0000039311-24-000056 | 10-Q | XBRL Viewer

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Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Securities held-to-maturity, fair value	$ 311,013	$ 318,606
Shareholders’ Equity
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	200,000	200,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	20,903,677	20,835,633
Common stock, shares outstanding (in shares)	20,903,677	20,835,633

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

We are required to record derivatives on our Condensed Consolidated Statements of Financial Condition as assets and liabilities measured at their fair value. The accounting for increases and decreases in the value of derivatives depends upon the use of derivatives and whether the derivatives qualify for hedge accounting.

Our derivative financial instruments according to the type of hedge in which they are designated follows:


	March 31, 2024
	Notional Amount		Average Maturity (years)	Fair Value
	(Dollars in thousands)
Fair value hedge designation
Pay-fixed interest rate swap agreement - commercial	$	5,937	5.1	$	428
Pay-fixed interest rate swap agreements - securities available for sale	148,895		3.6	16,835
Pay-fixed interest rate swap agreements - installment	100,000		3.2	460
Pay-fixed interest rate swap agreements - mortgage	100,000		4.1	(129)
Pay-variable interest rate swap agreements - FHLB Advance	50,000		1.5	(25)
Interest rate cap agreements - securities available for sale	40,970		4.1	534
Total	$	445,802	3.4	$	18,103

Cash flow hedge designation
Interest rate floor agreements - commercial	$	250,000	3.0	$	3,626

No hedge designation
Rate-lock mortgage loan commitments	$	25,501	0.1	$	267
Mandatory commitments to sell mortgage loans	32,798		0.1	(50)
Pay-fixed interest rate swap agreements - commercial	402,119		5.9	13,139
Pay-variable interest rate swap agreements - commercial	402,119		5.9	(13,139)
Total	$	862,537	5.5	$	217


	December 31, 2023
	Notional Amount		Average Maturity (years)	Fair Value
	(Dollars in thousands)
Fair value hedge designation
Pay-fixed interest rate swap agreement - commercial	$	6,033	5.4	$	349
Pay-fixed interest rate swap agreements - securities available for sale	148,895		3.9	15,287
Pay-fixed interest rate swap agreements - installment	100,000		3.4	(1,228)
Pay-fixed interest rate swap agreements - mortgage	100,000		4.3	(2,131)
Interest rate cap agreements - securities available for sale	40,970		4.3	456
Total	$	395,898	3.9	$	12,733

Cash flow hedge designation
Interest rate floor agreements - commercial	$	150,000	3.5	$	4,221

No hedge designation
Rate-lock mortgage loan commitments	18,081		0.1	173
Mandatory commitments to sell mortgage loans	30,442		0.1	(279)
Pay-fixed interest rate swap agreements - commercial	379,012		5.9	7,169
Pay-variable interest rate swap agreements - commercial	379,012		5.9	(7,169)
Total	$	806,547	5.5	$	(106)

We have established management objectives and strategies that include interest-rate risk parameters for maximum fluctuations in net interest income and market value of portfolio equity. We monitor our interest rate risk position via simulation modeling reports. The goal of our asset/liability management efforts is to maintain profitable financial leverage within established risk parameters.

We have entered into pay-fixed interest rate swaps and caps to protect a portion of the fair value of a certain fixed rate commercial loan and certain mortgage and installment loans (‘‘Fair Value Hedge – Portfolio Loans’’). As a result, changes in the fair values of the pay-fixed interest rate swap and caps are expected to offset changes in the fair values of the fixed rate portfolio loans due to fluctuations in interest rates. We record the fair values of Fair Value Hedge – Portfolio Loans in accrued income and other assets and accrued expenses and other liabilities on our Condensed Consolidated Statements of Financial Condition. The hedged items (a fixed rate commercial loan and certain fixed rate mortgage and installment loans) are also recorded at fair value which offsets the adjustment to the Fair Value Hedge – Portfolio Loans. On an ongoing basis, we adjust our Condensed Consolidated Statements of Financial Condition to reflect the then current fair values of both the Fair Value Hedge – Portfolio Loans and the hedged items. The related gains or losses are reported in interest income – interest and fees on loans in our Condensed Consolidated Statements of Operations. During the second quarter of 2023 we terminated the interest rate cap that was previously hedging certain installment loans. The remaining unrealized gain on this terminated interest cap is being amortized into earnings over the original life of the interest rate cap.

We have entered into pay-fixed interest rate swap and interest rate cap agreements to protect a portion of the fair value of certain securities available for sale (‘‘Fair Value Hedge – AFS Securities’’). As a result, the change in the fair value of the pay-fixed interest rate swap and interest rate cap agreements is expected to offset a portion of the change in the fair value of the fixed rate securities available for sale due to fluctuations in interest rates. We record the fair value of Fair Value Hedge – AFS Securities in accrued income and other assets and accrued expenses and other liabilities on our Condensed Consolidated Statements of Financial Condition. The hedged items (fixed rate securities available for sale) are also recorded at fair value which offsets the adjustment to the Fair Value Hedge – AFS Securities. On an ongoing basis, we adjust our Condensed Consolidated Statements of Financial Condition to reflect the then current fair value of both the Fair Value Hedge – AFS Securities and the hedged item. The related gains or losses are reported in interest income – interest on securities – tax-exempt in our Condensed Consolidated Statements of Operations.

We have entered into a pay-variable interest rate swap to protect a portion of the fair value of a certain Federal Home Loan Bank ("FHLB") advance (‘‘Fair Value Hedge – FHLB Advance’’). As a result, changes in the fair value of the pay-variable interest rate swap is expected to offset changes in the fair value of the fixed rate FHLB advance due to fluctuations in interest rates. We record the fair value of the Fair Value Hedge – FHLB Advance in accrued income and other assets and accrued expenses and other liabilities on our Condensed Consolidated Statements of Financial Condition. The hedged item (a fixed rate FHLB advance) is also recorded at fair value which offsets the adjustment to the Fair Value Hedge – FHLB Advance. On an ongoing basis, we adjust our Condensed Consolidated Statements of Financial Condition to reflect the then current fair values of both the Fair Value Hedge – FHLB Advance and the hedged item. The related gains or losses are reported in interest expense – other borrowings and subordinated debt and debentures in our Condensed Consolidated Statements of Operations.

We have entered into interest rate floor agreements to manage the variability in future expected cash flows of certain commercial loans (‘‘Cash Flow Hedge – Portfolio Loans’’). We record the fair value of Cash Flow Hedge – Portfolio Loans in accrued income and other assets and accrued expenses and other liabilities on our Condensed Consolidated Statements of Financial Condition. The changes in the fair value of Cash Flow Hedge - Portfolio Loans are recorded in accumulated other comprehensive loss and are reclassified into the line item in our Condensed Consolidated Statements of Operations in which the hedged items are recorded in the same period the hedged items affect earnings. It is anticipated that as of March 31, 2024, $1.1 million will be reclassified from accumulated other comprehensive loss on Cash Flow Hedge - Portfolio Loans into earnings as a reduction of interest and fees on loans over the next twelve months. The maximum term of any Cash Flow Hedge - Portfolio Loans at March 31, 2024 is 4.4 years.

Certain derivative financial instruments have not been designated as hedges. The fair value of these derivative financial instruments has been recorded on our Condensed Consolidated Statements of Financial Condition and is adjusted on an ongoing basis to reflect their then current fair value. The changes in fair value of derivative financial instruments not designated as hedges are recognized in earnings

In the ordinary course of business, we enter into rate-lock mortgage loan commitments with customers (“Rate-Lock Commitments”). These commitments expose us to interest rate risk. We also enter into mandatory commitments to sell mortgage loans (“Mandatory Commitments”) to reduce the impact of price fluctuations of mortgage loans held for sale and Rate-Lock Commitments. Mandatory Commitments help protect our loan sale profit margin from fluctuations in interest rates. The changes in the fair value of Rate-Lock Commitments and Mandatory Commitments are recognized currently as part of net gains on mortgage loans in our Condensed Consolidated Statements of Operations. We obtain market prices on Mandatory Commitments and Rate-Lock Commitments. Net gains on mortgage loans, as well as net income may be more volatile as a result of these derivative instruments, which are not designated as hedges.

We have a program that allows commercial loan customers to lock in a fixed rate for a longer period of time than we would normally offer for interest rate risk reasons. We will enter into a variable rate commercial loan and an interest rate swap agreement with a customer and then enter into an offsetting interest rate swap agreement with an unrelated party. The interest rate swap agreement fair values will generally move in opposite directions resulting in little or no net impact on our Condensed Consolidated Statements of Operations. All of the interest rate swap agreements - commercial in the table above with no hedge designation relate to this program.

We had entered into a no hedge designation pay-variable interest rate swap agreement in an attempt to manage the cost of certain funding liabilities. The changes in fair value of this no hedge pay-variable interest rate swap is recorded in non-interest expense-other in our Condensed Consolidated Statements of Operations. This no hedge designation pay-variable interest rate swap agreement matured during the third quarter of 2023.

The following tables illustrate the impact that the derivative financial instruments discussed above have on individual line items in the Condensed Consolidated Statements of Financial Condition for the periods presented:

Fair Values of Derivative Instruments


	Asset Derivatives						Liability Derivatives
	March 31, 2024			December 31, 2023			March 31, 2024			December 31, 2023
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
	(In thousands)
Derivatives designated as hedging instruments
Pay-fixed interest rate swap agreements	Other assets	$	17,964	Other assets	$	15,636	Other liabilities	$	370	Other liabilities	$	3,359
Pay-variable interest rate swap agreements	Other assets	2		Other assets	—		Other liabilities	27		Other liabilities	—
Interest rate cap agreements	Other assets	534		Other assets	456		Other liabilities	—		Other liabilities	—
Interest rate floor agreements	Other assets	3,626		Other assets	4,221		Other liabilities	—		Other liabilities	—
		22,126			20,313			397			3,359
Derivatives not designated as hedging instruments
Rate-lock mortgage loan commitments	Other assets	267		Other assets	173		Other liabilities	—		Other liabilities	—
Mandatory commitments to sell mortgage loans	Other assets	—		Other assets	—		Other liabilities	50		Other liabilities	279
Pay-fixed interest rate swap agreements - commercial	Other assets	16,018		Other assets	12,683		Other liabilities	2,879		Other liabilities	5,514
Pay-variable interest rate swap agreements - commercial	Other assets	2,879		Other assets	5,514		Other liabilities	16,018		Other liabilities	12,683
		19,164			18,370			18,947			18,476
Total derivatives		$	41,290		$	38,683		$	19,344		$	21,835

The effect of derivative financial instruments on the Condensed Consolidated Statements of Operations follows:


	Loss Recognized in Other Comprehensive Income (Loss) (Effective Portion)				Location of Loss Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Effective Portion)	Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)					Gain (Loss) Recognized in Income
	Three Month Periods Ended March 31,					Three Month Periods Ended March 31,				Location of Gain (Loss) Recognized in Income	Three Month Periods Ended March 31,
	2024		2023			2024		2023			2024		2023
											(In thousands)
Fair Value Hedges
Pay-fixed interest rate swap agreement - commercial										Interest and fees on loans	$	79	$	(101)
Pay-fixed interest rate swap agreements - securities available for sale										Interest on securities available for sale - tax - exempt	1,548		(2,744)
Pay-fixed interest rate swap agreements - Installment										Interest and fees on loans	1,688		(421)
Pay-fixed interest rate swap agreements - Mortgage										Interest and fees on loans	2,002		—
Pay-variable interest rate swap agreements - FHLB Advance										Interest expense - other borrowings and subordinated debt and debentures	(25)		—
Interest rate cap agreements - securities available for sale	$	38	$	(572)	Interest on securities available for sale - tax - exempt	$	(54)	$	(84)	Interest on securities available for sale - tax - exempt	40		51
Interest rate cap agreements - installment	—		152		Interest and fees on loans	—		—		Interest and fees on loans	—		(14)
Total	$	38	$	(420)		$	(54)	$	(84)		$	5,332	$	(3,229)

Cash Flow Hedges
Interest rate floor agreements - commercial	$	(2,267)	$	—	Interest and fees on loans	$	(212)	$	—	Interest and fees on loans	$	(212)	$	—

No hedge designation
Rate-lock mortgage loan commitments										Net gains on mortgage loans	$	94	$	683
Mandatory commitments to sell mortgage loans										Net gains on mortgage loans	229		(746)
Pay-fixed interest rate swap agreements - commercial										Interest income	5,970		$	5,574
Pay-variable interest rate swap agreements - commercial										Interest income	(5,970)		(5,574)
Pay-variable interest rate swap agreement										Non-interest expense - other	—		$	(18)
Total											$	323	$	(81)

Derivative Financial Instruments - Type of Hedge and Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Fair Value Hedging
Derivative Instrument Detail [Abstract]
Notional Amount	$ 445,802	$ 395,898
Average Maturity (years)	3 years 4 months 24 days	3 years 10 months 24 days
Fair Value	$ 18,103	$ 12,733
Fair Value Hedging \| Interest Rate Cap
Derivative Instrument Detail [Abstract]
Notional Amount	$ 40,970	$ 40,970
Average Maturity (years)	4 years 1 month 6 days	4 years 3 months 18 days
Fair Value	$ 534	$ 456
Cash Flow Hedging \| Interest Rate Floor
Derivative Instrument Detail [Abstract]
Notional Amount	$ 250,000	$ 150,000
Average Maturity (years)	3 years	3 years 6 months
Fair Value	$ 3,626	$ 4,221
Derivatives not designated as hedging instruments
Derivative Instrument Detail [Abstract]
Notional Amount	$ 862,537	$ 806,547
Average Maturity (years)	5 years 6 months	5 years 6 months
Fair Value	$ 217	$ (106)
Derivatives not designated as hedging instruments \| Interest Rate Lock Commitments
Derivative Instrument Detail [Abstract]
Notional Amount	$ 25,501	$ 18,081
Average Maturity (years)	1 month 6 days	1 month 6 days
Fair Value	$ 267	$ 173
Derivatives not designated as hedging instruments \| Mandatory Commitments to Sell Mortgage Loans
Derivative Instrument Detail [Abstract]
Notional Amount	$ 32,798	$ 30,442
Average Maturity (years)	1 month 6 days	1 month 6 days
Fair Value	$ (50)	$ (279)
Fixed Income Interest Rate \| Fair Value Hedging \| Interest Rate Swap \| Commercial
Derivative Instrument Detail [Abstract]
Notional Amount	$ 5,937	$ 6,033
Average Maturity (years)	5 years 1 month 6 days	5 years 4 months 24 days
Fair Value	$ 428	$ 349
Fixed Income Interest Rate \| Fair Value Hedging \| Interest Rate Swap \| Installment
Derivative Instrument Detail [Abstract]
Notional Amount	$ 100,000	$ 100,000
Average Maturity (years)	3 years 2 months 12 days	3 years 4 months 24 days
Fair Value	$ 460	$ (1,228)
Fixed Income Interest Rate \| Fair Value Hedging \| Interest Rate Swap \| Mortgage
Derivative Instrument Detail [Abstract]
Notional Amount	$ 100,000	$ 100,000
Average Maturity (years)	4 years 1 month 6 days	4 years 3 months 18 days
Fair Value	$ (129)	$ (2,131)
Fixed Income Interest Rate \| Fair Value Hedging \| Interest Rate Swap, Noncommercial
Derivative Instrument Detail [Abstract]
Notional Amount	$ 148,895	$ 148,895
Average Maturity (years)	3 years 7 months 6 days	3 years 10 months 24 days
Fair Value	$ 16,835	$ 15,287
Fixed Income Interest Rate \| Derivatives not designated as hedging instruments \| Interest Rate Swap \| Commercial
Derivative Instrument Detail [Abstract]
Notional Amount	$ 402,119	$ 379,012
Average Maturity (years)	5 years 10 months 24 days	5 years 10 months 24 days
Fair Value	$ 13,139	$ 7,169
Variable Income Interest Rate \| Fair Value Hedging \| Interest Rate Swap \| Residential, FHLB Advance
Derivative Instrument Detail [Abstract]
Notional Amount	$ 50,000
Average Maturity (years)	1 year 6 months
Fair Value	$ (25)
Variable Income Interest Rate \| Derivatives not designated as hedging instruments \| Interest Rate Swap \| Commercial
Derivative Instrument Detail [Abstract]
Notional Amount	$ 402,119	$ 379,012
Average Maturity (years)	5 years 10 months 24 days	5 years 10 months 24 days
Fair Value	$ (13,139)	$ (7,169)

Fair Value Disclosures

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Disclosures

FASB ASC topic 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. FASB ASC topic 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The standard describes three levels of inputs that may be used to measure fair value:

Level 1: Valuation is based upon quoted prices for identical instruments traded in active markets. Level 1 instruments include securities traded on active exchange markets, such as the New York Stock Exchange, as well as U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets.

Level 2: Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 2 instruments include securities traded in less active dealer or broker markets.

Level 3: Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.

We used the following methods and significant assumptions to estimate fair value:

Securities: Where quoted market prices are available in an active market, securities are classified as Level 1 of the valuation hierarchy. We currently do not have any Level 1 securities. If quoted market prices are not available for the specific security, then fair values are estimated by (1) using quoted market prices of securities with similar characteristics, (2) matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices, or (3) a discounted cash flow analysis whose significant fair value inputs can generally be verified and do

not typically involve judgment by management. These securities are classified as Level 2 of the valuation hierarchy and primarily include agency securities, private label mortgage-backed securities, other asset backed securities, obligations of states and political subdivisions, trust preferred securities, corporate securities and foreign government securities.

Loans held for sale: The fair value of mortgage loans held for sale, carried at fair value is based on agency cash window loan pricing for comparable assets (recurring Level 2).

Collateral dependent loans with specific loss allocations based on collateral value: From time to time, certain collateral dependent loans will have an ACL established. When the fair value of the collateral is based on an appraised value or when an appraised value is not available we record the collateral dependent loan as nonrecurring Level 3. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments can be significant and thus will typically result in a Level 3 classification of the inputs for determining fair value.

Other real estate: At the time of acquisition, other real estate is recorded at fair value, less estimated costs to sell, which becomes the property’s new basis. Subsequent write-downs to reflect declines in value since the time of acquisition may occur from time to time and are recorded in net gains on other real estate and repossessed assets, which is part of non-interest expense - other in the Condensed Consolidated Statements of Operations. The fair value of the property used at and subsequent to the time of acquisition is typically determined by a third party appraisal of the property. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments can be significant and typically result in a Level 3 classification of the inputs for determining fair value.

Appraisals for both collateral-dependent loans and other real estate are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by us. Once received, an independent third party, or a member of our Collateral Evaluation Department (for commercial properties), or a member of our Special Assets Group (for residential properties) reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. We compare the actual selling price of collateral that has been sold to the most recent appraised value of our properties to determine what additional adjustment, if any, should be made to the appraisal value to arrive at fair value. For commercial and residential properties we typically discount an appraisal to account for various factors that the appraisal excludes in its assumptions. These additional discounts generally do not result in material adjustments to the appraised value.

Capitalized mortgage loan servicing rights: The fair value of capitalized mortgage loan servicing rights is based on a valuation model used by an independent third party that calculates the present value of estimated net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income. Certain model assumptions are generally unobservable and are based upon the best information available including data relating to our own servicing portfolio, reviews of mortgage servicing assumption and valuation surveys and input from various mortgage servicers and, therefore, are recorded as Level 3. Management evaluates the third party valuation for reasonableness each quarter as part of our financial reporting control processes.

Derivatives: The fair value of rate-lock mortgage loan commitments is based on agency cash window loan pricing for comparable assets and the fair value of mandatory commitments to sell mortgage loans is based on mortgage backed security pricing for comparable assets (recurring Level 2). The fair value of interest rate swap, interest rate cap and interest rate floor agreements are derived from proprietary models which utilize current market data. The significant fair value inputs can generally be observed in the market place and do not typically involve judgment by management (recurring Level 2).

Assets and liabilities measured at fair value, including financial assets for which we have elected the fair value option, were as follows:


			Fair Value Measurements Using
	Fair Value Measure- ments		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Un- observable Inputs (Level 3)
	(In thousands)
March 31, 2024:
Measured at Fair Value on a Recurring Basis
Assets
Securities available for sale
U.S. agency	$	8,925	$	—	$	8,925	$	—
U.S. agency residential mortgage-backed	78,495		—		78,495		—
U.S. agency commercial mortgage-backed	12,055		—		12,055		—
Private label mortgage-backed	84,770		—		84,770		—
Other asset backed	64,833		—		64,833		—
Obligations of states and political subdivisions	293,216		—		293,216		—
Corporate	70,383		—		70,383		—
Trust preferred	943		—		943		—
Loans held for sale, carried at fair value	8,935		—		8,935		—
Capitalized mortgage loan servicing rights	43,577		—		—		43,577
Derivatives (1)	41,290		—		41,290		—
Liabilities
Derivatives (2)	19,344		—		19,344		—

Measured at Fair Value on a Non-recurring Basis:
Assets
Collateral dependent loans (3)
Commercial
Commercial and industrial	5,035		—		—		5,035

Mortgage
1-4 family owner occupied - non-jumbo	441		—		—		441

1-4 family - 2nd lien	85		—		—		85
Resort lending	125		—		—		125
Installment
Boat lending	75		—		—		75
Recreational vehicle lending	155		—		—		155
Other	36		—		—		36

________________________________

(1)Included in accrued income and other assets

(2)Included in accrued expenses and other liabilities

(3)Only includes individually evaluated loans with specific loss allocations based on collateral value.


			Fair Value Measurements Using
	Fair Value Measure- ments		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Un- observable Inputs (Level 3)
	(In thousands)
December 31, 2023:
Measured at Fair Value on a Recurring Basis
Assets
Securities available for sale
U.S. agency	$	9,507	$	—	$	9,507	$	—
U.S. agency residential mortgage-backed	81,217		—		81,217		—
U.S. agency commercial mortgage-backed	12,297		—		12,297		—
Private label mortgage-backed	86,469		—		86,469		—
Other asset backed	112,931		—		112,931		—
Obligations of states and political subdivisions	302,737		—		302,737		—
Corporate	73,250		—		73,250		—
Trust preferred	942		—		942		—
Loans held for sale, carried at fair value	12,063		—		12,063		—
Capitalized mortgage loan servicing rights	42,243		—		—		42,243
Derivatives (1)	38,683		—		38,683		—
Liabilities
Derivatives (2)	21,835		—		21,835		—

Measured at Fair Value on a Non-recurring Basis:
Assets
Loans held for sale, carried at the lower of cost or fair value	—		—		—		—
Collateral dependent loans (3)
Commercial
Commercial and industrial	551		—		—		551

Mortgage
1-4 family owner occupied - non-jumbo	732		—		—		732
1-4 family non-owner occupied	33		—		—		33
1-4 family - 2nd lien	157		—		—		157
Resort lending	92		—		—		92
Installment
Boat lending	192		—		—		192
Recreational vehicle lending	196		—		—		196
Other	66		—		—		66

_________________________________

(1)Included in accrued income and other assets

(2)Included in accrued expenses and other liabilities

(3)Only includes impaired loans with specific loss allocations based on collateral value.

Changes in fair values for financial assets which we have elected the fair value option for the periods presented were as follows:


	Changes in Fair Values for the Three Month Periods Ended March 31 for items Measured at Fair Value Pursuant to Election of the Fair Value Option
	Net Gains on Assets		Mortgage Loan Servicing, net		Total Change in Fair Values Included in Current Period Earnings
	Mortgage Loans
	(In thousands)
2024
Loans held for sale	$	29	$	—	$	29
Capitalized mortgage loan servicing rights	—		506		506

2023
Loans held for sale	1,597		—		1,597
Capitalized mortgage loan servicing rights	—		(1,496)		(1,496)

For those items measured at fair value pursuant to our election of the fair value option, interest income is recorded within the Condensed Consolidated Statements of Operations based on the contractual amount of interest income earned on these financial assets and dividend income is recorded based on cash dividends received.

The following represent impairment charges recognized during the three month periods ended March 31, 2024 and 2023 relating to assets measured at fair value on a non-recurring basis:

•Loans that are individually evaluated using the fair value of collateral for collateral dependent loans had a carrying amount of $6.0 million, which is net of a valuation allowance of $2.3 million at March 31, 2024, and had a carrying amount of $2.0 million, which is net of a valuation allowance of $1.3 million at December 31, 2023. The provision for credit losses included in our results of operations relating to collateral dependent loans was a net expense of $1.6 million and $0.3 million for the three month periods ending March 31, 2024 and 2023, respectively.

A reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) follows:


		Capitalized Mortgage Loan Servicing Rights
	Three Months Ended March 31,
		2024		2023
	(In thousands)
Beginning balance		$	42,243	$	42,489
Total gains (losses) realized and unrealized:
Included in results of operations		506		(1,496)
Included in other comprehensive loss		—		—
Purchases, issuances, settlements, maturities and calls		828		930
Transfers in and/or out of Level 3		—		—
Ending balance		$	43,577	$	41,923

Amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at March 31		$	506	$	(1,496)

The fair value of our capitalized mortgage loan servicing rights has been determined based on a valuation model used by an independent third party as discussed above. The significant unobservable inputs used in the fair value measurement of the capitalized mortgage loan servicing rights are discount rate, cost to service, ancillary income, float rate and prepayment rate. Significant changes in all five of these assumptions in isolation would result in significant changes to the value of our capitalized mortgage loan servicing rights. Quantitative information about our Level 3 fair value measurements measured on a recurring basis follows:


	Asset Fair Value		Valuation Technique	Unobservable Inputs	Range	Weighted Average
	(In thousands)
March 31, 2024
Capitalized mortgage loan servicing rights	$	43,577	Present value of net servicing revenue	Discount rate	9.98% to 16.32%	10.30		%
				Cost to service	$69 to $317	$	78
				Ancillary income	20 to 30	20
				Float rate		4.27		%
				Prepayment rate	6.55% to 27.27%	8.46		%
December 31, 2023
Capitalized mortgage loan servicing rights	$	42,243	Present value of net servicing revenue	Discount rate	10.00% to 14.27%	10.25		%
				Cost to service	$70 to $442	$	79
				Ancillary income	20 to 30	20
				Float rate		3.82		%
				Prepayment rate	6.56% to 26.47%	8.50%

Quantitative information about Level 3 fair value measurements measured on a non-recurring basis follows:

Asset
Fair
Value

Valuation
Technique

Unobservable
Inputs

Range

Weighted
Average

(In thousands)

March 31, 2024

Collateral dependent loans

Commercial(1)

5,035

Discounting financial statement and machinery and equipment appraised values

Discount rates used

28.0% to 50.0%

29.9

Sales comparison approach

Adjustment for differences between comparable sales

(18.0)% to 43.0%

(2.2)

Mortgage and Installment(2)

917

Sales comparison approach

Adjustment for differences between comparable sales

(12.7) to 33.3

1.8

December 31, 2023

Collateral dependent loans

Commercial

551

Sales comparison approach

Adjustment for differences between comparable sales

(5.0)% to 6.0%

(0.4)

Mortgage and Installment(2)

1,468

Sales comparison approach

Adjustment for differences between comparable sales

(4.1) to 10.5

3.1


(1)			$4.1 million of this amount primarily relates to one collateral dependent relationship credit. Collateral securing this relationship primarily included accounts receivable, inventory and machinery and equipment at March 31, 2024. Valuation techniques at March 31, 2024 included discounting financial statement values for accounts receivable and inventory and appraised values for machinery and equipment.
(2)			In addition to the valuation techniques and unobservable inputs discussed above, at March 31, 2024 and December 31, 2023 certain collateral dependent installment loans totaling approximately $0.27 million and $0.45 million, respectively, are secured by collateral other than real estate. For the majority of these loans, we apply internal discount rates to industry valuation guides.

The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding for loans held for sale for which the fair value option has been elected for the periods presented.


	Aggregate Fair Value		Difference		Contractual Principal
	(In thousands)
Loans held for sale
March 31, 2024	$	8,935	$	(32)	$	8,967
December 31, 2023	12,063		(61)		12,124

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Goodwill and Other Intangibles - Summary of Estimated Core Deposits Intangible Amortization (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Summary of estimated core deposits intangible amortization [Abstract]
Nine months ending December 31, 2024	$ 387
2025	487
2026	460
2027	434
2028	107
Total	$ 1,875

Derivative Financial Instruments - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash flow hedge gain (loss) to be reclassified within 12 months	$ (1.1)
Derivative, term of contract	4 years 4 months 24 days

Share Based Compensation - Summary of Restricted Stock and Performance Stock Units (Details) - Long-Term Incentive Plan - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restricted stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)	80,355	71,346
PSU
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)	18,822	18,790

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (c)(1)(ii)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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-Subparagraph (c)(2)(i)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Securities (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Securities Available for Sale

Securities available for sale (“AFS”) consist of the following:


	Amortized Cost		Unrealized
			Gains		Losses		Fair Value
	(In thousands)
March 31, 2024
U.S. agency	$	9,770	$	3	$	848	$	8,925
U.S. agency residential mortgage-backed	88,010		6		9,521		78,495
U.S. agency commercial mortgage-backed	13,464		—		1,409		12,055
Private label mortgage-backed	90,761		255		6,246		84,770
Other asset backed	66,083		17		1,267		64,833
Obligations of states and political subdivisions	331,399		234		38,417		293,216
Corporate	76,056		—		5,673		70,383
Trust preferred	984		—		41		943
Total	$	676,527	$	515	$	63,422	$	613,620

December 31, 2023
U.S. agency	$	10,299	$	5	$	797	$	9,507
U.S. agency residential mortgage-backed	90,195		3		8,981		81,217
U.S. agency commercial mortgage-backed	13,706		—		1,409		12,297
Private label mortgage-backed	93,527		249		7,307		86,469
Other asset backed	114,867		3		1,939		112,931
Obligations of states and political subdivisions	341,177		204		38,644		302,737
Corporate	79,296		—		6,046		73,250
Trust preferred	983		—		41		942
Total	$	744,050	$	464	$	65,164	$	679,350

Debt Securities, Held-to-Maturity

Securities held to maturity (“HTM”) consist of the following:


	Carrying Value		Transferred Unrealized Loss (1)		ACL		Amortized Cost		Unrealized				Fair Value
									Gains		Losses
	(In thousands)
March 31, 2024
U.S. agency	$	25,672	$	1,572	$	—	$	27,244	$	—	$	5,098	$	22,146
U.S. agency residential mortgage-backed	107,123		9,477		—		116,600		—		25,047		91,553
U.S. agency commercial mortgage-backed	4,123		142		—		4,265		—		448		3,817
Private label mortgage-backed	7,313		274		4		7,591		—		804		6,787
Obligations of states and political subdivisions	159,010		6,446		31		165,487		3		19,680		145,810
Corporate	45,767		725		116		46,608		—		6,708		39,900
Trust preferred	949		47		4		1,000		—		—		1,000
Total	$	349,957	$	18,683	$	155	$	368,795	$	3	$	57,785	$	311,013

December 31, 2023
U.S. agency	$	25,768	$	1,603	$	—	$	27,371	$	—	$	4,892	$	22,479
U.S. agency residential mortgage-backed	108,770		9,715		—		118,485		—		23,849		94,636
U.S. agency commercial mortgage-backed	4,146		153		—		4,299		—		460		3,839
Private label mortgage-backed	7,302		302		4		7,608		—		854		6,754
Obligations of states and political subdivisions	161,352		6,879		33		168,264		88		18,807		149,545
Corporate	45,702		803		116		46,621		780		7,033		40,368
Trust preferred	948		48		4		1,000		—		15		985
Total	$	353,988	$	19,503	$	157	$	373,648	$	868	$	55,910	$	318,606

(1)Represents the remaining unrealized loss to be accreted on securities that were transferred from AFS to HTM on April 1, 2022.

Schedule of Unrealized Loss on Investments

Our investments' gross unrealized losses and fair values for securities AFS aggregated by investment type and length of time that individual securities have been at a continuous unrealized loss position follows:


	Less Than Twelve Months				Twelve Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
March 31, 2024
U.S. agency	$	182	$	—	$	7,981	$	848	$	8,163	$	848
U.S. agency residential mortgage-backed	—		—		76,809		9,521		76,809		9,521
U.S. agency commercial mortgage-backed	—		—		12,056		1,409		12,056		1,409
Private label mortgage-backed	3,480		26		79,576		6,220		83,056		6,246
Other asset backed	3,441		28		53,048		1,239		56,489		1,267
Obligations of states and political subdivisions	—		—		293,216		38,417		293,216		38,417
Corporate	—		—		70,383		5,673		70,383		5,673
Trust preferred	—		—		942		41		942		41
Total	$	7,103	$	54	$	594,011	$	63,368	$	601,114	$	63,422

December 31, 2023
U.S. agency	$	130	$	—	$	8,453	$	797	$	8,583	$	797
U.S. agency residential mortgage-backed	358		1		80,008		8,980		80,366		8,981
U.S. agency commercial mortgage-backed	—		—		12,297		1,409		12,297		1,409
Private label mortgage-backed	6,285		356		79,507		6,951		85,792		7,307
Other asset backed	7,714		88		97,203		1,851		104,917		1,939
Obligations of states and political subdivisions	—		—		301,038		38,644		301,038		38,644
Corporate	—		—		73,249		6,046		73,249		6,046
Trust preferred	—		—		942		41		942		41
Total	$	14,487	$	445	$	652,697	$	64,719	$	667,184	$	65,164

Held-to-Maturity, Credit Quality

The carrying value of securities HTM aggregated by credit quality follow:


	Private Label Mortgage- Backed		Obligations of States and Political Subdivisions		Corporate		Trust Preferred		Carrying Value Total
	(In thousands)
March 31, 2024
Credit rating:
AAA	$	7,313	$	36,148	$	—	$	—	$	43,461
AA	—		102,612		—		—		102,612
A	—		3,177		6,930		—		10,107
BBB	—		853		33,960		—		34,813
BB	—		—		1,948		—		1,948
Non-rated	—		16,220		2,929		949		20,098
Total	$	7,313	$	159,010	$	45,767	$	949	$	213,039

December 31, 2023
Credit rating:
AAA	$	7,302	$	36,629	$	—	$	—	$	43,931
AA	—		102,583		—		—		102,583
A	—		3,172		6,923		—		10,095
BBB	—		856		33,913		—		34,769
BB	—		—		1,943		—		1,943
Non-rated	—		18,112		2,923		948		21,983
Total	$	7,302	$	161,352	$	45,702	$	948	$	215,304

Held-to-Maturity, Allowance for Credit Losses

An analysis of the allowance for credit losses by security HTM type for the three months ended March 31 follows:


	Private Label Mortgage- Backed		Obligations of States and Political Subdivisions		Corporate		Trust Preferred		Total
	(In thousands)
2024
Balance at beginning of period	$	4	$	33	$	116	$	4	$	157
Additions (deductions)
Provision for credit losses	—		(2)		(1,125)		—		(1,127)
Recoveries credited to the allowance	—		—		1,125		—		1,125
Securities HTM charged against the allowance	—		—		—		—		—
Balance at end of period	$	4	$	31	$	116	$	4	$	155

2023
Balance at beginning of period	$	1	$	39	$	123	$	5	$	168
Additions (deductions)
Provision for credit losses	—		—		2,993		(1)		2,992
Recoveries credited to the allowance	—		—		—		—		—
Securities HTM charged against the allowance	—		—		(3,000)		—		(3,000)
Balance at end of period	$	1	$	39	$	116	$	4	$	160

Investments Classified by Contractual Maturity Date

The amortized cost and fair value of securities AFS and securities HTM at March 31, 2024, by contractual maturity, follow:


	Securities AFS				Securities HTM
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In thousands)
Maturing within one year	$	4,614	$	4,547	$	4,580	$	4,571
Maturing after one year but within five years	158,488		145,407		56,080		51,390
Maturing after five years but within ten years	53,274		46,945		96,684		82,065
Maturing after ten years	201,833		176,568		82,995		70,830
	418,209		373,467		240,339		208,856
U.S. agency residential mortgage-backed	88,010		78,495		116,600		91,553
U.S. agency commercial mortgage-backed	13,464		12,055		4,265		3,817
Private label mortgage-backed	90,761		84,770		7,591		6,787
Other asset backed	66,083		64,833		—		—
Total	$	676,527	$	613,620	$	368,795	$	311,013

The actual maturity may differ from the contractual maturity because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

Gains and Losses Realized on Sale of Securities Available for Sale

A summary of proceeds from the sale of securities AFS and gains and losses for the three month periods ending March 31, follows:


			Realized
	Proceeds		Gains		Losses
	(In thousands)
2024	$	37,273	$	14	$	283
2023	278		—		222

- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

+ Details

Derivative Financial Instruments - Fair Values of Derivative Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	$ 41,290	$ 38,683
Liability Derivatives	19,344	21,835
Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	22,126	20,313
Liability Derivatives	397	3,359
Derivatives designated as hedging instruments \| Interest Rate Cap \| Other assets
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	534	456
Derivatives designated as hedging instruments \| Interest Rate Cap \| Other liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Liability Derivatives	0	0
Derivatives designated as hedging instruments \| Interest Rate Floor \| Other assets
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	3,626	4,221
Derivatives designated as hedging instruments \| Interest Rate Floor \| Other liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Liability Derivatives	0	0
Derivatives designated as hedging instruments \| Fixed Income Interest Rate \| Interest Rate Swap \| Other assets
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	17,964	15,636
Derivatives designated as hedging instruments \| Fixed Income Interest Rate \| Interest Rate Swap \| Other liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Liability Derivatives	370	3,359
Derivatives designated as hedging instruments \| Variable Income Interest Rate \| Interest Rate Swap \| Other assets
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	2	0
Derivatives designated as hedging instruments \| Variable Income Interest Rate \| Interest Rate Swap \| Other liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Liability Derivatives	27	0
Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	19,164	18,370
Liability Derivatives	18,947	18,476
Derivatives not designated as hedging instruments \| Interest Rate Lock Commitments \| Other assets
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	267	173
Derivatives not designated as hedging instruments \| Interest Rate Lock Commitments \| Other liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Liability Derivatives	0	0
Derivatives not designated as hedging instruments \| Mandatory Commitments to Sell Mortgage Loans \| Other assets
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	0	0
Derivatives not designated as hedging instruments \| Mandatory Commitments to Sell Mortgage Loans \| Other liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Liability Derivatives	50	279
Derivatives not designated as hedging instruments \| Fixed Income Interest Rate \| Interest Rate Swap \| Other assets \| Commercial
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	16,018	12,683
Derivatives not designated as hedging instruments \| Fixed Income Interest Rate \| Interest Rate Swap \| Other liabilities \| Commercial
Derivative Instruments, Gain (Loss) [Line Items]
Liability Derivatives	2,879	5,514
Derivatives not designated as hedging instruments \| Variable Income Interest Rate \| Interest Rate Swap \| Other assets \| Commercial
Derivative Instruments, Gain (Loss) [Line Items]
Asset Derivatives	2,879	5,514
Derivatives not designated as hedging instruments \| Variable Income Interest Rate \| Interest Rate Swap \| Other liabilities \| Commercial
Derivative Instruments, Gain (Loss) [Line Items]
Liability Derivatives	$ 16,018	$ 12,683

Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2024

Regulatory Matters [Abstract]

Capital Amounts and Ratios

Our actual capital amounts and ratios follow (1):


	Actual				Minimum for Adequately Capitalized Institutions				Minimum for Well-Capitalized Institutions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
March 31, 2024
Total capital to risk-weighted assets
Consolidated	$	582,411	13.85	%	$	336,359	8.00	%	NA		NA
Independent Bank	529,972		12.62		336,015		8.00		$	420,019	10.00	%

Tier 1 capital to risk-weighted assets
Consolidated	$	489,747	11.65	%	$	252,269	6.00	%	NA		NA
Independent Bank	477,361		11.37		252,011		6.00		$	336,015	8.00	%

Common equity tier 1 capital to risk-weighted assets
Consolidated	$	451,226	10.73	%	$	189,202	4.50	%	NA		NA
Independent Bank	477,361		11.37		189,008		4.50		$	273,012	6.50	%

Tier 1 capital to average assets
Consolidated	$	489,747	9.29	%	$	210,943	4.00	%	NA		NA
Independent Bank	477,361		9.05		210,909		4.00		$	263,636	5.00	%

December 31, 2023
Total capital to risk-weighted assets
Consolidated	$	573,972	13.71	%	$	335,014	8.00	%	NA		NA
Independent Bank	521,374		12.46		334,673		8.00		$	418,341	10.00	%

Tier 1 capital to risk-weighted assets
Consolidated	$	481,569	11.50	%	$	251,260	6.00	%	NA		NA
Independent Bank	469,023		11.21		251,005		6.00		$	334,673	8.00	%

Common equity tier 1 capital to risk-weighted assets
Consolidated	$	443,065	10.58	%	$	188,445	4.50	%	NA		NA
Independent Bank	469,023		11.21		188,254		4.50		$	271,922	6.50	%

Tier 1 capital to average assets
Consolidated	$	481,569	9.03	%	$	213,227	4.00	%	NA		NA
Independent Bank	469,023		8.80		213,180		4.00		$	266,475	5.00	%

_______________________________________


(1)			These ratios do not reflect a capital conservation buffer of 2.50% at March 31, 2024 and December 31, 2023.

NA - Not applicable

Regulatory Capital

The components of our regulatory capital are as follows:


	Consolidated				Independent Bank
	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
	(In thousands)
Total shareholders' equity	$	415,570	$	404,449	$	441,705	$	430,407
Add (deduct)
Accumulated other comprehensive (income) loss for regulatory purposes	65,831		66,344		65,831		66,344
Goodwill and other intangibles	(30,175)		(30,304)		(30,175)		(30,304)
CECL (1)	—		2,576		—		2,576
Common equity tier 1 capital	451,226		443,065		477,361		469,023
Qualifying trust preferred securities	38,521		38,504		—		—
Tier 1 capital	489,747		481,569		477,361		469,023
Subordinated debt	40,000		40,000		—		—
Allowance for credit losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets	52,664		52,403		52,611		52,351
Total risk-based capital	$	582,411	$	573,972	$	529,972	$	521,374


(1)			We elected the three year CECL transition method for regulatory purposes.

Goodwill and Other Intangibles (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The following table summarizes intangible assets, net of amortization:


	March 31, 2024				December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
	(In thousands)

Amortized intangible assets - core deposits	$	11,916	$	10,041	$	11,916	$	9,912
Unamortized intangible assets - goodwill	$	28,300			$	28,300

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

A summary of estimated core deposits intangible amortization at March 31, 2024 follows:


	(In thousands)

Nine months ending December 31, 2024	387
2025	487
2026	460
2027	434
2028	107
Total	$	1,875

Securities - Securities Available for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Abstract]
Total securities available-for-sale, amortized cost	$ 676,527	$ 744,050
Unrealized gains	515	464
Unrealized losses	63,422	65,164
Fair Value	613,620	679,350
U.S. agency
Debt Securities, Available-for-Sale [Abstract]
Total securities available-for-sale, amortized cost	9,770	10,299
Unrealized gains	3	5
Unrealized losses	848	797
Fair Value	8,925	9,507
U.S. agency residential mortgage-backed
Debt Securities, Available-for-Sale [Abstract]
Total securities available-for-sale, amortized cost	88,010	90,195
Unrealized gains	6	3
Unrealized losses	9,521	8,981
Fair Value	78,495	81,217
U.S. agency commercial mortgage-backed
Debt Securities, Available-for-Sale [Abstract]
Total securities available-for-sale, amortized cost	13,464	13,706
Unrealized gains	0	0
Unrealized losses	1,409	1,409
Fair Value	12,055	12,297
Private label mortgage-backed
Debt Securities, Available-for-Sale [Abstract]
Total securities available-for-sale, amortized cost	90,761	93,527
Unrealized gains	255	249
Unrealized losses	6,246	7,307
Fair Value	84,770	86,469
Other asset backed
Debt Securities, Available-for-Sale [Abstract]
Total securities available-for-sale, amortized cost	66,083	114,867
Unrealized gains	17	3
Unrealized losses	1,267	1,939
Fair Value	64,833	112,931
Obligations of states and political subdivisions
Debt Securities, Available-for-Sale [Abstract]
Total securities available-for-sale, amortized cost	331,399	341,177
Unrealized gains	234	204
Unrealized losses	38,417	38,644
Fair Value	293,216	302,737
Corporate
Debt Securities, Available-for-Sale [Abstract]
Total securities available-for-sale, amortized cost	76,056	79,296
Unrealized gains	0	0
Unrealized losses	5,673	6,046
Fair Value	70,383	73,250
Trust preferred
Debt Securities, Available-for-Sale [Abstract]
Total securities available-for-sale, amortized cost	984	983
Unrealized gains	0	0
Unrealized losses	41	41
Fair Value	$ 943	$ 942

Regulatory Matters

3 Months Ended

Mar. 31, 2024

Regulatory Matters [Abstract]

Regulatory Matters

Capital guidelines adopted by federal and state regulatory agencies and restrictions imposed by law limit the amount of cash dividends our Bank can pay to us. Under these guidelines, the amount of dividends that may be paid in any calendar year is limited to the Bank’s current year net profits, combined with the retained net profits of the preceding two years. Further, the Bank cannot pay a dividend at any time that it has negative undivided profits. As of March 31, 2024, the Bank had positive undivided profits of $187.3 million. It is not our intent to have dividends paid in amounts that would reduce the capital of our Bank to levels below those which we consider prudent or that would not be in accordance with guidelines of regulatory authorities.

We are also subject to various regulatory capital requirements. The prompt corrective action regulations establish quantitative measures to ensure capital adequacy and require minimum amounts and ratios of total, Tier 1, and common equity Tier 1 capital to risk-weighted assets and Tier 1 capital to average assets. Failure to meet minimum capital requirements can result in certain mandatory, and possibly discretionary, actions by regulators that could have a material effect on our interim condensed consolidated financial statements. In addition, capital adequacy rules include a common equity Tier 1 capital conservation buffer of 2.5% of risk-weighted assets that applies to all supervised financial institutions. To avoid limits on capital distributions and certain discretionary bonus payments we must meet the minimum ratio for adequately capitalized institutions plus the buffer. Under capital adequacy guidelines, we must meet specific capital requirements that involve quantitative measures as well as qualitative judgments by the regulators. The most recent regulatory filings as of March 31, 2024 and December 31, 2023, categorized our Bank as well capitalized and exceeding the minimum ratio for adequately capitalized institutions plus the capital conservation buffer. Management is not aware of any conditions or events that would have changed the most recent Federal Deposit Insurance Corporation (“FDIC”) categorization.

Our actual capital amounts and ratios follow (1):


	Actual				Minimum for Adequately Capitalized Institutions				Minimum for Well-Capitalized Institutions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
March 31, 2024
Total capital to risk-weighted assets
Consolidated	$	582,411	13.85	%	$	336,359	8.00	%	NA		NA
Independent Bank	529,972		12.62		336,015		8.00		$	420,019	10.00	%

Tier 1 capital to risk-weighted assets
Consolidated	$	489,747	11.65	%	$	252,269	6.00	%	NA		NA
Independent Bank	477,361		11.37		252,011		6.00		$	336,015	8.00	%

Common equity tier 1 capital to risk-weighted assets
Consolidated	$	451,226	10.73	%	$	189,202	4.50	%	NA		NA
Independent Bank	477,361		11.37		189,008		4.50		$	273,012	6.50	%

Tier 1 capital to average assets
Consolidated	$	489,747	9.29	%	$	210,943	4.00	%	NA		NA
Independent Bank	477,361		9.05		210,909		4.00		$	263,636	5.00	%

December 31, 2023
Total capital to risk-weighted assets
Consolidated	$	573,972	13.71	%	$	335,014	8.00	%	NA		NA
Independent Bank	521,374		12.46		334,673		8.00		$	418,341	10.00	%

Tier 1 capital to risk-weighted assets
Consolidated	$	481,569	11.50	%	$	251,260	6.00	%	NA		NA
Independent Bank	469,023		11.21		251,005		6.00		$	334,673	8.00	%

Common equity tier 1 capital to risk-weighted assets
Consolidated	$	443,065	10.58	%	$	188,445	4.50	%	NA		NA
Independent Bank	469,023		11.21		188,254		4.50		$	271,922	6.50	%

Tier 1 capital to average assets
Consolidated	$	481,569	9.03	%	$	213,227	4.00	%	NA		NA
Independent Bank	469,023		8.80		213,180		4.00		$	266,475	5.00	%

_______________________________________


(1)			These ratios do not reflect a capital conservation buffer of 2.50% at March 31, 2024 and December 31, 2023.

NA - Not applicable

The components of our regulatory capital are as follows:


	Consolidated				Independent Bank
	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
	(In thousands)
Total shareholders' equity	$	415,570	$	404,449	$	441,705	$	430,407
Add (deduct)
Accumulated other comprehensive (income) loss for regulatory purposes	65,831		66,344		65,831		66,344
Goodwill and other intangibles	(30,175)		(30,304)		(30,175)		(30,304)
CECL (1)	—		2,576		—		2,576
Common equity tier 1 capital	451,226		443,065		477,361		469,023
Qualifying trust preferred securities	38,521		38,504		—		—
Tier 1 capital	489,747		481,569		477,361		469,023
Subordinated debt	40,000		40,000		—		—
Allowance for credit losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets	52,664		52,403		52,611		52,351
Total risk-based capital	$	582,411	$	573,972	$	529,972	$	521,374


(1)			We elected the three year CECL transition method for regulatory purposes.

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Share Based Compensation - Outstanding Stock Option Grants and Related Transactions (Details) - Share-Based Payment Arrangement, Option $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)	11,724
Granted (in shares)	0
Exercised (in shares)	(5,583)
Forfeited (in shares)	0
Expired (in shares)	0
Outstanding, ending balance (in shares)	6,141
Vested and expected to vest, period end (in shares)	6,141
Exercisable, period end (in shares)	6,141
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 11.73
Exercised (in dollars per share) \| $ / shares	8.96
Outstanding, ending balance (in dollars per share) \| $ / shares	14.24
Vested and expected to vest, period end (in dollars per share) \| $ / shares	14.24
Exercisable, period end (in dollars per share) \| $ / shares	$ 14.24
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding, period end, weighted average remaining contractual term	3 years
Vested and expected to vest, period end, weighted average remaining contractual term	3 years
Exercisable, period end, weighted average remaining contractual term	3 years
Aggregate Intrinsic Value [Abstract]
Outstanding, period end, aggregate intrinsic value \| $	$ 68
Vested and expected to vest, period end, aggregate intrinsic value \| $	68
Exercisable, period end, aggregate intrinsic value \| $	$ 68

Fair Value Disclosures - Difference Between Aggregate Fair Value and Aggregate Remaining Contractual Principal (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Loans held for sale [Abstract]
Aggregate Fair Value	$ 8,935	$ 12,063
Difference	(32)	(61)
Contractual Principal	$ 8,967	$ 12,124

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest Income
Interest and fees on loans	$ 55,043	$ 44,294
Interest on securities
Taxable	5,251	5,884
Tax-exempt	3,391	3,083
Other investments	1,441	675
Total Interest Income	65,126	53,936
Interest Expense
Deposits	22,810	13,760
Other borrowings and subordinated debt and debentures	2,119	1,735
Total Interest Expense	24,929	15,495
Net Interest Income	40,197	38,441
Provision for credit losses	744	2,160
Net Interest Income After Provision for Credit Losses	39,453	36,281
Non-interest Income
Interchange income	3,151	3,205
Service charges on deposit accounts	2,872	2,857
Net gains (losses) on assets
Mortgage loans	1,364	1,256
Securities available for sale	(269)	(222)
Mortgage loan servicing, net	2,725	726
Other	2,718	2,729
Total Non-interest Income	12,561	10,551
Non-interest Expense
Compensation and employee benefits	20,770	19,339
Data processing	3,255	2,991
Occupancy, net	2,074	2,159
Interchange expense	1,097	1,049
Furniture, fixtures and equipment	954	926
FDIC deposit insurance	782	783
Communications	615	668
Loan and collection	512	578
Advertising	491	495
Legal and professional	486	607
Costs (recoveries) related to unfunded lending commitments	(652)	(475)
Other	1,809	1,837
Total Non-interest Expense	32,193	30,957
Income Before Income Tax	19,821	15,875
Income tax expense	3,830	2,884
Net Income	$ 15,991	$ 12,991
Net Income Per Common Share
Basic (in dollars per share)	$ 0.77	$ 0.62
Diluted (in dollars per share)	$ 0.76	$ 0.61

Securities - Securities Held to Maturity (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Securities held to maturity	$ 349,957,000	$ 353,988,000
Debt securities, held-to-maturity, transferred unrealized loss	18,683,000	19,503,000
Debt securities, held-to-maturity, allowance for credit loss	155,000	157,000	$ 160,000	$ 168,000
Total securities held-to-maturity, amortized cost	368,795,000	373,648,000
Debt securities, held-to-maturity, unrealized gains	3,000	868,000
Debt securities, held-to-maturity, unrealized losses	57,785,000	55,910,000
Debt securities, held-to-maturity, fair value	311,013,000	318,606,000
U.S. agency
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Securities held to maturity	25,672,000	25,768,000
Debt securities, held-to-maturity, transferred unrealized loss	1,572,000	1,603,000
Debt securities, held-to-maturity, allowance for credit loss	0	0
Total securities held-to-maturity, amortized cost	27,244,000	27,371,000
Debt securities, held-to-maturity, unrealized gains	0	0
Debt securities, held-to-maturity, unrealized losses	5,098,000	4,892,000
Debt securities, held-to-maturity, fair value	22,146,000	22,479,000
U.S. agency residential mortgage-backed
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Securities held to maturity	107,123,000	108,770,000
Debt securities, held-to-maturity, transferred unrealized loss	9,477,000	9,715,000
Debt securities, held-to-maturity, allowance for credit loss	0	0
Total securities held-to-maturity, amortized cost	116,600,000	118,485,000
Debt securities, held-to-maturity, unrealized gains	0	0
Debt securities, held-to-maturity, unrealized losses	25,047,000	23,849,000
Debt securities, held-to-maturity, fair value	91,553,000	94,636,000
U.S. agency commercial mortgage-backed
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Securities held to maturity	4,123,000	4,146,000
Debt securities, held-to-maturity, transferred unrealized loss	142,000	153,000
Debt securities, held-to-maturity, allowance for credit loss	0	0
Total securities held-to-maturity, amortized cost	4,265,000	4,299,000
Debt securities, held-to-maturity, unrealized gains	0	0
Debt securities, held-to-maturity, unrealized losses	448,000	460,000
Debt securities, held-to-maturity, fair value	3,817,000	3,839,000
Private label mortgage-backed
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Securities held to maturity	7,313,000	7,302,000
Debt securities, held-to-maturity, transferred unrealized loss	274,000	302,000
Debt securities, held-to-maturity, allowance for credit loss	4,000	4,000	1,000	1,000
Total securities held-to-maturity, amortized cost	7,591,000	7,608,000
Debt securities, held-to-maturity, unrealized gains	0	0
Debt securities, held-to-maturity, unrealized losses	804,000	854,000
Debt securities, held-to-maturity, fair value	6,787,000	6,754,000
Obligations of states and political subdivisions
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Securities held to maturity	159,010,000	161,352,000
Debt securities, held-to-maturity, transferred unrealized loss	6,446,000	6,879,000
Debt securities, held-to-maturity, allowance for credit loss	31,000	33,000	39,000	39,000
Total securities held-to-maturity, amortized cost	165,487,000	168,264,000
Debt securities, held-to-maturity, unrealized gains	3,000	88,000
Debt securities, held-to-maturity, unrealized losses	19,680,000	18,807,000
Debt securities, held-to-maturity, fair value	145,810,000	149,545,000
Corporate
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Securities held to maturity	45,767,000	45,702,000
Debt securities, held-to-maturity, transferred unrealized loss	725,000	803,000
Debt securities, held-to-maturity, allowance for credit loss	116,000	116,000	116,000	123,000
Total securities held-to-maturity, amortized cost	46,608,000	46,621,000
Debt securities, held-to-maturity, unrealized gains	0	780,000
Debt securities, held-to-maturity, unrealized losses	6,708,000	7,033,000
Debt securities, held-to-maturity, fair value	39,900,000	40,368,000
Trust preferred
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss [Abstract]
Securities held to maturity	949,000	948,000
Debt securities, held-to-maturity, transferred unrealized loss	47,000	48,000
Debt securities, held-to-maturity, allowance for credit loss	4,000	4,000	$ 4,000	$ 5,000
Total securities held-to-maturity, amortized cost	1,000,000	1,000,000
Debt securities, held-to-maturity, unrealized gains	0	0
Debt securities, held-to-maturity, unrealized losses	0	15,000
Debt securities, held-to-maturity, fair value	$ 1,000,000	$ 985,000

Loans - Narrative (Details)	3 Months Ended
Loans - Narrative (Details)	Mar. 31, 2024 USD ($) Loan	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Troubled loan modification		$ 0
Troubled loan modification, term increase	7 years 2 months 12 days
Troubled loan modification, subsequent default		0
Past due period for modified loans	90 days
Real estate acquired through foreclosure	$ 1,000,000		$ 600,000
Mortgage loans in process of foreclosure, amount	100,000		$ 600,000
Proceeds from the sale of loans held for investment	6,808,000	41,237,000
Mortgage loans	1,364,000	1,256,000
Fixed Rate Residential Mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Proceeds from the sale of loans held for investment	6,800,000	41,200,000
Mortgage loans	$ 110,000	$ (160,000)
Mortgage \| 1-4 family owner occupied - non-jumbo
Financing Receivable, Allowance for Credit Loss [Line Items]
Troubled loan modification, number of loans \| Loan	2
Troubled loan modification	$ 310,000
Troubled loan modifications to total loans, percentage	0.10%
Mortgage \| 1-4 family - 2nd lien
Financing Receivable, Allowance for Credit Loss [Line Items]
Troubled loan modification, number of loans \| Loan	1
Troubled loan modification	$ 70,000.00
Troubled loan modifications to total loans, percentage	0.10%
Installment \| Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Troubled loan modification, number of loans \| Loan	1
Troubled loan modification	$ 10,000.00
Troubled loan modifications to total loans, percentage	0.00%

Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles

The following table summarizes intangible assets, net of amortization:


	March 31, 2024				December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
	(In thousands)

Amortized intangible assets - core deposits	$	11,916	$	10,041	$	11,916	$	9,912
Unamortized intangible assets - goodwill	$	28,300			$	28,300

A summary of estimated core deposits intangible amortization at March 31, 2024 follows:


	(In thousands)

Nine months ending December 31, 2024	387
2025	487
2026	460
2027	434
2028	107
Total	$	1,875

Accumulated Other Comprehensive Income (Loss) ("AOCIL") (Tables)

3 Months Ended

Mar. 31, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

A summary of changes in AOCIL follows:


	Unrealized Losses on Securities AFS		Unrealized Losses on Securities Transferred to Securities HTM (1)		Dispropor- tionate Tax Effects from Securities AFS		Unrealized Gains (Losses) on Derivative Instruments		Total
	(In thousands)















For the three months ended March 31,
2024
Balances at beginning of period	$	(51,113)	$	(15,408)	$	(5,798)	$	177	$	(72,142)
Other comprehensive income (loss) before reclassifications	1,203		648		—		(1,761)		90
Amounts reclassified from AOCIL	213		—		—		210		423
Net current period other comprehensive income (loss)	1,416		648		—		(1,551)		513
Balances at end of period	$	(49,697)	$	(14,760)	$	(5,798)	$	(1,374)	$	(71,629)

2023
Balances at beginning of period	$	(68,742)	$	(18,223)	$	(5,798)	$	—	$	(92,763)
Other comprehensive income (loss) before reclassifications	11,370		672		—		(331)		11,711
Amounts reclassified from AOCIL	175		—		—		66		241
Net current period other comprehensive income (loss)	11,545		672		—		(265)		11,952
Balances at end of period	$	(57,197)	$	(17,551)	$	(5,798)	$	(265)	$	(80,811)

(1)Represents the remaining unrealized loss to be accreted on securities that were transferred from AFS to HTM on April 1, 2022.

Reclassifications Out of Each Component of AOCIL

A summary of reclassifications out of each component of AOCIL for the three months ended March 31 follows:


AOCIL Component	Amount Reclassified From AOCIL		Affected Line Item in Condensed Consolidated Statements of Operations
	(In thousands)
2024
Unrealized losses on securities available for sale
	$	(269)	Net gains (losses) on securities available for sale
	(56)		Income tax expense
	$	(213)	Reclassifications, net of tax

Unrealized gains (losses) on derivative instruments
	$	266	Interest income
	56		Income tax expense
	$	210	Reclassifications, net of tax

	$	(423)	Total reclassifications for the period, net of tax

2023
Unrealized losses on securities available for sale
	$	(222)	Net gains (losses) on securities available for sale
	(47)		Income tax expense
	$	(175)	Reclassifications, net of tax

Unrealized gains (losses) on derivative instruments
	$	84	Interest income
	18		Income tax expense
	$	66	Reclassifications, net of tax

	$	(241)	Total reclassifications for the period, net of tax

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balances at beginning of period at Dec. 31, 2022	$ 347,596	$ 320,991	$ 119,368	$ (92,763)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,991		12,991
Cash dividends declared	(4,860)		(4,860)
Issuance of common stock	48	48
Share based compensation	569	569
Share based compensation withholding obligation	(582)	(582)
Other comprehensive income (loss)	11,952			11,952
Balances at end of period at Mar. 31, 2023	367,714	321,026	127,499	(80,811)
Balances at beginning of period at Dec. 31, 2023	404,449	317,483	159,108	(72,142)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,991		15,991
Cash dividends declared	(4,999)		(4,999)
Share based compensation	591	591
Share based compensation withholding obligation	(975)	(975)
Other comprehensive income (loss)	513			513
Balances at end of period at Mar. 31, 2024	$ 415,570	$ 317,099	$ 170,100	$ (71,629)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
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+ Details

Securities - Gains and Losses Realized on Sale of Securities Available for Sale (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Debt Securities, Available-for-Sale, Realized Gain (Loss) [Abstract]
Proceeds from the sale of securities available for sale	$ 37,273	$ 278
Gain on sale of securities available-for-sale	14	0
Loss on sale of securities available-for-sale	$ 283	$ 222

Accumulated Other Comprehensive Income (Loss) ("AOCIL")

3 Months Ended

Mar. 31, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss) ("AOCIL")

Accumulated Other Comprehensive Income (Loss) (“AOCIL”)

A summary of changes in AOCIL follows:


	Unrealized Losses on Securities AFS		Unrealized Losses on Securities Transferred to Securities HTM (1)		Dispropor- tionate Tax Effects from Securities AFS		Unrealized Gains (Losses) on Derivative Instruments		Total
	(In thousands)















For the three months ended March 31,
2024
Balances at beginning of period	$	(51,113)	$	(15,408)	$	(5,798)	$	177	$	(72,142)
Other comprehensive income (loss) before reclassifications	1,203		648		—		(1,761)		90
Amounts reclassified from AOCIL	213		—		—		210		423
Net current period other comprehensive income (loss)	1,416		648		—		(1,551)		513
Balances at end of period	$	(49,697)	$	(14,760)	$	(5,798)	$	(1,374)	$	(71,629)

2023
Balances at beginning of period	$	(68,742)	$	(18,223)	$	(5,798)	$	—	$	(92,763)
Other comprehensive income (loss) before reclassifications	11,370		672		—		(331)		11,711
Amounts reclassified from AOCIL	175		—		—		66		241
Net current period other comprehensive income (loss)	11,545		672		—		(265)		11,952
Balances at end of period	$	(57,197)	$	(17,551)	$	(5,798)	$	(265)	$	(80,811)

(1)Represents the remaining unrealized loss to be accreted on securities that were transferred from AFS to HTM on April 1, 2022.

The disproportionate tax effects from securities AFS arose due to tax effects of other comprehensive income (“OCI”) in the presence of a valuation allowance against our deferred tax assets and a pretax loss from operations. Generally, the amount of income tax expense or benefit allocated to operations is determined without regard to the tax effects of other categories of income or loss, such as OCI. However, an exception to the general rule is provided when, in the presence of a valuation allowance against deferred tax assets, there is a pretax loss from operations and pretax income from other categories in the current period. In such instances, income from other categories must offset the current loss from operations, the tax benefit of such offset being reflected in operations. Release of material disproportionate tax effects from other comprehensive income to earnings is done by the portfolio method whereby the effects will remain in AOCIL as long as we carry a more than inconsequential portfolio of securities AFS.

A summary of reclassifications out of each component of AOCIL for the three months ended March 31 follows:


AOCIL Component	Amount Reclassified From AOCIL		Affected Line Item in Condensed Consolidated Statements of Operations
	(In thousands)
2024
Unrealized losses on securities available for sale
	$	(269)	Net gains (losses) on securities available for sale
	(56)		Income tax expense
	$	(213)	Reclassifications, net of tax

Unrealized gains (losses) on derivative instruments
	$	266	Interest income
	56		Income tax expense
	$	210	Reclassifications, net of tax

	$	(423)	Total reclassifications for the period, net of tax

2023
Unrealized losses on securities available for sale
	$	(222)	Net gains (losses) on securities available for sale
	(47)		Income tax expense
	$	(175)	Reclassifications, net of tax

Unrealized gains (losses) on derivative instruments
	$	84	Interest income
	18		Income tax expense
	$	66	Reclassifications, net of tax

	$	(241)	Total reclassifications for the period, net of tax

Shareholders' Equity and Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

A reconciliation of basic and diluted net income per common share follows:


	Three Months Ended March 31,
	2024		2023
	(In thousands, except per share data)
Net income	$	15,991	$	12,991

Weighted average shares outstanding (1)	20,877		21,104
Stock units for deferred compensation plan for non-employee directors	175		150
Performance share units	25		22
Effect of stock options	3		21
Weighted average shares outstanding for calculation of diluted earnings per share	21,080		21,297

Net income per common share
Basic (1)	$	0.77	$	0.62
Diluted	$	0.76	$	0.61

(1)Basic net income per common share includes weighted average common shares outstanding during the period and participating share awards.

Regulatory Matters (Details) $ in Thousands	3 Months Ended
Regulatory Matters (Details) $ in Thousands	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Banking Regulation, Tier 1 Leverage Capital [Abstract]
Capital conservation buffer	0.0250	0.0250
Components of regulatory capital [Abstract]
Total shareholders' equity	$ 415,570	$ 404,449	$ 367,714	$ 347,596
Add (deduct)
Accumulated other comprehensive (income) loss for regulatory purposes	(71,629)	(72,142)
Subordinated debt	$ 39,529	39,510
Period of transition method for regulatory purposes	3 years
Consolidated
Banking Regulation, Total Capital [Abstract]
Total risk-based capital	$ 582,411	$ 573,972
Actual, ratio	0.1385	0.1371
Banking regulation, total risk-based capital, capital adequacy, minimum	$ 336,359	$ 335,014
Minimum for adequately capitalized institutions, ratio	0.0800	0.0800
Tier 1 capital to risk-weighted assets [Abstract]
Actual, amount	$ 489,747	$ 481,569
Banking regulation, tier 1 risk-based capital ratio, accrual	0.1165	0.1150
Minimum for adequately capitalized institutions, amount	$ 252,269	$ 251,260
Minimum for adequately capitalized institutions, ratio	0.0600	0.0600
Common equity tier 1 capital to risk-weighted assets [Abstract]
Actual, amount	$ 451,226	$ 443,065
Actual, ratio	0.1073	0.1058
Minimum for adequately capitalized institutions, amount	$ 189,202	$ 188,445
Minimum for adequately capitalized institutions, ratio	0.0450	0.0450
Banking Regulation, Tier 1 Leverage Capital [Abstract]
Tier 1 capital	$ 489,747	$ 481,569
Actual, ratio	0.0929	0.0903
Minimum for adequately capitalized institutions, amount	$ 210,943	$ 213,227
Minimum for adequately capitalized institutions, ratio	0.0400	0.0400
Components of regulatory capital [Abstract]
Total shareholders' equity	$ 415,570	$ 404,449
Add (deduct)
Accumulated other comprehensive (income) loss for regulatory purposes	65,831	66,344
Goodwill and other intangibles	(30,175)	(30,304)
CECL	0	2,576
Common equity tier 1 capital	451,226	443,065
Qualifying trust preferred securities	38,521	38,504
Tier 1 capital	489,747	481,569
Subordinated debt	40,000	40,000
Allowance for credit losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets	52,664	52,403
Total risk-based capital	582,411	573,972
Independent Bank
Banking Regulation, Total Capital [Abstract]
Total risk-based capital	$ 529,972	$ 521,374
Actual, ratio	0.1262	0.1246
Banking regulation, total risk-based capital, capital adequacy, minimum	$ 336,015	$ 334,673
Minimum for adequately capitalized institutions, ratio	0.0800	0.0800
Minimum for well-capitalized institutions, amount	$ 420,019	$ 418,341
Minimum for well-capitalized institutions, ratio	0.1000	0.1000
Tier 1 capital to risk-weighted assets [Abstract]
Actual, amount	$ 477,361	$ 469,023
Banking regulation, tier 1 risk-based capital ratio, accrual	0.1137	0.1121
Minimum for adequately capitalized institutions, amount	$ 252,011	$ 251,005
Minimum for adequately capitalized institutions, ratio	0.0600	0.0600
Minimum for well-capitalized institutions, amount	$ 336,015	$ 334,673
Minimum for well capitalized institutions, ratio	0.0800	0.0800
Common equity tier 1 capital to risk-weighted assets [Abstract]
Actual, amount	$ 477,361	$ 469,023
Actual, ratio	0.1137	0.1121
Minimum for adequately capitalized institutions, amount	$ 189,008	$ 188,254
Minimum for adequately capitalized institutions, ratio	0.0450	0.0450
Minimum for well-capitalized institutions, amount	$ 273,012	$ 271,922
Minimum for well-capitalized institutions, ratio	0.0650	0.0650
Banking Regulation, Tier 1 Leverage Capital [Abstract]
Tier 1 capital	$ 477,361	$ 469,023
Actual, ratio	0.0905	0.0880
Minimum for adequately capitalized institutions, amount	$ 210,909	$ 213,180
Minimum for adequately capitalized institutions, ratio	0.0400	0.0400
Banking regulation, tier 1 leverage, capital, well capitalized, minimum	$ 263,636	$ 266,475
Minimum for well capitalized institutions, ratio	0.0500	0.0500
Components of regulatory capital [Abstract]
Total shareholders' equity	$ 441,705	$ 430,407
Add (deduct)
Accumulated other comprehensive (income) loss for regulatory purposes	65,831	66,344
Goodwill and other intangibles	(30,175)	(30,304)
CECL	0	2,576
Common equity tier 1 capital	477,361	469,023
Qualifying trust preferred securities	0	0
Tier 1 capital	477,361	469,023
Subordinated debt	0	0
Allowance for credit losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets	52,611	52,351
Total risk-based capital	$ 529,972	$ 521,374

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Lease, Cost [Abstract]
Operating lease cost	$ 346	$ 362
Variable lease cost	11	24
Short-term lease cost	24	22
Total	381	$ 408
Assets and Liabilities, Lessee [Abstract]
Lease right of use asset	6,744		$ 4,911
Lease liabilities	$ 6,953		$ 5,114
Weighted average remaining lease term (years)	7 years 7 months 17 days		6 years 10 days
Weighted average discount rate	3.60%		2.70%
Operating lease, right-of-use asset, statement of financial position [extensible enumeration]	Other Assets		Other Assets
Operating lease, liability, statement of financial position [extensible enumeration]	Other Liabilities		Other Liabilities
Lessee, Operating Lease, Liability, to be Paid [Abstract]
Nine months ending December 31, 2024	$ 1,001
2025	1,288
2026	1,122
2027	939
2028	916
2029 and thereafter	2,861
Total lease payments	8,127
Less imputed interest	(1,174)
Total	$ 6,953		$ 5,114

Fair Values of Financial Instruments

3 Months Ended

Mar. 31, 2024

Fair Values of Financial Instruments [Abstract]

Fair Values of Financial Instruments

Most of our assets and liabilities are considered financial instruments. Many of these financial instruments lack an available trading market and it is our general practice and intent to hold the majority of our financial instruments to maturity. Significant estimates and assumptions were used to determine the fair value of financial instruments. These estimates are subjective in nature, involving uncertainties and matters of judgment, and therefore, fair values may not be a precise estimate. Changes in assumptions could significantly affect the estimates.

Estimated fair values have been determined using available data and methodologies that are considered suitable for each category of financial instrument. For instruments with adjustable interest rates which reprice frequently and without significant credit risk, it is presumed that estimated fair values approximate the recorded book balances.

The estimated recorded book balances and fair values follow:


					Fair Value Using
	Recorded Book Balance		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Un- observable Inputs (Level 3)
	(In thousands)
March 31, 2024
Assets
Cash and due from banks	$	41,646	$	41,646	$	41,646	$	—	$	—
Interest bearing deposits	120,198		120,198		120,198		—		—
Securities available for sale	613,620		613,620		—		613,620		—
Securities held to maturity	349,957		311,013		—		311,013		—
Federal Home Loan Bank and Federal
Reserve Bank Stock	16,821		NA		NA		NA		NA
Net loans and loans held for sale	3,792,587		3,542,984		—		8,935		3,534,049
Accrued interest receivable	18,774		18,774		191		5,541		13,042
Derivative financial instruments	41,290		41,290		—		41,290		—

Liabilities
Deposits with no stated maturity (1)	$	3,751,701	$	3,751,701	$	3,751,701	$	—	$	—
Deposits with stated maturity (1)	830,713		826,829		—		826,829		—
Other borrowings	49,977		49,889		—		49,889		—
Subordinated debt	39,529		38,994		—		38,994		—
Subordinated debentures	39,745		39,643		—		39,643		—
Accrued interest payable	6,501		6,501		479		6,022		—
Derivative financial instruments	19,344		19,344		—		19,344		—

December 31, 2023
Assets
Cash and due from banks	$	68,208	$	68,208	$	68,208	$	—	$	—
Interest bearing deposits	101,573		101,573		101,573		—		—
Securities available for sale	679,350		679,350		—		679,350		—
Securities held to maturity	353,988		318,606		—		318,606		—
Federal Home Loan Bank and Federal
Reserve Bank Stock	16,821		NA		NA		NA		NA
Net loans and loans held for sale	3,748,306		3,453,790		—		12,063		3,441,727
Accrued interest receivable	19,044		19,044		58		6,486		12,500
Derivative financial instruments	38,683		38,683		—		38,683		—

Liabilities
Deposits with no stated maturity (1)	$	3,704,808	$	3,704,808	$	3,704,808	$	—	$	—
Deposits with stated maturity (1)	918,071		914,404		—		914,404		—
Other borrowings	50,026		49,831		—		49,831		—
Subordinated debt	39,510		40,352		—		40,352		—
Subordinated debentures	39,728		38,103		—		38,103		—
Accrued interest payable	6,534		6,534		482		6,052		—
Derivative financial instruments	21,835		21,835		—		21,835		—


(1)			Deposits with no stated maturity include reciprocal deposits with a recorded book balance of $781.645 million and $723.014 million at March 31, 2024 and December 31, 2023, respectively. Deposits with a stated maturity include reciprocal deposits with a recorded book balance of $111.998 million and $109.006 million at March 31, 2024 and December 31, 2023, respectively.

The fair values for commitments to extend credit and standby letters of credit are estimated to approximate their aggregate book balance, which is nominal and therefore are not disclosed.

Fair value estimates are made at a specific 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 the entire holdings of a particular financial instrument.

Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business, the value of future earnings attributable to off-balance sheet activities and the value of assets and liabilities that are not considered financial instruments.

Fair value estimates for deposit accounts do not include the value of the core deposit intangible asset resulting from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market.

Preparation of Financial Statements	3 Months Ended
Preparation of Financial Statements	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Preparation of Financial Statements	Preparation of Financial Statements The condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes for the year ended December 31, 2023 included in our Annual Report on Form 10-K. In our opinion, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary to present fairly our consolidated financial condition as of March 31, 2024 and December 31, 2023, and the results of operations for the three-month periods ended March 31, 2024 and 2023. The results of operations for the three-month periods ended March 31, 2024, are not necessarily indicative of the results to be expected for the full year. Certain reclassifications have been made in the prior period condensed consolidated financial statements to conform to the current period presentation. Our critical accounting policies include the determination of the allowance for credit losses (“ACL”) and the valuation of capitalized mortgage loan servicing rights. Refer to our 2023 Annual Report on Form 10-K for a disclosure of our accounting policies.

Share Based Compensation

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Share Based Compensation

We maintain share based payment plans that include a non-employee director stock purchase plan and a long-term incentive plan that permits the issuance of share based compensation, including stock options and non-vested share awards. The long-term incentive plan, which is shareholder approved, permits the grant of additional share based awards for up to 0.4 million shares of common stock as of March 31, 2024. The non-employee director stock purchase plan permits the issuance of additional share based payments for up to 0.1 million shares of common stock as of March 31, 2024. Share based awards and payments are measured at fair value at the date of grant and are expensed over the requisite service period. Common shares issued upon exercise of stock options come from currently authorized but unissued shares.

A summary of restricted stock and performance stock units (“PSU”) granted pursuant to our long-term incentive plan follows:


	Three Months Ended March 31,
		2024	2023

Restricted stock		80,355	71,346
PSU		18,822	18,790

The shares of restricted stock and PSUs shown in the above table cliff vest after a period of three years. The performance criteria of the PSUs is split evenly between a comparison of (i) our total shareholder return and (ii) our return on average assets each over the three year period starting on the grant date to these same criteria over that period to an index of our banking peers.

Our directors may elect to receive all or a portion of their cash retainer fees in the form of common stock (either on a current basis or on a deferred basis) pursuant to the non-employee director stock purchase plan referenced above. Shares equal in value to that portion of each director’s fees that he or she has elected to receive in stock on a current basis are issued each quarter and vest immediately. Shares issued on a deferred basis are credited at the rate of 90% of the current

fair value of our common stock and vest immediately. During the three month periods ended March 31, 2024 and 2023 we issued 0.002 million and 0.004 million shares, respectively and expensed their value during those same periods.

Total compensation expense recognized for grants pursuant to our long-term incentive plan was $0.5 million during both three month periods ended March 31, 2024 and 2023, respectively. The corresponding tax benefit relating to this expense was $0.1 million during both three month periods ended March 31, 2024 and 2023, respectively. Total expense recognized for non-employee director share based payments was $0.07 million and $0.09 million during three month periods ended March 31, 2024 and 2023, respectively. The corresponding tax benefit relating to this expense was $0.01 million and $0.02 million for three month periods ended March 31, 2024 and 2023, respectively.

At March 31, 2024, the total expected compensation cost related to non-vested restricted stock and PSUs not yet recognized was $4.3 million. The weighted-average period over which this amount will be recognized is 2.3 years.

A summary of outstanding stock option grants and related transactions follows:


	Number of Shares	Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregated Intrinsic Value
					(In thousands)
Outstanding at January 1, 2024	11,724	$	11.73
Granted	—	—
Exercised	(5,583)	8.96
Forfeited	—	—
Expired	—	—
Outstanding at March 31, 2024	6,141	$	14.24	3.0	$	68

Vested and expected to vest at March 31, 2024	6,141	$	14.24	3.0	$	68
Exercisable at March 31, 2024	6,141	$	14.24	3.0	$	68

A summary of outstanding non-vested stock and related transactions follows:


	Number of Shares	Weighted- Average Grant Date Fair Value
Outstanding at January 1, 2024	269,233	$	22.93
Granted	99,177	24.51
Vested	(91,899)	20.43
Forfeited	(587)	23.80
Outstanding at March 31, 2024	275,924	$	24.33

Certain information regarding options exercised during the periods follows:


	Three Months Ended March 31,
		2024		2023
	(In thousands)
Intrinsic value		$	91	$	223
Cash proceeds received		$	—	$	100
Tax benefit realized		$	19	$	47

Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

We account for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers. We derive the majority of our revenue from financial instruments and their related contractual rights and obligations which for the most part are excluded from the scope of this topic. These sources of revenue that are excluded from the scope of this topic include interest income, net gains on mortgage loans, net gains (losses) on securities AFS, mortgage loan servicing, net and bank owned life insurance and were approximately 89.0% and 86.5% of total revenues for the three month periods ending March 31, 2024 and 2023, respectively.

Material sources of revenue that are included in the scope of this topic include service charges on deposit accounts, other deposit related income, interchange income and investment and insurance commissions and are discussed in the following paragraphs. Generally these sources of revenue are earned at the time the service is delivered or over the course of a

monthly period and do not result in any contract asset or liability balance at any given period end. As a result, there were no contract assets or liabilities recorded as of March 31, 2024 and December 31, 2023.

Service charges on deposit accounts and other deposit related income: Revenues are earned on depository accounts for commercial and retail customers and include fees for transaction-based, account maintenance and overdraft services. Transaction-based fees, which includes services such as ATM use fees, stop payment charges and ACH fees are recognized at the time the transaction is executed as that is the time we fulfill our customer’s request. Account maintenance fees, which includes monthly maintenance services are earned over the course of a month representing the period over which the performance obligation is satisfied. Our obligation for overdraft services is satisfied at the time of the overdraft.

Interchange income: Interchange income primarily includes debit card interchange and network revenues. Debit card interchange and network revenues are earned on debit card transactions conducted through payment networks such as MasterCard and Accel. Interchange income is recognized concurrently with the delivery of services on a daily basis. Interchange and network revenues are presented gross of interchange expenses, which are presented separately as a component of non-interest expense.

Investment and insurance commissions: Investment and insurance commissions include fees and commissions from asset management, custody, recordkeeping, investment advisory and other services provided to our customers. Revenue is recognized on an accrual basis at the time the services are performed and generally based on either the market value of the assets managed or the services provided. We have an agent relationship with a third party provider of these services and net certain direct costs charged by the third party provider associated with providing these services to our customers.

Net (gains) losses on other real estate and repossessed assets: We record a gain or loss from the sale of other real estate when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. If we were to finance the sale of other real estate to the buyer, we would assess whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction is probable. Once these criteria are met, the other real estate asset would be derecognized and the gain or loss on sale would be recorded upon the transfer of control of the property to the buyer. There were no other real estate properties sold during the three month periods ending March 31, 2024 and 2023 that were financed by us.

Disaggregation of our revenue sources by attribute follows:



	Service Charges on Deposit Accounts		Other Deposit Related Income		Interchange Income		Investment and Insurance Commissions		Total
Three months ending March 31, 2024	(In thousands)
Retail
Overdraft fees	$	2,189	$	—	$	—	$	—	$	2,189
Account service charges	573		—		—		—		573
ATM fees	—		383		—		—		383
Other	—		250		—		—		250
Business
Overdraft fees	110		—		—		—		110
ATM fees	—		11		—		—		11
Other	—		104		—		—		104
Interchange income	—		—		3,151		—		3,151
Asset management revenue	—		—		—		493		493
Transaction based revenue	—		—		—		311		311

Total	$	2,872	$	748	$	3,151	$	804	$	7,575

Reconciliation to Condensed Consolidated Statement of Operations:
Non-interest income - other:
Other deposit related income									$	748
Investment and insurance commissions									804
Bank owned life insurance (1)									181
Other (1)									985
Total									$	2,718

(1)Excluded from the scope of ASC Topic 606.



	Service Charges on Deposit Accounts		Other Deposit Related Income		Interchange Income		Investment and Insurance Commissions		Total
Three months ending March 31, 2023	(In thousands)
Retail
Overdraft fees	$	2,261	$	—	$	—	$	—	$	2,261
Account service charges	467		—		—		—		467
ATM fees	—		329		—		—		329
Other	—		247		—		—		247
Business
Overdraft fees	129		—		—		—		129
ATM fees	—		9		—		—		9
Other	—		91		—		—		91
Interchange income	—		—		3,205		—		3,205
Asset management revenue	—		—		—		442		442
Transaction based revenue	—		—		—		385		385

Total	$	2,857	$	676	$	3,205	$	827	$	7,565

Reconciliation to Condensed Consolidated Statement of Operations:
Non-interest income - other:
Other deposit related income									$	676
Investment and insurance commissions									827
Bank owned life insurance (1)									111
Other (1)									1,115
Total									$	2,729

(1)Excluded from the scope of ASC Topic 606.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Shareholders' Equity and Earnings Per Common Share - Earnings Per Share Reconciliation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share Reconciliation [Abstract]
Net income	$ 15,991	$ 12,991
Weighted average shares outstanding (in shares)	20,877	21,104
Stock units for deferred compensation plan for non-employee directors (in shares)	175	150
Performance share units (in shares)	25	22
Effect of stock options (in shares)	3	21
Weighted average shares outstanding for calculation of diluted earnings per share (in shares)	21,080	21,297
Net income per common share
Basic (in dollars per share)	$ 0.77	$ 0.62
Diluted (in dollars per share)	$ 0.76	$ 0.61

Share Based Compensation - Outstanding Non-vested Restricted Stock and PSUs and Related Transactions (Details) - Non-vested Restricted Stock and PSU's	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Number of Shares [Roll Forward]
Outstanding, beginning balance (in shares) \| shares	269,233
Granted (in shares) \| shares	99,177
Vested (in shares) \| shares	(91,899)
Forfeited (in shares) \| shares	(587)
Outstanding, ending balance (in shares) \| shares	275,924
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 22.93
Granted (in dollars per share) \| $ / shares	24.51
Vested (in dollars per share) \| $ / shares	20.43
Forfeited (in dollars per share) \| $ / shares	23.80
Outstanding, ending balance (in dollars per share) \| $ / shares	$ 24.33

Contingencies - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024 shares	Apr. 25, 2024 USD ($) $ / shares
VISA Class B Common Stock
Visa Stock [Abstract]
Number of shares owned (in shares) \| shares	12,566
VISA Class B Common Stock \| Subsequent Event
Visa Stock [Abstract]
Current value of shares owned \| $		$ 5.5
Investment Owned, Balance To Be Recognized, Remainder Of Fiscal Year		50.00%
VISA Class A Common Stock
Visa Stock [Abstract]
Current conversion ratio	1.5875
VISA Class A Common Stock \| Subsequent Event
Visa Stock [Abstract]
Closing price (in dollars per share) \| $ / shares		$ 275.16

Loans

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Loans

We estimate the ACL based on relevant available information from both internal and external sources, including historical loss trends, current conditions and forecasts, specific analysis of individual loans, and other relevant and appropriate factors. The allowance process is designed to provide for expected future losses based on our reasonable and supportable (“R&S”) forecast as of the reporting date. Our ACL process is administered by our Risk Management group utilizing a third party software solution, with significant input and ultimate approval from our Executive Enterprise Risk Committee. Further, we have established a current expected credit loss ("CECL") Forecast Committee, which includes a cross discipline structure with membership from Executive Management, Risk Management, Credit Administration and Accounting, which approves ACL model assumptions each quarter. Our ACL is comprised of three principal elements: (i) specific analysis of individual loans identified during the review of the loan portfolio, (ii) pooled analysis of loans with similar risk characteristics based on historical experience, adjusted for current conditions, R&S forecasts, and expected prepayments, and (iii) additional allowances based on subjective factors, including local and general economic business factors and trends, portfolio concentrations and changes in the size and/or the general terms of the loan portfolio.

The first ACL element (specific allocations) includes loans that do not share similar risk characteristics and are evaluated on an individual basis. We will typically evaluate on an individual basis loans that are on nonaccrual; commercial loans that have been modified resulting in a concession, for which the borrower is experiencing financial difficulties, and which are considered troubled loan modifications or with well defined weaknesses; and severely delinquent mortgage and installment loans. When we determine that foreclosure is probable or when repayment is expected to be provided substantially through the operation or sale of underlying collateral, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for estimated selling costs. For loans evaluated on an individual basis that are not determined to be collateral dependent, a discounted cash flow analysis is performed to determine expected credit losses.

The second ACL element (pooled analysis) includes loans with similar risk characteristics, which are broken down by segment, class, and risk metric. The Bank’s primary segments of commercial, mortgage, and installment loans are further classified by other relevant attributes, such as collateral type, lien position, occupancy status, amortization method, and balance size. Commercial classes are additionally segmented by risk rating, and mortgage and installment loan classes by credit score tier, which are updated at least semi-annually.

We utilize a discounted cash flow (“DCF”) model to estimate expected future losses for pooled loans. Expected future cash flows are developed from payment schedules over the contractual term, adjusted for forecasted default (probability of default), loss, and prepayment assumptions. We are not required to develop forecasts over the full contractual term of the financial asset or group of financial assets. Rather, for periods beyond which we are able to make or obtain R&S forecasts of expected credit losses, we revert to the long term average on a straight line or immediate basis, as determined by our CECL Forecast Committee, and which may vary depending on the economic outlook and uncertainty.

The DCF model for the mortgage and installment pooled loan segments includes using probability of default (“PD”) assumptions that are derived through regression analysis with forecasted US unemployment levels by credit score tier. We review a composite forecast of approximately 50 analysts as well as the Federal Open Market Committee (“FOMC”) projections in setting the unemployment forecast for the R&S period. The current ACL utilizes a one year R&S forecast followed by immediate reversion to the 75 year average unemployment rate. PD assumptions for the remaining segments are based primarily on historical rates by risk metric as defaults were not strongly correlated with any economic indicator. Loss given default (“LGD”) assumptions for the mortgage loan segment are based on a two year forecast followed by a two year straight line reversion period to the longer term average, while LGD rates for the remaining segments are the historical average for the entire period. Prepayment assumptions represent average rates per segment for a period determined by the CECL Forecast Committee and as calculated through the Bank’s Asset and Liability Management program.

Pooled reserves for the commercial loan segment are calculated using the DCF model with assumptions generally based on historical averages by class and risk rating. Effective risk rating practices allow for strong predictability of defaults and losses over the portfolio’s expected shorter duration, relative to mortgage and installment loans. Our rating system is similar to those employed by state and federal banking regulators.

The third ACL element (additional allocations based on subjective factors) is based on factors that cannot be associated with a specific credit or loan category and reflects our attempt to ensure that the overall ACL appropriately reflects a margin for the imprecision necessarily inherent in the estimates of expected credit losses. We adjust our quantitative model for certain qualitative factors to reflect the extent to which management expects current conditions and R&S forecasts to differ from the conditions that existed for the period over which historical information was evaluated. The qualitative framework reflects changes related to relevant data, such as changes in asset quality trends, portfolio growth and

composition, national and local economic factors, credit policy and administration and other factors not considered in the base quantitative model. We utilize a survey completed by business unit management throughout the Bank, as well as discussion with the CECL Forecast Committee to establish reserves under the qualitative framework.

An analysis of the ACL by portfolio segment for the three months ended March 31, follows:


	Commercial		Mortgage		Installment		Subjective Allocation		Total
	(In thousands)
2024
Balance at beginning of period	$	16,724	$	21,386	$	4,126	$	12,422	$	54,658
Additions (deductions)
Provision for credit losses	2,194		(366)		(127)		170		1,871
Recoveries credited to the allowance	64		82		450		—		596
Loans charged against the allowance	—		(199)		(613)		—		(812)
Balance at end of period	$	18,982	$	20,903	$	3,836	$	12,592	$	56,313

2023
Balance at beginning of period	$	13,817	$	21,633	$	4,290	$	12,695	$	52,435
Additions (deductions)
Provision for credit losses	648		(1,574)		(61)		155		(832)
Recoveries credited to the allowance	28		84		466		—		578
Loans charged against the allowance	(960)		(30)		(641)		—		(1,631)
Balance at end of period	$	13,533	$	20,113	$	4,054	$	12,850	$	50,550

Loans on non-accrual status and past due more than 90 days (“Non-performing Loans”) follow:


	Non- Accrual with no Allowance for Credit Loss		Non- Accrual with an Allowance for Credit Loss		Total Non- Accrual		90+ and Still Accruing		Total Non- Performing Loans
	(In thousands)
March 31, 2024
Commercial
Commercial and industrial (1)	$	—	$	6	$	6	$	—	$	6
Commercial real estate	—		—		—		—		—
Mortgage
1-4 family owner occupied - jumbo	—		—		—		—		—
1-4 family owner occupied - non-jumbo (2)	1,439		779		2,218		—		2,218
1-4 family non-owner occupied	—		119		119		—		119
1-4 family - 2nd lien	—		444		444		—		444
Resort lending	—		193		193		—		193
Installment
Boat lending	—		187		187		—		187
Recreational vehicle lending	—		387		387		—		387
Other	—		136		136		—		136
Total	$	1,439	$	2,251	$	3,690	$	—	$	3,690

Accrued interest excluded from total	$	—	$	—	$	—	$	—	$	—

December 31, 2023
Commercial
Commercial and industrial (1)	$	—	$	7	$	7	$	—	$	7
Commercial real estate	—		—		—		—		—
Mortgage
1-4 family owner occupied - jumbo	544		—		544		—		544
1-4 family owner occupied - non-jumbo (2)	575		1,655		2,230		432		2,662
1-4 family non-owner occupied	—		282		282		—		282
1-4 family - 2nd lien	—		624		624		—		624
Resort lending	—		143		143		—		143
Installment
Boat lending	—		352		352		—		352
Recreational vehicle lending	—		419		419		—		419
Other	—		199		199		—		199
Total	$	1,119	$	3,681	$	4,800	$	432	$	5,232

Accrued interest excluded from total	$	—	$	—	$	—	$	—	$	—

(1)Non-performing commercial and industrial loans exclude $0.019 million and $0.021 million of government guaranteed loans at March 31, 2024 and December 31, 2023, respectively.

(2)Non-performing 1-4 family owner occupied – non jumbo loans exclude $1.646 million and $2.170 million of government guaranteed loans at March 31, 2024 and December 31, 2023, respectively.

The following table provides collateral information by class of loan for collateral-dependent loans with a specific reserve. A loan is considered to be collateral dependent when the borrower is experiencing financial difficulty and the repayment is expected to be provided substantially through the operation or sale of collateral.

The amortized cost of collateral-dependent loans by class follows:


	Collateral Type				Allowance for Credit Losses
	Real Estate		Other
	(In thousands)
March 31, 2024
Commercial
Commercial and industrial	$	659	$	6,175	$	1,796
Commercial real estate	—		—		—
Mortgage
1-4 family owner occupied - jumbo	—		—		—
1-4 family owner occupied - non-jumbo	2,122		—		243
1-4 family non-owner occupied	—		—		—
1-4 family - 2nd lien	131		—		46
Resort lending	193		—		68
Installment
Boat lending	—		116		41
Recreational vehicle lending	—		240		85
Other	—		55		19
Total	$	3,105	$	6,586	$	2,298

Accrued interest excluded from total	$	1	$	43

December 31, 2023
Commercial
Commercial and industrial	$	565	$	232	$	224
Commercial real estate	—		—		—
Mortgage
1-4 family owner occupied - jumbo	544		—		—
1-4 family owner occupied - non-jumbo	2,243		—		504
1-4 family non-owner occupied	211		—		178
1-4 family - 2nd lien	244		—		87
Resort lending	143		—		51
Installment
Boat lending	—		297		105
Recreational vehicle lending	—		303		107
Other	—		102		36
Total	$	3,950	$	934	$	1,292

Accrued interest excluded from total	$	1	$	—

An aging analysis of loans by class follows:


	Loans Past Due								Loans not Past Due		Total Loans
	30-59 days		60-89 days		90+ days		Total
	(In thousands)
March 31, 2024
Commercial
Commercial and industrial	$	—	$	—	$	25	$	25	$	865,252	$	865,277
Commercial real estate	2,115		—		—		2,115		867,892		870,007
Mortgage
1-4 family owner occupied - jumbo	670		—		—		670		860,106		860,776
1-4 family owner occupied - non-jumbo	2,613		1,039		663		4,315		301,015		305,330
1-4 family non-owner occupied	165		—		—		165		172,934		173,099
1-4 family - 2nd lien	811		113		93		1,017		116,385		117,402
Resort lending	—		—		193		193		33,641		33,834
Installment
Boat lending	77		66		116		259		267,346		267,605
Recreational vehicle lending	658		250		187		1,095		244,802		245,897
Other	239		95		42		376		100,362		100,738
Total	$	7,348	$	1,563	$	1,319	$	10,230	$	3,829,735	$	3,839,965

Accrued interest excluded from total	$	70	$	14	$	—	$	84	$	12,958	$	13,042

December 31, 2023
Commercial
Commercial and industrial	$	—	$	—	$	28	$	28	$	810,117	$	810,145
Commercial real estate	—		—		—		—		869,586		869,586
Mortgage
1-4 family owner occupied - jumbo	—		—		544		544		858,692		859,236
1-4 family owner occupied - non-jumbo	1,763		742		1,431		3,936		297,236		301,172
1-4 family non-owner occupied	215		64		158		437		173,379		173,816
1-4 family - 2nd lien	241		139		215		595		115,437		116,032
Resort lending	—		50		143		193		35,423		35,616
Installment
Boat lending	320		16		261		597		268,051		268,648
Recreational vehicle lending	414		35		280		729		251,123		251,852
Other	313		86		54		453		104,345		104,798
Total	$	3,266	$	1,132	$	3,114	$	7,512	$	3,783,389	$	3,790,901
Accrued interest excluded from total	$	31	$	17	$	—	$	48	$	12,452	$	12,500

During the three months ended March 31, 2024 there were two mortgage - 1-4 family owner occupied - non-jumbo loans, one mortgage 1-4 family - 2nd lien loan, and one installment - other loan modified as a troubled loan modifications totaling $0.31 million (0.1% of the total loan class), $0.07 million (0.1% of the total loan class), and $0.01 million (0.0% of the total loan class), respectively. All of the troubled loan modifications during the three months ended March 31, 2024 related to term extensions and added a weighted average 7.2 years to the life of the loans. All of the loans modified during the three months ended March 31, 2024 were on non-accrual status. During the three months ended March 31, 2023, there were no troubled loan modifications or subsequent defaults.

A loan is generally considered to be in payment default once it is 90 days contractually past due under the modified terms for commercial loans and installment loans and when four consecutive payments are missed for mortgage loans..

In order to determine whether a borrower is experiencing financial difficulty, we perform an evaluation of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under our internal underwriting policy.

Credit Quality Indicators – As part of our on-going monitoring of the credit quality of our loan portfolios, we track certain credit quality indicators including (a) risk grade of commercial loans, (b) the level of classified commercial loans, (c) credit scores of mortgage and installment loan borrowers, and (d) delinquency history and non-performing loans.

For commercial loans, we use a loan rating system that is similar to those employed by state and federal banking regulators. Loans are graded on a scale of 1 to 12. A description of the general characteristics of the ratings follows:

Rating 1 through 6: These loans are generally referred to as our “non-watch” commercial credits that include very high or exceptional credit fundamentals through acceptable credit fundamentals.

Rating 7 and 8: These loans are generally referred to as our “watch” commercial credits. These ratings include loans to borrowers that exhibit potential credit weakness or downward trends. If not checked or cured these trends could weaken our asset or credit position. While potentially weak, no loss of principal or interest is envisioned with these ratings.

Rating 9: These loans are generally referred to as our “substandard accruing” commercial credits. This rating includes loans to borrowers that exhibit a well-defined weakness where payment default is probable and loss is possible if deficiencies are not corrected. Generally, loans with this rating are considered collectible as to both principal and interest primarily due to collateral coverage.

Rating 10 and 11: These loans are generally referred to as our ‘‘substandard - non-accrual’’ and ‘‘doubtful’’ commercial credits. These ratings include loans to borrowers with weaknesses that make collection of the loan in full, on the basis of current facts, conditions and values at best questionable and at worst improbable. All of these loans are placed in non-accrual.

Rating 12: These loans are generally referred to as our “loss” commercial credits. This rating includes loans to borrowers that are deemed incapable of repayment and are charged-off.

The following tables summarize loan ratings by loan class for our commercial portfolio loan segment at March 31, 2024 and December 31, 2023:


	Commercial
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2024		2023		2022		2021		2020		Prior
	(In thousands)
March 31, 2024
Commercial and industrial
Non-watch (1-6)	$	42,708	$	130,170	$	146,630	$	76,745	$	89,907	$	119,738	$	228,570	$	834,468
Watch (7-8)	—		2,380		5,406		2,589		3,285		5,974		4,342		23,976
Substandard Accrual (9)	—		—		—		834		311		—		5,663		6,808
Non-Accrual (10-11)	—		—		—		—		—		25		—		25
Total	$	42,708	$	132,550	$	152,036	$	80,168	$	93,503	$	125,737	$	238,575	$	865,277
Accrued interest excluded from total	$	159	$	378	$	433	$	187	$	438	$	392	$	1,212	$	3,199
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate
Non-watch (1-6)	$	20,840	$	224,288	$	179,805	$	120,384	$	54,477	$	200,198	$	61,444	$	861,436
Watch (7-8)	—		—		—		142		—		8,429		—		8,571
Substandard Accrual (9)	—		—		—		—		—		—		—		—
Non-Accrual (10-11)	—		—		—		—		—		—		—		—
Total	$	20,840	$	224,288	$	179,805	$	120,526	$	54,477	$	208,627	$	61,444	$	870,007
Accrued interest excluded from total	$	78	$	562	$	730	$	355	$	156	$	786	$	284	$	2,951
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total Commercial
Non-watch (1-6)	$	63,548	$	354,458	$	326,435	$	197,129	$	144,384	$	319,936	$	290,014	$	1,695,904
Watch (7-8)	—		2,380		5,406		2,731		3,285		14,403		4,342		32,547
Substandard Accrual (9)	—		—		—		834		311		—		5,663		6,808
Non-Accrual (10-11)	—		—		—		—		—		25		—		25
Total	$	63,548	$	356,838	$	331,841	$	200,694	$	147,980	$	334,364	$	300,019	$	1,735,284
Accrued interest excluded from total	$	237	$	940	$	1,163	$	542	$	594	$	1,178	$	1,496	$	6,150
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
December 31, 2023
Commercial and industrial
Non-watch (1-6)	$	110,472	$	152,715	$	70,081	$	47,644	$	42,576	$	97,960	$	260,634	$	782,082
Watch (7-8)	96		5,239		964		2,580		4,173		2,277		11,938		27,267
Substandard Accrual (9)	—		—		547		—		21		4		196		768
Non-Accrual (10-11)	—		—		—		—		—		28		—		28
Total	$	110,568	$	157,954	$	71,592	$	50,224	$	46,770	$	100,269	$	272,768	$	810,145
Accrued interest excluded from total	$	239	$	438	$	132	$	128	$	120	$	326	$	1,327	$	2,710
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	69	$	25	$	94

Commercial real estate
Non-watch (1-6)	$	202,576	$	169,230	$	131,428	$	29,684	$	78,706	$	176,265	$	73,852	$	861,741
Watch (7-8)	—		—		—		—		2,322		5,523		—		7,845
Substandard Accrual (9)	—		—		—		—		—		—		—		—
Non-Accrual (10-11)	—		—		—		—		—		—		—		—
Total	$	202,576	$	169,230	$	131,428	$	29,684	$	81,028	$	181,788	$	73,852	$	869,586
Accrued interest excluded from total	$	548	$	685	$	431	$	73	$	347	$	661	$	288	$	3,033
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	960	$	—	$	—	$	960

Total Commercial
Non-watch (1-6)	$	313,048	$	321,945	$	201,509	$	77,328	$	121,282	$	274,225	$	334,486	$	1,643,823
Watch (7-8)	96		5,239		964		2,580		6,495		7,800		11,938		35,112
Substandard Accrual (9)	—		—		547		—		21		4		196		768
Non-Accrual (10-11)	—		—		—		—		—		28		—		28
Total	$	313,144	$	327,184	$	203,020	$	79,908	$	127,798	$	282,057	$	346,620	$	1,679,731
Accrued interest excluded from total	$	787	$	1,123	$	563	$	201	$	467	$	987	$	1,615	$	5,743
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	960	$	69	$	25	$	1,054

For each of our mortgage and installment portfolio segment classes, we generally monitor credit quality based on the credit scores of the borrowers. These credit scores are generally updated semi-annually.

The following tables summarize credit scores by loan class for our mortgage and installment loan portfolio segments at March 31, 2024 and December 31, 2023:


	Mortgage (1)
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2024		2023		2022		2021		2020		Prior
	(In thousands)
March 31, 2024
1-4 family owner occupied - jumbo
800 and above	$	—	$	6,391	$	30,065	$	62,291	$	17,539	$	13,209	$	599	$	130,094
750-799	4,790		45,043		120,167		191,794		61,545		38,406		2,369		464,114
700-749	3,253		14,060		51,988		66,116		24,304		15,851		1,500		177,072
650-699	—		8,802		13,420		24,509		12,867		7,077		505		67,180
600-649	—		1,637		8,464		1,946		502		5,757		—		18,306
550-599	—		—		—		523		1,900		—		—		2,423
500-549	—		—		—		—		917		670		—		1,587
Under 500	—		—		—		—		—		—		—		—
Unknown	—		—		—		—		—		—		—		—
Total	$	8,043	$	75,933	$	224,104	$	347,179	$	119,574	$	80,970	$	4,973	$	860,776
Accrued interest excluded from total	$	31	$	334	$	692	$	799	$	300	$	275	$	34	$	2,465
Current period gross charge-offs	$	—	$	—	$	22	$	—	$	—	$	—	$	—	$	22

1-4 family owner occupied - non-jumbo
800 and above	$	1,464	$	2,437	$	9,867	$	8,070	$	5,381	$	11,442	$	3,228	$	41,889
750-799	952		15,202		31,512		21,596		11,516		25,557		8,408		114,743
700-749	3,924		13,565		17,556		11,759		7,731		22,753		4,915		82,203
650-699	7,549		1,898		5,018		4,543		2,507		14,352		1,103		36,970
600-649	—		205		964		1,686		828		7,374		91		11,148
550-599	—		188		661		70		1,691		5,784		65		8,459
500-549	—		—		—		1,244		993		4,443		—		6,680
Under 500	—		—		311		464		280		2,183		—		3,238
Unknown	—		—		—		—		—		—		—		—
Total	$	13,889	$	33,495	$	65,889	$	49,432	$	30,927	$	93,888	$	17,810	$	305,330
Accrued interest excluded from total	$	21	$	181	$	214	$	128	$	82	$	374	$	146	$	1,146
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

1-4 family non-owner occupied
800 and above	$	265	$	3,140	$	6,067	$	12,145	$	3,341	$	9,035	$	631	$	34,624
750-799	3,056		9,949		16,864		26,806		11,432		19,297		3,443		90,847
700-749	626		3,885		6,802		8,780		4,191		7,248		1,729		33,261
650-699	—		216		1,961		1,823		2,028		3,453		210		9,691
600-649	—		—		386		1,437		—		1,333		311		3,467
550-599	—		—		61		52		—		821		—		934
500-549	—		—		—		—		—		140		—		140
Under 500	—		—		—		—		—		135		—		135
Unknown	—		—		—		—		—		—		—		—
Total	$	3,947	$	17,190	$	32,141	$	51,043	$	20,992	$	41,462	$	6,324	$	173,099
Accrued interest excluded from total	$	13	$	82	$	123	$	149	$	58	$	179	$	51	$	655
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	155	$	—	$	155


	Mortgage - continued (1)
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2024		2023		2022		2021		2020		Prior
	(In thousands)
March 31, 2024 - continued
1-4 family - 2nd lien
800 and above	$	—	$	476	$	153	$	697	$	784	$	706	$	9,502	$	12,318
750-799	276		2,202		3,620		2,536		2,509		3,749		38,095		52,987
700-749	537		1,836		1,493		1,636		726		2,574		25,106		33,908
650-699	—		641		591		221		533		2,246		8,813		13,045
600-649	32		51		141		137		146		631		1,717		2,855
550-599	—		—		80		202		39		441		524		1,286
500-549	—		—		—		11		—		525		280		816
Under 500	—		—		18		—		—		169		—		187
Unknown	—		—		—		—		—		—		—		—
Total	$	845	$	5,206	$	6,096	$	5,440	$	4,737	$	11,041	$	84,037	$	117,402
Accrued interest excluded from total	$	4	$	20	$	24	$	13	$	16	$	51	$	669	$	797
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	22	$	22

Resort lending
800 and above	$	—	$	—	$	—	$	98	$	—	$	5,467	$	—	$	5,565
750-799	—		41		814		903		850		12,363		—		14,971
700-749	—		—		107		300		111		4,989		—		5,507
650-699	—		—		—		—		314		6,136		—		6,450
600-649	—		—		—		—		48		834		—		882
550-599	—		—		—		—		—		265		—		265
500-549	—		—		—		—		—		58		—		58
Under 500	—		—		—		—		—		136		—		136
Unknown	—		—		—		—		—		—		—		—
Total	$	—	$	41	$	921	$	1,301	$	1,323	$	30,248	$	—	$	33,834
Accrued interest excluded from total	$	—	$	—	$	4	$	4	$	4	$	147	$	—	$	159
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total Mortgage
800 and above	$	1,729	$	12,444	$	46,152	$	83,301	$	27,045	$	39,859	$	13,960	$	224,490
750-799	9,074		72,437		172,977		243,635		87,852		99,372		52,315		737,662
700-749	8,340		33,346		77,946		88,591		37,063		53,415		33,250		331,951
650-699	7,549		11,557		20,990		31,096		18,249		33,264		10,631		133,336
600-649	32		1,893		9,955		5,206		1,524		15,929		2,119		36,658
550-599	—		188		802		847		3,630		7,311		589		13,367
500-549	—		—		—		1,255		1,910		5,836		280		9,281
Under 500	—		—		329		464		280		2,623		—		3,696
Unknown	—		—		—		—		—		—		—		—
Total	$	26,724	$	131,865	$	329,151	$	454,395	$	177,553	$	257,609	$	113,144	$	1,490,441
Accrued interest excluded from total	$	69	$	617	$	1,057	$	1,093	$	460	$	1,026	$	900	$	5,222
Current period gross charge-offs	$	—	$	—	$	22	$	—	$	—	$	155	$	22	$	199


	Mortgage (1)
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
December 31, 2023
1-4 family owner occupied - jumbo
800 and above	$	6,299	$	30,789	$	63,377	$	17,672	$	4,503	$	8,813	$	1,084	$	132,537
750-799	42,726		117,454		193,587		61,986		24,288		14,836		1,586		456,463
700-749	14,965		51,991		66,597		25,170		4,738		11,768		1,500		176,729
650-699	11,274		13,804		24,648		12,949		2,142		5,881		—		70,698
600-649	1,638		7,815		2,486		505		3,198		2,592		—		18,234
550-599	—		—		527		1,908		—		—		—		2,435
500-549	—		544		—		923		—		673		—		2,140
Under 500	—		—		—		—		—		—		—		—
Unknown	—		—		—		—		—		—		—		—
Total	$	76,902	$	222,397	$	351,222	$	121,113	$	38,869	$	44,563	$	4,170	$	859,236
Accrued interest excluded from total	$	329	$	669	$	785	$	299	$	107	$	156	$	30	$	2,375
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

1-4 family owner occupied - non-jumbo
800 and above	$	2,280	$	10,083	$	7,780	$	5,425	$	2,802	$	9,130	$	3,029	$	40,529
750-799	13,233		32,729		21,664		12,306		5,954		19,852		8,462		114,200
700-749	11,696		18,133		11,661		8,136		3,280		20,042		4,482		77,430
650-699	9,576		5,717		4,606		2,524		2,393		12,369		1,500		38,685
600-649	136		1,334		1,694		833		1,096		6,415		84		11,592
550-599	188		624		71		1,705		557		5,390		65		8,600
500-549	—		—		1,335		998		413		4,077		—		6,823
Under 500	—		311		462		272		518		1,750		—		3,313
Unknown	—		—		—		—		—		—		—		—
Total	$	37,109	$	68,931	$	49,273	$	32,199	$	17,013	$	79,025	$	17,622	$	301,172
Accrued interest excluded from total	$	153	$	235	$	119	$	78	$	56	$	331	$	139	$	1,111
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	29	$	—	$	29

1-4 family non-owner occupied
800 and above	$	2,320	$	6,026	$	12,338	$	3,474	$	3,048	$	6,030	$	1,199	$	34,435
750-799	10,937		16,635		28,051		11,545		6,709		13,400		3,498		90,775
700-749	3,904		7,013		8,825		4,145		667		6,719		2,095		33,368
650-699	216		1,879		1,844		2,543		197		3,521		277		10,477
600-649	—		388		1,445		—		75		1,226		362		3,496
550-599	—		61		52		—		—		873		—		986
500-549	—		—		—		—		—		142		—		142
Under 500	—		—		—		—		—		137		—		137
Unknown	—		—		—		—		—		—		—		—
Total	$	17,377	$	32,002	$	52,555	$	21,707	$	10,696	$	32,048	$	7,431	$	173,816
Accrued interest excluded from total	$	77	$	125	$	149	$	60	$	35	$	146	$	62	$	654
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


	Mortgage - continued (1)
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
December 31, 2023 - (continued)
1-4 family - 2nd lien
800 and above	$	537	$	156	$	703	$	389	$	159	$	1,153	$	9,817	$	12,914
750-799	2,260		2,879		2,359		2,341		898		3,084		38,277		52,098
700-749	1,895		1,243		1,464		324		224		2,348		25,849		33,347
650-699	425		285		182		519		302		1,869		8,945		12,527
600-649	51		107		97		67		37		563		1,886		2,808
550-599	—		80		203		—		157		238		638		1,316
500-549	—		—		12		—		—		487		331		830
Under 500	—		19		—		—		77		61		35		192
Unknown	—		—		—		—		—		—		—		—
Total	$	5,168	$	4,769	$	5,020	$	3,640	$	1,854	$	9,803	$	85,778	$	116,032
Accrued interest excluded from total	$	19	$	14	$	10	$	7	$	6	$	41	$	707	$	804
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	5	$	—	$	5

Resort lending
800 and above	$	—	$	—	$	99	$	—	$	—	$	5,643	$	—	$	5,742
750-799	41		817		910		858		179		12,649		—		15,454
700-749	—		108		871		111		—		5,439		—		6,529
650-699	—		—		—		316		—		6,219		—		6,535
600-649	—		—		—		49		—		844		—		893
550-599	—		—		—		—		—		267		—		267
500-549	—		—		—		—		—		59		—		59
Under 500	—		—		—		—		—		137		—		137
Unknown	—		—		—		—		—		—		—		—
Total	$	41	$	925	$	1,880	$	1,334	$	179	$	31,257	$	—	$	35,616
Accrued interest excluded from total	$	—	$	4	$	3	$	4	$	—	$	142	$	—	$	153
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	120	$	—	$	120

Total Mortgage
800 and above	$	11,436	$	47,054	$	84,297	$	26,960	$	10,512	$	30,769	$	15,129	$	226,157
750-799	69,197		170,514		246,571		89,036		38,028		63,821		51,823		728,990
700-749	32,460		78,488		89,418		37,886		8,909		46,316		33,926		327,403
650-699	21,491		21,685		31,280		18,851		5,034		29,859		10,722		138,922
600-649	1,825		9,644		5,722		1,454		4,406		11,640		2,332		37,023
550-599	188		765		853		3,613		714		6,768		703		13,604
500-549	—		544		1,347		1,921		413		5,438		331		9,994
Under 500	—		330		462		272		595		2,085		35		3,779
Unknown	—		—		—		—		—		—		—		—
Total	$	136,597	$	329,024	$	459,950	$	179,993	$	68,611	$	196,696	$	115,001	$	1,485,872
Accrued interest excluded from total	$	578	$	1,047	$	1,066	$	448	$	204	$	816	$	938	$	5,097
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	154	$	—	$	154

(1)Credit scores have been updated within the last twelve months.


	Installment (1)
	Term Loans Amortized Cost Basis by Origination Year
	2024		2023		2022		2021		2020		Prior		Total
	(In thousands)
March 31, 2024
Boat lending
800 and above	$	1,393	$	5,830	$	7,969	$	8,052	$	3,424	$	11,105	$	37,773
750-799	6,199		32,477		34,702		28,306		15,499		32,620		149,803
700-749	2,490		14,910		14,676		11,589		4,334		11,499		59,498
650-699	582		3,566		2,783		4,157		1,513		3,878		16,479
600-649	—		279		424		533		262		762		2,260
550-599	—		85		305		225		136		376		1,127
500-549	—		—		151		203		96		178		628
Under 500	—		—		—		—		—		37		37
Unknown	—		—		—		—		—		—		—
Total	$	10,664	$	57,147	$	61,010	$	53,065	$	25,264	$	60,455	$	267,605
Accrued interest excluded from total	$	46	$	208	$	148	$	124	$	60	$	141	$	727
Current period gross charge-offs	$	—	$	—	$	31	$	8	$	—	$	49	$	88

Recreational vehicle lending
800 and above	$	522	$	2,883	$	10,034	$	11,068	$	3,272	$	8,732	$	36,511
750-799	2,891		14,566		39,695		37,766		12,142		18,878		125,938
700-749	1,690		6,346		18,112		19,564		5,054		7,718		58,484
650-699	200		2,447		4,990		5,934		1,636		1,952		17,159
600-649	61		699		689		1,545		386		675		4,055
550-599	—		75		300		897		69		494		1,835
500-549	—		—		851		319		149		284		1,603
Under 500	—		—		107		104		33		68		312
Unknown	—		—		—		—		—		—		—
Total	$	5,364	$	27,016	$	74,778	$	77,197	$	22,741	$	38,801	$	245,897
Accrued interest excluded from total	$	20	$	108	$	198	$	184	$	53	$	88	$	651
Current period gross charge-offs	$	—	$	18	$	33	$	21	$	—	$	2	$	74

Other
800 and above	$	427	$	1,430	$	1,527	$	1,453	$	783	$	1,148	$	6,768
750-799	2,590		10,898		10,151		6,121		3,168		5,271		38,199
700-749	9,882		7,064		5,968		4,543		2,017		3,960		33,434
650-699	9,357		2,521		2,667		1,357		568		1,534		18,004
600-649	72		493		549		358		126		462		2,060
550-599	54		32		278		230		30		189		813
500-549	—		95		241		216		38		77		667
Under 500	—		—		87		47		11		91		236
Unknown	557		—		—		—		—		—		557
Total	$	22,939	$	22,533	$	21,468	$	14,325	$	6,741	$	12,732	$	100,738
Accrued interest excluded from total	$	26	$	92	$	56	$	32	$	16	$	70	$	292
Current period gross charge-offs	$	358	$	16	$	51	$	—	$	2	$	24	$	451


	Installment (1)
	Term Loans Amortized Cost Basis by Origination Year
	2024		2023		2022		2021		2020		Prior		Total
	(In thousands)
March 31, 2024 - continued
Total installment
800 and above	$	2,342	$	10,143	$	19,530	$	20,573	$	7,479	$	20,985	$	81,052
750-799	11,680		57,941		84,548		72,193		30,809		56,769		313,940
700-749	14,062		28,320		38,756		35,696		11,405		23,177		151,416
650-699	10,139		8,534		10,440		11,448		3,717		7,364		51,642
600-649	133		1,471		1,662		2,436		774		1,899		8,375
550-599	54		192		883		1,352		235		1,059		3,775
500-549	—		95		1,243		738		283		539		2,898
Under 500	—		—		194		151		44		196		585
Unknown	557		—		—		—		—		—		557
Total	$	38,967	$	106,696	$	157,256	$	144,587	$	54,746	$	111,988	$	614,240
Accrued interest excluded from total	$	92	$	408	$	402	$	340	$	129	$	299	$	1,670
Current period gross charge-offs	$	358	$	34	$	115	$	29	$	2	$	75	$	613


	Installment - continued (1)
	Term Loans Amortized Cost Basis by Origination Year
	2023		2022		2021		2020		2019		Prior		Total
	(In thousands)
December 31, 2023
Boat lending
800 and above	$	6,110	$	8,150	$	8,250	$	3,612	$	4,061	$	7,665	$	37,848
750-799	34,174		35,921		29,665		16,329		13,173		21,432		150,694
700-749	15,593		15,042		11,859		4,481		4,757		7,279		59,011
650-699	3,652		3,029		4,277		1,545		1,237		2,842		16,582
600-649	281		432		808		268		171		620		2,580
550-599	85		344		229		139		108		335		1,240
500-549	—		152		207		97		—		198		654
Under 500	—		—		—		—		—		39		39
Unknown	—		—		—		—		—		—		—
Total	$	59,895	$	63,070	$	55,295	$	26,471	$	23,507	$	40,410	$	268,648
Accrued interest excluded from total	$	216	$	154	$	132	$	63	$	58	$	91	$	714
Current period gross charge-offs	$	—	$	53	$	—	$	—	$	15	$	53	$	121

Recreational vehicle lending
800 and above	$	3,168	$	10,759	$	11,568	$	3,484	$	3,838	$	5,482	$	38,299
750-799	15,677		41,037		39,113		13,025		8,415		11,934		129,201
700-749	6,481		18,630		20,161		5,243		3,689		4,460		58,664
650-699	2,524		5,108		6,073		1,706		936		1,157		17,504
600-649	713		724		1,573		394		308		429		4,141
550-599	90		304		973		71		249		383		2,070
500-549	—		880		326		153		136		154		1,649
Under 500	—		108		106		34		70		6		324
Unknown	—		—		—		—		—		—		—
Total	$	28,653	$	77,550	$	79,893	$	24,110	$	17,641	$	24,005	$	251,852
Accrued interest excluded from total	$	112	$	201	$	189	$	56	$	44	$	53	$	655
Current period gross charge-offs	$	28	$	122	$	192	$	32	$	81	$	11	$	466

Other
800 and above	$	1,599	$	1,673	$	1,633	$	897	$	582	$	756	$	7,140
750-799	11,782		11,017		6,600		3,557		1,622		4,077		38,655
700-749	16,717		6,564		5,013		2,268		1,047		3,361		34,970
650-699	12,483		2,997		1,494		627		266		1,390		19,257
600-649	515		605		395		138		107		410		2,170
550-599	49		329		294		35		53		176		936
500-549	98		260		246		43		31		72		750
Under 500	—		97		65		14		57		38		271
Unknown	649		—		—		—		—		—		649
Total	$	43,892	$	23,542	$	15,740	$	7,579	$	3,765	$	10,280	$	104,798
Accrued interest excluded from total	$	101	$	62	$	34	$	17	$	10	$	67	$	291
Current period gross charge-offs	$	1,677	$	104	$	44	$	17	$	12	$	147	$	2,001

Total installment
800 and above	$	10,877	$	20,582	$	21,451	$	7,993	$	8,481	$	13,903	$	83,287
750-799	61,633		87,975		75,378		32,911		23,210		37,443		318,550
700-749	38,791		40,236		37,033		11,992		9,493		15,100		152,645
650-699	18,659		11,134		11,844		3,878		2,439		5,389		53,343
600-649	1,509		1,761		2,776		800		586		1,459		8,891
550-599	224		977		1,496		245		410		894		4,246
500-549	98		1,292		779		293		167		424		3,053
Under 500	—		205		171		48		127		83		634
Unknown	649		—		—		—		—		—		649
Total	$	132,440	$	164,162	$	150,928	$	58,160	$	44,913	$	74,695	$	625,298
Accrued interest excluded from total	$	429	$	417	$	355	$	136	$	112	$	211	$	1,660
Current period gross charge-offs	$	1,705	$	279	$	236	$	49	$	108	$	211	$	2,588

(1)Credit scores have been updated within the last twelve months.

Foreclosed residential real estate properties included in other real estate and repossessed assets on our Condensed Consolidated Statements of Financial Condition totaled $1.0 million and $0.6 million at March 31, 2024 and December 31, 2023, respectively. Retail mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process according to local requirements totaled $0.1 million and $0.6 million at March 31, 2024 and December 31, 2023, respectively.

During the three month period ended March 31, 2024, we sold $6.8 million of portfolio residential fixed rate mortgage loans servicing retained and recognized a gain on sale of $0.11 million. During the same three month period of 2023, we sold $41.2 million of portfolio residential mortgage loans servicing retained and recognized a loss on sale of $0.16 million. These transactions were done primarily for asset/liability management purposes.

Shareholders' Equity and Earnings Per Common Share - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 19, 2023
Share-Based Payment Arrangement, Option
Class of Stock [Line Items]
Antidilutive shares excluded from computation of diluted loss per share (in shares)	0	0
Common Stock
Class of Stock [Line Items]
Number of shares authorized for repurchase (in shares)			1,100,000
Repurchases of common stock (in shares)	0	0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483014/272-10-45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482987/272-10-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
-Publisher FASB
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

+ Details

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Share Based Compensation - Options Exercised During the Periods (Details) - Share-Based Payment Arrangement, Option - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Additional General Disclosures [Abstract]
Intrinsic value	$ 91	$ 223
Cash proceeds received	0	100
Tax benefit realized	$ 19	$ 47

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	$ 7,575	$ 7,565
Bank owned life insurance income	181	111
Other	985	1,115
Total	2,718	2,729
Service Charges on Deposit Accounts
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	2,872	2,857
Overdraft fees \| Retail
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	2,189	2,261
Overdraft fees \| Business
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	110	129
Account service charges \| Retail
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	573	467
Other Deposit Related Income
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	748	676
ATM fees \| Retail
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	383	329
ATM fees \| Business
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	11	9
Other \| Retail
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	250	247
Other \| Business
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	104	91
Interchange income
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	3,151	3,205
Investment and Insurance Commissions
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	804	827
Asset management revenue
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	493	442
Transaction based revenue
Disaggregation of Revenue [Abstract]
Revenue from contracts with customers	$ 311	$ 385

Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Disaggregation of our revenue sources by attribute follows:



	Service Charges on Deposit Accounts		Other Deposit Related Income		Interchange Income		Investment and Insurance Commissions		Total
Three months ending March 31, 2024	(In thousands)
Retail
Overdraft fees	$	2,189	$	—	$	—	$	—	$	2,189
Account service charges	573		—		—		—		573
ATM fees	—		383		—		—		383
Other	—		250		—		—		250
Business
Overdraft fees	110		—		—		—		110
ATM fees	—		11		—		—		11
Other	—		104		—		—		104
Interchange income	—		—		3,151		—		3,151
Asset management revenue	—		—		—		493		493
Transaction based revenue	—		—		—		311		311

Total	$	2,872	$	748	$	3,151	$	804	$	7,575

Reconciliation to Condensed Consolidated Statement of Operations:
Non-interest income - other:
Other deposit related income									$	748
Investment and insurance commissions									804
Bank owned life insurance (1)									181
Other (1)									985
Total									$	2,718

(1)Excluded from the scope of ASC Topic 606.



	Service Charges on Deposit Accounts		Other Deposit Related Income		Interchange Income		Investment and Insurance Commissions		Total
Three months ending March 31, 2023	(In thousands)
Retail
Overdraft fees	$	2,261	$	—	$	—	$	—	$	2,261
Account service charges	467		—		—		—		467
ATM fees	—		329		—		—		329
Other	—		247		—		—		247
Business
Overdraft fees	129		—		—		—		129
ATM fees	—		9		—		—		9
Other	—		91		—		—		91
Interchange income	—		—		3,205		—		3,205
Asset management revenue	—		—		—		442		442
Transaction based revenue	—		—		—		385		385

Total	$	2,857	$	676	$	3,205	$	827	$	7,565

Reconciliation to Condensed Consolidated Statement of Operations:
Non-interest income - other:
Other deposit related income									$	676
Investment and insurance commissions									827
Bank owned life insurance (1)									111
Other (1)									1,115
Total									$	2,729

(1)Excluded from the scope of ASC Topic 606.

Securities - Amortized Cost and Fair Value Securities Available for Sale and Held to Maturity Contractual Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Debt securities, available-for-sale, amortized cost, maturing within one year	$ 4,614
Debt securities, available-for-sale, amortized cost, maturing after one year but within five years	158,488
Debt securities, available-for-sale, amortized cost, maturing after five years but within ten years	53,274
Debt securities, available-for-sale, amortized cost, maturing after ten years	201,833
Total securities available-for-sale, amortized cost	418,209
Debt securities, available-for-sale, U.S. agency residential mortgage-backed, without single maturity date, amortized cost basis	88,010
Debt securities, available-for-sale, government agency, commercial mortgage backed, without single maturity date, amortized cost basis	13,464
Debt securities, available-for-sale, private label mortgage backed, without single maturity date, amortized cost basis	90,761
Debt securities, available-for-sale, other asset backed, without single maturity date, amortized cost basis	66,083
Total securities available-for-sale, amortized cost	676,527	$ 744,050
Debt Securities, Available-for-Sale, Fair Value, Fiscal Year Maturity [Abstract]
Debt securities, available-for-sale, fair value, maturing within one year	4,547
Debt securities, available-for-sale, fair value, maturing after one year but within five years	145,407
Debt securities, available-for-sale, fair value, maturing after five years but within ten years	46,945
Debt securities, available-for-sale, fair value, maturing after ten years	176,568
Total securities available-for-sale, fair value	373,467
Debt securities, available-for-sale, U.S. agency residential mortgage-backed, without single maturity date, fair value	78,495
Debt securities, available-for-sale, government agency commercial mortgage backed, without single maturity date, fair value	12,055
Debt securities, available-for-sale, private label mortgage-backed, without single maturity date, fair value	84,770
Debt securities, available-for-sale, other asset backed, without single maturity date, fair value	64,833
Total securities available-for-sale, fair value	613,620	679,350
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity [Abstract]
Debt securities, held-to-maturity, amortized cost, maturing within one year	4,580
Debt securities, held-to-maturity, amortized cost, maturing after five years but within ten years	56,080
Debt securities, held-to-maturity, amortized cost, maturing after five years but within ten years	96,684
Debt securities, held-to-maturity, amortized cost, maturing after ten years	82,995
Total securities held-to-maturity, amortized cost	240,339
Debt securities, held-to-maturity, U.S. agency residential mortgage-backed, without single maturity date, amortized cost	116,600
Debt securities, held-to-maturity, U.S. agency commercial mortgage-backed, without single maturity date, amortized cost	4,265
Debt securities, held-to-maturity, private label mortgage-backed, without single maturity date, amortized cost	7,591
Debt securities, held-to-maturity, other asset backed, without single maturity date, amortized cost	0
Total securities held-to-maturity, amortized cost	368,795	373,648
Debt Securities, Held-to-Maturity, Fair Value, Maturity [Abstract]
Debt securities, held-to-maturity, fair value, maturing within one year	4,571
Debt securities, held-to-maturity, fair value, maturing after one year but within five years	51,390
Debt securities, held-to-maturity, fair value, maturing after five years but within ten years	82,065
Debt securities, held-to-maturity, fair value, maturing after ten years	70,830
Total securities held-to-maturity, fair value	208,856
Debt securities, held-to-maturity, U.S. agency residential mortgage-backed, without single maturity date, fair value	91,553
Debt securities, held-to-maturity, U.S. agency commercial mortgage-backed, without single maturity date, fair value	3,817
Debt securities, held-to-maturity, private label mortgage-backed, without single maturity date, fair value	6,787
Debt securities, held-to-maturity, other asset backed, without single maturity date, fair value	0
Total securities held-to-maturity, fair value	$ 311,013	$ 318,606

Loans (Tables)

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Financing Receivable, Current, Allowance for Credit Loss

An analysis of the ACL by portfolio segment for the three months ended March 31, follows:


	Commercial		Mortgage		Installment		Subjective Allocation		Total
	(In thousands)
2024
Balance at beginning of period	$	16,724	$	21,386	$	4,126	$	12,422	$	54,658
Additions (deductions)
Provision for credit losses	2,194		(366)		(127)		170		1,871
Recoveries credited to the allowance	64		82		450		—		596
Loans charged against the allowance	—		(199)		(613)		—		(812)
Balance at end of period	$	18,982	$	20,903	$	3,836	$	12,592	$	56,313

2023
Balance at beginning of period	$	13,817	$	21,633	$	4,290	$	12,695	$	52,435
Additions (deductions)
Provision for credit losses	648		(1,574)		(61)		155		(832)
Recoveries credited to the allowance	28		84		466		—		578
Loans charged against the allowance	(960)		(30)		(641)		—		(1,631)
Balance at end of period	$	13,533	$	20,113	$	4,054	$	12,850	$	50,550

Financing Receivable, Nonaccrual

Loans on non-accrual status and past due more than 90 days (“Non-performing Loans”) follow:


	Non- Accrual with no Allowance for Credit Loss		Non- Accrual with an Allowance for Credit Loss		Total Non- Accrual		90+ and Still Accruing		Total Non- Performing Loans
	(In thousands)
March 31, 2024
Commercial
Commercial and industrial (1)	$	—	$	6	$	6	$	—	$	6
Commercial real estate	—		—		—		—		—
Mortgage
1-4 family owner occupied - jumbo	—		—		—		—		—
1-4 family owner occupied - non-jumbo (2)	1,439		779		2,218		—		2,218
1-4 family non-owner occupied	—		119		119		—		119
1-4 family - 2nd lien	—		444		444		—		444
Resort lending	—		193		193		—		193
Installment
Boat lending	—		187		187		—		187
Recreational vehicle lending	—		387		387		—		387
Other	—		136		136		—		136
Total	$	1,439	$	2,251	$	3,690	$	—	$	3,690

Accrued interest excluded from total	$	—	$	—	$	—	$	—	$	—

December 31, 2023
Commercial
Commercial and industrial (1)	$	—	$	7	$	7	$	—	$	7
Commercial real estate	—		—		—		—		—
Mortgage
1-4 family owner occupied - jumbo	544		—		544		—		544
1-4 family owner occupied - non-jumbo (2)	575		1,655		2,230		432		2,662
1-4 family non-owner occupied	—		282		282		—		282
1-4 family - 2nd lien	—		624		624		—		624
Resort lending	—		143		143		—		143
Installment
Boat lending	—		352		352		—		352
Recreational vehicle lending	—		419		419		—		419
Other	—		199		199		—		199
Total	$	1,119	$	3,681	$	4,800	$	432	$	5,232

Accrued interest excluded from total	$	—	$	—	$	—	$	—	$	—

(1)Non-performing commercial and industrial loans exclude $0.019 million and $0.021 million of government guaranteed loans at March 31, 2024 and December 31, 2023, respectively.

(2)Non-performing 1-4 family owner occupied – non jumbo loans exclude $1.646 million and $2.170 million of government guaranteed loans at March 31, 2024 and December 31, 2023, respectively.

Amortized Cost of Collateral-dependent Loans by Class

The amortized cost of collateral-dependent loans by class follows:


	Collateral Type				Allowance for Credit Losses
	Real Estate		Other
	(In thousands)
March 31, 2024
Commercial
Commercial and industrial	$	659	$	6,175	$	1,796
Commercial real estate	—		—		—
Mortgage
1-4 family owner occupied - jumbo	—		—		—
1-4 family owner occupied - non-jumbo	2,122		—		243
1-4 family non-owner occupied	—		—		—
1-4 family - 2nd lien	131		—		46
Resort lending	193		—		68
Installment
Boat lending	—		116		41
Recreational vehicle lending	—		240		85
Other	—		55		19
Total	$	3,105	$	6,586	$	2,298

Accrued interest excluded from total	$	1	$	43

December 31, 2023
Commercial
Commercial and industrial	$	565	$	232	$	224
Commercial real estate	—		—		—
Mortgage
1-4 family owner occupied - jumbo	544		—		—
1-4 family owner occupied - non-jumbo	2,243		—		504
1-4 family non-owner occupied	211		—		178
1-4 family - 2nd lien	244		—		87
Resort lending	143		—		51
Installment
Boat lending	—		297		105
Recreational vehicle lending	—		303		107
Other	—		102		36
Total	$	3,950	$	934	$	1,292

Accrued interest excluded from total	$	1	$	—

Aging Analysis of Loans by Class

An aging analysis of loans by class follows:


	Loans Past Due								Loans not Past Due		Total Loans
	30-59 days		60-89 days		90+ days		Total
	(In thousands)
March 31, 2024
Commercial
Commercial and industrial	$	—	$	—	$	25	$	25	$	865,252	$	865,277
Commercial real estate	2,115		—		—		2,115		867,892		870,007
Mortgage
1-4 family owner occupied - jumbo	670		—		—		670		860,106		860,776
1-4 family owner occupied - non-jumbo	2,613		1,039		663		4,315		301,015		305,330
1-4 family non-owner occupied	165		—		—		165		172,934		173,099
1-4 family - 2nd lien	811		113		93		1,017		116,385		117,402
Resort lending	—		—		193		193		33,641		33,834
Installment
Boat lending	77		66		116		259		267,346		267,605
Recreational vehicle lending	658		250		187		1,095		244,802		245,897
Other	239		95		42		376		100,362		100,738
Total	$	7,348	$	1,563	$	1,319	$	10,230	$	3,829,735	$	3,839,965

Accrued interest excluded from total	$	70	$	14	$	—	$	84	$	12,958	$	13,042

December 31, 2023
Commercial
Commercial and industrial	$	—	$	—	$	28	$	28	$	810,117	$	810,145
Commercial real estate	—		—		—		—		869,586		869,586
Mortgage
1-4 family owner occupied - jumbo	—		—		544		544		858,692		859,236
1-4 family owner occupied - non-jumbo	1,763		742		1,431		3,936		297,236		301,172
1-4 family non-owner occupied	215		64		158		437		173,379		173,816
1-4 family - 2nd lien	241		139		215		595		115,437		116,032
Resort lending	—		50		143		193		35,423		35,616
Installment
Boat lending	320		16		261		597		268,051		268,648
Recreational vehicle lending	414		35		280		729		251,123		251,852
Other	313		86		54		453		104,345		104,798
Total	$	3,266	$	1,132	$	3,114	$	7,512	$	3,783,389	$	3,790,901
Accrued interest excluded from total	$	31	$	17	$	—	$	48	$	12,452	$	12,500

Loan Ratings by Loan Class

The following tables summarize loan ratings by loan class for our commercial portfolio loan segment at March 31, 2024 and December 31, 2023:


	Commercial
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2024		2023		2022		2021		2020		Prior
	(In thousands)
March 31, 2024
Commercial and industrial
Non-watch (1-6)	$	42,708	$	130,170	$	146,630	$	76,745	$	89,907	$	119,738	$	228,570	$	834,468
Watch (7-8)	—		2,380		5,406		2,589		3,285		5,974		4,342		23,976
Substandard Accrual (9)	—		—		—		834		311		—		5,663		6,808
Non-Accrual (10-11)	—		—		—		—		—		25		—		25
Total	$	42,708	$	132,550	$	152,036	$	80,168	$	93,503	$	125,737	$	238,575	$	865,277
Accrued interest excluded from total	$	159	$	378	$	433	$	187	$	438	$	392	$	1,212	$	3,199
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate
Non-watch (1-6)	$	20,840	$	224,288	$	179,805	$	120,384	$	54,477	$	200,198	$	61,444	$	861,436
Watch (7-8)	—		—		—		142		—		8,429		—		8,571
Substandard Accrual (9)	—		—		—		—		—		—		—		—
Non-Accrual (10-11)	—		—		—		—		—		—		—		—
Total	$	20,840	$	224,288	$	179,805	$	120,526	$	54,477	$	208,627	$	61,444	$	870,007
Accrued interest excluded from total	$	78	$	562	$	730	$	355	$	156	$	786	$	284	$	2,951
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total Commercial
Non-watch (1-6)	$	63,548	$	354,458	$	326,435	$	197,129	$	144,384	$	319,936	$	290,014	$	1,695,904
Watch (7-8)	—		2,380		5,406		2,731		3,285		14,403		4,342		32,547
Substandard Accrual (9)	—		—		—		834		311		—		5,663		6,808
Non-Accrual (10-11)	—		—		—		—		—		25		—		25
Total	$	63,548	$	356,838	$	331,841	$	200,694	$	147,980	$	334,364	$	300,019	$	1,735,284
Accrued interest excluded from total	$	237	$	940	$	1,163	$	542	$	594	$	1,178	$	1,496	$	6,150
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
December 31, 2023
Commercial and industrial
Non-watch (1-6)	$	110,472	$	152,715	$	70,081	$	47,644	$	42,576	$	97,960	$	260,634	$	782,082
Watch (7-8)	96		5,239		964		2,580		4,173		2,277		11,938		27,267
Substandard Accrual (9)	—		—		547		—		21		4		196		768
Non-Accrual (10-11)	—		—		—		—		—		28		—		28
Total	$	110,568	$	157,954	$	71,592	$	50,224	$	46,770	$	100,269	$	272,768	$	810,145
Accrued interest excluded from total	$	239	$	438	$	132	$	128	$	120	$	326	$	1,327	$	2,710
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	69	$	25	$	94

Commercial real estate
Non-watch (1-6)	$	202,576	$	169,230	$	131,428	$	29,684	$	78,706	$	176,265	$	73,852	$	861,741
Watch (7-8)	—		—		—		—		2,322		5,523		—		7,845
Substandard Accrual (9)	—		—		—		—		—		—		—		—
Non-Accrual (10-11)	—		—		—		—		—		—		—		—
Total	$	202,576	$	169,230	$	131,428	$	29,684	$	81,028	$	181,788	$	73,852	$	869,586
Accrued interest excluded from total	$	548	$	685	$	431	$	73	$	347	$	661	$	288	$	3,033
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	960	$	—	$	—	$	960

Total Commercial
Non-watch (1-6)	$	313,048	$	321,945	$	201,509	$	77,328	$	121,282	$	274,225	$	334,486	$	1,643,823
Watch (7-8)	96		5,239		964		2,580		6,495		7,800		11,938		35,112
Substandard Accrual (9)	—		—		547		—		21		4		196		768
Non-Accrual (10-11)	—		—		—		—		—		28		—		28
Total	$	313,144	$	327,184	$	203,020	$	79,908	$	127,798	$	282,057	$	346,620	$	1,679,731
Accrued interest excluded from total	$	787	$	1,123	$	563	$	201	$	467	$	987	$	1,615	$	5,743
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	960	$	69	$	25	$	1,054

The following tables summarize credit scores by loan class for our mortgage and installment loan portfolio segments at March 31, 2024 and December 31, 2023:


	Mortgage (1)
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2024		2023		2022		2021		2020		Prior
	(In thousands)
March 31, 2024
1-4 family owner occupied - jumbo
800 and above	$	—	$	6,391	$	30,065	$	62,291	$	17,539	$	13,209	$	599	$	130,094
750-799	4,790		45,043		120,167		191,794		61,545		38,406		2,369		464,114
700-749	3,253		14,060		51,988		66,116		24,304		15,851		1,500		177,072
650-699	—		8,802		13,420		24,509		12,867		7,077		505		67,180
600-649	—		1,637		8,464		1,946		502		5,757		—		18,306
550-599	—		—		—		523		1,900		—		—		2,423
500-549	—		—		—		—		917		670		—		1,587
Under 500	—		—		—		—		—		—		—		—
Unknown	—		—		—		—		—		—		—		—
Total	$	8,043	$	75,933	$	224,104	$	347,179	$	119,574	$	80,970	$	4,973	$	860,776
Accrued interest excluded from total	$	31	$	334	$	692	$	799	$	300	$	275	$	34	$	2,465
Current period gross charge-offs	$	—	$	—	$	22	$	—	$	—	$	—	$	—	$	22

1-4 family owner occupied - non-jumbo
800 and above	$	1,464	$	2,437	$	9,867	$	8,070	$	5,381	$	11,442	$	3,228	$	41,889
750-799	952		15,202		31,512		21,596		11,516		25,557		8,408		114,743
700-749	3,924		13,565		17,556		11,759		7,731		22,753		4,915		82,203
650-699	7,549		1,898		5,018		4,543		2,507		14,352		1,103		36,970
600-649	—		205		964		1,686		828		7,374		91		11,148
550-599	—		188		661		70		1,691		5,784		65		8,459
500-549	—		—		—		1,244		993		4,443		—		6,680
Under 500	—		—		311		464		280		2,183		—		3,238
Unknown	—		—		—		—		—		—		—		—
Total	$	13,889	$	33,495	$	65,889	$	49,432	$	30,927	$	93,888	$	17,810	$	305,330
Accrued interest excluded from total	$	21	$	181	$	214	$	128	$	82	$	374	$	146	$	1,146
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

1-4 family non-owner occupied
800 and above	$	265	$	3,140	$	6,067	$	12,145	$	3,341	$	9,035	$	631	$	34,624
750-799	3,056		9,949		16,864		26,806		11,432		19,297		3,443		90,847
700-749	626		3,885		6,802		8,780		4,191		7,248		1,729		33,261
650-699	—		216		1,961		1,823		2,028		3,453		210		9,691
600-649	—		—		386		1,437		—		1,333		311		3,467
550-599	—		—		61		52		—		821		—		934
500-549	—		—		—		—		—		140		—		140
Under 500	—		—		—		—		—		135		—		135
Unknown	—		—		—		—		—		—		—		—
Total	$	3,947	$	17,190	$	32,141	$	51,043	$	20,992	$	41,462	$	6,324	$	173,099
Accrued interest excluded from total	$	13	$	82	$	123	$	149	$	58	$	179	$	51	$	655
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	155	$	—	$	155


	Mortgage - continued (1)
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2024		2023		2022		2021		2020		Prior
	(In thousands)
March 31, 2024 - continued
1-4 family - 2nd lien
800 and above	$	—	$	476	$	153	$	697	$	784	$	706	$	9,502	$	12,318
750-799	276		2,202		3,620		2,536		2,509		3,749		38,095		52,987
700-749	537		1,836		1,493		1,636		726		2,574		25,106		33,908
650-699	—		641		591		221		533		2,246		8,813		13,045
600-649	32		51		141		137		146		631		1,717		2,855
550-599	—		—		80		202		39		441		524		1,286
500-549	—		—		—		11		—		525		280		816
Under 500	—		—		18		—		—		169		—		187
Unknown	—		—		—		—		—		—		—		—
Total	$	845	$	5,206	$	6,096	$	5,440	$	4,737	$	11,041	$	84,037	$	117,402
Accrued interest excluded from total	$	4	$	20	$	24	$	13	$	16	$	51	$	669	$	797
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	22	$	22

Resort lending
800 and above	$	—	$	—	$	—	$	98	$	—	$	5,467	$	—	$	5,565
750-799	—		41		814		903		850		12,363		—		14,971
700-749	—		—		107		300		111		4,989		—		5,507
650-699	—		—		—		—		314		6,136		—		6,450
600-649	—		—		—		—		48		834		—		882
550-599	—		—		—		—		—		265		—		265
500-549	—		—		—		—		—		58		—		58
Under 500	—		—		—		—		—		136		—		136
Unknown	—		—		—		—		—		—		—		—
Total	$	—	$	41	$	921	$	1,301	$	1,323	$	30,248	$	—	$	33,834
Accrued interest excluded from total	$	—	$	—	$	4	$	4	$	4	$	147	$	—	$	159
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total Mortgage
800 and above	$	1,729	$	12,444	$	46,152	$	83,301	$	27,045	$	39,859	$	13,960	$	224,490
750-799	9,074		72,437		172,977		243,635		87,852		99,372		52,315		737,662
700-749	8,340		33,346		77,946		88,591		37,063		53,415		33,250		331,951
650-699	7,549		11,557		20,990		31,096		18,249		33,264		10,631		133,336
600-649	32		1,893		9,955		5,206		1,524		15,929		2,119		36,658
550-599	—		188		802		847		3,630		7,311		589		13,367
500-549	—		—		—		1,255		1,910		5,836		280		9,281
Under 500	—		—		329		464		280		2,623		—		3,696
Unknown	—		—		—		—		—		—		—		—
Total	$	26,724	$	131,865	$	329,151	$	454,395	$	177,553	$	257,609	$	113,144	$	1,490,441
Accrued interest excluded from total	$	69	$	617	$	1,057	$	1,093	$	460	$	1,026	$	900	$	5,222
Current period gross charge-offs	$	—	$	—	$	22	$	—	$	—	$	155	$	22	$	199


	Mortgage (1)
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
December 31, 2023
1-4 family owner occupied - jumbo
800 and above	$	6,299	$	30,789	$	63,377	$	17,672	$	4,503	$	8,813	$	1,084	$	132,537
750-799	42,726		117,454		193,587		61,986		24,288		14,836		1,586		456,463
700-749	14,965		51,991		66,597		25,170		4,738		11,768		1,500		176,729
650-699	11,274		13,804		24,648		12,949		2,142		5,881		—		70,698
600-649	1,638		7,815		2,486		505		3,198		2,592		—		18,234
550-599	—		—		527		1,908		—		—		—		2,435
500-549	—		544		—		923		—		673		—		2,140
Under 500	—		—		—		—		—		—		—		—
Unknown	—		—		—		—		—		—		—		—
Total	$	76,902	$	222,397	$	351,222	$	121,113	$	38,869	$	44,563	$	4,170	$	859,236
Accrued interest excluded from total	$	329	$	669	$	785	$	299	$	107	$	156	$	30	$	2,375
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

1-4 family owner occupied - non-jumbo
800 and above	$	2,280	$	10,083	$	7,780	$	5,425	$	2,802	$	9,130	$	3,029	$	40,529
750-799	13,233		32,729		21,664		12,306		5,954		19,852		8,462		114,200
700-749	11,696		18,133		11,661		8,136		3,280		20,042		4,482		77,430
650-699	9,576		5,717		4,606		2,524		2,393		12,369		1,500		38,685
600-649	136		1,334		1,694		833		1,096		6,415		84		11,592
550-599	188		624		71		1,705		557		5,390		65		8,600
500-549	—		—		1,335		998		413		4,077		—		6,823
Under 500	—		311		462		272		518		1,750		—		3,313
Unknown	—		—		—		—		—		—		—		—
Total	$	37,109	$	68,931	$	49,273	$	32,199	$	17,013	$	79,025	$	17,622	$	301,172
Accrued interest excluded from total	$	153	$	235	$	119	$	78	$	56	$	331	$	139	$	1,111
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	29	$	—	$	29

1-4 family non-owner occupied
800 and above	$	2,320	$	6,026	$	12,338	$	3,474	$	3,048	$	6,030	$	1,199	$	34,435
750-799	10,937		16,635		28,051		11,545		6,709		13,400		3,498		90,775
700-749	3,904		7,013		8,825		4,145		667		6,719		2,095		33,368
650-699	216		1,879		1,844		2,543		197		3,521		277		10,477
600-649	—		388		1,445		—		75		1,226		362		3,496
550-599	—		61		52		—		—		873		—		986
500-549	—		—		—		—		—		142		—		142
Under 500	—		—		—		—		—		137		—		137
Unknown	—		—		—		—		—		—		—		—
Total	$	17,377	$	32,002	$	52,555	$	21,707	$	10,696	$	32,048	$	7,431	$	173,816
Accrued interest excluded from total	$	77	$	125	$	149	$	60	$	35	$	146	$	62	$	654
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


	Mortgage - continued (1)
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans Amortized Cost Basis		Total
	2023		2022		2021		2020		2019		Prior
	(In thousands)
December 31, 2023 - (continued)
1-4 family - 2nd lien
800 and above	$	537	$	156	$	703	$	389	$	159	$	1,153	$	9,817	$	12,914
750-799	2,260		2,879		2,359		2,341		898		3,084		38,277		52,098
700-749	1,895		1,243		1,464		324		224		2,348		25,849		33,347
650-699	425		285		182		519		302		1,869		8,945		12,527
600-649	51		107		97		67		37		563		1,886		2,808
550-599	—		80		203		—		157		238		638		1,316
500-549	—		—		12		—		—		487		331		830
Under 500	—		19		—		—		77		61		35		192
Unknown	—		—		—		—		—		—		—		—
Total	$	5,168	$	4,769	$	5,020	$	3,640	$	1,854	$	9,803	$	85,778	$	116,032
Accrued interest excluded from total	$	19	$	14	$	10	$	7	$	6	$	41	$	707	$	804
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	5	$	—	$	5

Resort lending
800 and above	$	—	$	—	$	99	$	—	$	—	$	5,643	$	—	$	5,742
750-799	41		817		910		858		179		12,649		—		15,454
700-749	—		108		871		111		—		5,439		—		6,529
650-699	—		—		—		316		—		6,219		—		6,535
600-649	—		—		—		49		—		844		—		893
550-599	—		—		—		—		—		267		—		267
500-549	—		—		—		—		—		59		—		59
Under 500	—		—		—		—		—		137		—		137
Unknown	—		—		—		—		—		—		—		—
Total	$	41	$	925	$	1,880	$	1,334	$	179	$	31,257	$	—	$	35,616
Accrued interest excluded from total	$	—	$	4	$	3	$	4	$	—	$	142	$	—	$	153
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	120	$	—	$	120

Total Mortgage
800 and above	$	11,436	$	47,054	$	84,297	$	26,960	$	10,512	$	30,769	$	15,129	$	226,157
750-799	69,197		170,514		246,571		89,036		38,028		63,821		51,823		728,990
700-749	32,460		78,488		89,418		37,886		8,909		46,316		33,926		327,403
650-699	21,491		21,685		31,280		18,851		5,034		29,859		10,722		138,922
600-649	1,825		9,644		5,722		1,454		4,406		11,640		2,332		37,023
550-599	188		765		853		3,613		714		6,768		703		13,604
500-549	—		544		1,347		1,921		413		5,438		331		9,994
Under 500	—		330		462		272		595		2,085		35		3,779
Unknown	—		—		—		—		—		—		—		—
Total	$	136,597	$	329,024	$	459,950	$	179,993	$	68,611	$	196,696	$	115,001	$	1,485,872
Accrued interest excluded from total	$	578	$	1,047	$	1,066	$	448	$	204	$	816	$	938	$	5,097
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	154	$	—	$	154

(1)Credit scores have been updated within the last twelve months.


	Installment (1)
	Term Loans Amortized Cost Basis by Origination Year
	2024		2023		2022		2021		2020		Prior		Total
	(In thousands)
March 31, 2024
Boat lending
800 and above	$	1,393	$	5,830	$	7,969	$	8,052	$	3,424	$	11,105	$	37,773
750-799	6,199		32,477		34,702		28,306		15,499		32,620		149,803
700-749	2,490		14,910		14,676		11,589		4,334		11,499		59,498
650-699	582		3,566		2,783		4,157		1,513		3,878		16,479
600-649	—		279		424		533		262		762		2,260
550-599	—		85		305		225		136		376		1,127
500-549	—		—		151		203		96		178		628
Under 500	—		—		—		—		—		37		37
Unknown	—		—		—		—		—		—		—
Total	$	10,664	$	57,147	$	61,010	$	53,065	$	25,264	$	60,455	$	267,605
Accrued interest excluded from total	$	46	$	208	$	148	$	124	$	60	$	141	$	727
Current period gross charge-offs	$	—	$	—	$	31	$	8	$	—	$	49	$	88

Recreational vehicle lending
800 and above	$	522	$	2,883	$	10,034	$	11,068	$	3,272	$	8,732	$	36,511
750-799	2,891		14,566		39,695		37,766		12,142		18,878		125,938
700-749	1,690		6,346		18,112		19,564		5,054		7,718		58,484
650-699	200		2,447		4,990		5,934		1,636		1,952		17,159
600-649	61		699		689		1,545		386		675		4,055
550-599	—		75		300		897		69		494		1,835
500-549	—		—		851		319		149		284		1,603
Under 500	—		—		107		104		33		68		312
Unknown	—		—		—		—		—		—		—
Total	$	5,364	$	27,016	$	74,778	$	77,197	$	22,741	$	38,801	$	245,897
Accrued interest excluded from total	$	20	$	108	$	198	$	184	$	53	$	88	$	651
Current period gross charge-offs	$	—	$	18	$	33	$	21	$	—	$	2	$	74

Other
800 and above	$	427	$	1,430	$	1,527	$	1,453	$	783	$	1,148	$	6,768
750-799	2,590		10,898		10,151		6,121		3,168		5,271		38,199
700-749	9,882		7,064		5,968		4,543		2,017		3,960		33,434
650-699	9,357		2,521		2,667		1,357		568		1,534		18,004
600-649	72		493		549		358		126		462		2,060
550-599	54		32		278		230		30		189		813
500-549	—		95		241		216		38		77		667
Under 500	—		—		87		47		11		91		236
Unknown	557		—		—		—		—		—		557
Total	$	22,939	$	22,533	$	21,468	$	14,325	$	6,741	$	12,732	$	100,738
Accrued interest excluded from total	$	26	$	92	$	56	$	32	$	16	$	70	$	292
Current period gross charge-offs	$	358	$	16	$	51	$	—	$	2	$	24	$	451


	Installment (1)
	Term Loans Amortized Cost Basis by Origination Year
	2024		2023		2022		2021		2020		Prior		Total
	(In thousands)
March 31, 2024 - continued
Total installment
800 and above	$	2,342	$	10,143	$	19,530	$	20,573	$	7,479	$	20,985	$	81,052
750-799	11,680		57,941		84,548		72,193		30,809		56,769		313,940
700-749	14,062		28,320		38,756		35,696		11,405		23,177		151,416
650-699	10,139		8,534		10,440		11,448		3,717		7,364		51,642
600-649	133		1,471		1,662		2,436		774		1,899		8,375
550-599	54		192		883		1,352		235		1,059		3,775
500-549	—		95		1,243		738		283		539		2,898
Under 500	—		—		194		151		44		196		585
Unknown	557		—		—		—		—		—		557
Total	$	38,967	$	106,696	$	157,256	$	144,587	$	54,746	$	111,988	$	614,240
Accrued interest excluded from total	$	92	$	408	$	402	$	340	$	129	$	299	$	1,670
Current period gross charge-offs	$	358	$	34	$	115	$	29	$	2	$	75	$	613


	Installment - continued (1)
	Term Loans Amortized Cost Basis by Origination Year
	2023		2022		2021		2020		2019		Prior		Total
	(In thousands)
December 31, 2023
Boat lending
800 and above	$	6,110	$	8,150	$	8,250	$	3,612	$	4,061	$	7,665	$	37,848
750-799	34,174		35,921		29,665		16,329		13,173		21,432		150,694
700-749	15,593		15,042		11,859		4,481		4,757		7,279		59,011
650-699	3,652		3,029		4,277		1,545		1,237		2,842		16,582
600-649	281		432		808		268		171		620		2,580
550-599	85		344		229		139		108		335		1,240
500-549	—		152		207		97		—		198		654
Under 500	—		—		—		—		—		39		39
Unknown	—		—		—		—		—		—		—
Total	$	59,895	$	63,070	$	55,295	$	26,471	$	23,507	$	40,410	$	268,648
Accrued interest excluded from total	$	216	$	154	$	132	$	63	$	58	$	91	$	714
Current period gross charge-offs	$	—	$	53	$	—	$	—	$	15	$	53	$	121

Recreational vehicle lending
800 and above	$	3,168	$	10,759	$	11,568	$	3,484	$	3,838	$	5,482	$	38,299
750-799	15,677		41,037		39,113		13,025		8,415		11,934		129,201
700-749	6,481		18,630		20,161		5,243		3,689		4,460		58,664
650-699	2,524		5,108		6,073		1,706		936		1,157		17,504
600-649	713		724		1,573		394		308		429		4,141
550-599	90		304		973		71		249		383		2,070
500-549	—		880		326		153		136		154		1,649
Under 500	—		108		106		34		70		6		324
Unknown	—		—		—		—		—		—		—
Total	$	28,653	$	77,550	$	79,893	$	24,110	$	17,641	$	24,005	$	251,852
Accrued interest excluded from total	$	112	$	201	$	189	$	56	$	44	$	53	$	655
Current period gross charge-offs	$	28	$	122	$	192	$	32	$	81	$	11	$	466

Other
800 and above	$	1,599	$	1,673	$	1,633	$	897	$	582	$	756	$	7,140
750-799	11,782		11,017		6,600		3,557		1,622		4,077		38,655
700-749	16,717		6,564		5,013		2,268		1,047		3,361		34,970
650-699	12,483		2,997		1,494		627		266		1,390		19,257
600-649	515		605		395		138		107		410		2,170
550-599	49		329		294		35		53		176		936
500-549	98		260		246		43		31		72		750
Under 500	—		97		65		14		57		38		271
Unknown	649		—		—		—		—		—		649
Total	$	43,892	$	23,542	$	15,740	$	7,579	$	3,765	$	10,280	$	104,798
Accrued interest excluded from total	$	101	$	62	$	34	$	17	$	10	$	67	$	291
Current period gross charge-offs	$	1,677	$	104	$	44	$	17	$	12	$	147	$	2,001

Total installment
800 and above	$	10,877	$	20,582	$	21,451	$	7,993	$	8,481	$	13,903	$	83,287
750-799	61,633		87,975		75,378		32,911		23,210		37,443		318,550
700-749	38,791		40,236		37,033		11,992		9,493		15,100		152,645
650-699	18,659		11,134		11,844		3,878		2,439		5,389		53,343
600-649	1,509		1,761		2,776		800		586		1,459		8,891
550-599	224		977		1,496		245		410		894		4,246
500-549	98		1,292		779		293		167		424		3,053
Under 500	—		205		171		48		127		83		634
Unknown	649		—		—		—		—		—		649
Total	$	132,440	$	164,162	$	150,928	$	58,160	$	44,913	$	74,695	$	625,298
Accrued interest excluded from total	$	429	$	417	$	355	$	136	$	112	$	211	$	1,660
Current period gross charge-offs	$	1,705	$	279	$	236	$	49	$	108	$	211	$	2,588

(1)Credit scores have been updated within the last twelve months.

Leases

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

We have entered into leases in the normal course of business primarily for office facilities, some of which include renewal options and escalation clauses. Certain leases also include both lease components (fixed payments including rent, taxes and insurance costs) and non-lease components (common area or other maintenance costs) which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components together for all leases. We have also elected not to recognize leases with original lease terms of 12 months or less (short-term leases) on our Condensed Consolidated Statements of Financial Condition. Most of our leases include one or more options to renew. The exercise of lease renewal options is typically at our sole discretion and are included in our right of use (“ROU”) assets and lease liabilities if they are reasonably certain of exercise.

Leases are classified as operating or finance leases at the lease commencement date (we did not have any finance leases as of March 31, 2024). Lease expense for operating leases and short-term leases is recognized on a straight-line basis over the lease term. The ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of the lease payment over the lease term.

As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments.

The cost components of our operating leases follows:


	Three Months Ended March 31,
		2024		2023
	(In thousands)
Operating lease cost		$	346	$	362
Variable lease cost		11		24
Short-term lease cost		24		22
Total		$	381	$	408

Variable lease costs consist primarily of taxes, insurance, and common area or other maintenance costs for our leased facilities.

Supplemental balance sheet information related to our operating leases follows:


	March 31, 2024			December 31, 2023
	(Dollars in thousands)
Lease right of use asset (1)	$	6,744		$	4,911
Lease liabilities (2)	$	6,953		$	5,114

Weighted average remaining lease term (years)	7.63			6.03
Weighted average discount rate	3.6		%	2.7		%

(1)Included in Accrued income and other assets in our Condensed Consolidated Statements of Financial Condition.

(2)Included in Accrued expenses and other liabilities in our Condensed Consolidated Statements of Financial Condition.

Maturity analysis of our lease liabilities at March 31, 2024 based on required contractual payments follows:


	(In thousands)

Nine months ending December 31, 2024	$	1,001
2025	1,288
2026	1,122
2027	939
2028	916
2029 and thereafter	2,861
Total lease payments	8,127
Less imputed interest	(1,174)
Total	$	6,953

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Pressures from various global and national macroeconomic conditions, including heightened inflation, uncertainty regarding future interest rates, foreign currency exchange rate fluctuations, recent adverse weather conditions, escalating tensions in the Middle East, the continuation of the Russia-Ukraine war, and potential governmental responses to these events, continue to create significant economic uncertainty. The extent to which these pressures may impact our business, results of operations, asset valuations, financial condition, and customers will depend on future developments, which continue to be highly uncertain and difficult to predict. Material adverse impacts may include all or a combination of valuation impairments on our intangible assets, securities available for sale, securities held to maturity, loans, capitalized mortgage loan servicing rights or deferred tax assets. We continue to closely monitor and analyze the higher risk segments within our portfolio, and senior management is cautiously optimistic that we are positioned to continue managing the impact of the varied set of risks and uncertainties currently impacting the global and U.S. economies. However, a high degree of uncertainty still exists with respect to the impact of these fluid macroeconomic conditions on the future performance of our loan portfolio and our financial results. Litigation We are involved in various litigation matters in the ordinary course of business. At the present time, we do not believe any of these matters will have a significant impact on our interim condensed consolidated financial position or results of operations. The aggregate amount we have accrued for losses we consider probable as a result of these litigation matters is immaterial. However, because of the inherent uncertainty of outcomes from any litigation matter, we believe it is reasonably possible we may incur losses in addition to the amounts we have accrued. At this time, we estimate the maximum amount of additional losses that are reasonably possible is insignificant. However, because of a number of factors, including the fact that certain of these litigation matters are still in their early stages, this maximum amount may change in the future. The litigation matters described in the preceding paragraph primarily include claims that have been brought against us for damages, but do not include litigation matters where we seek to collect amounts owed to us by third parties (such as litigation initiated to collect delinquent loans). These excluded, collection-related matters may involve claims or counterclaims by the opposing party or parties, but we have excluded such matters from the disclosure contained in the preceding paragraph in all cases where we believe the possibility of us paying damages to any opposing party is remote. Visa Stock We own 12,566 shares of Visa Inc. Class B-1 common stock. At the present time, these shares can only be sold to other Class B shareholders. As a result, there has generally been limited transfer activity in private transactions between buyers and sellers. However, on April 8, 2024, Visa commenced an offer to exchange up to all of its outstanding shares of Class B-1 common stock for Class B-2 common shares and Class C common shares. If the exchange offer is completed, it is expected to result in some degree of liquidity for holders of Class B-1 common shares; however, the exchange offer will not result in complete or immediate liquidity for all of our Class B-1 shares. The Class C shares (which automatically convert to A shares upon a transfer to anyone other than a Visa member or an affiliate of a Visa member) will have temporary transfer restrictions that would be expected to expire 90 days after the exchange offer is completed while the Class B-2 shares are expected to continue to have the same transfer restrictions as the current B-1 shares. Although we have tendered all of our Class B-1 shares in the exchange offer, there is no guarantee our shares will be accepted for exchange or that Visa will not decide to terminate the exchange offer. The exchange offer is currently scheduled to expire May 3, 2024, and subject to Visa’s right to terminate or extend the offer, is expected to close shortly after expiration. Because of the very limited liquidity for our Class B-1 common shares (prior to completion of the exchange offer) and uncertainty regarding the likelihood, ultimate timing and eventual exchange rate for Class B-1 shares into Class A shares, we continued to carry these shares at zero, representing cost basis less impairment. However, given the current conversion ratio of 1.5875 Class A shares for every 1 Class B-1 share and the closing price of Visa Class A shares on April 25, 2024 of $275.16 per share, our 12,566 Class B-1 shares could have a current “value” of approximately $5.5 million. Given the expected liquidity of the Class C shares, if the exchange offer is completed, up to 50% of this value could be recognized in our Condensed Consolidated Financial Statements during 2024. As the Class B-2 shares would continue to have the same restrictions as the Class B-1 shares, the uncertainty regarding the likelihood, ultimate timing and eventual exchange rate for Class B-2 shares into Class A shares, we would expect to continue to carry these shares at zero, representing cost basis less impairment.

Share Based Compensation - Narrative (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of additional shares approved for grant (in shares)	400
Shares issued on deferral basis credited percentage of current value	90.00%
Share-based payment arrangement, nonvested award, cost not yet recognized, amount	$ 4,300
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition	2 years 3 months 18 days
Long-Term Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 500	$ 500
Tax benefit relating to compensation expense recognized	$ 100	$ 100
Restricted stock \| Long-Term Incentive Plan \| Cliff Vest After Three Years
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	3 years	3 years
PSU \| Long-Term Incentive Plan \| Cliff Vest After Three Years
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	3 years	3 years
Performance feature comparison period	3 years	3 years
Non-Employee Directors
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of additional shares approved for grant (in shares)	100
Share-based payment arrangement, expense	$ 70	$ 90
Tax benefit relating to compensation expense recognized	$ 10	$ 20
Director
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares issues as retainer fees (in shares)	2	4

Shareholders' Equity and Earnings Per Common Share

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Shareholders' Equity and Earnings Per Common Share

Shareholders’ Equity and Earnings Per Common Share

On December 19, 2023, our Board of Directors authorized a share repurchase plan (the “Repurchase Plan”) to buy back up to 1,100,000 shares of our outstanding common stock through December 31, 2024. Shares would be repurchased through open market transactions, though we could execute repurchases through other means, such as privately negotiated transactions. The timing and amount of any share repurchases will depend on a variety of factors, including, among others, securities law restrictions, the trading price of our common stock, regulatory requirements, potential alternative uses for capital, and our financial performance. During the three month periods ended March 31, 2024 and 2023 there were no repurchases of common stock.

A reconciliation of basic and diluted net income per common share follows:


	Three Months Ended March 31,
	2024		2023
	(In thousands, except per share data)
Net income	$	15,991	$	12,991

Weighted average shares outstanding (1)	20,877		21,104
Stock units for deferred compensation plan for non-employee directors	175		150
Performance share units	25		22
Effect of stock options	3		21
Weighted average shares outstanding for calculation of diluted earnings per share	21,080		21,297

Net income per common share
Basic (1)	$	0.77	$	0.62
Diluted	$	0.76	$	0.61

(1)Basic net income per common share includes weighted average common shares outstanding during the period and participating share awards.

Weighted average stock options outstanding that were not considered in computing diluted net income per common share because they were anti-dilutive were zero for the three month periods ended March 31, 2024 and 2023, respectively.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Fair Value Disclosures - Reconciliation for all Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - Capitalized Mortgage Loan Servicing Rights - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 42,243	$ 42,489
Total gains (losses) realized and unrealized:
Included in results of operations	506	(1,496)
Included in other comprehensive loss	0	0
Purchases, issuances, settlements, maturities and calls	828	930
Transfers in and/or out of Level 3	0	0
Ending balance	43,577	41,923
Amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at March 31	$ 506	$ (1,496)

Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended
Income Tax (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 3,830	$ 2,884
Effective income tax rate reconciliation, tax expense (benefit), share-based payment arrangement, amount	110	$ 40
Unrecognized tax benefits	$ 200		$ 200

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Fair Value Disclosures - Significant Assumptions (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets [Abstract]
Securities available for sale	$ 613,620	$ 679,350
Loans held for sale, carried at fair value	8,935	12,063
Assets
Loans held for sale, carried at the lower of cost or fair value	8,967	12,124
U.S. agency
Assets [Abstract]
Securities available for sale	8,925	9,507
U.S. agency residential mortgage-backed
Assets [Abstract]
Securities available for sale	78,495	81,217
U.S. agency commercial mortgage-backed
Assets [Abstract]
Securities available for sale	12,055	12,297
Private label mortgage-backed
Assets [Abstract]
Securities available for sale	84,770	86,469
Other asset backed
Assets [Abstract]
Securities available for sale	64,833	112,931
Obligations of states and political subdivisions
Assets [Abstract]
Securities available for sale	293,216	302,737
Corporate
Assets [Abstract]
Securities available for sale	70,383	73,250
Trust preferred
Assets [Abstract]
Securities available for sale	943	942
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets [Abstract]
Securities available for sale	0	0
Derivative financial instruments	0	0
Liabilities
Derivatives	0	0
Significant Other Observable Inputs (Level 2)
Assets [Abstract]
Securities available for sale	613,620	679,350
Derivative financial instruments	41,290	38,683
Liabilities
Derivatives	19,344	21,835
Significant Un- observable Inputs (Level 3)
Assets [Abstract]
Securities available for sale	0	0
Derivative financial instruments	0	0
Liabilities
Derivatives	0	0
Measured at Fair Value on a Recurring Basis
Assets [Abstract]
Loans held for sale, carried at fair value	8,935	12,063
Capitalized mortgage loan servicing rights	43,577	42,243
Derivative financial instruments	41,290	38,683
Liabilities
Derivatives	19,344	21,835
Assets
Loans held for sale, carried at the lower of cost or fair value		0
Measured at Fair Value on a Recurring Basis \| U.S. agency
Assets [Abstract]
Securities available for sale	8,925	9,507
Measured at Fair Value on a Recurring Basis \| U.S. agency residential mortgage-backed
Assets [Abstract]
Securities available for sale	78,495	81,217
Measured at Fair Value on a Recurring Basis \| U.S. agency commercial mortgage-backed
Assets [Abstract]
Securities available for sale	12,055	12,297
Measured at Fair Value on a Recurring Basis \| Private label mortgage-backed
Assets [Abstract]
Securities available for sale	84,770	86,469
Measured at Fair Value on a Recurring Basis \| Other asset backed
Assets [Abstract]
Securities available for sale	64,833	112,931
Measured at Fair Value on a Recurring Basis \| Obligations of states and political subdivisions
Assets [Abstract]
Securities available for sale	293,216	302,737
Measured at Fair Value on a Recurring Basis \| Corporate
Assets [Abstract]
Securities available for sale	70,383	73,250
Measured at Fair Value on a Recurring Basis \| Trust preferred
Assets [Abstract]
Securities available for sale	943	942
Measured at Fair Value on a Recurring Basis \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets [Abstract]
Loans held for sale, carried at fair value	0	0
Capitalized mortgage loan servicing rights	0	0
Derivative financial instruments	0	0
Liabilities
Derivatives	0	0
Assets
Loans held for sale, carried at the lower of cost or fair value		0
Measured at Fair Value on a Recurring Basis \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. agency
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. agency residential mortgage-backed
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. agency commercial mortgage-backed
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Private label mortgage-backed
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Other asset backed
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Obligations of states and political subdivisions
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Corporate
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Trust preferred
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Significant Other Observable Inputs (Level 2)
Assets [Abstract]
Loans held for sale, carried at fair value	8,935	12,063
Capitalized mortgage loan servicing rights	0	0
Derivative financial instruments	41,290	38,683
Liabilities
Derivatives	19,344	21,835
Assets
Loans held for sale, carried at the lower of cost or fair value		0
Measured at Fair Value on a Recurring Basis \| Significant Other Observable Inputs (Level 2) \| U.S. agency
Assets [Abstract]
Securities available for sale	8,925	9,507
Measured at Fair Value on a Recurring Basis \| Significant Other Observable Inputs (Level 2) \| U.S. agency residential mortgage-backed
Assets [Abstract]
Securities available for sale	78,495	81,217
Measured at Fair Value on a Recurring Basis \| Significant Other Observable Inputs (Level 2) \| U.S. agency commercial mortgage-backed
Assets [Abstract]
Securities available for sale	12,055	12,297
Measured at Fair Value on a Recurring Basis \| Significant Other Observable Inputs (Level 2) \| Private label mortgage-backed
Assets [Abstract]
Securities available for sale	84,770	86,469
Measured at Fair Value on a Recurring Basis \| Significant Other Observable Inputs (Level 2) \| Other asset backed
Assets [Abstract]
Securities available for sale	64,833	112,931
Measured at Fair Value on a Recurring Basis \| Significant Other Observable Inputs (Level 2) \| Obligations of states and political subdivisions
Assets [Abstract]
Securities available for sale	293,216	302,737
Measured at Fair Value on a Recurring Basis \| Significant Other Observable Inputs (Level 2) \| Corporate
Assets [Abstract]
Securities available for sale	70,383	73,250
Measured at Fair Value on a Recurring Basis \| Significant Other Observable Inputs (Level 2) \| Trust preferred
Assets [Abstract]
Securities available for sale	943	942
Measured at Fair Value on a Recurring Basis \| Significant Un- observable Inputs (Level 3)
Assets [Abstract]
Loans held for sale, carried at fair value	0	0
Capitalized mortgage loan servicing rights	43,577	42,243
Derivative financial instruments	0	0
Liabilities
Derivatives	0	0
Assets
Loans held for sale, carried at the lower of cost or fair value		0
Measured at Fair Value on a Recurring Basis \| Significant Un- observable Inputs (Level 3) \| U.S. agency
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Significant Un- observable Inputs (Level 3) \| U.S. agency residential mortgage-backed
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Significant Un- observable Inputs (Level 3) \| U.S. agency commercial mortgage-backed
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Significant Un- observable Inputs (Level 3) \| Private label mortgage-backed
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Significant Un- observable Inputs (Level 3) \| Other asset backed
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Significant Un- observable Inputs (Level 3) \| Obligations of states and political subdivisions
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Significant Un- observable Inputs (Level 3) \| Corporate
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Recurring Basis \| Significant Un- observable Inputs (Level 3) \| Trust preferred
Assets [Abstract]
Securities available for sale	0	0
Measured at Fair Value on a Non-recurring Basis: \| Collateral dependent loans \| Commercial \| Commercial and industrial
Assets
Loans receivable, fair value disclosure	5,035	551
Measured at Fair Value on a Non-recurring Basis: \| Collateral dependent loans \| Mortgage \| 1-4 family owner occupied - non-jumbo
Assets
Loans receivable, fair value disclosure	441	732
Measured at Fair Value on a Non-recurring Basis: \| Collateral dependent loans \| Mortgage \| 1-4 family non-owner occupied
Assets
Loans receivable, fair value disclosure		33
Measured at Fair Value on a Non-recurring Basis: \| Collateral dependent loans \| Mortgage \| 1-4 family - 2nd lien
Assets
Loans receivable, fair value disclosure	85	157
Measured at Fair Value on a Non-recurring Basis: \| Collateral dependent loans \| Mortgage \| Resort lending
Assets
Loans receivable, fair value disclosure	125	92
Measured at Fair Value on a Non-recurring Basis: \| Collateral dependent loans \| Installment \| Boat lending
Assets
Loans receivable, fair value disclosure	75	192
Measured at Fair Value on a Non-recurring Basis: \| Collateral dependent loans \| Installment \| Recreational vehicle lending
Assets
Loans receivable, fair value disclosure	155	196
Measured at Fair Value on a Non-recurring Basis: \| Collateral dependent loans \| Installment \| Other
Assets
Loans receivable, fair value disclosure	36	66
Measured at Fair Value on a Non-recurring Basis: \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Collateral dependent loans \| Commercial \| Commercial and industrial
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Collateral dependent loans \| Mortgage \| 1-4 family owner occupied - non-jumbo
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Collateral dependent loans \| Mortgage \| 1-4 family non-owner occupied
Assets
Loans receivable, fair value disclosure		0
Measured at Fair Value on a Non-recurring Basis: \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Collateral dependent loans \| Mortgage \| 1-4 family - 2nd lien
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Collateral dependent loans \| Mortgage \| Resort lending
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Collateral dependent loans \| Installment \| Boat lending
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Collateral dependent loans \| Installment \| Recreational vehicle lending
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Collateral dependent loans \| Installment \| Other
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Significant Other Observable Inputs (Level 2) \| Collateral dependent loans \| Commercial \| Commercial and industrial
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Significant Other Observable Inputs (Level 2) \| Collateral dependent loans \| Mortgage \| 1-4 family owner occupied - non-jumbo
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Significant Other Observable Inputs (Level 2) \| Collateral dependent loans \| Mortgage \| 1-4 family non-owner occupied
Assets
Loans receivable, fair value disclosure		0
Measured at Fair Value on a Non-recurring Basis: \| Significant Other Observable Inputs (Level 2) \| Collateral dependent loans \| Mortgage \| 1-4 family - 2nd lien
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Significant Other Observable Inputs (Level 2) \| Collateral dependent loans \| Mortgage \| Resort lending
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Significant Other Observable Inputs (Level 2) \| Collateral dependent loans \| Installment \| Boat lending
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Significant Other Observable Inputs (Level 2) \| Collateral dependent loans \| Installment \| Recreational vehicle lending
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Significant Other Observable Inputs (Level 2) \| Collateral dependent loans \| Installment \| Other
Assets
Loans receivable, fair value disclosure	0	0
Measured at Fair Value on a Non-recurring Basis: \| Significant Un- observable Inputs (Level 3) \| Collateral dependent loans \| Commercial \| Commercial and industrial
Assets
Loans receivable, fair value disclosure	5,035	551
Measured at Fair Value on a Non-recurring Basis: \| Significant Un- observable Inputs (Level 3) \| Collateral dependent loans \| Mortgage \| 1-4 family owner occupied - non-jumbo
Assets
Loans receivable, fair value disclosure	441	732
Measured at Fair Value on a Non-recurring Basis: \| Significant Un- observable Inputs (Level 3) \| Collateral dependent loans \| Mortgage \| 1-4 family non-owner occupied
Assets
Loans receivable, fair value disclosure		33
Measured at Fair Value on a Non-recurring Basis: \| Significant Un- observable Inputs (Level 3) \| Collateral dependent loans \| Mortgage \| 1-4 family - 2nd lien
Assets
Loans receivable, fair value disclosure	85	157
Measured at Fair Value on a Non-recurring Basis: \| Significant Un- observable Inputs (Level 3) \| Collateral dependent loans \| Mortgage \| Resort lending
Assets
Loans receivable, fair value disclosure	125	92
Measured at Fair Value on a Non-recurring Basis: \| Significant Un- observable Inputs (Level 3) \| Collateral dependent loans \| Installment \| Boat lending
Assets
Loans receivable, fair value disclosure	75	192
Measured at Fair Value on a Non-recurring Basis: \| Significant Un- observable Inputs (Level 3) \| Collateral dependent loans \| Installment \| Recreational vehicle lending
Assets
Loans receivable, fair value disclosure	155	196
Measured at Fair Value on a Non-recurring Basis: \| Significant Un- observable Inputs (Level 3) \| Collateral dependent loans \| Installment \| Other
Assets
Loans receivable, fair value disclosure	$ 36	$ 66

Securities - Narrative (Details)	3 Months Ended
Securities - Narrative (Details)	Mar. 31, 2024 USD ($) security	Mar. 31, 2023 USD ($) security	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Marketable Securities [Line Items]
Debt securities, available-for-sale, allowance for credit loss	$ 0	$ 0	$ 0
Debt securities, available-for-sale, accrued interest receivable	3,600,000		4,600,000
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss	1,900,000		1,800,000
Debt securities, held-to-maturity, allowance for credit loss	155,000	$ 160,000	157,000	$ 168,000
Securities HTM, defaulted, number of securities \| security		1
Securities HTM, provision for credit loss, period increase (decrease)		$ 3,000,000
Securities HTM charged against the allowance	0	3,000,000
Proceeds from sale of held-to-maturity securities	$ 1,100,000
U.S. agency
Marketable Securities [Line Items]
Debt securities, available-for-sale, unrealized loss position, number of positions \| security	30
Debt securities, held-to-maturity, allowance for credit loss	$ 0		0
U.S. agency residential mortgage-backed
Marketable Securities [Line Items]
Debt securities, available-for-sale, unrealized loss position, number of positions \| security	159
Debt securities, held-to-maturity, allowance for credit loss	$ 0		0
U.S. agency commercial mortgage-backed
Marketable Securities [Line Items]
Debt securities, available-for-sale, unrealized loss position, number of positions \| security	10
Debt securities, held-to-maturity, allowance for credit loss	$ 0		0
Private label mortgage-backed
Marketable Securities [Line Items]
Debt securities, available-for-sale, unrealized loss position, number of positions \| security	86
Debt securities, held-to-maturity, allowance for credit loss	$ 4,000	1,000	4,000	1,000
Securities HTM charged against the allowance	$ 0	0
Other asset backed
Marketable Securities [Line Items]
Debt securities, available-for-sale, unrealized loss position, number of positions \| security	72
Corporate
Marketable Securities [Line Items]
Debt securities, available-for-sale, unrealized loss position, number of positions \| security	75
Debt securities, held-to-maturity, allowance for credit loss	$ 116,000	116,000	116,000	123,000
Securities HTM charged against the allowance	$ 0	3,000,000
Obligations of states and political subdivisions
Marketable Securities [Line Items]
Debt securities, available-for-sale, unrealized loss position, number of positions \| security	317
Debt securities, held-to-maturity, allowance for credit loss	$ 31,000	39,000	$ 33,000	$ 39,000
Securities HTM charged against the allowance	$ 0	$ 0
Debt Security, Government, Non-US
Marketable Securities [Line Items]
Debt securities, available-for-sale, unrealized loss position, number of positions \| security	1

Share Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Restricted Stock and Performance Stock Units Granted

A summary of restricted stock and performance stock units (“PSU”) granted pursuant to our long-term incentive plan follows:


	Three Months Ended March 31,
		2024	2023

Restricted stock		80,355	71,346
PSU		18,822	18,790

Share-Based Payment Arrangement, Option, Activity

A summary of outstanding stock option grants and related transactions follows:


	Number of Shares	Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregated Intrinsic Value
					(In thousands)
Outstanding at January 1, 2024	11,724	$	11.73
Granted	—	—
Exercised	(5,583)	8.96
Forfeited	—	—
Expired	—	—
Outstanding at March 31, 2024	6,141	$	14.24	3.0	$	68

Vested and expected to vest at March 31, 2024	6,141	$	14.24	3.0	$	68
Exercisable at March 31, 2024	6,141	$	14.24	3.0	$	68

Schedule of Nonvested Restricted Stock Units Activity

A summary of outstanding non-vested stock and related transactions follows:


	Number of Shares	Weighted- Average Grant Date Fair Value
Outstanding at January 1, 2024	269,233	$	22.93
Granted	99,177	24.51
Vested	(91,899)	20.43
Forfeited	(587)	23.80
Outstanding at March 31, 2024	275,924	$	24.33

Cash Proceeds Received and Tax Benefit from Share-Based Payment Awards

Certain information regarding options exercised during the periods follows:


	Three Months Ended March 31,
		2024		2023
	(In thousands)
Intrinsic value		$	91	$	223
Cash proceeds received		$	—	$	100
Tax benefit realized		$	19	$	47

Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Securities available for sale	$ 613,620	$ 679,350
Securities held to maturity	349,957	353,988
Reserve Bank Stock	16,821	16,821
Liabilities
Other borrowings	49,977	50,026
Subordinated debt	39,529	39,510
Subordinated debentures	39,745	39,728
Reciprocal deposits included in deposits with no stated maturity	781,645	723,014
Reciprocal deposits included in deposits with stated maturity	111,998	109,006
Recorded Book Balance
Assets
Cash and due from banks	41,646	68,208
Interest bearing deposits	120,198	101,573
Securities available for sale	613,620	679,350
Securities held to maturity	349,957	353,988
Reserve Bank Stock	16,821	16,821
Net loans and loans held for sale	3,792,587	3,748,306
Accrued interest receivable	18,774	19,044
Derivative financial instruments	41,290	38,683
Liabilities
Deposits with no stated maturity	3,751,701	3,704,808
Deposits with stated maturity	830,713	918,071
Other borrowings	49,977	50,026
Subordinated debt	39,529	39,510
Subordinated debentures	39,745	39,728
Accrued interest payable	6,501	6,534
Derivative financial instruments	19,344	21,835
Fair Value
Assets
Cash and due from banks	41,646	68,208
Interest bearing deposits	120,198	101,573
Securities available for sale	613,620	679,350
Securities held to maturity	311,013	318,606
Net loans and loans held for sale	3,542,984	3,453,790
Accrued interest receivable	18,774	19,044
Derivative financial instruments	41,290	38,683
Liabilities
Deposits with no stated maturity	3,751,701	3,704,808
Deposits with stated maturity	826,829	914,404
Other borrowings	49,889	49,831
Subordinated debt	38,994	40,352
Subordinated debentures	39,643	38,103
Accrued interest payable	6,501	6,534
Derivative financial instruments	19,344	21,835
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Cash and due from banks	41,646	68,208
Interest bearing deposits	120,198	101,573
Securities available for sale	0	0
Securities held to maturity	0	0
Net loans and loans held for sale	0	0
Accrued interest receivable	191	58
Derivative financial instruments	0	0
Liabilities
Deposits with no stated maturity	3,751,701	3,704,808
Deposits with stated maturity	0	0
Other borrowings	0	0
Subordinated debt	0	0
Subordinated debentures	0	0
Accrued interest payable	479	482
Derivative financial instruments	0	0
Significant Other Observable Inputs (Level 2)
Assets
Cash and due from banks	0	0
Interest bearing deposits	0	0
Securities available for sale	613,620	679,350
Securities held to maturity	311,013	318,606
Net loans and loans held for sale	8,935	12,063
Accrued interest receivable	5,541	6,486
Derivative financial instruments	41,290	38,683
Liabilities
Deposits with no stated maturity	0	0
Deposits with stated maturity	826,829	914,404
Other borrowings	49,889	49,831
Subordinated debt	38,994	40,352
Subordinated debentures	39,643	38,103
Accrued interest payable	6,022	6,052
Derivative financial instruments	19,344	21,835
Significant Un- observable Inputs (Level 3)
Assets
Cash and due from banks	0	0
Interest bearing deposits	0	0
Securities available for sale	0	0
Securities held to maturity	0	0
Net loans and loans held for sale	3,534,049	3,441,727
Accrued interest receivable	13,042	12,500
Derivative financial instruments	0	0
Liabilities
Deposits with no stated maturity	0	0
Deposits with stated maturity	0	0
Other borrowings	0	0
Subordinated debt	0	0
Subordinated debentures	0	0
Accrued interest payable	0	0
Derivative financial instruments	$ 0	$ 0

Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Common stock, dividends declared (in dollars per share)	$ 0.24	$ 0.23
Stock issued during period, new issues (in shares)		15,500
Share-based payment arrangement, shares issued, after forfeiture (in shares)	102,324	86,394
Share-based payment arrangement, shares withheld for tax withholding obligation (in shares)	39,683	27,562

Securities

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Securities

Securities available for sale (“AFS”) consist of the following:


	Amortized Cost		Unrealized
			Gains		Losses		Fair Value
	(In thousands)
March 31, 2024
U.S. agency	$	9,770	$	3	$	848	$	8,925
U.S. agency residential mortgage-backed	88,010		6		9,521		78,495
U.S. agency commercial mortgage-backed	13,464		—		1,409		12,055
Private label mortgage-backed	90,761		255		6,246		84,770
Other asset backed	66,083		17		1,267		64,833
Obligations of states and political subdivisions	331,399		234		38,417		293,216
Corporate	76,056		—		5,673		70,383
Trust preferred	984		—		41		943
Total	$	676,527	$	515	$	63,422	$	613,620

December 31, 2023
U.S. agency	$	10,299	$	5	$	797	$	9,507
U.S. agency residential mortgage-backed	90,195		3		8,981		81,217
U.S. agency commercial mortgage-backed	13,706		—		1,409		12,297
Private label mortgage-backed	93,527		249		7,307		86,469
Other asset backed	114,867		3		1,939		112,931
Obligations of states and political subdivisions	341,177		204		38,644		302,737
Corporate	79,296		—		6,046		73,250
Trust preferred	983		—		41		942
Total	$	744,050	$	464	$	65,164	$	679,350

Securities held to maturity (“HTM”) consist of the following:


	Carrying Value		Transferred Unrealized Loss (1)		ACL		Amortized Cost		Unrealized				Fair Value
									Gains		Losses
	(In thousands)
March 31, 2024
U.S. agency	$	25,672	$	1,572	$	—	$	27,244	$	—	$	5,098	$	22,146
U.S. agency residential mortgage-backed	107,123		9,477		—		116,600		—		25,047		91,553
U.S. agency commercial mortgage-backed	4,123		142		—		4,265		—		448		3,817
Private label mortgage-backed	7,313		274		4		7,591		—		804		6,787
Obligations of states and political subdivisions	159,010		6,446		31		165,487		3		19,680		145,810
Corporate	45,767		725		116		46,608		—		6,708		39,900
Trust preferred	949		47		4		1,000		—		—		1,000
Total	$	349,957	$	18,683	$	155	$	368,795	$	3	$	57,785	$	311,013

December 31, 2023
U.S. agency	$	25,768	$	1,603	$	—	$	27,371	$	—	$	4,892	$	22,479
U.S. agency residential mortgage-backed	108,770		9,715		—		118,485		—		23,849		94,636
U.S. agency commercial mortgage-backed	4,146		153		—		4,299		—		460		3,839
Private label mortgage-backed	7,302		302		4		7,608		—		854		6,754
Obligations of states and political subdivisions	161,352		6,879		33		168,264		88		18,807		149,545
Corporate	45,702		803		116		46,621		780		7,033		40,368
Trust preferred	948		48		4		1,000		—		15		985
Total	$	353,988	$	19,503	$	157	$	373,648	$	868	$	55,910	$	318,606

(1)Represents the remaining unrealized loss to be accreted on securities that were transferred from AFS to HTM on April 1, 2022.


	Less Than Twelve Months				Twelve Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
March 31, 2024
U.S. agency	$	182	$	—	$	7,981	$	848	$	8,163	$	848
U.S. agency residential mortgage-backed	—		—		76,809		9,521		76,809		9,521
U.S. agency commercial mortgage-backed	—		—		12,056		1,409		12,056		1,409
Private label mortgage-backed	3,480		26		79,576		6,220		83,056		6,246
Other asset backed	3,441		28		53,048		1,239		56,489		1,267
Obligations of states and political subdivisions	—		—		293,216		38,417		293,216		38,417
Corporate	—		—		70,383		5,673		70,383		5,673
Trust preferred	—		—		942		41		942		41
Total	$	7,103	$	54	$	594,011	$	63,368	$	601,114	$	63,422

December 31, 2023
U.S. agency	$	130	$	—	$	8,453	$	797	$	8,583	$	797
U.S. agency residential mortgage-backed	358		1		80,008		8,980		80,366		8,981
U.S. agency commercial mortgage-backed	—		—		12,297		1,409		12,297		1,409
Private label mortgage-backed	6,285		356		79,507		6,951		85,792		7,307
Other asset backed	7,714		88		97,203		1,851		104,917		1,939
Obligations of states and political subdivisions	—		—		301,038		38,644		301,038		38,644
Corporate	—		—		73,249		6,046		73,249		6,046
Trust preferred	—		—		942		41		942		41
Total	$	14,487	$	445	$	652,697	$	64,719	$	667,184	$	65,164

Securities AFS in unrealized loss positions are evaluated quarterly for impairment related to credit losses. For securities AFS in an unrealized loss position, we first assess whether we intend to sell, or it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. For securities AFS that do not meet this criteria, we evaluate whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, we consider the extent to which fair value is less than amortized cost, adverse conditions specifically related to the security and the issuer and the impact of changes in market interest rates on the market value of the security, among other factors. If this assessment indicates that a credit loss exists, we compare the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis for the security, a credit loss exists and an ACL is recorded, limited to the amount that the fair value of the security is less than its amortized cost basis. Any impairment that has not been recorded through an ACL is recognized in other comprehensive income (loss), net of applicable taxes. No ACL for securities AFS was needed at March 31, 2024 and December 31, 2023. Accrued interest receivable on securities AFS totaled $3.6 million and $4.6 million at March 31, 2024 and December 31, 2023, respectively,

and is excluded from the estimate of credit losses and is included in accrued income and other assets in the Condensed Consolidated Statements of Financial Condition.

U.S. agency, U.S. agency residential mortgage-backed and U.S. agency commercial mortgage-backed securities — at March 31, 2024, we had 30 U.S. agency, 159 U.S. agency residential mortgage-backed and 10 U.S. agency commercial mortgage-backed securities whose fair value is less than amortized cost. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major credit rating agencies, and have a long history of no credit losses. The unrealized losses are largely attributed to widening spreads to Treasury bonds and/or an increase in interest rates since acquisition.

Private label mortgage backed, other asset backed and corporate securities — at March 31, 2024, we had 86 private label mortgage backed, 72 other asset backed, and 75 corporate securities whose fair value is less than amortized cost. The unrealized losses are primarily due to credit spread widening and/or an increase in interest rates since acquisition.

Obligations of states and political subdivisions — at March 31, 2024, we had 317 municipal securities whose fair value is less than amortized cost. The unrealized losses are primarily due to an increase in interest rates since acquisition.

Trust preferred securities — at March 31, 2024, we had one trust preferred security whose fair value is less than amortized cost. This trust preferred security is a single issue security issued by a trust subsidiary of a bank holding company. The pricing of trust preferred securities has suffered from credit spread widening. This security is rated by a major rating agency as investment grade.

At March 31, 2024 management does not intend to liquidate any of the securities discussed above and it is more likely than not that we will not be required to sell these securities prior to recovery of these unrealized losses.

We recorded no credit related charges in our Condensed Consolidated Statements of Operations related to securities AFS during the three month periods ended March 31, 2024 and 2023, respectively.

The ACL on securities HTM is a contra asset valuation account that is deducted from the carrying amount of securities HTM to present the net amount expected to be collected. Securities HTM are charged off against the ACL when deemed uncollectible. Adjustments to the ACL are reported in our Condensed Consolidated Statements of Operations in provision for credit losses. We measure expected credit losses on securities HTM on a collective basis by major security type with each type sharing similar risk characteristics, and we consider historical credit loss information. Accrued interest receivable on securities HTM totaled $1.9 million and $1.8 million at March 31, 2024 and December 31, 2023, respectively and is excluded from the estimate of credit losses and is included in accrued income and other assets in the Condensed Consolidated Statements of Financial Condition. With regard to U.S. Government-sponsored agency and mortgage-backed securities (residential and commercial), all these securities are issued by a U.S. government-sponsored entity and have an implicit or explicit government guarantee; therefore, no allowance for credit losses has been recorded for these securities. With regard to obligations of states and political subdivisions, private label-mortgage-backed, corporate and trust preferred securities HTM, we consider (1) issuer bond ratings, (2) long-term historical loss rates for given bond ratings, (3) the financial condition of the issuer, and (4) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities. Historical loss rates associated with securities having similar grades as those in our portfolio have been insignificant. During the first quarter of 2023, one corporate security (Signature Bank) defaulted resulting in a $3.0 million provision for credit losses and a corresponding full charge-off. Subsequent to this security's charge-off, a portion of its fair value had recovered and was subsequently sold during the first quarter of 2024 for $1.1 million during which period we recorded that amount as a recovery to the ACL. Despite this lone security loss, the long-term historical loss rates associated with securities having similar grades as those in our portfolio have been insignificant. Furthermore, as of March 31, 2024 and December 31, 2023, there were no past due principal and interest payments associated with these securities. At those same dates an allowance for credit losses of $155,000 and $157,000, respectively was recorded on non U.S. agency securities HTM based on applying the long-term historical credit loss rate, as published by credit rating agencies, for similarly rated securities.

On a quarterly basis, we monitor the credit quality of securities HTM through the use of credit ratings. The carrying value of securities HTM aggregated by credit quality follow:


	Private Label Mortgage- Backed		Obligations of States and Political Subdivisions		Corporate		Trust Preferred		Carrying Value Total
	(In thousands)
March 31, 2024
Credit rating:
AAA	$	7,313	$	36,148	$	—	$	—	$	43,461
AA	—		102,612		—		—		102,612
A	—		3,177		6,930		—		10,107
BBB	—		853		33,960		—		34,813
BB	—		—		1,948		—		1,948
Non-rated	—		16,220		2,929		949		20,098
Total	$	7,313	$	159,010	$	45,767	$	949	$	213,039

December 31, 2023
Credit rating:
AAA	$	7,302	$	36,629	$	—	$	—	$	43,931
AA	—		102,583		—		—		102,583
A	—		3,172		6,923		—		10,095
BBB	—		856		33,913		—		34,769
BB	—		—		1,943		—		1,943
Non-rated	—		18,112		2,923		948		21,983
Total	$	7,302	$	161,352	$	45,702	$	948	$	215,304

An analysis of the allowance for credit losses by security HTM type for the three months ended March 31 follows:


	Private Label Mortgage- Backed		Obligations of States and Political Subdivisions		Corporate		Trust Preferred		Total
	(In thousands)
2024
Balance at beginning of period	$	4	$	33	$	116	$	4	$	157
Additions (deductions)
Provision for credit losses	—		(2)		(1,125)		—		(1,127)
Recoveries credited to the allowance	—		—		1,125		—		1,125
Securities HTM charged against the allowance	—		—		—		—		—
Balance at end of period	$	4	$	31	$	116	$	4	$	155

2023
Balance at beginning of period	$	1	$	39	$	123	$	5	$	168
Additions (deductions)
Provision for credit losses	—		—		2,993		(1)		2,992
Recoveries credited to the allowance	—		—		—		—		—
Securities HTM charged against the allowance	—		—		(3,000)		—		(3,000)
Balance at end of period	$	1	$	39	$	116	$	4	$	160

The amortized cost and fair value of securities AFS and securities HTM at March 31, 2024, by contractual maturity, follow:


	Securities AFS				Securities HTM
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In thousands)
Maturing within one year	$	4,614	$	4,547	$	4,580	$	4,571
Maturing after one year but within five years	158,488		145,407		56,080		51,390
Maturing after five years but within ten years	53,274		46,945		96,684		82,065
Maturing after ten years	201,833		176,568		82,995		70,830
	418,209		373,467		240,339		208,856
U.S. agency residential mortgage-backed	88,010		78,495		116,600		91,553
U.S. agency commercial mortgage-backed	13,464		12,055		4,265		3,817
Private label mortgage-backed	90,761		84,770		7,591		6,787
Other asset backed	66,083		64,833		—		—
Total	$	676,527	$	613,620	$	368,795	$	311,013

The actual maturity may differ from the contractual maturity because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

Gains and losses realized on the sale of securities AFS are determined using the specific identification method and are recognized on a trade-date basis. A summary of proceeds from the sale of securities AFS and gains and losses for the three month periods ending March 31, follows:


			Realized
	Proceeds		Gains		Losses
	(In thousands)
2024	$	37,273	$	14	$	283
2023	278		—		222

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Cash Flows [Abstract]
Net income	$ 15,991	$ 12,991
Adjustments to Reconcile Net Income to Net Cash From Operating Activities
Proceeds from sales of loans held for sale	75,178	65,428
Disbursements for loans held for sale	(70,800)	(54,430)
Provision for credit losses	744	2,160
Deferred income tax expense	1,535	1,436
Net deferred loan fees (costs)	127	160
Net depreciation, amortization of intangible assets and premiums and accretion of discounts on securities and loans	2,509	2,425
Net gains on mortgage loans	(1,364)	(1,256)
Net losses on securities available for sale	269	222
Share based compensation	591	569
(Increase) decrease in accrued income and other assets	(3,324)	1,786
Decrease in accrued expenses and other liabilities	(623)	(8,106)
Total Adjustments	4,842	10,394
Net Cash From Operating Activities	20,833	23,385
Cash Flow Used in Investing Activities
Proceeds from the sale of securities available for sale	37,273	278
Proceeds from the sale of securities held to maturity previously charged off	1,125	0
Proceeds from maturities, prepayments and calls of securities available for sale	27,484	27,742
Proceeds from maturities, prepayments and calls of securities held to maturity	2,724	3,334
Purchases of securities held to maturity	0	(400)
Net increase in portfolio loans (loans originated, net of principal payments)	(58,407)	(66,329)
Proceeds from the sale of portfolio loans	6,808	41,237
Proceeds from bank-owned life insurance	889	0
Proceeds from the sale of other real estate and repossessed assets	172	243
Proceeds from the sale of property and equipment	299	174
Capital expenditures	(676)	(1,325)
Net Cash Used in Investing Activities	17,691	4,954
Cash Flow From Financing Activities
Net increase (decrease) in total deposits	(40,465)	165,680
Net decrease in other borrowings	(22)	(60,977)
Proceeds from Federal Home Loan Bank Advances	0	95,000
Payments of Federal Home Loan Bank Advances	0	(70,000)
Dividends paid	(4,999)	(4,860)
Proceeds from issuance of common stock	0	48
Share based compensation withholding obligation	(975)	(582)
Net Cash From Financing Activities	(46,461)	124,309
Net Increase (Decrease) in Cash and Cash Equivalents	(7,937)	152,648
Cash and Cash Equivalents at Beginning of Period	169,781	74,371
Cash and Cash Equivalents at End of Period	161,844	227,019
Cash paid during the period for
Interest	24,962	13,697
Income taxes	0	0
Transfers to other real estate and repossessed assets	586	241
Right of use assets obtained in exchange for lease obligations	$ 2,119	$ 400

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

New Accounting Standards (Policies)	3 Months Ended
New Accounting Standards (Policies)	Mar. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, ‘‘Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting’’ and in December 2022 the FASB issued ASU 2022-06, "Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848". These new ASUs provide temporary optional expedients and exceptions to GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates. Entities can elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. Entities that make such elections would not have to remeasure contracts at the modification date or reassess a previous accounting determination. Entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. We had formed a cross-functional project team to lead the transition from LIBOR to a planned adoption of reference rates which included Secured Overnight Financing Rate (“SOFR”). We utilized the timeline guidance published by the Alternative Reference Rates Committee to develop and achieve internal milestones during the transitional period. We discontinued the use of new LIBOR-based loans as of December 31, 2021, according to regulatory guidelines. We also discontinued the use of new LIBOR based interest rate derivatives as of December 31, 2021. The amended guidance under Topic 848 and our ability to elect its temporary optional expedients and exceptions are effective for us through December 31, 2024. In March, 2023, the FASB issued ASU 2023-02, "Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force)". This ASU expands the use of the proportional amortization method of accounting — currently allowed only for investments in low-income housing tax credit ("LIHTC") structures — to equity investments in other tax credit structures that meet certain criteria. Common tax credit programs that investors access via tax equity structures and that may now be eligible for application of the proportional amortization method include: new markets tax credits, historic rehabilitation tax credit programs, and renewable energy tax credit programs. This ASU takes effect in reporting periods beginning after December 15, 2023, with early adoption permitted. The adoption of this ASU on January 1, 2024, did not have a material impact on our Condensed Consolidated Financial Statements. In November, 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 323): Improvements to Reportable Segment Disclosures". This ASU enhances disclosures of significant segment expenses by requiring entities to disclose significant segment expenses regularly provided to the chief operating decision maker, extend certain annual disclosures to interim periods, and permit more than one measure of segment profit or loss to be reported under certain conditions. This ASU takes effect for annual reporting periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We do not expect the adoption of this ASU to have a material impact on our Condensed Consolidated Financial Statements. In December, 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". This ASU modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). This ASU also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. This ASU takes effect in reporting periods beginning after December 15, 2024, with early adoption permitted. We do not expect the adoption of this ASU to have a material impact on our Condensed Consolidated Financial Statements.

Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Fair Values of Financial Instruments [Abstract]

Estimated Recorded Book Balances and Fair Values

The estimated recorded book balances and fair values follow:


					Fair Value Using
	Recorded Book Balance		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Un- observable Inputs (Level 3)
	(In thousands)
March 31, 2024
Assets
Cash and due from banks	$	41,646	$	41,646	$	41,646	$	—	$	—
Interest bearing deposits	120,198		120,198		120,198		—		—
Securities available for sale	613,620		613,620		—		613,620		—
Securities held to maturity	349,957		311,013		—		311,013		—
Federal Home Loan Bank and Federal
Reserve Bank Stock	16,821		NA		NA		NA		NA
Net loans and loans held for sale	3,792,587		3,542,984		—		8,935		3,534,049
Accrued interest receivable	18,774		18,774		191		5,541		13,042
Derivative financial instruments	41,290		41,290		—		41,290		—

Liabilities
Deposits with no stated maturity (1)	$	3,751,701	$	3,751,701	$	3,751,701	$	—	$	—
Deposits with stated maturity (1)	830,713		826,829		—		826,829		—
Other borrowings	49,977		49,889		—		49,889		—
Subordinated debt	39,529		38,994		—		38,994		—
Subordinated debentures	39,745		39,643		—		39,643		—
Accrued interest payable	6,501		6,501		479		6,022		—
Derivative financial instruments	19,344		19,344		—		19,344		—

December 31, 2023
Assets
Cash and due from banks	$	68,208	$	68,208	$	68,208	$	—	$	—
Interest bearing deposits	101,573		101,573		101,573		—		—
Securities available for sale	679,350		679,350		—		679,350		—
Securities held to maturity	353,988		318,606		—		318,606		—
Federal Home Loan Bank and Federal
Reserve Bank Stock	16,821		NA		NA		NA		NA
Net loans and loans held for sale	3,748,306		3,453,790		—		12,063		3,441,727
Accrued interest receivable	19,044		19,044		58		6,486		12,500
Derivative financial instruments	38,683		38,683		—		38,683		—

Liabilities
Deposits with no stated maturity (1)	$	3,704,808	$	3,704,808	$	3,704,808	$	—	$	—
Deposits with stated maturity (1)	918,071		914,404		—		914,404		—
Other borrowings	50,026		49,831		—		49,831		—
Subordinated debt	39,510		40,352		—		40,352		—
Subordinated debentures	39,728		38,103		—		38,103		—
Accrued interest payable	6,534		6,534		482		6,052		—
Derivative financial instruments	21,835		21,835		—		21,835		—


(1)			Deposits with no stated maturity include reciprocal deposits with a recorded book balance of $781.645 million and $723.014 million at March 31, 2024 and December 31, 2023, respectively. Deposits with a stated maturity include reciprocal deposits with a recorded book balance of $111.998 million and $109.006 million at March 31, 2024 and December 31, 2023, respectively.

Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Lease, Cost

The cost components of our operating leases follows:


	Three Months Ended March 31,
		2024		2023
	(In thousands)
Operating lease cost		$	346	$	362
Variable lease cost		11		24
Short-term lease cost		24		22
Total		$	381	$	408

Supplemental Balance Sheet Information Related to Operating Leases

Supplemental balance sheet information related to our operating leases follows:


	March 31, 2024			December 31, 2023
	(Dollars in thousands)
Lease right of use asset (1)	$	6,744		$	4,911
Lease liabilities (2)	$	6,953		$	5,114

Weighted average remaining lease term (years)	7.63			6.03
Weighted average discount rate	3.6		%	2.7		%

(1)Included in Accrued income and other assets in our Condensed Consolidated Statements of Financial Condition.

(2)Included in Accrued expenses and other liabilities in our Condensed Consolidated Statements of Financial Condition.

Lessee, Operating Lease, Liability, Maturity

Maturity analysis of our lease liabilities at March 31, 2024 based on required contractual payments follows:


	(In thousands)

Nine months ending December 31, 2024	$	1,001
2025	1,288
2026	1,122
2027	939
2028	916
2029 and thereafter	2,861
Total lease payments	8,127
Less imputed interest	(1,174)
Total	$	6,953

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 15,991	$ 12,991
Securities available for sale
Unrealized gains arising during period	1,524	14,393
Accretion of net unrealized losses on securities transferred to held to maturity	820	850
Reclassification adjustments for losses included in earnings	269	222
Unrealized gains recognized in other comprehensive income on securities available for sale	2,613	15,465
Income tax expense	549	3,248
Unrealized gains recognized in other comprehensive income on securities available for sale, net of tax	2,064	12,217
Derivative instruments
Unrealized losses arising during period	(2,229)	(420)
Reclassification adjustment for expense recognized in earnings	266	84
Unrealized losses recognized in other comprehensive income on derivative instruments	(1,963)	(336)
Income tax benefit	(412)	(71)
Unrealized losses recognized in other comprehensive income on derivative instruments, net of tax	(1,551)	(265)
Other comprehensive income	513	11,952
Comprehensive income	$ 16,504	$ 24,943

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments According to Type of Hedge Designation

Our derivative financial instruments according to the type of hedge in which they are designated follows:


	March 31, 2024
	Notional Amount		Average Maturity (years)	Fair Value
	(Dollars in thousands)
Fair value hedge designation
Pay-fixed interest rate swap agreement - commercial	$	5,937	5.1	$	428
Pay-fixed interest rate swap agreements - securities available for sale	148,895		3.6	16,835
Pay-fixed interest rate swap agreements - installment	100,000		3.2	460
Pay-fixed interest rate swap agreements - mortgage	100,000		4.1	(129)
Pay-variable interest rate swap agreements - FHLB Advance	50,000		1.5	(25)
Interest rate cap agreements - securities available for sale	40,970		4.1	534
Total	$	445,802	3.4	$	18,103

Cash flow hedge designation
Interest rate floor agreements - commercial	$	250,000	3.0	$	3,626

No hedge designation
Rate-lock mortgage loan commitments	$	25,501	0.1	$	267
Mandatory commitments to sell mortgage loans	32,798		0.1	(50)
Pay-fixed interest rate swap agreements - commercial	402,119		5.9	13,139
Pay-variable interest rate swap agreements - commercial	402,119		5.9	(13,139)
Total	$	862,537	5.5	$	217


	December 31, 2023
	Notional Amount		Average Maturity (years)	Fair Value
	(Dollars in thousands)
Fair value hedge designation
Pay-fixed interest rate swap agreement - commercial	$	6,033	5.4	$	349
Pay-fixed interest rate swap agreements - securities available for sale	148,895		3.9	15,287
Pay-fixed interest rate swap agreements - installment	100,000		3.4	(1,228)
Pay-fixed interest rate swap agreements - mortgage	100,000		4.3	(2,131)
Interest rate cap agreements - securities available for sale	40,970		4.3	456
Total	$	395,898	3.9	$	12,733

Cash flow hedge designation
Interest rate floor agreements - commercial	$	150,000	3.5	$	4,221

No hedge designation
Rate-lock mortgage loan commitments	18,081		0.1	173
Mandatory commitments to sell mortgage loans	30,442		0.1	(279)
Pay-fixed interest rate swap agreements - commercial	379,012		5.9	7,169
Pay-variable interest rate swap agreements - commercial	379,012		5.9	(7,169)
Total	$	806,547	5.5	$	(106)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

Fair Values of Derivative Instruments


	Asset Derivatives						Liability Derivatives
	March 31, 2024			December 31, 2023			March 31, 2024			December 31, 2023
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
	(In thousands)
Derivatives designated as hedging instruments
Pay-fixed interest rate swap agreements	Other assets	$	17,964	Other assets	$	15,636	Other liabilities	$	370	Other liabilities	$	3,359
Pay-variable interest rate swap agreements	Other assets	2		Other assets	—		Other liabilities	27		Other liabilities	—
Interest rate cap agreements	Other assets	534		Other assets	456		Other liabilities	—		Other liabilities	—
Interest rate floor agreements	Other assets	3,626		Other assets	4,221		Other liabilities	—		Other liabilities	—
		22,126			20,313			397			3,359
Derivatives not designated as hedging instruments
Rate-lock mortgage loan commitments	Other assets	267		Other assets	173		Other liabilities	—		Other liabilities	—
Mandatory commitments to sell mortgage loans	Other assets	—		Other assets	—		Other liabilities	50		Other liabilities	279
Pay-fixed interest rate swap agreements - commercial	Other assets	16,018		Other assets	12,683		Other liabilities	2,879		Other liabilities	5,514
Pay-variable interest rate swap agreements - commercial	Other assets	2,879		Other assets	5,514		Other liabilities	16,018		Other liabilities	12,683
		19,164			18,370			18,947			18,476
Total derivatives		$	41,290		$	38,683		$	19,344		$	21,835

Derivative Instruments, Gain (Loss)

The effect of derivative financial instruments on the Condensed Consolidated Statements of Operations follows:


	Loss Recognized in Other Comprehensive Income (Loss) (Effective Portion)				Location of Loss Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Effective Portion)	Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)					Gain (Loss) Recognized in Income
	Three Month Periods Ended March 31,					Three Month Periods Ended March 31,				Location of Gain (Loss) Recognized in Income	Three Month Periods Ended March 31,
	2024		2023			2024		2023			2024		2023
											(In thousands)
Fair Value Hedges
Pay-fixed interest rate swap agreement - commercial										Interest and fees on loans	$	79	$	(101)
Pay-fixed interest rate swap agreements - securities available for sale										Interest on securities available for sale - tax - exempt	1,548		(2,744)
Pay-fixed interest rate swap agreements - Installment										Interest and fees on loans	1,688		(421)
Pay-fixed interest rate swap agreements - Mortgage										Interest and fees on loans	2,002		—
Pay-variable interest rate swap agreements - FHLB Advance										Interest expense - other borrowings and subordinated debt and debentures	(25)		—
Interest rate cap agreements - securities available for sale	$	38	$	(572)	Interest on securities available for sale - tax - exempt	$	(54)	$	(84)	Interest on securities available for sale - tax - exempt	40		51
Interest rate cap agreements - installment	—		152		Interest and fees on loans	—		—		Interest and fees on loans	—		(14)
Total	$	38	$	(420)		$	(54)	$	(84)		$	5,332	$	(3,229)

Cash Flow Hedges
Interest rate floor agreements - commercial	$	(2,267)	$	—	Interest and fees on loans	$	(212)	$	—	Interest and fees on loans	$	(212)	$	—

No hedge designation
Rate-lock mortgage loan commitments										Net gains on mortgage loans	$	94	$	683
Mandatory commitments to sell mortgage loans										Net gains on mortgage loans	229		(746)
Pay-fixed interest rate swap agreements - commercial										Interest income	5,970		$	5,574
Pay-variable interest rate swap agreements - commercial										Interest income	(5,970)		(5,574)
Pay-variable interest rate swap agreement										Non-interest expense - other	—		$	(18)
Total											$	323	$	(81)

Income Tax	3 Months Ended
Income Tax	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Tax	Income Tax Income tax expense was $3.8 million and $2.9 million during the three month periods ended March 31, 2024 and 2023, respectively. Our actual federal income tax expense is different than the amount computed by applying our statutory income tax rate to our income before income tax primarily due to tax-exempt interest income and tax-exempt income from the increase in the cash surrender value on life insurance. In addition, the three month periods ending March 31, 2024 and 2023 include reductions of $0.11 million and $0.04 million, respectively, of income tax expense related to the impact of the excess value of stock awards that vested and stock options that were exercised as compared to the initial fair values that were expensed. We assess whether a valuation allowance should be established against our deferred tax assets based on the consideration of all available evidence using a “more likely than not” standard. The ultimate realization of this asset is primarily based on generating future income. We concluded at March 31, 2024, March 31, 2023 and December 31, 2023 that the realization of substantially all of our deferred tax assets continues to be more likely than not. At both March 31, 2024 and December 31, 2023, we had approximately $0.2 million, respectively, of gross unrecognized tax benefits. We do not expect the total amount of unrecognized tax benefits to significantly increase or decrease during the remainder of 2024.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Goodwill and Other Intangibles - Summary of Intangible Assets, Net of Amortization (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 11,916	$ 11,916
Accumulated Amortization	10,041	9,912
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	$ 28,300	$ 28,300

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Derivative Financial Instruments - Effect on the Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative loss recognized in OCI	$ (2,229)	$ (420)
Derivative loss reclassified from AOCI into income	(266)	(84)
Fair Value Hedging \| Interest Rate Cap, Noncommercial
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative loss recognized in OCI	38	(572)
Derivative loss reclassified from AOCI into income	(54)	(84)
Derivative, gain (loss) recognized in income	40	51
Fair Value Hedging \| Interest Rate Cap
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative loss recognized in OCI	38	(420)
Derivative loss reclassified from AOCI into income	(54)	(84)
Derivative, gain (loss) recognized in income	5,332	(3,229)
Fair Value Hedging \| Installment \| Interest Rate Cap
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative loss recognized in OCI	0	152
Derivative loss reclassified from AOCI into income	0	0
Derivative, gain (loss) recognized in income	$ 0	$ (14)
Fair Value Hedging \| Fixed Income Interest Rate \| Interest Rate Swap, Noncommercial
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Tax-exempt	Tax-exempt
Derivative, gain (loss) recognized in income	$ 1,548	$ (2,744)
Fair Value Hedging \| Fixed Income Interest Rate \| Commercial \| Interest Rate Swap
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest and fees on loans	Interest and fees on loans
Derivative, gain (loss) recognized in income	$ 79	$ (101)
Fair Value Hedging \| Fixed Income Interest Rate \| Installment \| Interest Rate Swap
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative, gain (loss) recognized in income	1,688	(421)
Fair Value Hedging \| Fixed Income Interest Rate \| Mortgage \| Interest Rate Swap
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative, gain (loss) recognized in income	2,002	0
Fair Value Hedging \| Variable Income Interest Rate \| Residential, FHLB Advance \| Interest Rate Swap
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative, gain (loss) recognized in income	(25)	0
Cash Flow Hedging \| Commercial \| Interest Rate Floor
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative loss recognized in OCI	(2,267)	0
Derivative loss reclassified from AOCI into income	(212)	0
Derivative, gain (loss) recognized in income	(212)	0
Derivatives not designated as hedging instruments
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative, gain (loss) recognized in income	$ 323	$ (81)
Derivatives not designated as hedging instruments \| Interest Rate Lock Commitments
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Mortgage loans	Mortgage loans
Derivative, gain (loss) recognized in income	$ 94	$ 683
Derivatives not designated as hedging instruments \| Mandatory Commitments to Sell Mortgage Loans
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Mortgage loans	Mortgage loans
Derivative, gain (loss) recognized in income	$ 229	$ (746)
Derivatives not designated as hedging instruments \| Fixed Income Interest Rate \| Commercial \| Interest Rate Swap
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest income	Interest income
Derivative, gain (loss) recognized in income	$ 5,970	$ 5,574
Derivatives not designated as hedging instruments \| Variable Income Interest Rate \| Interest Rate Swap
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative, gain (loss) recognized in income	$ 0	$ (18)
Derivatives not designated as hedging instruments \| Variable Income Interest Rate \| Commercial \| Interest Rate Swap
Effect of derivative financial instruments on the condensed consolidated financial statements of operations [Abstract]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest income	Interest income
Derivative, gain (loss) recognized in income	$ (5,970)	$ (5,574)

Fair Value Disclosures - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Asset Impairment Charges [Abstract]
Collateral dependent loans, carrying amount	$ 6.0		$ 2.0
Collateral dependent loans, valuation allowance	2.3		$ 1.3
Accounts receivable, credit loss expense (reversal)	$ 1.6	$ 0.3

Securities - Available for Sale, Gross Unrealized Losses and Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, fair values, less than 12 months	$ 7,103	$ 14,487
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, less than 12 months	54	445
Debt securities, available-for-sale, continuous unrealized loss position, fair values, 12 months or longer	594,011	652,697
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, 12 months or longer	63,368	64,719
Total, fair value	601,114	667,184
Total, unrealized losses	63,422	65,164
U.S. agency
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, fair values, less than 12 months	182	130
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, less than 12 months	0	0
Debt securities, available-for-sale, continuous unrealized loss position, fair values, 12 months or longer	7,981	8,453
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, 12 months or longer	848	797
Total, fair value	8,163	8,583
Total, unrealized losses	848	797
U.S. agency residential mortgage-backed
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, fair values, less than 12 months	0	358
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, less than 12 months	0	1
Debt securities, available-for-sale, continuous unrealized loss position, fair values, 12 months or longer	76,809	80,008
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, 12 months or longer	9,521	8,980
Total, fair value	76,809	80,366
Total, unrealized losses	9,521	8,981
U.S. agency commercial mortgage-backed
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, fair values, less than 12 months	0	0
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, less than 12 months	0	0
Debt securities, available-for-sale, continuous unrealized loss position, fair values, 12 months or longer	12,056	12,297
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, 12 months or longer	1,409	1,409
Total, fair value	12,056	12,297
Total, unrealized losses	1,409	1,409
Private label mortgage-backed
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, fair values, less than 12 months	3,480	6,285
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, less than 12 months	26	356
Debt securities, available-for-sale, continuous unrealized loss position, fair values, 12 months or longer	79,576	79,507
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, 12 months or longer	6,220	6,951
Total, fair value	83,056	85,792
Total, unrealized losses	6,246	7,307
Other asset backed
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, fair values, less than 12 months	3,441	7,714
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, less than 12 months	28	88
Debt securities, available-for-sale, continuous unrealized loss position, fair values, 12 months or longer	53,048	97,203
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, 12 months or longer	1,239	1,851
Total, fair value	56,489	104,917
Total, unrealized losses	1,267	1,939
Obligations of states and political subdivisions
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, fair values, less than 12 months	0	0
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, less than 12 months	0	0
Debt securities, available-for-sale, continuous unrealized loss position, fair values, 12 months or longer	293,216	301,038
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, 12 months or longer	38,417	38,644
Total, fair value	293,216	301,038
Total, unrealized losses	38,417	38,644
Corporate
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, fair values, less than 12 months	0	0
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, less than 12 months	0	0
Debt securities, available-for-sale, continuous unrealized loss position, fair values, 12 months or longer	70,383	73,249
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, 12 months or longer	5,673	6,046
Total, fair value	70,383	73,249
Total, unrealized losses	5,673	6,046
Trust preferred
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, fair values, less than 12 months	0	0
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, less than 12 months	0	0
Debt securities, available-for-sale, continuous unrealized loss position, fair values, 12 months or longer	942	942
Debt securities, available-for-sale, continuous unrealized loss position, gross unrealized losses, 12 months or longer	41	41
Total, fair value	942	942
Total, unrealized losses	$ 41	$ 41

New Accounting Standards	3 Months Ended
New Accounting Standards	Mar. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	New Accounting Standards In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, ‘‘Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting’’ and in December 2022 the FASB issued ASU 2022-06, "Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848". These new ASUs provide temporary optional expedients and exceptions to GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates. Entities can elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. Entities that make such elections would not have to remeasure contracts at the modification date or reassess a previous accounting determination. Entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. We had formed a cross-functional project team to lead the transition from LIBOR to a planned adoption of reference rates which included Secured Overnight Financing Rate (“SOFR”). We utilized the timeline guidance published by the Alternative Reference Rates Committee to develop and achieve internal milestones during the transitional period. We discontinued the use of new LIBOR-based loans as of December 31, 2021, according to regulatory guidelines. We also discontinued the use of new LIBOR based interest rate derivatives as of December 31, 2021. The amended guidance under Topic 848 and our ability to elect its temporary optional expedients and exceptions are effective for us through December 31, 2024. In March, 2023, the FASB issued ASU 2023-02, "Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force)". This ASU expands the use of the proportional amortization method of accounting — currently allowed only for investments in low-income housing tax credit ("LIHTC") structures — to equity investments in other tax credit structures that meet certain criteria. Common tax credit programs that investors access via tax equity structures and that may now be eligible for application of the proportional amortization method include: new markets tax credits, historic rehabilitation tax credit programs, and renewable energy tax credit programs. This ASU takes effect in reporting periods beginning after December 15, 2023, with early adoption permitted. The adoption of this ASU on January 1, 2024, did not have a material impact on our Condensed Consolidated Financial Statements. In November, 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 323): Improvements to Reportable Segment Disclosures". This ASU enhances disclosures of significant segment expenses by requiring entities to disclose significant segment expenses regularly provided to the chief operating decision maker, extend certain annual disclosures to interim periods, and permit more than one measure of segment profit or loss to be reported under certain conditions. This ASU takes effect for annual reporting periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We do not expect the adoption of this ASU to have a material impact on our Condensed Consolidated Financial Statements. In December, 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". This ASU modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). This ASU also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. This ASU takes effect in reporting periods beginning after December 15, 2024, with early adoption permitted. We do not expect the adoption of this ASU to have a material impact on our Condensed Consolidated Financial Statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Reclassifications, net of tax	$ 15,991	$ 12,991

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	May 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 31, 2024
Entity File Number	0-7818
Entity Registrant Name	INDEPENDENT BANK CORPORATION
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	38-2032782
Entity Address, Address Line One	4200 East Beltline
Entity Address, City or Town	Grand Rapids
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	49525
City Area Code	616
Local Phone Number	527-5820
Title of 12(b) Security	Common stock, no par value
Trading Symbol	IBCP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		20,902,444
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Entity Central Index Key	0000039311
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false

Loans - Receivables Past Due (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Non performing loans [Abstract]
Non- Accrual with no Allowance for Credit Loss	$ 1,439	$ 1,119
Non- Accrual with an Allowance for Credit Loss	2,251	3,681
Total Non- Accrual	3,690	4,800
90+ and Still Accruing	0	432
Accrued interest excluded from total	13,042	12,500
Financial Asset, Equal to or Greater than 90 Days Past Due
Non performing loans [Abstract]
Accrued interest excluded from total	0	0
Commercial and industrial
Non performing loans [Abstract]
Government guaranteed loans excluded from non-performing loans	19	21
1-4 family owner occupied - non-jumbo
Non performing loans [Abstract]
Government guaranteed loans excluded from non-performing loans	1,646	2,170
Commercial
Non performing loans [Abstract]
Accrued interest excluded from total	6,150	5,743
Commercial \| Commercial and industrial
Non performing loans [Abstract]
Non- Accrual with no Allowance for Credit Loss	0	0
Non- Accrual with an Allowance for Credit Loss	6	7
Total Non- Accrual	6	7
90+ and Still Accruing	0	0
Accrued interest excluded from total	3,199	2,710
Commercial \| Commercial real estate
Non performing loans [Abstract]
Non- Accrual with no Allowance for Credit Loss	0	0
Non- Accrual with an Allowance for Credit Loss	0	0
Total Non- Accrual	0	0
90+ and Still Accruing	0	0
Accrued interest excluded from total	2,951	3,033
Mortgage
Non performing loans [Abstract]
Accrued interest excluded from total	5,222	5,097
Mortgage \| 1-4 family owner occupied - jumbo
Non performing loans [Abstract]
Non- Accrual with no Allowance for Credit Loss	0	544
Non- Accrual with an Allowance for Credit Loss	0	0
Total Non- Accrual	0	544
90+ and Still Accruing	0	0
Accrued interest excluded from total	2,465	2,375
Mortgage \| 1-4 family owner occupied - non-jumbo
Non performing loans [Abstract]
Non- Accrual with no Allowance for Credit Loss	1,439	575
Non- Accrual with an Allowance for Credit Loss	779	1,655
Total Non- Accrual	2,218	2,230
90+ and Still Accruing	0	432
Accrued interest excluded from total	1,146	1,111
Mortgage \| 1-4 family non-owner occupied
Non performing loans [Abstract]
Non- Accrual with no Allowance for Credit Loss	0	0
Non- Accrual with an Allowance for Credit Loss	119	282
Total Non- Accrual	119	282
90+ and Still Accruing	0	0
Accrued interest excluded from total	655	654
Mortgage \| 1-4 family - 2nd lien
Non performing loans [Abstract]
Non- Accrual with no Allowance for Credit Loss	0	0
Non- Accrual with an Allowance for Credit Loss	444	624
Total Non- Accrual	444	624
90+ and Still Accruing	0	0
Accrued interest excluded from total	797	804
Mortgage \| Resort lending
Non performing loans [Abstract]
Non- Accrual with no Allowance for Credit Loss	0	0
Non- Accrual with an Allowance for Credit Loss	193	143
Total Non- Accrual	193	143
90+ and Still Accruing	0	0
Accrued interest excluded from total	159	153
Installment
Non performing loans [Abstract]
Accrued interest excluded from total	1,670	1,660
Installment \| Boat lending
Non performing loans [Abstract]
Non- Accrual with no Allowance for Credit Loss	0	0
Non- Accrual with an Allowance for Credit Loss	187	352
Total Non- Accrual	187	352
90+ and Still Accruing	0	0
Accrued interest excluded from total	727	714
Installment \| Recreational vehicle lending
Non performing loans [Abstract]
Non- Accrual with no Allowance for Credit Loss	0	0
Non- Accrual with an Allowance for Credit Loss	387	419
Total Non- Accrual	387	419
90+ and Still Accruing	0	0
Accrued interest excluded from total	651	655
Installment \| Other
Non performing loans [Abstract]
Non- Accrual with no Allowance for Credit Loss	0	0
Non- Accrual with an Allowance for Credit Loss	136	199
Total Non- Accrual	136	199
90+ and Still Accruing	0	0
Accrued interest excluded from total	292	291
Non-performing TDR's
Non performing loans [Abstract]
Total Non- Performing Loans	3,690	5,232
Accrued interest excluded from total	0	0
Non-performing TDR's \| Commercial \| Commercial and industrial
Non performing loans [Abstract]
Total Non- Performing Loans	6	7
Non-performing TDR's \| Commercial \| Commercial real estate
Non performing loans [Abstract]
Total Non- Performing Loans	0	0
Non-performing TDR's \| Mortgage \| 1-4 family owner occupied - jumbo
Non performing loans [Abstract]
Total Non- Performing Loans	0	544
Non-performing TDR's \| Mortgage \| 1-4 family owner occupied - non-jumbo
Non performing loans [Abstract]
Total Non- Performing Loans	2,218	2,662
Non-performing TDR's \| Mortgage \| 1-4 family non-owner occupied
Non performing loans [Abstract]
Total Non- Performing Loans	119	282
Non-performing TDR's \| Mortgage \| 1-4 family - 2nd lien
Non performing loans [Abstract]
Total Non- Performing Loans	444	624
Non-performing TDR's \| Mortgage \| Resort lending
Non performing loans [Abstract]
Total Non- Performing Loans	193	143
Non-performing TDR's \| Installment \| Boat lending
Non performing loans [Abstract]
Total Non- Performing Loans	187	352
Non-performing TDR's \| Installment \| Recreational vehicle lending
Non performing loans [Abstract]
Total Non- Performing Loans	387	419
Non-performing TDR's \| Installment \| Other
Non performing loans [Abstract]
Total Non- Performing Loans	$ 136	$ 199

Revenue from Contracts with Customers - Narrative (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) asset	Mar. 31, 2023 asset	Dec. 31, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Percentage of revenues excluded from ASC topic 606	89.00%	86.50%
Contract with customers, liability	$ 0		$ 0
Contract with customer, asset, after allowance for credit loss	$ 0		$ 0
Number of real estate assets sold during the period \| asset	0	0

Fair Value Disclosures - Changes in Fair Value for Financial Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings [Abstract]
Loans held for sale	$ 29	$ 1,597
Capitalized mortgage loan servicing rights	506	(1,496)
Mortgage Loans
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings [Abstract]
Loans held for sale	29	1,597
Mortgage Loan Servicing, net
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings [Abstract]
Capitalized mortgage loan servicing rights	$ 506	$ (1,496)

Accumulated Other Comprehensive Income (Loss) ("AOCIL") - Summary of Changes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Changes in AOCIL [Roll Forward]
Balances at beginning of period	$ 404,449	$ 347,596
Other comprehensive income (loss) before reclassifications	90	11,711
Amounts reclassified from AOCIL	423	241
Other comprehensive income	513	11,952
Balances at end of period	415,570	367,714
Accumulated Other Comprehensive Income (Loss)
Changes in AOCIL [Roll Forward]
Balances at beginning of period	(72,142)	(92,763)
Other comprehensive income	513	11,952
Balances at end of period	(71,629)	(80,811)
Unrealized Losses on Securities AFS
Changes in AOCIL [Roll Forward]
Balances at beginning of period	(51,113)	(68,742)
Other comprehensive income (loss) before reclassifications	1,203	11,370
Amounts reclassified from AOCIL	213	175
Other comprehensive income	1,416	11,545
Balances at end of period	(49,697)	(57,197)
Unrealized losses on securities transferred to securities HTM
Changes in AOCIL [Roll Forward]
Balances at beginning of period	(15,408)	(18,223)
Other comprehensive income (loss) before reclassifications	648	672
Amounts reclassified from AOCIL	0	0
Other comprehensive income	648	672
Balances at end of period	(14,760)	(17,551)
Dispropor- tionate Tax Effects from Securities AFS
Changes in AOCIL [Roll Forward]
Balances at beginning of period	(5,798)	(5,798)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from AOCIL	0	0
Other comprehensive income	0	0
Balances at end of period	(5,798)	(5,798)
Unrealized Gains (Losses) on Derivative Instruments
Changes in AOCIL [Roll Forward]
Balances at beginning of period	177	0
Other comprehensive income (loss) before reclassifications	(1,761)	(331)
Amounts reclassified from AOCIL	210	66
Other comprehensive income	(1,551)	(265)
Balances at end of period	$ (1,374)	$ (265)

Accumulated Other Comprehensive Income (Loss) ("AOCIL") - Reclassification Out of Each Components (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reclassifications out of AOCIL [Abstract]
Interest income	$ 65,126	$ 53,936
Income tax expense	3,830	2,884
Reclassifications, net of tax	15,991	12,991
Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of AOCIL [Abstract]
Reclassifications, net of tax	(423)	(241)
Unrealized Losses on Securities AFS \| Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of AOCIL [Abstract]
Net gains (losses) on securities available for sale	(269)	(222)
Income tax expense	(56)	(47)
Reclassifications, net of tax	(213)	(175)
Unrealized Gains (Losses) on Derivative Instruments \| Reclassification out of Accumulated Other Comprehensive Income
Reclassifications out of AOCIL [Abstract]
Interest income	266	84
Income tax expense	56	18
Reclassifications, net of tax	$ 210	$ 66

- Definition

Amount of realized gain (loss) on investment in debt and equity securities.

+ References + Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Loans - Loan Ratings by Loan Class, Commercial (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans	$ 3,839,965		$ 3,790,901
Accrued interest excluded from total	13,042		12,500
Current period gross charge-offs	812	$ 1,631
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	63,548		313,144
Financing receivable, year two, originated, fiscal year before current fiscal year	356,838		327,184
Financing receivable, year three, originated, two years before current fiscal year	331,841		203,020
Financing receivable, year four, originated, three years before current fiscal year	200,694		79,908
Financing receivable, year five, originated, four years before current fiscal year	147,980		127,798
Financing receivable, originated, more than five years before current fiscal year	334,364		282,057
Revolving Loans Amortized Cost Basis	300,019		346,620
Total loans	1,735,284		1,679,731
Accrued interest, current fiscal year	237		787
Accrued interest, fiscal year before current	940		1,123
Accrued interest, two years before current	1,163		563
Accrued interest, three years before current	542		201
Accrued interest, four years before current	594		467
Accrued interest, more than five years before current fiscal year	1,178		987
Accrued interest, revolving	1,496		1,615
Accrued interest excluded from total	6,150		5,743
Gross charge-offs, current fiscal year	0		0
Gross charge-offs, fiscal year before current	0		0
Gross charge-offs, two years before current	0		0
Gross charge-offs, three years before current	0		0
Gross charge-offs, four years before current	0		960
Gross charge-offs, more than five years before current	0		69
Gross charge-offs, revolving	0		25
Current period gross charge-offs	0	$ 960	1,054
Commercial \| Non-watch (1-6)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	63,548		313,048
Financing receivable, year two, originated, fiscal year before current fiscal year	354,458		321,945
Financing receivable, year three, originated, two years before current fiscal year	326,435		201,509
Financing receivable, year four, originated, three years before current fiscal year	197,129		77,328
Financing receivable, year five, originated, four years before current fiscal year	144,384		121,282
Financing receivable, originated, more than five years before current fiscal year	319,936		274,225
Revolving Loans Amortized Cost Basis	290,014		334,486
Total loans	1,695,904		1,643,823
Commercial \| Watch (7-8)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	0		96
Financing receivable, year two, originated, fiscal year before current fiscal year	2,380		5,239
Financing receivable, year three, originated, two years before current fiscal year	5,406		964
Financing receivable, year four, originated, three years before current fiscal year	2,731		2,580
Financing receivable, year five, originated, four years before current fiscal year	3,285		6,495
Financing receivable, originated, more than five years before current fiscal year	14,403		7,800
Revolving Loans Amortized Cost Basis	4,342		11,938
Total loans	32,547		35,112
Commercial \| Substandard Accrual (9)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	0		0
Financing receivable, year two, originated, fiscal year before current fiscal year	0		0
Financing receivable, year three, originated, two years before current fiscal year	0		547
Financing receivable, year four, originated, three years before current fiscal year	834		0
Financing receivable, year five, originated, four years before current fiscal year	311		21
Financing receivable, originated, more than five years before current fiscal year	0		4
Revolving Loans Amortized Cost Basis	5,663		196
Total loans	6,808		768
Commercial \| Non-Accrual (10-11)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	0		0
Financing receivable, year two, originated, fiscal year before current fiscal year	0		0
Financing receivable, year three, originated, two years before current fiscal year	0		0
Financing receivable, year four, originated, three years before current fiscal year	0		0
Financing receivable, year five, originated, four years before current fiscal year	0		0
Financing receivable, originated, more than five years before current fiscal year	25		28
Revolving Loans Amortized Cost Basis	0		0
Total loans	25		28
Commercial \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	42,708		110,568
Financing receivable, year two, originated, fiscal year before current fiscal year	132,550		157,954
Financing receivable, year three, originated, two years before current fiscal year	152,036		71,592
Financing receivable, year four, originated, three years before current fiscal year	80,168		50,224
Financing receivable, year five, originated, four years before current fiscal year	93,503		46,770
Financing receivable, originated, more than five years before current fiscal year	125,737		100,269
Revolving Loans Amortized Cost Basis	238,575		272,768
Total loans	865,277		810,145
Accrued interest, current fiscal year	159		239
Accrued interest, fiscal year before current	378		438
Accrued interest, two years before current	433		132
Accrued interest, three years before current	187		128
Accrued interest, four years before current	438		120
Accrued interest, more than five years before current fiscal year	392		326
Accrued interest, revolving	1,212		1,327
Accrued interest excluded from total	3,199		2,710
Gross charge-offs, current fiscal year	0		0
Gross charge-offs, fiscal year before current	0		0
Gross charge-offs, two years before current	0		0
Gross charge-offs, three years before current	0		0
Gross charge-offs, four years before current	0		0
Gross charge-offs, more than five years before current	0		69
Gross charge-offs, revolving	0		25
Current period gross charge-offs	0		94
Commercial \| Commercial and industrial \| Non-watch (1-6)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	42,708		110,472
Financing receivable, year two, originated, fiscal year before current fiscal year	130,170		152,715
Financing receivable, year three, originated, two years before current fiscal year	146,630		70,081
Financing receivable, year four, originated, three years before current fiscal year	76,745		47,644
Financing receivable, year five, originated, four years before current fiscal year	89,907		42,576
Financing receivable, originated, more than five years before current fiscal year	119,738		97,960
Revolving Loans Amortized Cost Basis	228,570		260,634
Total loans	834,468		782,082
Commercial \| Commercial and industrial \| Watch (7-8)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	0		96
Financing receivable, year two, originated, fiscal year before current fiscal year	2,380		5,239
Financing receivable, year three, originated, two years before current fiscal year	5,406		964
Financing receivable, year four, originated, three years before current fiscal year	2,589		2,580
Financing receivable, year five, originated, four years before current fiscal year	3,285		4,173
Financing receivable, originated, more than five years before current fiscal year	5,974		2,277
Revolving Loans Amortized Cost Basis	4,342		11,938
Total loans	23,976		27,267
Commercial \| Commercial and industrial \| Substandard Accrual (9)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	0		0
Financing receivable, year two, originated, fiscal year before current fiscal year	0		0
Financing receivable, year three, originated, two years before current fiscal year	0		547
Financing receivable, year four, originated, three years before current fiscal year	834		0
Financing receivable, year five, originated, four years before current fiscal year	311		21
Financing receivable, originated, more than five years before current fiscal year	0		4
Revolving Loans Amortized Cost Basis	5,663		196
Total loans	6,808		768
Commercial \| Commercial and industrial \| Non-Accrual (10-11)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	0		0
Financing receivable, year two, originated, fiscal year before current fiscal year	0		0
Financing receivable, year three, originated, two years before current fiscal year	0		0
Financing receivable, year four, originated, three years before current fiscal year	0		0
Financing receivable, year five, originated, four years before current fiscal year	0		0
Financing receivable, originated, more than five years before current fiscal year	25		28
Revolving Loans Amortized Cost Basis	0		0
Total loans	25		28
Commercial \| Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	20,840		202,576
Financing receivable, year two, originated, fiscal year before current fiscal year	224,288		169,230
Financing receivable, year three, originated, two years before current fiscal year	179,805		131,428
Financing receivable, year four, originated, three years before current fiscal year	120,526		29,684
Financing receivable, year five, originated, four years before current fiscal year	54,477		81,028
Financing receivable, originated, more than five years before current fiscal year	208,627		181,788
Revolving Loans Amortized Cost Basis	61,444		73,852
Total loans	870,007		869,586
Accrued interest, current fiscal year	78		548
Accrued interest, fiscal year before current	562		685
Accrued interest, two years before current	730		431
Accrued interest, three years before current	355		73
Accrued interest, four years before current	156		347
Accrued interest, more than five years before current fiscal year	786		661
Accrued interest, revolving	284		288
Accrued interest excluded from total	2,951		3,033
Gross charge-offs, current fiscal year	0		0
Gross charge-offs, fiscal year before current	0		0
Gross charge-offs, two years before current	0		0
Gross charge-offs, three years before current	0		0
Gross charge-offs, four years before current	0		960
Gross charge-offs, more than five years before current	0		0
Gross charge-offs, revolving	0		0
Current period gross charge-offs	0		960
Commercial \| Commercial real estate \| Non-watch (1-6)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	20,840		202,576
Financing receivable, year two, originated, fiscal year before current fiscal year	224,288		169,230
Financing receivable, year three, originated, two years before current fiscal year	179,805		131,428
Financing receivable, year four, originated, three years before current fiscal year	120,384		29,684
Financing receivable, year five, originated, four years before current fiscal year	54,477		78,706
Financing receivable, originated, more than five years before current fiscal year	200,198		176,265
Revolving Loans Amortized Cost Basis	61,444		73,852
Total loans	861,436		861,741
Commercial \| Commercial real estate \| Watch (7-8)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	0		0
Financing receivable, year two, originated, fiscal year before current fiscal year	0		0
Financing receivable, year three, originated, two years before current fiscal year	0		0
Financing receivable, year four, originated, three years before current fiscal year	142		0
Financing receivable, year five, originated, four years before current fiscal year	0		2,322
Financing receivable, originated, more than five years before current fiscal year	8,429		5,523
Revolving Loans Amortized Cost Basis	0		0
Total loans	8,571		7,845
Commercial \| Commercial real estate \| Substandard Accrual (9)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	0		0
Financing receivable, year two, originated, fiscal year before current fiscal year	0		0
Financing receivable, year three, originated, two years before current fiscal year	0		0
Financing receivable, year four, originated, three years before current fiscal year	0		0
Financing receivable, year five, originated, four years before current fiscal year	0		0
Financing receivable, originated, more than five years before current fiscal year	0		0
Revolving Loans Amortized Cost Basis	0		0
Total loans	0		0
Commercial \| Commercial real estate \| Non-Accrual (10-11)
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, year one, originated, current fiscal year	0		0
Financing receivable, year two, originated, fiscal year before current fiscal year	0		0
Financing receivable, year three, originated, two years before current fiscal year	0		0
Financing receivable, year four, originated, three years before current fiscal year	0		0
Financing receivable, year five, originated, four years before current fiscal year	0		0
Financing receivable, originated, more than five years before current fiscal year	0		0
Revolving Loans Amortized Cost Basis	0		0
Total loans	$ 0		$ 0

Loans - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 54,658	$ 52,435	$ 52,435
Additions (deductions)
Provision for credit losses	1,871	(832)
Recoveries credited to the allowance	596	578
Loans charged against the allowance	(812)	(1,631)
Balance at end of period	56,313	50,550	54,658
Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	16,724	13,817	13,817
Additions (deductions)
Provision for credit losses	2,194	648
Recoveries credited to the allowance	64	28
Loans charged against the allowance	0	(960)	(1,054)
Balance at end of period	18,982	13,533	16,724
Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	21,386	21,633	21,633
Additions (deductions)
Provision for credit losses	(366)	(1,574)
Recoveries credited to the allowance	82	84
Loans charged against the allowance	(199)	(30)	(154)
Balance at end of period	20,903	20,113	21,386
Installment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	4,126	4,290	4,290
Additions (deductions)
Provision for credit losses	(127)	(61)
Recoveries credited to the allowance	450	466
Loans charged against the allowance	(613)	(641)
Balance at end of period	3,836	4,054	4,126
Subjective Allocation
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	12,422	12,695	12,695
Additions (deductions)
Provision for credit losses	170	155
Recoveries credited to the allowance	0	0
Loans charged against the allowance	0	0
Balance at end of period	$ 12,592	$ 12,850	$ 12,422

Regulatory Matters - Narrative (Details) $ in Millions	Mar. 31, 2024 USD ($)	Dec. 31, 2023
Regulatory Matters [Abstract]
Undivided profits	$ 187.3
Capital conservation buffer	0.0250	0.0250

Securities - Held-to-Maturity, Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 157	$ 168
Provision for credit losses	(1,127)	2,992
Recoveries credited to the allowance	1,125	0
Securities HTM charged against the allowance	0	(3,000)
Balance at end of period	155	160
Private label mortgage-backed
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	4	1
Provision for credit losses	0	0
Recoveries credited to the allowance	0	0
Securities HTM charged against the allowance	0	0
Balance at end of period	4	1
Obligations of states and political subdivisions
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	33	39
Provision for credit losses	(2)	0
Recoveries credited to the allowance	0	0
Securities HTM charged against the allowance	0	0
Balance at end of period	31	39
Corporate
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	116	123
Provision for credit losses	(1,125)	2,993
Recoveries credited to the allowance	1,125	0
Securities HTM charged against the allowance	0	(3,000)
Balance at end of period	116	116
Trust preferred
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	4	5
Provision for credit losses	0	(1)
Recoveries credited to the allowance	0	0
Securities HTM charged against the allowance	0	0
Balance at end of period	$ 4	$ 4

Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

Assets and liabilities measured at fair value, including financial assets for which we have elected the fair value option, were as follows:


			Fair Value Measurements Using
	Fair Value Measure- ments		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Un- observable Inputs (Level 3)
	(In thousands)
March 31, 2024:
Measured at Fair Value on a Recurring Basis
Assets
Securities available for sale
U.S. agency	$	8,925	$	—	$	8,925	$	—
U.S. agency residential mortgage-backed	78,495		—		78,495		—
U.S. agency commercial mortgage-backed	12,055		—		12,055		—
Private label mortgage-backed	84,770		—		84,770		—
Other asset backed	64,833		—		64,833		—
Obligations of states and political subdivisions	293,216		—		293,216		—
Corporate	70,383		—		70,383		—
Trust preferred	943		—		943		—
Loans held for sale, carried at fair value	8,935		—		8,935		—
Capitalized mortgage loan servicing rights	43,577		—		—		43,577
Derivatives (1)	41,290		—		41,290		—
Liabilities
Derivatives (2)	19,344		—		19,344		—

Measured at Fair Value on a Non-recurring Basis:
Assets
Collateral dependent loans (3)
Commercial
Commercial and industrial	5,035		—		—		5,035

Mortgage
1-4 family owner occupied - non-jumbo	441		—		—		441

1-4 family - 2nd lien	85		—		—		85
Resort lending	125		—		—		125
Installment
Boat lending	75		—		—		75
Recreational vehicle lending	155		—		—		155
Other	36		—		—		36

________________________________

(1)Included in accrued income and other assets

(2)Included in accrued expenses and other liabilities

(3)Only includes individually evaluated loans with specific loss allocations based on collateral value.


			Fair Value Measurements Using
	Fair Value Measure- ments		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Un- observable Inputs (Level 3)
	(In thousands)
December 31, 2023:
Measured at Fair Value on a Recurring Basis
Assets
Securities available for sale
U.S. agency	$	9,507	$	—	$	9,507	$	—
U.S. agency residential mortgage-backed	81,217		—		81,217		—
U.S. agency commercial mortgage-backed	12,297		—		12,297		—
Private label mortgage-backed	86,469		—		86,469		—
Other asset backed	112,931		—		112,931		—
Obligations of states and political subdivisions	302,737		—		302,737		—
Corporate	73,250		—		73,250		—
Trust preferred	942		—		942		—
Loans held for sale, carried at fair value	12,063		—		12,063		—
Capitalized mortgage loan servicing rights	42,243		—		—		42,243
Derivatives (1)	38,683		—		38,683		—
Liabilities
Derivatives (2)	21,835		—		21,835		—

Measured at Fair Value on a Non-recurring Basis:
Assets
Loans held for sale, carried at the lower of cost or fair value	—		—		—		—
Collateral dependent loans (3)
Commercial
Commercial and industrial	551		—		—		551

Mortgage
1-4 family owner occupied - non-jumbo	732		—		—		732
1-4 family non-owner occupied	33		—		—		33
1-4 family - 2nd lien	157		—		—		157
Resort lending	92		—		—		92
Installment
Boat lending	192		—		—		192
Recreational vehicle lending	196		—		—		196
Other	66		—		—		66

_________________________________

(1)Included in accrued income and other assets

(2)Included in accrued expenses and other liabilities

(3)Only includes impaired loans with specific loss allocations based on collateral value.

Fair Value Option, Disclosures

Changes in fair values for financial assets which we have elected the fair value option for the periods presented were as follows:


	Changes in Fair Values for the Three Month Periods Ended March 31 for items Measured at Fair Value Pursuant to Election of the Fair Value Option
	Net Gains on Assets		Mortgage Loan Servicing, net		Total Change in Fair Values Included in Current Period Earnings
	Mortgage Loans
	(In thousands)
2024
Loans held for sale	$	29	$	—	$	29
Capitalized mortgage loan servicing rights	—		506		506

2023
Loans held for sale	1,597		—		1,597
Capitalized mortgage loan servicing rights	—		(1,496)		(1,496)

Reconciliation for all Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)

A reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) follows:


		Capitalized Mortgage Loan Servicing Rights
	Three Months Ended March 31,
		2024		2023
	(In thousands)
Beginning balance		$	42,243	$	42,489
Total gains (losses) realized and unrealized:
Included in results of operations		506		(1,496)
Included in other comprehensive loss		—		—
Purchases, issuances, settlements, maturities and calls		828		930
Transfers in and/or out of Level 3		—		—
Ending balance		$	43,577	$	41,923

Amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at March 31		$	506	$	(1,496)

Fair Value Measurement Inputs and Valuation Techniques (Level 3)

Quantitative information about our Level 3 fair value measurements measured on a recurring basis follows:


	Asset Fair Value		Valuation Technique	Unobservable Inputs	Range	Weighted Average
	(In thousands)
March 31, 2024
Capitalized mortgage loan servicing rights	$	43,577	Present value of net servicing revenue	Discount rate	9.98% to 16.32%	10.30		%
				Cost to service	$69 to $317	$	78
				Ancillary income	20 to 30	20
				Float rate		4.27		%
				Prepayment rate	6.55% to 27.27%	8.46		%
December 31, 2023
Capitalized mortgage loan servicing rights	$	42,243	Present value of net servicing revenue	Discount rate	10.00% to 14.27%	10.25		%
				Cost to service	$70 to $442	$	79
				Ancillary income	20 to 30	20
				Float rate		3.82		%
				Prepayment rate	6.56% to 26.47%	8.50%

Quantitative information about Level 3 fair value measurements measured on a non-recurring basis follows:

Asset
Fair
Value

Valuation
Technique

Unobservable
Inputs

Range

Weighted
Average

(In thousands)

March 31, 2024

Collateral dependent loans

Commercial(1)

5,035

Discounting financial statement and machinery and equipment appraised values

Discount rates used

28.0% to 50.0%

29.9

Sales comparison approach

Adjustment for differences between comparable sales

(18.0)% to 43.0%

(2.2)

Mortgage and Installment(2)

917

Sales comparison approach

Adjustment for differences between comparable sales

(12.7) to 33.3

1.8

December 31, 2023

Collateral dependent loans

Commercial

551

Sales comparison approach

Adjustment for differences between comparable sales

(5.0)% to 6.0%

(0.4)

Mortgage and Installment(2)

1,468

Sales comparison approach

Adjustment for differences between comparable sales

(4.1) to 10.5

3.1


(1)			$4.1 million of this amount primarily relates to one collateral dependent relationship credit. Collateral securing this relationship primarily included accounts receivable, inventory and machinery and equipment at March 31, 2024. Valuation techniques at March 31, 2024 included discounting financial statement values for accounts receivable and inventory and appraised values for machinery and equipment.
(2)			In addition to the valuation techniques and unobservable inputs discussed above, at March 31, 2024 and December 31, 2023 certain collateral dependent installment loans totaling approximately $0.27 million and $0.45 million, respectively, are secured by collateral other than real estate. For the majority of these loans, we apply internal discount rates to industry valuation guides.

Aggregate Fair Value and Aggregate Remaining Contractual Principal Balance for Loans Held for Sale


	Aggregate Fair Value		Difference		Contractual Principal
	(In thousands)
Loans held for sale
March 31, 2024	$	8,935	$	(32)	$	8,967
December 31, 2023	12,063		(61)		12,124

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and due from banks	$ 41,646	$ 68,208
Interest bearing deposits	120,198	101,573
Cash and Cash Equivalents	161,844	169,781
Securities available for sale	613,620	679,350
Securities held to maturity	349,957	353,988
Federal Home Loan Bank and Federal Reserve Bank stock, at cost	16,821	16,821
Loans held for sale, carried at fair value	8,935	12,063
Loans
Financing receivable, before allowance for credit loss	3,839,965	3,790,901
Allowance for credit losses	(56,313)	(54,658)
Net Loans	3,783,652	3,736,243
Other real estate and repossessed assets, net	1,059	569
Property and equipment, net	34,587	35,523
Bank-owned life insurance	53,633	54,341
Capitalized mortgage loan servicing rights, carried at fair value	43,577	42,243
Other intangibles	1,875	2,004
Goodwill	28,300	28,300
Accrued income and other assets	133,395	132,500
Total Assets	5,231,255	5,263,726
Deposits
Non-interest bearing	1,034,605	1,076,093
Savings and interest-bearing checking	1,935,451	1,905,701
Reciprocal	893,643	832,020
Time	570,130	524,325
Brokered time	148,585	284,740
Total Deposits	4,582,414	4,622,879
Other borrowings	49,977	50,026
Subordinated debt	39,529	39,510
Subordinated debentures	39,745	39,728
Accrued expenses and other liabilities	104,020	107,134
Total Liabilities	4,815,685	4,859,277
Commitments and contingent liabilities
Shareholders’ Equity
Preferred stock, no par value, 200,000 shares authorized; none issued or outstanding	0	0
Common stock, no par value, 500,000,000 shares authorized; issued and outstanding: 20,903,677 shares at March 31, 2024 and 20,835,633 shares at December 31, 2023	317,099	317,483
Retained earnings	170,100	159,108
Accumulated other comprehensive loss	(71,629)	(72,142)
Total Shareholders’ Equity	415,570	404,449
Total Liabilities and Shareholders’ Equity	5,231,255	5,263,726
Commercial
Loans
Financing receivable, before allowance for credit loss	1,735,284	1,679,731
Allowance for credit losses	(18,982)	(16,724)
Mortgage
Loans
Financing receivable, before allowance for credit loss	1,490,441	1,485,872
Allowance for credit losses	(20,903)	(21,386)
Installment
Loans
Financing receivable, before allowance for credit loss	614,240	625,298
Allowance for credit losses	$ (3,836)	$ (4,126)

Securities - Held to Maturity, Credit Quality (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	$ 349,957	$ 353,988
Private label mortgage-backed
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	7,313	7,302
Obligations of states and political subdivisions
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	159,010	161,352
Corporate
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	45,767	45,702
Trust preferred
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	949	948
AAA
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	43,461	43,931
AAA \| Private label mortgage-backed
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	7,313	7,302
AAA \| Obligations of states and political subdivisions
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	36,148	36,629
AAA \| Corporate
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
AAA \| Trust preferred
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
AA
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	102,612	102,583
AA \| Private label mortgage-backed
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
AA \| Obligations of states and political subdivisions
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	102,612	102,583
AA \| Corporate
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
AA \| Trust preferred
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
A
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	10,107	10,095
A \| Private label mortgage-backed
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
A \| Obligations of states and political subdivisions
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	3,177	3,172
A \| Corporate
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	6,930	6,923
A \| Trust preferred
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
BBB
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	34,813	34,769
BBB \| Private label mortgage-backed
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
BBB \| Obligations of states and political subdivisions
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	853	856
BBB \| Corporate
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	33,960	33,913
BBB \| Trust preferred
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
BB
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	1,948	1,943
BB \| Private label mortgage-backed
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
BB \| Obligations of states and political subdivisions
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
BB \| Corporate
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	1,948	1,943
BB \| Trust preferred
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
Non-rated
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	20,098	21,983
Non-rated \| Private label mortgage-backed
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	0	0
Non-rated \| Obligations of states and political subdivisions
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	16,220	18,112
Non-rated \| Corporate
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	2,929	2,923
Non-rated \| Trust preferred
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	949	948
Credit Rated and Non-rated Securities HTM
Debt Securities, Held-to-Maturity, Fair Value to Amortized Cost, after Allowance for Credit Loss [Abstract]
Carrying value	$ 213,039	$ 215,304

Fair Value Disclosures - Quantitative Information About Level 3 (Details)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Mortgage and Installment \| Collateral Other Than Real Estate
Asset Fair Value [Abstract]
Collateral dependent loans, fair value	$ 270,000	$ 450,000
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net
Asset Fair Value [Abstract]
Servicing asset, fair value	$ 43,577,000	$ 42,243,000
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Present value of net servicing revenue \| Float rate
Ranges and Weighted Average [Abstract]
Servicing asset
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Minimum \| Present value of net servicing revenue \| Discount rate
Ranges and Weighted Average [Abstract]
Servicing asset	0.0998	0.1000
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Minimum \| Present value of net servicing revenue \| Cost to service
Ranges and Weighted Average [Abstract]
Servicing asset	69	70
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Minimum \| Present value of net servicing revenue \| Ancillary income
Ranges and Weighted Average [Abstract]
Servicing asset	20	20
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Minimum \| Present value of net servicing revenue \| Prepayment rate
Ranges and Weighted Average [Abstract]
Servicing asset	0.0655	0.0656
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Maximum \| Present value of net servicing revenue \| Discount rate
Ranges and Weighted Average [Abstract]
Servicing asset	0.1632	0.1427
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Maximum \| Present value of net servicing revenue \| Cost to service
Ranges and Weighted Average [Abstract]
Servicing asset	317	442
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Maximum \| Present value of net servicing revenue \| Ancillary income
Ranges and Weighted Average [Abstract]
Servicing asset	30	30
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Maximum \| Present value of net servicing revenue \| Prepayment rate
Ranges and Weighted Average [Abstract]
Servicing asset	0.2727	0.2647
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Weighted Average \| Present value of net servicing revenue \| Discount rate
Ranges and Weighted Average [Abstract]
Servicing asset	0.1030	0.1025
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Weighted Average \| Present value of net servicing revenue \| Cost to service
Ranges and Weighted Average [Abstract]
Servicing asset	78	79
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Weighted Average \| Present value of net servicing revenue \| Ancillary income
Ranges and Weighted Average [Abstract]
Servicing asset	20	20
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Weighted Average \| Present value of net servicing revenue \| Float rate
Ranges and Weighted Average [Abstract]
Servicing asset	0.0427	0.0382
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Recurring Basis \| Mortgage Loan Servicing, net \| Weighted Average \| Present value of net servicing revenue \| Prepayment rate
Ranges and Weighted Average [Abstract]
Servicing asset	0.0846	0.0850
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Commercial
Asset Fair Value [Abstract]
Collateral dependent loans, fair value	$ 5,035,000	$ 551,000
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Commercial \| Accounts Receivable, Inventory and Machinery and Equipment
Asset Fair Value [Abstract]
Collateral dependent loans, fair value	$ 4,100,000
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Commercial \| Minimum \| Discounted cash flow \| Discount rate
Ranges and Weighted Average [Abstract]
Impaired loans	0.280
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Commercial \| Minimum \| Sales comparison approach \| Comparability adjustment
Ranges and Weighted Average [Abstract]
Impaired loans	(0.180)	(0.050)
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Commercial \| Maximum \| Discounted cash flow \| Discount rate
Ranges and Weighted Average [Abstract]
Impaired loans	0.500
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Commercial \| Maximum \| Sales comparison approach \| Comparability adjustment
Ranges and Weighted Average [Abstract]
Impaired loans	0.430	0.060
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Commercial \| Weighted Average \| Discounted cash flow \| Discount rate
Ranges and Weighted Average [Abstract]
Impaired loans	0.299
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Commercial \| Weighted Average \| Sales comparison approach \| Comparability adjustment
Ranges and Weighted Average [Abstract]
Impaired loans	(0.022)	(0.004)
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Mortgage and Installment
Asset Fair Value [Abstract]
Collateral dependent loans, fair value	$ 917,000	$ 1,468,000
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Mortgage and Installment \| Minimum \| Sales comparison approach \| Comparability adjustment
Ranges and Weighted Average [Abstract]
Impaired loans	(0.127)	(0.041)
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Mortgage and Installment \| Maximum \| Sales comparison approach \| Comparability adjustment
Ranges and Weighted Average [Abstract]
Impaired loans	0.333	0.105
Significant Un- observable Inputs (Level 3) \| Measured at Fair Value on a Non-recurring Basis: \| Mortgage and Installment \| Weighted Average \| Sales comparison approach \| Comparability adjustment
Ranges and Weighted Average [Abstract]
Impaired loans	0.018	0.031

Loans - Amortized Cost of Collateral-dependent Loans by Class (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	$ 3,839,965	$ 3,790,901
Allowance for Credit Losses	56,313	54,658	$ 50,550	$ 52,435
Accrued interest excluded from total	13,042	12,500
Real Estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	3,105	3,950
Accrued interest excluded from total	1	1
Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	6,586	934
Accrued interest excluded from total	43	0
Allowance for Credit Losses
Financing Receivable, Past Due [Line Items]
Allowance for Credit Losses	2,298	1,292
Commercial
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	1,735,284	1,679,731
Allowance for Credit Losses	18,982	16,724	13,533	13,817
Accrued interest excluded from total	6,150	5,743
Commercial \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	865,277	810,145
Accrued interest excluded from total	3,199	2,710
Commercial \| Commercial and industrial \| Real Estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	659	565
Commercial \| Commercial and industrial \| Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	6,175	232
Commercial \| Commercial and industrial \| Allowance for Credit Losses
Financing Receivable, Past Due [Line Items]
Allowance for Credit Losses	1,796	224
Commercial \| Commercial real estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	870,007	869,586
Accrued interest excluded from total	2,951	3,033
Commercial \| Commercial real estate \| Real Estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	0
Commercial \| Commercial real estate \| Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	0
Commercial \| Commercial real estate \| Allowance for Credit Losses
Financing Receivable, Past Due [Line Items]
Allowance for Credit Losses	0	0
Mortgage
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	1,490,441	1,485,872
Allowance for Credit Losses	20,903	21,386	20,113	21,633
Accrued interest excluded from total	5,222	5,097
Mortgage \| 1-4 family owner occupied - jumbo
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	860,776	859,236
Accrued interest excluded from total	2,465	2,375
Mortgage \| 1-4 family owner occupied - jumbo \| Real Estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	544
Mortgage \| 1-4 family owner occupied - jumbo \| Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	0
Mortgage \| 1-4 family owner occupied - jumbo \| Allowance for Credit Losses
Financing Receivable, Past Due [Line Items]
Allowance for Credit Losses	0	0
Mortgage \| 1-4 family owner occupied - non-jumbo
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	305,330	301,172
Accrued interest excluded from total	1,146	1,111
Mortgage \| 1-4 family owner occupied - non-jumbo \| Real Estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	2,122	2,243
Mortgage \| 1-4 family owner occupied - non-jumbo \| Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	0
Mortgage \| 1-4 family owner occupied - non-jumbo \| Allowance for Credit Losses
Financing Receivable, Past Due [Line Items]
Allowance for Credit Losses	243	504
Mortgage \| 1-4 family non-owner occupied
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	173,099	173,816
Accrued interest excluded from total	655	654
Mortgage \| 1-4 family non-owner occupied \| Real Estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	211
Mortgage \| 1-4 family non-owner occupied \| Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	0
Mortgage \| 1-4 family non-owner occupied \| Allowance for Credit Losses
Financing Receivable, Past Due [Line Items]
Allowance for Credit Losses	0	178
Mortgage \| 1-4 family - 2nd lien
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	117,402	116,032
Accrued interest excluded from total	797	804
Mortgage \| 1-4 family - 2nd lien \| Real Estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	131	244
Mortgage \| 1-4 family - 2nd lien \| Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	0
Mortgage \| 1-4 family - 2nd lien \| Allowance for Credit Losses
Financing Receivable, Past Due [Line Items]
Allowance for Credit Losses	46	87
Mortgage \| Resort lending
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	33,834	35,616
Accrued interest excluded from total	159	153
Mortgage \| Resort lending \| Real Estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	193	143
Mortgage \| Resort lending \| Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	0
Mortgage \| Resort lending \| Allowance for Credit Losses
Financing Receivable, Past Due [Line Items]
Allowance for Credit Losses	68	51
Installment
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	614,240	625,298
Allowance for Credit Losses	3,836	4,126	$ 4,054	$ 4,290
Accrued interest excluded from total	1,670	1,660
Installment \| Boat lending
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	267,605	268,648
Accrued interest excluded from total	727	714
Installment \| Boat lending \| Real Estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	0
Installment \| Boat lending \| Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	116	297
Installment \| Boat lending \| Allowance for Credit Losses
Financing Receivable, Past Due [Line Items]
Allowance for Credit Losses	41	105
Installment \| Recreational vehicle lending
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	245,897	251,852
Accrued interest excluded from total	651	655
Installment \| Recreational vehicle lending \| Real Estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	0
Installment \| Recreational vehicle lending \| Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	240	303
Installment \| Recreational vehicle lending \| Allowance for Credit Losses
Financing Receivable, Past Due [Line Items]
Allowance for Credit Losses	85	107
Installment \| Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	100,738	104,798
Accrued interest excluded from total	292	291
Installment \| Other \| Real Estate
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	0	0
Installment \| Other \| Other
Financing Receivable, Past Due [Line Items]
Financing receivable, before allowance for credit loss	55	102
Installment \| Other \| Allowance for Credit Losses
Financing Receivable, Past Due [Line Items]
Allowance for Credit Losses	$ 19	$ 36

Loans - Aging Analysis of Loans by Class (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	$ 3,839,965	$ 3,790,901
Accrued interest excluded from total	13,042	12,500
Financial asset, past due, total
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	10,230	7,512
Accrued interest excluded from total	84	48
Financial Asset, 30 to 59 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	7,348	3,266
Accrued interest excluded from total	70	31
Financial Asset, 60 to 89 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	1,563	1,132
Accrued interest excluded from total	14	17
Financial Asset, Equal to or Greater than 90 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	1,319	3,114
Accrued interest excluded from total	0	0
Financial Asset, Not Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	3,829,735	3,783,389
Accrued interest excluded from total	12,958	12,452
Commercial
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	1,735,284	1,679,731
Accrued interest excluded from total	6,150	5,743
Commercial \| Commercial and industrial
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	865,277	810,145
Accrued interest excluded from total	3,199	2,710
Commercial \| Commercial and industrial \| Financial asset, past due, total
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	25	28
Commercial \| Commercial and industrial \| Financial Asset, 30 to 59 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	0	0
Commercial \| Commercial and industrial \| Financial Asset, 60 to 89 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	0	0
Commercial \| Commercial and industrial \| Financial Asset, Equal to or Greater than 90 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	25	28
Commercial \| Commercial and industrial \| Financial Asset, Not Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	865,252	810,117
Commercial \| Commercial real estate
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	870,007	869,586
Accrued interest excluded from total	2,951	3,033
Commercial \| Commercial real estate \| Financial asset, past due, total
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	2,115	0
Commercial \| Commercial real estate \| Financial Asset, 30 to 59 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	2,115	0
Commercial \| Commercial real estate \| Financial Asset, 60 to 89 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	0	0
Commercial \| Commercial real estate \| Financial Asset, Equal to or Greater than 90 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	0	0
Commercial \| Commercial real estate \| Financial Asset, Not Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	867,892	869,586
Mortgage
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	1,490,441	1,485,872
Accrued interest excluded from total	5,222	5,097
Mortgage \| 1-4 family owner occupied - jumbo
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	860,776	859,236
Accrued interest excluded from total	2,465	2,375
Mortgage \| 1-4 family owner occupied - jumbo \| Financial asset, past due, total
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	670	544
Mortgage \| 1-4 family owner occupied - jumbo \| Financial Asset, 30 to 59 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	670	0
Mortgage \| 1-4 family owner occupied - jumbo \| Financial Asset, 60 to 89 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	0	0
Mortgage \| 1-4 family owner occupied - jumbo \| Financial Asset, Equal to or Greater than 90 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	0	544
Mortgage \| 1-4 family owner occupied - jumbo \| Financial Asset, Not Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	860,106	858,692
Mortgage \| 1-4 family owner occupied - non-jumbo
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	305,330	301,172
Accrued interest excluded from total	1,146	1,111
Mortgage \| 1-4 family owner occupied - non-jumbo \| Financial asset, past due, total
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	4,315	3,936
Mortgage \| 1-4 family owner occupied - non-jumbo \| Financial Asset, 30 to 59 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	2,613	1,763
Mortgage \| 1-4 family owner occupied - non-jumbo \| Financial Asset, 60 to 89 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	1,039	742
Mortgage \| 1-4 family owner occupied - non-jumbo \| Financial Asset, Equal to or Greater than 90 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	663	1,431
Mortgage \| 1-4 family owner occupied - non-jumbo \| Financial Asset, Not Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	301,015	297,236
Mortgage \| 1-4 family non-owner occupied
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	173,099	173,816
Accrued interest excluded from total	655	654
Mortgage \| 1-4 family non-owner occupied \| Financial asset, past due, total
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	165	437
Mortgage \| 1-4 family non-owner occupied \| Financial Asset, 30 to 59 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	165	215
Mortgage \| 1-4 family non-owner occupied \| Financial Asset, 60 to 89 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	0	64
Mortgage \| 1-4 family non-owner occupied \| Financial Asset, Equal to or Greater than 90 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	0	158
Mortgage \| 1-4 family non-owner occupied \| Financial Asset, Not Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	172,934	173,379
Mortgage \| 1-4 family - 2nd lien
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	117,402	116,032
Accrued interest excluded from total	797	804
Mortgage \| 1-4 family - 2nd lien \| Financial asset, past due, total
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	1,017	595
Mortgage \| 1-4 family - 2nd lien \| Financial Asset, 30 to 59 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	811	241
Mortgage \| 1-4 family - 2nd lien \| Financial Asset, 60 to 89 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	113	139
Mortgage \| 1-4 family - 2nd lien \| Financial Asset, Equal to or Greater than 90 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	93	215
Mortgage \| 1-4 family - 2nd lien \| Financial Asset, Not Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	116,385	115,437
Mortgage \| Resort lending
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	33,834	35,616
Accrued interest excluded from total	159	153
Mortgage \| Resort lending \| Financial asset, past due, total
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	193	193
Mortgage \| Resort lending \| Financial Asset, 30 to 59 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	0	0
Mortgage \| Resort lending \| Financial Asset, 60 to 89 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	0	50
Mortgage \| Resort lending \| Financial Asset, Equal to or Greater than 90 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	193	143
Mortgage \| Resort lending \| Financial Asset, Not Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	33,641	35,423
Installment
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	614,240	625,298
Accrued interest excluded from total	1,670	1,660
Installment \| Boat lending
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	267,605	268,648
Accrued interest excluded from total	727	714
Installment \| Boat lending \| Financial asset, past due, total
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	259	597
Installment \| Boat lending \| Financial Asset, 30 to 59 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	77	320
Installment \| Boat lending \| Financial Asset, 60 to 89 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	66	16
Installment \| Boat lending \| Financial Asset, Equal to or Greater than 90 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	116	261
Installment \| Boat lending \| Financial Asset, Not Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	267,346	268,051
Installment \| Recreational vehicle lending
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	245,897	251,852
Accrued interest excluded from total	651	655
Installment \| Recreational vehicle lending \| Financial asset, past due, total
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	1,095	729
Installment \| Recreational vehicle lending \| Financial Asset, 30 to 59 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	658	414
Installment \| Recreational vehicle lending \| Financial Asset, 60 to 89 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	250	35
Installment \| Recreational vehicle lending \| Financial Asset, Equal to or Greater than 90 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	187	280
Installment \| Recreational vehicle lending \| Financial Asset, Not Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	244,802	251,123
Installment \| Other
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	100,738	104,798
Accrued interest excluded from total	292	291
Installment \| Other \| Financial asset, past due, total
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	376	453
Installment \| Other \| Financial Asset, 30 to 59 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	239	313
Installment \| Other \| Financial Asset, 60 to 89 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	95	86
Installment \| Other \| Financial Asset, Equal to or Greater than 90 Days Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	42	54
Installment \| Other \| Financial Asset, Not Past Due
Aging analysis of loans by class [Abstract]
Financing receivable, before allowance for credit loss	$ 100,362	$ 104,345