Nonvested Restricted Stock Activity​ ​ ​ ​ ​ ​ ​ ​ ​ Average grant ​ ​ Shares ​ date fair value Nonvested restricted stock at December 31, 2019 108,740 ​ $ 19.18 Granted 15,000 ​ 16.63 Cancelled (5,937) ​ 19.97 Vested (33,718) ​ 17.08 Nonvested restricted stock at June 30, 2020 84,085 ​ $ 19.51
Restricted Stock GrantsRestricted stock awards granted during the three and six months ended June 30, 2020 and 2019 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2020 2019 ​ 2020 2019 ​ Number of shares granted ​ — ​ — ​ ​ 15,000 ​ 30,150 ​ Average grant date fair value ​ $ — ​ $ — ​ $ 16.63 ​ $ 20.65 ​
Summary of Components of Net Periodic Pension Cost of Defined Benefit Plan Recognized​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) 2020 2019 ​ 2020 2019 ​ Service cost ​ $ 32 ​ $ 172 ​ $ 63 ​ $ 219 ​ Interest cost ​ 37 ​ 34 ​ 74 ​ 63 ​ Amortization of prior service cost ​ 21 ​ 21 ​ 42 ​ 42 ​ Net periodic benefit cost ​ $ 90 ​ $ 227 ​ $ 179 ​ $ 324 ​
Summary Of Changes In Benefit Obligations Of Defined Benefit PlanThe following table summarizes the changes in benefit obligations of the defined benefit plan during the six months ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, ​ (In thousands) 2020 2019 ​ Benefit obligation, beginning of year ​ $ 3,571 ​ $ 2,747 ​ Service cost ​ 63 ​ 219 ​ Interest cost ​ 74 ​ 63 ​ Benefit obligation, end of period ​ $ 3,708 ​ $ 3,029 ​

Regulatory Capital (Tables)

Regulatory Capital (Tables)6 Months Ended
Jun. 30, 2020
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Schedule of CBRL ratio and leverage ratio for company and bankThe following table shows the CBLR ratio for the Company and the Bank for the period ended June 30, 2020, and the capital ratios for the Company and the Bank under Basel III requirements at December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Company Bank Required for capital adequacy purposes (1) To be well-capitalized under prompt corrective action regulations At June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CBLR 10.01 % 9.64 % 8.00 % 8.00 % At December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Leverage ratio ​ 10.59 % 10.15 % ​ 4.00 % 5.00 % CET1 11.59 % 11.81 % 4.50 % 6.50 % Tier I risk-based capital ratio 12.32 % 11.81 % 6.00 % 8.00 % Total risk-based capital ratio ​ 13.06 % 12.58 % 8.00 % 10.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Excludes capital conservation buffer at December 31, 2019.

Leases (Tables)

Leases (Tables)6 Months Ended
Jun. 30, 2020
Leases
Summary of Operating LeasesThe table below summarizes our net lease cost: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ Operating lease cost ​ $ 148 ​ $ 138 ​ $ 295 ​ $ 285 ​ Net lease cost ​ $ 148 ​ $ 138 ​ $ 295 ​ $ 285 ​ ​ The table below summarizes the cash and non-cash activities associated with our leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ (In thousands) ​ 2020 ​ 2019 ​ 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 142 ​ $ 130 ​ $ 283 ​ $ 268 ​ ROU assets obtained in exchange for new operating lease liabilities ​ $ — ​ $ 486 ​ $ — ​ $ 3,252 ​
Summary of Other Information for Operating LeasesThe table below summarizes other information related to our operating leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands, except percentages and years) June 30, 2020 December 31, 2019 Weighted average remaining lease term in years ​ 6.39 ​ ​ 6.76 ​ Weighted average discount rate ​ 5.49 % ​ 5.47 % Operating lease right-of-use assets ​ $ 2,555 ​ $ 2,792 ​
Maturity of Remaining Operating Lease LiabilitiesThe table below summarizes the maturity of remaining lease liabilities: ​ ​ ​ ​ ​ (In thousands) June 30, 2020 2020 (excluding the six months ended June 30, 2020) ​ $ 274 2021 ​ 528 2022 ​ 477 2023 ​ 410 2024 ​ 361 2025 and thereafter ​ 1,036 Total lease payments ​ $ 3,086 Less: Interest ​ (491) Present value of lease liabilities ​ $ 2,595

Net Income per Share (Details)

Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Mar. 31, 2020Jun. 30, 2019Mar. 31, 2019Jun. 30, 2020Jun. 30, 2019
Earnings Per Share [Abstract]
Net income $ 5,171 $ 5,368 $ 5,834 $ 5,740 $ 10,539 $ 11,574
Weighted average common shares outstanding - Basic (in shares)10,792 10,843 10,838 10,822
Plus: Potential dilutive common stock equivalents (in shares)96 183 124 189
Weighted average common shares outstanding - Diluted (in shares)10,888 11,026 10,962 11,011
Net income per common share - Basic (in dollars per share) $ 0.48 $ 0.54 $ 0.97 $ 1.07
Net income per common share - Diluted (in dollars per share) $ 0.47 $ 0.53 $ 0.96 $ 1.05
Stock options and common stock excluded from the income per share calculation as their effect would have been anti-dilutive (in shares)450 251 403 230

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense $ 1,488 $ 1,646 $ 3,086 $ 3,166
Effective income tax rate, continuing operations22.30%22.00%22.60%21.50%
Unrecognized tax benefits, income tax penalties and interest expense $ 0 $ 0 $ 0 $ 0
Unrecognized tax benefits, income tax penalties and interest accrued $ 0 $ 0 $ 0
Income tax returns open tax years (2012 and thereafter)2015

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Mar. 31, 2020Jun. 30, 2019Mar. 31, 2019Jun. 30, 2020Jun. 30, 2019Dec. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance $ 164,305 $ 160,709 $ 143,717 $ 138,488 $ 160,709 $ 138,488
Other comprehensive income (loss) before reclassifications121 216 (1,014)154
Less amounts reclassified from accumulated other comprehensive income (loss)47 62 (102)50
Total other comprehensive income (loss), net74 (986)154 (50)(912)104
Ending Balance166,607 164,305 149,383 143,717 166,607 149,383
Reclassification to unappropriated retained earnings79,253 79,253 $ 70,442
Net unrealized (losses) gains on securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance319 316 (560)(721)316 (721)
Other comprehensive income (loss) before reclassifications362 631 231 871
Less amounts reclassified from accumulated other comprehensive income (loss)62 77 (72)156
Total other comprehensive income (loss), net300 554 303 715
Ending Balance619 319 (6)(560)619 (6)
Adjustments related to defined benefit plan
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance(280)(295)(340)(431)(295)(431)
Less amounts reclassified from accumulated other comprehensive income (loss)(15)(15)(30)(106)
Total other comprehensive income (loss), net15 15 30 106
Ending Balance(265)(280)(325)(340)(265)(325)
Net unrealized (losses) gains from cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance(836)168 728 1,030 168 1,030
Other comprehensive income (loss) before reclassifications(241)(415)(1,245)(717)
Total other comprehensive income (loss), net(241)(415)(1,245)(717)
Ending Balance(1,077)(836)313 728 (1,077)313
Accumulated other comprehensive income (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance(832)154 (207)(157)154 (157)
Total other comprehensive income (loss), net74 (986)154 (50)
Ending Balance(758)(832)(53)(207)(758)(53)
Accounting Standards Update 2016-01 And 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassification to unappropriated retained earnings35 35 35 35
Accounting Standards Update 2016-01 And 2018-02 | Accumulated other comprehensive income (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance(797)189 (172)(122)189 (122)
Ending Balance $ (723) $ (797) $ (18) $ (172) $ (723) $ (18)

Fair Value - Fair Value on Recu

Fair Value - Fair Value on Recurring Basis - Narrative (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value $ 53,102 $ 64,275
Percentage of portfolio in residential mortgage backed securities42.00%
Residential mortgage backed securities guaranteed by Government National Mortgage Association or Federal National Mortgage Association or Federal Home Loan Mortgage Corporation $ 22,100
Equity securities1,786 2,289
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value $ 22,373 $ 27,964

Fair Value - Available for Sale

Fair Value - Available for Sale Debt Securities (Details) - Fair Value, Recurring [Member] - Fair Value, Inputs, Level 3 - Available for Sale Debt Securities $ in Thousands6 Months Ended
Jun. 30, 2020USD ($)
Fair value on a recurring basis
Balance at beginning of period $ 6,238
Unrealized5
Balance at end of period $ 6,243

Fair Value - Fair Value on Nonr

Fair Value - Fair Value on Nonrecurring Basis - Narrative (Details) - USD ($) $ in Thousands6 Months Ended
Jun. 30, 2020Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired financing receivable, related allowance $ 846 $ 414
Increase in valuation allowance for impaired loans432
Letter of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Standby letter of credit $ 4,500 $ 4,800

Fair Value - Assets And Liabili

Fair Value - Assets And Liabilities Measured on Recurring Basis (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale $ 53,102 $ 64,275
Equity securities1,786 2,289
Loans held for sale11,707 14,862
Interest rate swap agreements(1,512)238
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale46,859 64,275
Equity securities1,786 2,289
Loans held for sale11,707 14,862
Interest rate swap agreements(1,512)238
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale6,243
Equity securities0
Loans held for sale0
Interest rate swap agreements0
U.S. Government sponsored entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale2,772 5,753
U.S. Government sponsored entities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale2,772 5,753
U.S. Government sponsored entities | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale0
State and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale3,334 5,154
State and political subdivisions | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale3,334 5,154
State and political subdivisions | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale0
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale22,373 27,964
Residential mortgage-backed securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale22,373 27,964
Residential mortgage-backed securities | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale0
Corporate and other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale24,623 25,404
Corporate and other securities | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale18,380 $ 25,404
Corporate and other securities | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities available-for-sale6,243
Interest rate swap agreements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements(1,512)
Interest rate swap agreements | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements(1,512)
Interest rate swap agreements | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements $ 0

Fair Value - Assets and Liabi_2

Fair Value - Assets and Liabilities Subject to Fair Value Adjustments (Impairment) (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OREO $ 711 $ 1,723
Impaired collateral-dependent loans9,004 1,925
OREO, Net Provision (Credit)(200)(231)
Impaired collateral-dependent loans, Net Provision (Credit)432 (253)
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OREO711 1,723
Impaired collateral-dependent loans $ 9,004 $ 1,925

Fair Value - Carrying Amount an

Fair Value - Carrying Amount and Fair Values (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Carrying amount | Fair Value, Recurring [Member] | Corporate and other securities
Financial assets:
Securities $ 6,200
Carrying amount | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets:
Cash and cash equivalents186,683 $ 158,016
Carrying amount | Significant Other Observable Inputs (Level 2)
Financial assets:
Securities54,888 66,564
SBA loans held for sale10,602 13,529
Loans, net of allowance for loan losses1,561,671 1,395,634
FHLB stock11,629 14,184
Accrued interest receivable11,039 6,984
Financial liabilities:
Deposits1,483,457 1,250,114
Borrowed funds and subordinated debentures233,310 293,310
Accrued interest payable228 455
Carrying amount | Fair Value, Inputs, Level 3
Financial assets:
Servicing assets2,138 2,026
OREO711 1,723
Estimated fair value | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets:
Cash and cash equivalents186,683 158,016
Estimated fair value | Significant Other Observable Inputs (Level 2)
Financial assets:
Securities54,888 66,564
SBA loans held for sale11,707 14,862
Loans, net of allowance for loan losses1,581,341 1,398,997
FHLB stock11,629 14,184
Accrued interest receivable11,039 6,984
Financial liabilities:
Deposits1,489,973 1,252,082
Borrowed funds and subordinated debentures235,645 292,766
Accrued interest payable228 455
Estimated fair value | Fair Value, Inputs, Level 3
Financial assets:
Servicing assets2,138 2,026
OREO711 $ 1,723
Estimated fair value | Fair Value, Inputs, Level 3 | Fair Value, Recurring [Member]
Financial assets:
Fair value on a recurring basis $ 6,200

Securities - Amortized Cost to

Securities - Amortized Cost to Fair Value (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Available for sale at fair value:
Amortized cost $ 52,288 $ 63,883
Gross unrealized gains1,137 780
Gross unrealized losses(323)(388)
Estimated fair value53,102 64,275
Equity Securities:
Amortized cost2,112 2,218
Gross unrealized gains142
Gross unrealized losses(326)(71)
Equity securities with readily determinable fair values (amortized cost of $2,112 in 2020 and $2,218 in 2019)1,786 2,289
U.S. Government sponsored entities
Available for sale at fair value:
Amortized cost2,749 5,751
Gross unrealized gains23 4
Gross unrealized losses(2)
Estimated fair value2,772 5,753
State and political subdivisions
Available for sale at fair value:
Amortized cost3,320 4,992
Gross unrealized gains24 174
Gross unrealized losses(10)(12)
Estimated fair value3,334 5,154
Residential mortgage-backed securities
Available for sale at fair value:
Amortized cost21,463 27,698
Gross unrealized gains916 372
Gross unrealized losses(6)(106)
Estimated fair value22,373 27,964
Corporate and other securities
Available for sale at fair value:
Amortized cost24,756 25,442
Gross unrealized gains174 230
Gross unrealized losses(307)(268)
Estimated fair value $ 24,623 $ 25,404

Securities - Securities by Cont

Securities - Securities by Contractual Maturity (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Available for sale at fair value:
Available for sale at fair value, Within one year $ 3,919
Available for sale at fair value yield, Within one year1.54%
Available for sale at fair value, After one through five years $ 2,773
Available for sale at fair value yield, After one through five years3.03%
Available for sale at fair value, After five through ten years $ 20,473
Available for sale at fair value yield, After five through ten years4.28%
Available for sale at fair value, After ten years $ 25,937
Available for sale at fair value yield, After ten years2.99%
Available-for-sale Securities $ 53,102 $ 64,275
Available for sale at fair value yield3.38%
Equity Securities:
Equity securities, After ten years $ 1,786
Equity securities, After ten years, Yield2.58%
Equity securities $ 1,786 2,289
Equity securities, Yield2.58%
U.S. Government sponsored entities
Available for sale at fair value:
Available for sale at fair value, Within one year $ 2,772
Available for sale at fair value yield, Within one year1.57%
Available-for-sale Securities $ 2,772 5,753
Available for sale at fair value yield1.57%
State and political subdivisions
Available for sale at fair value:
Available for sale at fair value, Within one year $ 1,146
Available for sale at fair value yield, Within one year1.48%
Available for sale at fair value, After one through five years $ 884
Available for sale at fair value yield, After one through five years3.29%
Available for sale at fair value, After five through ten years $ 502
Available for sale at fair value yield, After five through ten years5.06%
Available for sale at fair value, After ten years $ 802
Available for sale at fair value yield, After ten years2.74%
Available-for-sale Securities $ 3,334 5,154
Available for sale at fair value yield2.80%
Residential mortgage-backed securities
Available for sale at fair value:
Available for sale at fair value, Within one year $ 1
Available for sale at fair value yield, Within one year4.48%
Available for sale at fair value, After one through five years $ 278
Available for sale at fair value yield, After one through five years2.37%
Available for sale at fair value, After five through ten years $ 2,202
Available for sale at fair value yield, After five through ten years2.48%
Available for sale at fair value, After ten years $ 19,892
Available for sale at fair value yield, After ten years2.63%
Available-for-sale Securities $ 22,373 27,964
Available for sale at fair value yield2.61%
Corporate and other securities
Available for sale at fair value:
Available for sale at fair value, After one through five years $ 1,611
Available for sale at fair value yield, After one through five years3.00%
Available for sale at fair value, After five through ten years $ 17,769
Available for sale at fair value yield, After five through ten years4.48%
Available for sale at fair value, After ten years $ 5,243
Available for sale at fair value yield, After ten years4.38%
Available-for-sale Securities $ 24,623 $ 25,404
Available for sale at fair value yield4.36%

Securities - Securities in Unre

Securities - Securities in Unrealized Loss Position (Details) $ in ThousandsJun. 30, 2020USD ($)securityDec. 31, 2019USD ($)security
Available for sale at fair value:
Available for sale, Total number in a loss position | security12 18
Available for sale, Less than 12 months Estimated fair value $ 7,273 $ 7,073
Available for sale, Less than 12 months, Unrealized loss(82)(40)
Available for sale, 12 Months and greater Estimated fair value4,963 11,739
Available for sale, 12 Months and greater Unrealized loss(241)(348)
Available for sale, Estimated fair value12,236 18,812
Available for sale, Unrealized loss $ (323) $ (388)
U.S. Government sponsored entities
Available for sale at fair value:
Available for sale, Total number in a loss position | security1
Available for sale, 12 Months and greater Estimated fair value $ 1,995
Available for sale, 12 Months and greater Unrealized loss(2)
Available for sale, Estimated fair value1,995
Available for sale, Unrealized loss $ (2)
State and political subdivisions
Available for sale at fair value:
Available for sale, Total number in a loss position | security1 1
Available for sale, 12 Months and greater Estimated fair value $ 802 $ 1,013
Available for sale, 12 Months and greater Unrealized loss(10)(12)
Available for sale, Estimated fair value802 1,013
Available for sale, Unrealized loss $ (10) $ (12)
Residential mortgage-backed securities
Available for sale at fair value:
Available for sale, Total number in a loss position | security3 10
Available for sale, Less than 12 months Estimated fair value $ 996 $ 3,707
Available for sale, Less than 12 months, Unrealized loss(6)(27)
Available for sale, 12 Months and greater Estimated fair value402 4,996
Available for sale, 12 Months and greater Unrealized loss(79)
Available for sale, Estimated fair value1,398 8,703
Available for sale, Unrealized loss $ (6) $ (106)
Corporate and other securities
Available for sale at fair value:
Available for sale, Total number in a loss position | security8 6
Available for sale, Less than 12 months Estimated fair value $ 6,277 $ 3,366
Available for sale, Less than 12 months, Unrealized loss(76)(13)
Available for sale, 12 Months and greater Estimated fair value3,759 3,735
Available for sale, 12 Months and greater Unrealized loss(231)(255)
Available for sale, Estimated fair value10,036 7,101
Available for sale, Unrealized loss $ (307) $ (268)

Securities - Realized Gains and

Securities - Realized Gains and Losses (Details) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020USD ($)Jun. 30, 2019USD ($)Jun. 30, 2020USD ($)securityJun. 30, 2019USD ($)Dec. 31, 2019USD ($)
Schedule of Investments [Line Items]
Realized gains $ 5 $ 0 $ 301 $ 0
Realized losses0 $ 0 0 $ 0
Total debt securities available for sale5 301
Net gains on sales of securities5 301
Securities realized gain (loss)16
Available-for-sale securities pledged as collateral3,100 $ 3,100 $ 4,000
1 Corporate Bond | Corporate Bond Securities
Schedule of Investments [Line Items]
Number of securities sold | security1
Book value of securities sold2,200 $ 2,200
Securities realized gain (loss) $ 61
3 Mortgage Backed Securities | Commercial mortgage-backed securities
Schedule of Investments [Line Items]
Number of securities sold | security3
Book value of securities sold2,800 $ 2,800
Securities realized gain (loss) $ 57
1 Security Sold | Municipal Securities
Schedule of Investments [Line Items]
Number of securities sold | security1
Book value of securities sold381 $ 381
Securities realized gain (loss) $ 27
1 Security Sold | Taxable Municipal Securities
Schedule of Investments [Line Items]
Number of securities sold | security1
Book value of securities sold456 $ 456
Securities realized gain (loss) $ 140
1 Security Called | Municipal Securities
Schedule of Investments [Line Items]
Number of securities sold | security3
Book value of securities sold $ 3,800 $ 3,800

Securities - Realized Gains (Lo

Securities - Realized Gains (Losses) for Equity Securities (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Marketable Securities [Abstract]
Net (losses) gains recognized during the period on equity securities $ 74 $ 98 $ (397) $ 198
Net gains recognized during the period on equity securities sold during the period5
Unrealized (losses) gains recognized during the reporting period on equity securities still held at the reporting date $ 74 $ 98 $ (392) $ 198

Loans - Narrative (Details)

Loans - Narrative (Details) - USD ($) $ in Thousands6 Months Ended
Jun. 30, 2020Dec. 31, 2019
Guarantee percentage of SBA Loan90.00%
Residential Consumer Properties
Other real estate owned $ 648 $ 1,700
Residential loans in process of foreclosure $ 6,400 $ 3,600

Loans - Classification of Loans

Loans - Classification of Loans By Class (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment $ 1,581,905 $ 1,412,029
SBA loans held for sale10,602 13,529
Total loans1,592,507 1,425,558
SBA 504 loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment23,299 26,726
Residential mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment469,987 467,706
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment146,161 143,524
SBA loans held for investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment36,966 35,767
SBA PPP loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment136,039 0
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment792,752 765,032
Commercial loans | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment121,961 112,014
Commercial loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment586,332 578,643
Commercial loans | Commercial real estate construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment61,160 47,649
Residential mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment469,987 467,706
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment146,161 143,524
Consumer loans | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment78,569 73,935
Consumer loans | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment $ 67,592 $ 69,589

Loans - Credit Quality Indicato

Loans - Credit Quality Indicators (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment $ 1,581,905 $ 1,412,029
SBA 504 loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment23,299 26,726
Pass | SBA 504 loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment23,275 24,878
Special mention | SBA 504 loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment1,808
Substandard | SBA 504 loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment24 40
SBA loans held for investment
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment36,966 35,767
SBA loans held for investment | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment35,691 34,202
SBA loans held for investment | Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment1,115
SBA loans held for investment | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment1,275 450
SBA PPP loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment136,039 0
SBA PPP loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment136,007
SBA PPP loans | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment32
Commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment792,752 765,032
Commercial loans | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment121,961 112,014
Commercial loans | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment586,332 578,643
Commercial loans | Commercial real estate construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment61,160 47,649
Commercial loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment771,047 756,073
Commercial loans | Pass | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment117,793 107,220
Commercial loans | Pass | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment568,819 576,326
Commercial loans | Pass | Commercial real estate construction
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment61,160 47,649
Commercial loans | Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment2,546 5,927
Commercial loans | Special mention | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment2,500 3,361
Commercial loans | Special mention | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment46 758
Commercial loans | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment19,159 3,032
Commercial loans | Substandard | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment1,668 1,433
Commercial loans | Substandard | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment17,467 1,559
Total SBA, SBA 504 and commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment965,757 800,799
Total SBA, SBA 504 and commercial loans | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment942,745 790,275
Total SBA, SBA 504 and commercial loans | Special mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment2,546 7,042
Total SBA, SBA 504 and commercial loans | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment20,466 3,482
Residential mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment469,987 467,706
Residential mortgage loans | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment463,795 463,770
Residential mortgage loans | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment6,192 3,936
Consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment146,161 143,524
Consumer loans | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment78,569 73,935
Consumer loans | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment67,592 69,589
Consumer loans | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment145,656 143,504
Consumer loans | Performing | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment78,569 73,915
Consumer loans | Performing | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment67,087 69,589
Consumer loans | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment505 20
Consumer loans | Nonperforming | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment20
Consumer loans | Nonperforming | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment505
Total residential mortgage and consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment616,148 611,230
Total residential mortgage and consumer loans | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment609,451 607,274
Total residential mortgage and consumer loans | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans held for investment $ 6,697 $ 3,956

Loans - Aging Analysis of Past

Loans - Aging Analysis of Past Due and Nonaccrual Loans by Class (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due $ 14,106 $ 17,517
Loans receivable, nonaccrual status9,473 5,649
Loan receivable, current1,578,401 1,408,041
Total loans held for investment1,567,799 1,394,512
Total loans1,581,905 1,412,029
SBA loans held for sale10,602 13,529
Total loans1,592,507 1,425,558
SBA 504 loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due1,808
Loan receivable, current23,299 24,918
Total loans23,299 26,726
30-59 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due3,956 7,163
60-89 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due677 3,775
60-89 days past due | SBA 504 loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due1,808
90 days and still accruing
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due930
SBA loans held for investment
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due3,765 2,212
Loans receivable, nonaccrual status2,331 1,164
Loan receivable, current33,201 33,555
Total loans36,966 35,767
SBA loans held for investment | 30-59 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due828 1,048
SBA loans held for investment | 60-89 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due606
SBA PPP loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due32
Loans receivable, nonaccrual status32
Loan receivable, current136,007
Total loans136,039 0
Commercial loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans792,752 765,032
Commercial loans | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due81 387
Loans receivable, nonaccrual status10 316
Loan receivable, current121,880 111,627
Total loans121,961 112,014
Commercial loans | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due403 428
Loans receivable, nonaccrual status403 213
Loan receivable, current585,929 578,215
Total loans586,332 578,643
Commercial loans | Commercial real estate construction
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivable, current61,160 47,649
Total loans61,160 47,649
Commercial loans | 30-59 days past due | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due71
Commercial loans | 30-59 days past due | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due215
Commercial loans | 60-89 days past due | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due71
Residential mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due9,150 10,925
Loans receivable, nonaccrual status6,192 3,936
Loan receivable, current460,837 456,781
Total loans469,987 467,706
Residential mortgage loans | 30-59 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due2,958 4,383
Residential mortgage loans | 60-89 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due1,676
Residential mortgage loans | 90 days and still accruing
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due930
Consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans146,161 143,524
Consumer loans | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due133
Loans receivable, nonaccrual status20
Loan receivable, current78,569 73,802
Total loans78,569 73,935
Consumer loans | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due675 1,624
Loans receivable, nonaccrual status505
Loan receivable, current66,917 67,965
Total loans67,592 69,589
Consumer loans | 30-59 days past due | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due170 1,446
Consumer loans | 60-89 days past due | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due113
Consumer loans | 60-89 days past due | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, past due178
Collateral Pledged | Small Business Administration
Financing Receivable, Credit Quality Indicator [Line Items]
Loans receivable, nonaccrual status $ 307 $ 59

Loans - Impaired Loans with Ass

Loans - Impaired Loans with Associated Allowance (Details) $ in Thousands6 Months Ended
Jun. 30, 2020USD ($)loanDec. 31, 2019USD ($)
Unpaid principal balance
Unpaid principal balance, with no related allowance $ 7,944 $ 1,437
Unpaid principal balance, with related allowance2,713 1,678
Unpaid principal balance10,657 3,115
Recorded investment
Recorded investment, with no related allowance7,739 1,277
Recorded investment, with related allowance2,111 1,062
Recorded investment9,850 2,339
Specific reserves846 414
Loans receivable, nonaccrual status9,473 5,649
Increase (decrease) in impaired Loans7,500
Home equity
Unpaid principal balance
Unpaid principal balance, with no related allowance505
Unpaid principal balance505
Recorded investment
Recorded investment, with no related allowance505
Recorded investment505
SBA loans held for investment
Unpaid principal balance
Unpaid principal balance, with no related allowance1,884 1,224
Unpaid principal balance, with related allowance356 157
Unpaid principal balance2,240 1,381
Recorded investment
Recorded investment, with no related allowance1,784 1,064
Recorded investment, with related allowance272 41
Recorded investment2,056 1,105
Specific reserves177 41
Loans receivable, nonaccrual status2,331 1,164
Commercial loans
Unpaid principal balance
Unpaid principal balance, with no related allowance684 213
Unpaid principal balance, with related allowance931 1,521
Unpaid principal balance1,615 1,734
Recorded investment
Recorded investment, with no related allowance684 213
Recorded investment, with related allowance413 1,021
Recorded investment1,097 1,234
Specific reserves413 373
Commercial loans | Other
Unpaid principal balance
Unpaid principal balance, with no related allowance684
Unpaid principal balance, with related allowance28 816
Unpaid principal balance28 816
Recorded investment
Recorded investment, with no related allowance684
Recorded investment, with related allowance10 316
Recorded investment10 316
Specific reserves10 316
Loans receivable, nonaccrual status10 316
Commercial loans | Commercial real estate
Unpaid principal balance
Unpaid principal balance, with no related allowance213
Unpaid principal balance, with related allowance903 705
Unpaid principal balance1,587 918
Recorded investment
Recorded investment, with no related allowance213
Recorded investment, with related allowance403 705
Recorded investment1,087 918
Specific reserves403 57
Loans receivable, nonaccrual status403 213
Residential mortgage loans
Unpaid principal balance
Unpaid principal balance, with no related allowance4,871
Unpaid principal balance, with related allowance1,426
Unpaid principal balance6,297
Recorded investment
Recorded investment, with no related allowance4,766
Recorded investment, with related allowance1,426
Recorded investment6,192
Specific reserves256
Loans receivable, nonaccrual status6,192 3,936
Collateral Pledged | Small Business Administration
Recorded investment
Loans receivable, nonaccrual status $ 307 $ 59
Addition To Impaired Loans | Commercial loans
Recorded investment
Number of loans | loan7
Financing receivable $ 987

Loans - Average Recorded Invest

Loans - Average Recorded Investments and Interest Recognized (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Financing Receivable, Impaired [Line Items]
Average recorded investment $ 9,205 $ 2,104 $ 9,051 $ 2,542
Interest income recognized on impaired loans104 13 194 25
SBA 504 loans
Financing Receivable, Impaired [Line Items]
Average recorded investment300
Interest income recognized on impaired loans32
SBA loans held for investment
Financing Receivable, Impaired [Line Items]
Average recorded investment1,265 618 1,197 901
Interest income recognized on impaired loans3 4 6 8
Commercial loans | Other
Financing Receivable, Impaired [Line Items]
Average recorded investment99 52 4
Interest income recognized on impaired loans12 21
Commercial loans | Commercial real estate
Financing Receivable, Impaired [Line Items]
Average recorded investment1,282 1,486 1,165 1,637
Interest income recognized on impaired loans33 $ 9 45 17
Residential mortgage loans
Financing Receivable, Impaired [Line Items]
Average recorded investment6,054 5,875
Interest income recognized on impaired loans52 81
Consumer loans | Other
Financing Receivable, Impaired [Line Items]
Average recorded investment38
Consumer loans | Home equity
Financing Receivable, Impaired [Line Items]
Average recorded investment505 424
Interest income recognized on impaired loans $ 4 9
Small Business Administration
Financing Receivable, Impaired [Line Items]
Impaired financing receivable average recorded investment, guaranteed by Small Business Administration $ 418 $ 84

Loans - Troubled Debt Restructu

Loans - Troubled Debt Restructuring (Narrative) (Details) $ in Thousands3 Months Ended6 Months Ended12 Months Ended
Jun. 30, 2020USD ($)loanJun. 30, 2019USD ($)loanJun. 30, 2020USD ($)loanJun. 30, 2019USD ($)loanDec. 31, 2019USD ($)
Financing Receivable, Impaired [Line Items]
Average recorded investment $ 9,205 $ 2,104 $ 9,051 $ 2,542
Impaired financing receivable, related allowance846 846 $ 414
Loans receivable, nonaccrual status $ 9,473 $ 9,473 5,649
Number of loans modified as a TDR | loan0 0 0 0
Number of loans modified as TDR, subsequent default | loan0 0
Troubled Debt Restructuring (TDR) | Performing
Financing Receivable, Impaired [Line Items]
Average recorded investment $ 684 705
Impaired financing receivable, related allowance $ 0 $ 0 $ 57
Number of loans modified as a TDR | loan1

Allowance for Loan Losses and_3

Allowance for Loan Losses and Reserve for Unfunded Loan Commitments - Narrative (Details) - USD ($) $ in ThousandsJun. 30, 2020Mar. 31, 2020Dec. 31, 2019Jun. 30, 2019Mar. 31, 2019Dec. 31, 2018
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Allowance for loan losses $ 20,234 $ 17,376 $ 16,395 $ 15,965 $ 15,684 $ 15,488
Other commitment $ 281 $ 273

Allowance for Loan Losses and_4

Allowance for Loan Losses and Reserve for Unfunded Loan Commitments - Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance $ 17,376 $ 15,684 $ 16,395 $ 15,488
Charge-offs(219)(84)(744)(395)
Recoveries577 15 583 22
Net (charge-offs) recoveries358 (69)(161)(373)
Provision for loan losses charged to expense2,500 350 4,000 850
Ending Balance20,234 15,965 20,234 15,965
SBA loans held for investment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance1,005 1,678 1,079 1,655
Charge-offs(84)(25)(393)
Recoveries75 1 80 3
Net (charge-offs) recoveries75 (83)55 (390)
Provision for loan losses charged to expense(76)(274)(130)56
Ending Balance1,004 1,321 1,004 1,321
Commercial loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance10,129 8,793 9,722 8,705
Charge-offs(219)(519)(1)
Recoveries502 4 503 9
Net (charge-offs) recoveries283 4 (16)8
Provision for loan losses charged to expense1,924 347 2,630 431
Ending Balance12,336 9,144 12,336 9,144
Residential mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance4,763 4,016 4,254 3,900
Charge-offs(200)
Net (charge-offs) recoveries(200)
Provision for loan losses charged to expense676 182 1,385 298
Ending Balance5,439 4,198 5,439 4,198
Consumer loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance1,479 1,197 1,340 1,228
Charge-offs(1)
Recoveries10 10
Net (charge-offs) recoveries10 9
Provision for loan losses charged to expense(24)95 115 65
Ending Balance $ 1,455 $ 1,302 $ 1,455 $ 1,302

Allowance for Loan Losses and_5

Allowance for Loan Losses and Reserve for Unfunded Loan Commitments - Allowance for Credit Losses on Basis of Impairment Method (Details) - USD ($) $ in ThousandsJun. 30, 2020Mar. 31, 2020Dec. 31, 2019Jun. 30, 2019Mar. 31, 2019Dec. 31, 2018
Financing Receivable, Allowance for Credit Loss [Line Items]
Total $ 20,234 $ 17,376 $ 16,395 $ 15,965 $ 15,684 $ 15,488
Total loans1,581,905 1,412,029
SBA loans held for investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment177 41
Collectively evaluated for impairment827 1,038
Total1,004 1,005 1,079 1,321 1,678 1,655
Individually evaluated for impairment2,056 1,105
Collectively evaluated for impairment170,949 34,662
Total loans173,005 35,767
Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment413 373
Collectively evaluated for impairment11,923 9,349
Total12,336 10,129 9,722 9,144 8,793 8,705
Individually evaluated for impairment1,097 1,234
Collectively evaluated for impairment791,655 763,798
Total loans792,752 765,032
Residential mortgage loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment256
Collectively evaluated for impairment5,183 4,254
Total5,439 4,763 4,254 4,198 4,016 3,900
Individually evaluated for impairment6,192
Collectively evaluated for impairment463,795 467,706
Total loans469,987 467,706
Consumer loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Collectively evaluated for impairment1,455 1,340
Total1,455 $ 1,479 1,340 $ 1,302 $ 1,197 $ 1,228
Individually evaluated for impairment505
Collectively evaluated for impairment145,656 143,524
Total loans146,161 143,524
Total
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually evaluated for impairment846 414
Collectively evaluated for impairment19,388 15,981
Total20,234 16,395
Individually evaluated for impairment9,850 2,339
Collectively evaluated for impairment1,572,055 1,409,690
Total loans $ 1,581,905 $ 1,412,029

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities (Details) $ in Thousands6 Months Ended12 Months Ended
Jun. 30, 2020USD ($)instrumentcontractDec. 31, 2019USD ($)contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount $ 100,000 $ 60,000
Interest rate swap agreements | Designated as hedging instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount $ 100,000 60,000
New swap agreements | instrument2
Notional value of new swap agreement $ 20,000
Fair value $ (1,512) $ 238
Weighted average pay rate1.19%1.42%
Weighted average receive rate1.24%2.19%
Weighted average maturity2 years 3 months 29 days1 year 3 months
Number of contracts | contract6 4

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Gain (Loss) in AOCI (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized losses relating to interest rate swaps $ (340) $ (584) $ (1,750) $ (992)
Interest rate swap agreements
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized losses relating to interest rate swaps $ (340) $ (584) $ (1,750) $ (965)

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020USD ($)sharesJun. 30, 2019USD ($)Jun. 30, 2020USD ($)installmentsharesJun. 30, 2019USD ($)Dec. 31, 2019USD ($)sharesDec. 31, 2018USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, outstanding (in shares) | shares650,701 650,701 614,311
Defined contribution plan, maximum annual contributions per employee, percent80.00%
Defined contribution plan employer discretionary contribution amount $ 186 $ 193 $ 371 $ 339
Deferred fees30 21 522 332
Interest paid on deferred fees33 27 62 50
Distributions paid3 2 $ 6 6
Description of defined contribution pension and other postretirement plansOn September 27, 2018 the Company approved a change in calculation of the Retirement Benefit payable under the SERP so that the Retirement Benefit shall be an amount equal to sixty percent (60%) of the average of Executive’s base salary for the thirty-six (36) months immediately preceding executive’s separation from service after age 66, adjusted annually thereafter by two percent (2%)
Defined benefit plans future payments $ 3,708 3,029 $ 3,708 3,029 $ 3,571 $ 2,747
Life insurance plan aggregate expenses $ 2 $ 2
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement guaranteed award percentage100.00%
Executive Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement guaranteed award percentage100.00%
Supplemental Employee Retirement Plan | President And Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Retirement benefit payable as percent of average Executive's base salary for 36 months preceding separation from service60.00%60.00%
Payment term after separation36 months
Retirement benefit payable as percent of average Executive's base salary for 36 months preceding separation from service, adjustment thereafter2.00%2.00%
Number of annual payments after separation | installment15
Expected future benefit payment $ 6,600 $ 6,600
Discount rate used to calculate the present value of the benefit obligation4.00%4.00%
Vesting percentage3.00%
Award vesting rights, percentage100.00%
Other Postretirement Benefit Plan | Executive Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement guaranteed award percentage7.50%
Award vesting rights, percentage100.00%
Accrued expense under the plan $ 39 $ 39
Life insurance plan with a post retirement death benefit250 $ 250
Life insurance plan aggregate expenses $ 1 $ 1
Other Postretirement Benefit Plan | Executive Management | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement guaranteed award percentage15.00%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period10 years
Options, award expiration period3 years
Number of shares authorized | shares327,100 327,100
Options, outstanding (in shares) | shares500,000 500,000
Options, exercised forfeited or expired (shares) | shares142,000
Number of shares available for grant | shares30,900 30,900
Compensation cost not yet recognized $ 1,200 $ 1,200
Compensation cost recognition weighted average period2 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost recognition weighted average period2 years 7 months 6 days
Nonvested awards, compensation not yet recognized, awards other than options $ 1,300 $ 1,300

Employee Benefit Plans - Stock

Employee Benefit Plans - Stock Transactions - Stock Option Plans (Details) - USD ($)3 Months Ended6 Months Ended12 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019Dec. 31, 2019
Shares
Options Outstanding, beginning shares614,311
Options granted, shares101,000 55,000
Options exercised, shares(49,111)(32,000)(54,611)(52,434)
Options forfeited, shares(9,999)
Options Outstanding, ending shares650,701 650,701 614,311
Shares Exercisable387,870 387,870
Weighted average exercise price
Weighted average exercise price, Options Outstanding, beginning (in dollars per share) $ 14.78
Weighted average exercise price, Options granted (in dollars per share)20.39 $ 20.61
Weighted average exercise price, Options exercised (in dollars per share)7.24
Weighted average exercise price, Options forfeited (in dollars per share)20.79
Weighted average exercise price, Options Outstanding, ending (in dollars per share) $ 16.19 16.19 $ 14.78
Weighted average exercise price, Options Exercisable (in dollars per share) $ 13.21 $ 13.21
Weighted average remaining contractual life , Options Outstanding7 years6 years 10 months 24 days
Weighted average remaining contractual life, Options exercisable5 years 8 months 12 days
Aggregate intrinsic value: Options Outstanding $ 1,235,282 $ 1,235,282 $ 4,783,402
Aggregate intrinsic value, Options exercisable $ 1,235,282 $ 1,235,282

Employee Benefit Plans - Stoc_2

Employee Benefit Plans - Stock Option Valuation Assumptions (Details) - $ / shares3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract]
Number of options granted (shares)101,000 55,000
Weighted average exercise price (in dollars per share) $ 20.39 $ 20.61
Weighted average fair value of options (in dollars per share) $ 5.54 $ 6.21
Expected life0 years0 years8 years 7 months 28 days8 years 2 months 23 days
Expected volatility27.13%27.08%
Risk-free interest rate1.55%2.55%
Dividend yield1.61%1.36%

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Options Exercised (Details) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract]
Number of options exercised (shares)49,111 32,000 54,611 52,434
Cash received from options exercised $ 361,253 $ 197,121 $ 395,518 $ 363,064
Total intrinsic value of options exercised388,981 464,208 475,222 704,610
Tax deduction realized from options $ 113,952 $ 139,657 $ 139,216 $ 211,982

Employee Benefit Plans - Stoc_3

Employee Benefit Plans - Stock Transactions - Stock Options Outstanding And Exercisable (Details)6 Months Ended
Jun. 30, 2020$ / sharesshares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding: Shares Outstanding | shares650,701
Options Outstanding: Weighted Average Remaining Contractual Life7 years
Options Outstanding: Weighted Average Exercise Price (in dollars per share) $ 16.19
Options Exercisable: Shares Exercisable | shares387,870
Options Exercisable: Weighted Average Exercise Price (in dollars per share) $ 13.21
$0.00 - $6.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, lower (in dollars per share)0
Range of exercise prices, upper (in dollars per share) $ 6
Options Outstanding: Shares Outstanding | shares44,000
Options Outstanding: Weighted Average Remaining Contractual Life2 years
Options Outstanding: Weighted Average Exercise Price (in dollars per share) $ 5.65
Options Exercisable: Shares Exercisable | shares44,000
Options Exercisable: Weighted Average Exercise Price (in dollars per share) $ 5.65
$6.01 - $12.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, lower (in dollars per share)6.01
Range of exercise prices, upper (in dollars per share) $ 12
Options Outstanding: Shares Outstanding | shares156,667
Options Outstanding: Weighted Average Remaining Contractual Life4 years 8 months 12 days
Options Outstanding: Weighted Average Exercise Price (in dollars per share) $ 8.85
Options Exercisable: Shares Exercisable | shares156,667
Options Exercisable: Weighted Average Exercise Price (in dollars per share) $ 8.85
$12.01 - $18.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, lower (in dollars per share)12.01
Range of exercise prices, upper (in dollars per share) $ 18
Options Outstanding: Shares Outstanding | shares102,533
Options Outstanding: Weighted Average Remaining Contractual Life7 years 7 months 6 days
Options Outstanding: Weighted Average Exercise Price (in dollars per share) $ 15.94
Options Exercisable: Shares Exercisable | shares67,533
Options Exercisable: Weighted Average Exercise Price (in dollars per share) $ 15.78
$18.01 - $24.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, lower (in dollars per share)18.01
Range of exercise prices, upper (in dollars per share) $ 24
Options Outstanding: Shares Outstanding | shares347,501
Options Outstanding: Weighted Average Remaining Contractual Life8 years 6 months
Options Outstanding: Weighted Average Exercise Price (in dollars per share) $ 20.92
Options Exercisable: Shares Exercisable | shares119,670
Options Exercisable: Weighted Average Exercise Price (in dollars per share) $ 20.26

Employee Benefit Plans - Compen

Employee Benefit Plans - Compensation Expense Related To Stock Options (Details) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense $ 180,785 $ 154,247 $ 373,274 $ 290,603
Income tax benefit52,247 44,577 107,876 83,984
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense161,173 166,620 334,078 312,908
Income tax benefit $ 46,580 $ 48,153 $ 96,549 $ 90,430

Employee Benefit Plans - Stoc_4

Employee Benefit Plans - Stock Transactions - Restricted Stock Activity (Details) - Restricted Stock - $ / shares6 Months Ended
Jun. 30, 2020Jun. 30, 2019
Shares
Nonvested restricted stock: shares108,740
Granted: shares15,000 30,150
Cancelled: shares(5,937)
Vested: shares(33,718)
Nonvested restricted stock: shares84,085
Average grant date fair value
Nonvested restricted stock: Average grant date fair value (in dollars per share) $ 19.18
Granted: Average grant date fair value (in dollars per share)16.63 $ 20.65
Cancelled: Average grant date fair value (in dollars per share)19.97
Vested: Average grant date fair value (in dollars per share)17.08
Nonvested restricted stock: Average grant date fair value (in dollars per share) $ 19.51

Employee Benefit Plans - Stoc_5

Employee Benefit Plans - Stock Transactions - Restricted Stock Awards (Details) - Restricted Stock - $ / shares6 Months Ended
Jun. 30, 2020Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted15,000 30,150
Average grant date fair value (in dollars per share) $ 16.63 $ 20.65

Employee Benefit Plans - Net Pe

Employee Benefit Plans - Net Periodic Pension Cost of Defined Benefit Plan (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract]
Service cost $ 32 $ 172 $ 63 $ 219
Interest cost37 34 74 63
Amortization of prior service cost21 21 42 42
Net periodic benefit cost $ 90 $ 227 $ 179 $ 324

Employee Benefit Plans - Benefi

Employee Benefit Plans - Benefit Obligations of Defined Benefit Plan (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, beginning of year $ 3,571 $ 2,747
Service cost $ 32 $ 172 63 219
Interest cost37 34 74 63
Benefit obligation, end of year $ 3,708 $ 3,029 $ 3,708 $ 3,029

Regulatory Capital (Details)

Regulatory Capital (Details)Jun. 30, 2020Dec. 31, 2019
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Leverage ratio: Actual Ratio10.01%10.59%
CET1: Actual Ratio11.59%
Tier I risk-based capital ratio: Actual Ratio12.32%
Total risk--based capital ratio: Actual Ratio13.06%
Leverage ratio: For Capital Adequacy Purposes Ratio8.00%4.00%
CET1: For Capital Adequacy Purposes Ratio4.50%
Tier I risk-based capital ratio: For Capital Adequacy Purposes Ratio6.00%
Total risk-based capital ratio: For Capital Adequacy Purposes Ratio8.00%
Leverage ratio: To Be Well-Capitalized Under Prompt Corrective Action Provisions Ratio8.00%5.00%
CET1: To Be Well-Capitalized Under Prompt Corrective Action Provisions Ratio6.50%
Tier I risk-based capital ratio: To Be Well-Capitalized Under Prompt Corrective Action Provisions Ratio8.00%
Total risk-based capital ratio: To Be Well-Capitalized Under Prompt Corrective Action Provisions Ratio10.00%
Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Leverage ratio: Actual Ratio9.64%10.15%
CET1: Actual Ratio11.81%
Tier I risk-based capital ratio: Actual Ratio11.81%
Total risk--based capital ratio: Actual Ratio12.58%

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands6 Months Ended
Jun. 30, 2020Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets $ 2,555 $ 2,792
Operating lease liability $ 2,595 $ 2,800
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Remaining term of contract1 year
Renewal term1 year
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Remaining term of contract10 years
Renewal term5 years

Leases - Cost (Details)

Leases - Cost (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019Dec. 31, 2019
Leases
Operating lease cost $ 148 $ 138 $ 295 $ 285
Net lease cost148 138 295 285
Operating cash flows from operating leases $ 142 130 $ 283 268
ROU assets obtained in exchange for new operating lease liabilities $ 486 $ 3,252
Weighted average remaining lease term in years6 years 4 months 20 days6 years 4 months 20 days6 years 9 months 3 days
Weighted average discount rate5.49%5.49%5.47%
Operating lease right-of-use assets $ 2,555 $ 2,555 $ 2,792

Leases - Maturity (Details)

Leases - Maturity (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Leases
2020 (excluding the six months ended June 30, 2020) $ 274
2021528
2022477
2023410
2024361
2025 and thereafter1,036
Total lease payments3,086
Less: Interest(491)
Present value of lease liabilities $ 2,595 $ 2,800