MID PENN BANCORP INC, 10-Q filed on 8/7/2024
Quarterly Report
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Cover - shares
 6 Months Ended
Jun. 30, 2024
Jul. 31, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2024  
Document Transition Report false  
Entity File Number 1-13677  
Entity Registrant Name MID PENN BANCORP, INC.  
Entity Incorporation, State or Country Code PA  
Entity Tax Identification Number 25-1666413  
Entity Address, Address Line One 2407 Park Drive  
Entity Address, City or Town Harrisburg  
Entity Address, State or Province PA  
Entity Address, Postal Zip Code 17110  
City Area Code 1.866  
Local Phone Number 642.7736  
Title of 12(b) Security Common Stock, $1.00 par value per share  
Trading Symbol MPB  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Accelerated Filer  
Entity Emerging Growth Company false  
Entity Small Business false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   16,696,416
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0000879635  
Amendment Flag false  
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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 36,948 $ 45,435
Interest-bearing balances with other financial institutions 25,585 34,668
Federal funds sold 43,193 16,660
Total cash and cash equivalents 105,726 96,763
Investment securities:    
HTM, at amortized cost (fair value $347,275 and $357,521) 393,320 399,128
AFS, at fair value 207,936 223,555
Equity securities available for sale, at fair value 427 438
Loans held for sale, at fair value 8,420 3,855
Loans, net of unearned interest 4,364,561 4,252,792
Less: ACL - Loans (35,288) (34,187)
Net loans 4,329,273 4,218,605
Premises and equipment, net 34,344 36,909
Operating lease right of use asset 7,925 8,953
Finance lease right of use asset 2,638 2,727
Cash surrender value of life insurance 53,298 54,497
Restricted investment in bank stocks 13,930 16,768
Accrued interest receivable 27,381 25,820
Deferred income taxes 24,520 24,146
Goodwill 127,031 127,031
Core deposit and other intangibles, net 5,626 6,479
Foreclosed assets held for sale 441 293
Other assets 49,513 44,825
Total Assets 5,391,749 5,290,792
Deposits:    
Noninterest-bearing demand 766,014 801,312
Interest-bearing transaction accounts 2,194,948 2,086,450
Time 1,536,049 1,458,450
Total Deposits 4,497,011 4,346,212
Short-term borrowings 200,000 241,532
Long-term debt 23,827 59,003
Subordinated debt 46,047 46,354
Operating lease liability 8,344 9,285
Accrued interest payable 18,139 14,257
Other liabilities 38,695 31,799
Total Liabilities 4,832,063 4,748,442
Shareholders' Equity:    
Common stock, par value $1.00 per share; 40,000,000 shares authorized at June 30, 2024 and December 31, 2023; 17,051,236 issued at June 30, 2024 and 16,998,929 at December 31, 2023; 16,580,595 outstanding at June 30, 2024 and 16,573,707 at December 31, 2023 17,051 16,999
Additional paid-in capital 406,544 405,725
Retained earnings 163,256 145,982
Accumulated other comprehensive loss (17,123) (16,637)
Treasury stock, at cost; 440,722 shares at June 30, 2024 and 425,222 shares at December 31, 2023 (10,042) (9,719)
Total Shareholders’ Equity 559,686 542,350
Total Liabilities and Shareholders' Equity $ 5,391,749 $ 5,290,792
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Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Held-to-maturity investment securities $ 347,275 $ 357,521
Common stock, par value (in dollars per share) $ 1.00 $ 1.00
Common stock, authorized (in shares) 40,000,000 40,000,000
Common stock, issued (in shares) 17,051,236 16,998,929
Common stock, outstanding (in shares) 16,580,595 16,573,707
Treasury stock (in shares) 440,722 425,222
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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
INTEREST INCOME        
Loans, including fees $ 66,096 $ 52,094 $ 129,332 $ 97,959
Investment securities:        
Taxable 4,143 3,962 8,183 7,836
Tax-exempt 371 391 747 780
Other interest-bearing balances 347 83 750 136
Federal funds sold 282 49 418 94
Total Interest Income 71,239 56,579 139,430 106,805
INTEREST EXPENSE        
Deposits 28,463 17,927 54,795 29,928
Short-term borrowings 3,324 1,507 7,770 2,997
Long-term and subordinated debt 686 701 1,643 1,387
Total Interest Expense 32,473 20,135 64,208 34,312
Net Interest Income 38,766 36,444 75,222 72,493
Provision for credit losses - loans 1,782 1,157 1,163 1,647
(Benefit)/Provision for credit losses - CCL (178) 401 (496) 629
Net provision for credit losses 1,604 1,558 667 2,276
Net Interest Income After Provision for Credit Losses 37,162 34,886 74,555 70,217
NONINTEREST INCOME        
Net gain on sales of SBA loans 74 128 181 128
Earnings from cash surrender value of life insurance 301 292 585 546
Other 1,685 1,669 4,121 2,609
Total Noninterest Income 5,329 5,220 11,166 9,545
NONINTEREST EXPENSE        
Salaries and employee benefits 15,533 15,027 30,995 28,871
Software licensing and utilization 2,208 2,070 4,328 4,016
Occupancy, net 1,861 1,750 3,843 3,636
Equipment 1,287 1,248 2,509 2,499
Shares tax 124 751 1,121 1,650
Legal and professional fees 689 602 1,687 1,402
ATM/card processing 510 532 1,044 1,025
Intangible amortization 425 461 853 805
FDIC Assessment 1,232 684 2,177 1,024
Loss (Gain) on sale of foreclosed assets, net 42 (126) 42 (126)
Merger and acquisition 0 4,992 0 5,216
Post-acquisition restructuring 0 2,952 0 2,952
Other 4,313 4,185 8,145 8,000
Total Noninterest Expense 28,224 35,128 56,744 60,970
INCOME BEFORE PROVISION FOR INCOME TAXES 14,267 4,978 28,977 18,792
Provision for income taxes 2,496 142 5,073 2,729
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 11,771 $ 4,836 $ 23,904 $ 16,063
PER COMMON SHARE DATA:        
Basic Earnings Per Common Share (in dollars per share) $ 0.71 $ 0.29 $ 1.44 $ 1.00
Diluted Earnings Per Common Share (in dollars per share) $ 0.71 $ 0.29 $ 1.44 $ 1.00
Weighted-average basic shares outstanding (in shares) 16,576,283 16,233,473 16,572,102 16,060,789
Weighted-average diluted shares outstanding (in shares) 16,605,353 16,255,278 16,608,863 16,096,270
Fiduciary and wealth management        
NONINTEREST INCOME        
Non-interest Income $ 1,129 $ 1,204 $ 2,261 $ 2,440
ATM debit card interchange        
NONINTEREST INCOME        
Non-interest Income 973 998 1,918 2,054
Service charges on deposits        
NONINTEREST INCOME        
Non-interest Income 539 514 1,048 949
Mortgage banking        
NONINTEREST INCOME        
Non-interest Income 628 287 1,052 671
Mortgage hedging        
NONINTEREST INCOME        
Non-interest Income $ 0 $ 128 $ 0 $ 148
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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 11,771 $ 4,836 $ 23,904 $ 16,063
Other comprehensive (loss)/income:        
Unrealized losses arising during the period on available for sale securities, net of income tax benefit [1] (201) (3,261) (1,912) (1,284)
Unrealized holding gains arising during the period on interest rate derivatives used in cash flow hedges, net of income tax cost [1] 28 2,837 1,438 2,709
Change in defined benefit plans, net of income tax benefit (cost) [1],[2] (3) (7) 5 (2)
Reclassification adjustment for settlement gains and activity related to benefit plans, net of income tax benefit [1],[3] 0 0 (17) (12)
Total other comprehensive (loss)/income (176) (431) (486) 1,411
Total comprehensive income $ 11,595 $ 4,405 $ 23,418 $ 17,474
[1] The income tax impacts of the components of other comprehensive income are calculated using a 21% statutory tax rate.
[2] The change in defined benefit plans consists primarily of unrecognized actuarial (losses)/gains on defined benefit plans during the period.
[3] The reclassification adjustment for benefit plans includes settlement gains, amortization of prior service costs, and amortization of net gain or loss. Amounts are included in other income on the Consolidated Statements of Income within total noninterest income.
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Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]        
Unrealized gains (losses) arising during period on available for sale securities, income tax (cost) benefit $ 53 $ 867 $ 508 $ 341
Unrealized holding losses arising during the period on interest rate derivatives used in cash flow hedges, income tax benefit (7) (754) (382) (720)
Change in defined benefit plans, expense (benefit) 1 1 (1) 0
Reclassification adjustment for settlement losses and other activity related to benefit plans, benefit (expense) $ 0 $ 0 $ 5 $ 3
v3.24.2.u1
Consolidated Statements of Changes In Shareholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
 [1]
Common Stock
Additional Paid-in Capital
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
 [1]
Accumulated Other Comprehensive (Loss) Income
Treasury Stock
Balance (in shares) at Dec. 31, 2022     16,094,486          
Balance, beginning at Dec. 31, 2022 $ 512,099 $ (11,548) $ 16,094 $ 386,987 $ 133,114 $ (11,548) $ (19,216) $ (4,880)
Net income 11,227       11,227      
Total other comprehensive income (loss), net of taxes 1,842           1,842  
Common stock cash dividends declared - $0.20 per share (3,176)       (3,176)      
Employee Stock Purchase Plan (in shares)     2,217          
Employee Stock Purchase Plan 57   $ 2 55        
Director Stock Purchase Plan (in shares)     1,651          
Director Stock Purchase Plan 43   $ 2 41        
Restricted stock activity 249     249        
Balance (in shares) at Mar. 31, 2023     16,098,354          
Balance, ending at Mar. 31, 2023 510,793   $ 16,098 387,332 129,617   (17,374) (4,880)
Balance (in shares) at Dec. 31, 2022     16,094,486          
Balance, beginning at Dec. 31, 2022 512,099 $ (11,548) $ 16,094 386,987 133,114 $ (11,548) (19,216) (4,880)
Net income 16,063              
Total other comprehensive income (loss), net of taxes 1,411              
Balance (in shares) at Jun. 30, 2023     16,980,300          
Balance, ending at Jun. 30, 2023 525,888   $ 16,980 404,902 131,271   (17,805) (9,460)
Balance (in shares) at Mar. 31, 2023     16,098,354          
Balance, beginning at Mar. 31, 2023 510,793   $ 16,098 387,332 129,617   (17,374) (4,880)
Net income 4,836       4,836      
Total other comprehensive income (loss), net of taxes (431)           (431)  
Common stock cash dividends declared - $0.20 per share (3,182)       (3,182)      
Common stock issued to Brunswick shareholders (in shares) [2]     849,510          
Common stock issued to Brunswick shareholders [2] 18,095   $ 850 17,245        
Repurchased stock (4,580)             (4,580)
Employee Stock Purchase Plan (in shares)     2,258          
Employee Stock Purchase Plan 50   $ 2 48        
Director Stock Purchase Plan (in shares)     2,511          
Director Stock Purchase Plan 56   $ 3 53        
Restricted stock activity (in shares)     27,667          
Restricted stock activity 251   $ 27 224        
Balance (in shares) at Jun. 30, 2023     16,980,300          
Balance, ending at Jun. 30, 2023 525,888   $ 16,980 404,902 131,271   (17,805) (9,460)
Balance (in shares) at Dec. 31, 2023     16,998,929          
Balance, beginning at Dec. 31, 2023 542,350   $ 16,999 405,725 145,982   (16,637) (9,719)
Net income 12,133       12,133      
Total other comprehensive income (loss), net of taxes (310)           (310)  
Common stock cash dividends declared - $0.20 per share (3,314)       (3,314)      
Repurchased stock (323)             (323)
Employee Stock Purchase Plan (in shares)     5,653          
Employee Stock Purchase Plan 112   $ 5 107        
Director Stock Purchase Plan (in shares)     1,777          
Director Stock Purchase Plan 36   $ 2 34        
Restricted stock activity 284     284        
Balance (in shares) at Mar. 31, 2024     17,006,359          
Balance, ending at Mar. 31, 2024 550,968   $ 17,006 406,150 154,801   (16,947) (10,042)
Balance (in shares) at Dec. 31, 2023     16,998,929          
Balance, beginning at Dec. 31, 2023 542,350   $ 16,999 405,725 145,982   (16,637) (9,719)
Net income 23,904              
Total other comprehensive income (loss), net of taxes (486)              
Common stock issued to Brunswick shareholders 776              
Balance (in shares) at Jun. 30, 2024     17,051,236          
Balance, ending at Jun. 30, 2024 559,686   $ 17,051 406,544 163,256   (17,123) (10,042)
Balance (in shares) at Mar. 31, 2024     17,006,359          
Balance, beginning at Mar. 31, 2024 550,968   $ 17,006 406,150 154,801   (16,947) (10,042)
Net income 11,771       11,771      
Total other comprehensive income (loss), net of taxes (176)           (176)  
Common stock cash dividends declared - $0.20 per share (3,316)       (3,316)      
Employee Stock Purchase Plan (in shares)     5,123          
Employee Stock Purchase Plan 103   $ 5 98        
Director Stock Purchase Plan (in shares)     1,389          
Director Stock Purchase Plan 30   $ 1 29        
Restricted stock activity (in shares)     38,365          
Restricted stock activity 306   $ 39 267        
Balance (in shares) at Jun. 30, 2024     17,051,236          
Balance, ending at Jun. 30, 2024 $ 559,686   $ 17,051 $ 406,544 $ 163,256   $ (17,123) $ (10,042)
[1] The Corporation adopted ASU 2016-13 "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" effective January 1, 2023. See "Note 1 - Summary of Significant Accounting Policies" for further details.
[2] Shares issued on May 19, 2023 as a result of the Brunswick Acquisition. See "Note 2 - Business Combinations" to the Consolidated Financial Statements for more information.
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Consolidated Statements of Changes In Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares
 3 Months Ended 12 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]          
Common stock cash dividends declared (in dollars per share) $ 0.20 $ 0.20 $ 0.20 $ 0.20  
Accounting Standards Update [Extensible Enumeration]         Accounting Standards Update 2016-13 [Member]
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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities:    
Net Income $ 23,904 $ 16,063
Adjustments to reconcile net income to net cash provided by operating activities:    
(Benefit)/Provision for credit losses - CCL 667 2,276
Depreciation 2,433 2,393
Amortization of intangibles 853 805
Net amortization of security discounts/premiums 201 247
Noncash operating lease expense 1,028 1,028
Amortization of finance lease right of use asset 89 90
Earnings on cash surrender value of life insurance (585) (546)
Mortgage loans originated for sale (50,023) (53,679)
Proceeds from sales of mortgage loans originated for sale 46,510 49,567
Gain on sale of mortgage loans (1,052) (671)
SBA loans originated for sale (2,437) (2,080)
Proceeds from sales of SBA loans originated for sale 2,618 2,208
Gain on sale of SBA loans (181) (128)
Gain on sale of property, plant, and equipment (43) (59)
Loss/(Gain) on sale or write-down of foreclosed assets 42 (126)
Accretion of subordinated debt (307) (293)
Stock compensation expense 590 500
Change in deferred income tax benefit (178) (1,148)
Increase accrued interest receivable (1,561) (50)
Decrease (Increase) in other assets (2,263) 490
Increase in accrued interest payable 3,882 6,901
Decrease in operating lease liability (941) (1,167)
Increase in other liabilities 7,196 1,879
Net Cash Provided By Operating Activities 30,442 24,500
Investing Activities:    
Proceeds from the sale of available-for-sale securities 0 1,751
Proceeds from the maturity or call of available-for-sale securities 13,164 7,927
Proceeds from the maturity or call of held-to-maturity securities 5,642 4,968
Stock dividends of FHLB and other bank stock 682 289
Reduction (Purchases) of restricted investment in bank stock 2,156 (3,620)
Net cash received from acquisition 0 1,068
Net increase in loans (111,525) (207,306)
Purchases of bank premises and equipment (646) (1,837)
Proceeds from the sale of premises and equipment 821 59
Proceeds from the sale of foreclosed assets 0 374
Proceeds from bank-owned life insurance 1,784 774
Gain on bank-owned life insurance 0 (125)
Net change in investments in tax credits and other partnerships (976) (4,854)
Net Cash Used in Investing Activities (88,898) (200,532)
Financing Activities:    
Net increase in deposits 150,799 225,736
Proceeds from long-term debt 0 25,000
Common stock dividends paid (6,630) (6,358)
Proceeds from Employee and Director Stock Purchase Plan stock issuance 281 206
Treasury stock purchased (323) (4,580)
Net change in finance lease liability (63) (46)
Net change in short-term borrowings (41,532) 9,795
Long-term debt repayment (35,113) (30,727)
Subordinated debt redemption and trust preferred securities 0 (10,000)
Net Cash Provided by Financing Activities 67,419 209,026
Net increase in cash and cash equivalents 8,963 32,994
Cash and cash equivalents, beginning of period 96,763 60,881
Cash and cash equivalents, end of period 105,726 93,875
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 60,326 25,500
Cash paid for income taxes 0 3,970
Supplemental Noncash Disclosures:    
Recognition of operating lease right of use assets 0 1,336
Recognition of operating lease liabilities 0 1,336
Loans transferred to foreclosed assets held for sale 164 693
Fair value of assets acquired in business combinations, excluding cash [1] 0 362,070
Goodwill recorded [1] 0 12,800
Liabilities assumed in business combination [1] 0 345,043
Stock issued in business combination [1] $ 0 $ 18,095
[1] Additionally, 2,500 shares of restricted stock were paid out in cash resulting in $776 thousand of cash consideration relating to stock awards
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Consolidated Statements of Cash Flows (Unaudited) (Parenthetical)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
USD ($)
shares
Statement of Cash Flows [Abstract]  
Restricted stock shares paid out in cash | shares 2,500
Stock issued during period, acquisitions | $ $ 776
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Summary of Significant Accounting Policies
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Nature of Operations
Mid Penn Bancorp, Inc. ("Mid Penn" or the "Corporation"), through operations conducted by Mid Penn Bank (the "Bank") and its nonbank subsidiaries, engages in a full-service commercial banking and trust business, making available to the community a wide range of financial services, including, but not limited to, mortgage and home equity loans, secured and unsecured commercial and consumer loans, lines of credit, construction financing, farm loans, community development loans, loans to non-profit entities and local government loans, and various types of time and demand deposits including but not limited to, checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and IRAs. In addition, the Bank provides a full range of trust and wealth management services through its Trust Department. Deposits are insured by the Federal Deposit Insurance Corporation ("FDIC") to the extent provided by law.
Mid Penn also fulfills the insurance needs of both existing and potential customers through MPB Risk Services, LLC, doing business as MPB Insurance and Risk Management.
The financial services are provided to individuals, partnerships, non-profit organizations, and corporations through its retail banking offices located in throughout Pennsylvania and two counties in New Jersey.
Basis of Presentation
For all periods presented, the accompanying consolidated financial statements include the accounts of Mid Penn Bancorp, Inc., its wholly-owned subsidiary, Mid Penn Bank, and four nonbank subsidiaries, MPB Financial Services, LLC, which includes MPB Wealth Management, LLC (which ceased operating during the first quarter of 2024) and MPB Risk Services, LLC, and MPB Launchpad Fund I, LLC. As of June 30, 2024, the accounts and activities of these nonbank subsidiaries were not material to warrant separate disclosure or segment reporting. As a result, Mid Penn has only one reportable segment for financial reporting purposes. All material intercompany accounts and transactions have been eliminated in consolidation.
Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. Mid Penn believes the information presented is not misleading, and the disclosures are adequate. For comparative purposes, the June 30, 2023 and December 31, 2023 balances have been reclassified, when necessary, to conform to the 2024 presentation. Such reclassifications had no impact on net income or total shareholders’ equity. In the opinion of management, all adjustments necessary for fair presentation of the periods presented have been reflected in the accompanying consolidated financial statements. All such adjustments are of a normal, recurring nature. These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the 2023 Annual Report.
Subsequent Events
Mid Penn has evaluated events and transactions occurring subsequent to the balance sheet date of June 30, 2024 for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the issuance date of these consolidated financial statements.
On July 31, 2024, Mid Penn acquired the insurance business and related accounts of a full-service employee benefits firm that served mid to large employers across central and eastern Pennsylvania, northern Maryland, and northern Virginia, for a purchase price of $2.0 million at closing and an additional $800 thousand potentially payable pursuant to a three year earnout.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates.
Material estimates subject to significant change include the allowance for credit losses, the expected cash flows and collateral values associated with loans that are individually evaluated for credit losses, the carrying value of other real
estate owned ("OREO"), the fair value of financial instruments, business combination fair value computations, the valuation of goodwill and other intangible assets, stock-based compensation and deferred income tax assets.

Accounting Standards adopted and Updated Significant Accounting Policy
On January 1, 2023, the Corporation adopted ASU 2016-13, Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaced the incurred loss methodology, and is referred to as CECL. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including loans and HTM debt securities. It also applies to OBS credit exposures (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor in accordance with ASC Topic 842. Prior to 2024, the provision for OBS credit losses was included in Other Expenses on the Statement of Income. Beginning March 31, 2024, the provision for OBS credit losses is included in Provision for Credit Losses on the Income Statement. Prior periods have been updated for presentation.
All other significant accounting policies used in preparation of the Consolidated Financial Statements are disclosed in the 2023 Annual Report. Those significant accounting policies are unchanged at June 30, 2024.
Accounting Standards Pending Adoption
ASU No. 2023-02: 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.
The amendments in this update permit reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. A reporting entity may make an accounting policy election to apply the proportional amortization method on a tax-credit-program-by-tax-credit-program basis rather than electing to apply the proportional amortization method at the reporting entity level or to individual investments. The amendments in this update also remove certain guidance for Qualified Affordable Housing Project investments and require the application of the delayed equity contribution guidance to all tax equity investments. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and must be applied on either a modified retrospective or a retrospective basis. Early adoption is permitted in any interim period, however if adopted in an interim period the entity shall adopt the amendments in this update as of the beginning of the fiscal year that includes the interim period. The Corporation does not expect the adoption of ASU No. 2023-02 to have a material impact on its consolidated financial statements.
ASU 2023-06: The FASB issued ASU 2023-06, Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative.
ASU 2023-06 amends the ASC to incorporate certain disclosure requirements from SEC Release No. 33-10532 - Disclosure Update and Simplification that was issued in 2018. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. ASU 2023-06 is not expected to have a significant impact on the Corporation's financial statements.
ASU 2023-07: The FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.
ASU 2023-07 amends the ASC to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 is not expected to have a significant impact on the Corporation's financial statements.
ASU 2023-09: The FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures.

ASU 2023-09 amends the ASC to enhance income tax disclosures by requiring entities to disclose income taxes paid (net of refunds received) disaggregated by federal, state and foreign taxes. Additionally, entities are required to disclose amounts greater than 5% of the total income taxes paid to an individual jurisdiction The amendments are effective for annual periods beginning after December 15, 2025. ASU 2023-09 is not expected to have a significant impact on the Corporation's financial statements.
ASU 2024-01—The FASB issued ASU 2024-01, Compensation - Stock Compensation (Topic 718): Scope application of profits interest and similar awards.

The amendments in the ASU apply to all reporting entities that account for profits interest awards as compensation to employees or nonemployees in return for goods or services. The amendments are effective for annual periods beginning after December 15, 2025, and interim periods within those annual periods. ASU 2024-01 is not expected to have a significant impact on the Corporation's financial statements.

ASU 2024-02: The FASB issued ASU 2024-02, Codification Improvements—Amendments to Remove References to the Concepts Statements.

This ASU contains amendments to the Codification that remove references to various FASB Concepts Statements. The amendments are effective for fiscal years beginning after Dec. 15, 2025. Early adoption is permitted. ASU 2024-02 is not expected to have a significant impact on the Corporation's financial statements.
v3.24.2.u1
Business Combination
 6 Months Ended
Jun. 30, 2024
Business Combinations [Abstract]  
Business Combination Business Combination
Brunswick Acquisition
On May 19, 2023, Mid Penn completed its acquisition of Brunswick through the merger of Brunswick with and into Mid Penn with Mid Penn being the surviving corporation. In connection with this acquisition, Brunswick Bank, a wholly-owned subsidiary of Brunswick, merged with and into Mid Penn Bank, a wholly-owned subsidiary of Mid Penn.

This transaction included the acquisition of 5 branches and extended Mid Penn’s footprint into Middlesex and Monmouth counties in central New Jersey. Mid Penn issued 849,510 shares of its common stock as well as a net cash payment to Brunswick shareholders of $27.6 million, for total consideration of $45.7 million for all outstanding stock and the cancellation of stock options of Brunswick.
Mid Penn has recognized total goodwill of $12.8 million, which is calculated as the excess of both the consideration exchanged and liabilities assumed compared to the fair market value of identifiable assets acquired. The fair value of the consideration exchanged related to Mid Penn’s common stock was calculated based upon the closing market price of Mid Penn’s common stock as of May 19, 2023. None of the goodwill recognized is expected to be deductible for income tax purposes.

Purchased loans and leases that reflect a more-than-insignificant deterioration of credit from origination are considered PCD. Mid Penn considers various factors in connection with the identification of more-than-insignificant deterioration in credit, including but not limited to nonperforming status, delinquency, risk ratings, FICO scores and other qualitative factors that indicate deterioration in credit quality since origination. For PCD loans and leases, the initial estimate of expected credit losses is recognized in the ACL on the date of acquisition using the same methodology as other loans and leases held-for-investment. As part of the Brunswick Acquisition, Mid Penn acquired PCD loans and leases of $18.7 million. Mid Penn established an ACL at acquisition of $336 thousand with a corresponding gross-up to the amortized cost of the PCD loans and leases. The non-credit discount on the PCD loans and leases was $2.4 million and the Day 1 fair value was $16.3 million. The initial provision expense for non-PCD loans associated with the Brunswick Acquisition was $2.0 million.
Estimated fair values of the assets acquired and liabilities assumed in the Brunswick Acquisition as of the closing date are as follows:
(In thousands)
Assets acquired:
Cash and cash equivalents$21,029 
Federal funds sold7,604 
Investment securities2,423 
Loans324,471 
Goodwill12,800 
Core deposit intangible999 
Premises and equipment4,568 
Cash surrender value of life insurance3,361 
Deferred income taxes6,393 
Accrued interest receivable1,171 
Other assets5,884 
Total assets acquired390,703 
Liabilities assumed:
Deposits:
Noninterest-bearing demand60,888 
Interest-bearing demand11,767 
Money Market47,362 
Savings14,203 
Time147,163 
Long-term debt60,136 
Accrued interest payable1,911 
Other liabilities1,613 
Total liabilities assumed345,043 
Consideration paid$45,660 
Cash paid$27,565 
Fair value of common stock issued18,095 
Management has completed its evaluation of fair values of all assets and liabilities shown in the table above and all amounts are considered final.
v3.24.2.u1
Investment Securities
 6 Months Ended
Jun. 30, 2024
Securities Financing Transactions Disclosures [Abstract]  
Investment Securities Investment Securities
FASB ASU 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," was adopted by Mid Penn on January 1, 2023. ASU 2016-13 introduces the CECL methodology for estimating allowances for credit losses. ASU 2016-13 applies to all financial instruments carried at amortized cost, including HTM securities, and makes targeted improvements to the accounting for credit losses on AFS securities.
In order to comply with ASC 326, Mid Penn conducted a review of its investment portfolio and determined that for certain classes of securities it would be appropriate to assume the expected credit loss to be zero. This zero-credit loss assumption applies to debt issuances of the U.S. Treasury and agencies and instrumentalities of the United States government. The reasons behind the adoption of the zero-credit loss assumption are as follows:
•High credit rating
•Long history with no credit losses
•Guaranteed by a sovereign entity
•Widely recognized as "risk-free rate"
•Can print its own currency
•Currency is routinely held by central banks, used in international commerce, and commonly viewed as reserve currency
•Currently under the U.S. Government conservatorship or receivership
Mid Penn will continuously monitor any changes in economic conditions, credit downgrades, changes to explicit or implicit guarantees granted to certain debt issuers, and any other relevant information that would indicate potential credit deterioration and prompt Mid Penn to reconsider its zero-credit loss assumption.
At the date of adoption, Mid Penn’s estimated allowance for credit losses on AFS and HTM securities under ASU 2016-13 was deemed immaterial due to the composition of these portfolios. Both portfolios consist primarily of U.S. government agency guaranteed mortgage-backed securities for which the risk of loss is minimal. Therefore, Mid Penn did not recognize a cumulative effect adjustment through retained earnings related to the AFS and HTM securities.
AFS Securities
ASU 2016-13 made targeted improvements to the accounting for credit losses on AFS securities. The concept of other-than-temporarily impaired has been replaced with the allowance for credit losses. Unlike HTM securities, AFS securities are evaluated on an individual level and pooling of securities is not allowed.
Quarterly, Mid Penn evaluates if any security has a fair value less than its amortized cost. Once these securities are identified, in order to determine whether a decline in fair value resulted from a credit loss or other factors, Mid Penn performs further analysis as outlined below:
•Review the extent to which the fair value is less than the amortized cost and observe the security’s lowest credit rating as reported by third-party credit ratings companies.
•The securities that violate the credit loss triggers above would be subjected to additional analysis that may include, but is not limited to: changes in market interest rates, changes in securities credit ratings, security type, service area economic factors, financial performance of the issuer/or obligor of the underlying issue and third-party guarantee.
•If Mid Penn determines that a credit loss exists, the credit portion of the allowance will be measured using a DCF analysis using the effective interest rate as of the security’s purchase date. The amount of credit loss Mid Penn records will be limited to the amount by which the amortized cost exceeds the fair value.
The DCF analysis utilizes contractual maturities, as well as third-party credit ratings and cumulative default rates published annually by a reputable third-party.
At June 30, 2024, the results of the analysis did not identify any securities that violate the credit loss triggers; therefore, no DCF analysis was performed and no credit loss was recognized on any of the securities available for sale.
Accrued interest receivable is excluded from the estimate of credit losses for AFS securities. At June 30, 2024, accrued interest receivable totaled $986 thousand for AFS securities and was reported in accrued interest receivable on the accompanying Consolidated Balance Sheet.
HTM Securities
ASU 2016-13 requires institutions to measure expected credit losses on financial assets carried at amortized cost on a collective or pool basis when similar risks exist. Mid Penn uses several levels of segmentation in order to measure expected credit losses:
•The portfolio is segmented into agency and non-agency securities.
•The non-agency securities are separated into state and political subdivision obligations and corporate debt securities.
Each individual segment is categorized by third-party credit ratings.
As discussed above, Mid Penn has determined that for certain classes of securities it would be appropriate to assume the expected credit loss to be zero, which include debt issuances of the U.S. Treasury and agencies and instrumentalities of the United States government. This assumption will be reviewed and attested to quarterly.
At June 30, 2024, Mid Penn’s HTM securities totaled $393.3 million. After applying appropriate probability of default and loss given default assumptions, the total amount of current expected credit losses was deemed immaterial. Therefore, no reserve was recorded at June 30, 2024.
Accrued interest receivable is excluded from the estimate of credit losses for HTM securities. At June 30, 2024, accrued interest receivable totaled $1.8 million for HTM securities and was reported in accrued interest receivable on the accompanying Consolidated Balance Sheet.
At June 30, 2024, Mid Penn had no HTM securities that were past due 30 days or more as to principal or interest payments. Mid Penn had no HTM securities classified as nonaccrual at June 30, 2024.
The amortized cost and estimated fair value of investment securities for the periods presented:
June 30, 2024
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$31,693 $— $1,074 $30,619 
Mortgage-backed U.S. government agencies160,932 — 18,895 142,037 
State and political subdivision obligations4,320 — 729 3,591 
Corporate debt securities35,742 — 4,053 31,689 
Total available-for-sale debt securities232,687 — 24,751 207,936 
Held-to-maturity
U.S. Treasury and U.S. government agencies$245,873 $— $30,436 $215,437 
Mortgage-backed U.S. government agencies40,845 — 5,776 35,069 
State and political subdivision obligations81,142 — 7,719 73,423 
Corporate debt securities25,460 — 2,114 23,346 
Total held-to-maturity debt securities393,320 — 46,045 347,275 
Total$626,007 $— $70,796 $555,211 
December 31, 2023
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$36,637 $— $988 $35,649 
Mortgage-backed U.S. government agencies169,184 — 16,501 152,683 
State and political subdivision obligations4,332 — 686 3,646 
Corporate debt securities35,733 — 4,156 31,577 
Total available-for-sale debt securities$245,886 $— $22,331 $223,555 
Held-to-maturity     
U.S. Treasury and U.S. government agencies$245,805 $2 $28,676 $217,131 
Mortgage-backed U.S. government agencies43,818 — 5,523 38,295 
State and political subdivision obligations84,035 11 6,486 77,560 
Corporate debt securities25,470 — 935 24,535 
Total held-to-maturity debt securities399,128 13 41,620 357,521 
Total$645,014 $13 $63,951 $581,076 
Estimated fair values of debt securities are based on quoted market prices, where applicable. If quoted market prices are not available, fair values are based on quoted market prices of instruments of a similar type, credit quality and structure, adjusted for differences between the quoted instruments and the instruments being valued. See "Note 8 - Fair Value Measurement," for additional information.
Investment securities having a fair value of $408.3 million at June 30, 2024 and $380.3 million at December 31, 2023 were pledged to secure public deposits, some Trust department deposit accounts, and certain other borrowings. In accordance with legal provisions for alternatives other than pledging of investments, Mid Penn also obtains letters of credit from the FHLB to secure certain public deposits. These FHLB letter of credit commitments totaled $138.9 million as of June 30, 2024 and $153.5 million as of December 31, 2023.
The following tables present gross unrealized losses and fair value of debt investment securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the periods presented:
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
June 30, 2024Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies—$— $— 17$30,619 $1,074 17$30,619 $1,074 
Mortgage-backed U.S. government agencies—— — 93142,037 18,895 93142,037 18,895 
State and political subdivision obligations—— — 83,591 729 83,591 729 
Corporate debt securities1413 87 1731,276 3,966 1831,689 4,053 
Total available-for-sale debt securities1$413 $87 135$207,523 $24,664 136$207,936 $24,751 
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies—— — 145215,437 30,436 145215,437 30,436 
Mortgage-backed U.S. government agencies—— — 6435,069 5,776 6435,069 5,776 
State and political subdivision obligations3952 18 18672,471 7,701 18973,423 7,719 
Corporate debt securities612,950 1,050 910,396 1,064 1523,346 2,114 
Total held-to-maturity debt securities913,902 1,068 404333,373 44,977 413347,275 46,045 
Total10$14,315 $1,155 539$540,896 $69,641 549$555,211 $70,796 
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
December 31, 2023Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses
Available-for-sale securities:
U.S. Treasury and U.S. government agencies—$— $— 19$35,649 $988 19$35,649 $988 
Mortgage-backed U.S. government agencies14,015 26 92148,668 16,475 93152,683 16,501 
State and political subdivision obligations—— — 83,646 686 83,646 686 
Corporate debt securities1410 90 1731,167 4,066 1831,577 4,156 
Total available-for-sale securities24,425 116 136219,130 22,215 138223,555 22,331 
Held-to-maturity securities:
U.S. Treasury and U.S. government agencies1$2,002 $— 144$215,129 $28,676 145$217,131 $28,676 
Mortgage-backed U.S. government agencies—— — 6438,295 5,523 6438,295 5,523 
State and political subdivision obligations258,729 63 17068,831 6,423 19577,560 6,486 
Corporate debt securities1936 57 1423,599 878 1524,535 935 
Total held to maturity securities2711,667 120 392345,854 41,500 419357,521 41,620 
Total29$16,092 $236 528$564,984 $63,715 557$581,076 $63,951 
There were no gross realized gains and losses on sales of available-for-sale debt securities for the six months ended June 30, 2024 and 2023.
The table below illustrates the contractual maturity of debt investment securities at amortized cost and estimated fair value. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay with or without call or prepayment penalties.
(In thousands)Available-for-saleHeld-to-maturity
June 30, 2024Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in 1 year or less$12,000 $11,870 $17,458 $17,255 
Due after 1 year but within 5 years29,949 28,395 125,451 115,700 
Due after 5 years but within 10 years28,481 24,565 189,439 162,513 
Due after 10 years1,325 1,069 20,127 16,738 
71,755 65,899 352,475 312,206 
Mortgage-backed securities160,932 142,037 40,845 35,069 
$232,687 $207,936 $393,320 $347,275 
v3.24.2.u1
Loans and Allowance for Credit Losses - Loans
 6 Months Ended
Jun. 30, 2024
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Loans and Allowance for Credit Losses - Loans Loans and Allowance for Credit Losses - Loans
Mid Penn adopted the amendments of FASB ASU 2016-13, on January 1, 2023. The amendments of ASU 2016-13 created FASB ASC Topic 326, "Financial Instruments – Credit Losses," which, among other things, replace much of the guidance and disclosures previously provided in FASB ASC Topic 310, "Receivables." The guidance in FASB ASC Topic 326 replaces the incurred loss methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit losses. In accordance with FASB ASC Subtopic 326-20, "Financial Instruments – Credit Losses – Measured at Amortized Cost," Mid Penn has developed an ACL methodology effective January 1, 2023, which replaced its previous allowance for loan losses methodology. See the section captioned "Allowance for Credit Losses, effective January 1, 2023" within this note for additional information regarding Mid Penn’s ACL.
Loans, net of unearned income, are summarized as follows by portfolio segment:
(In thousands)June 30, 2024December 31, 2023
Commercial real estate
CRE Nonowner Occupied$1,187,050 $1,149,553 
CRE Owner Occupied623,756 629,904 
Multifamily374,175 309,059 
Farmland213,002 212,690 
Total Commercial real estate2,397,983 2,301,206 
Commercial and industrial
692,703 675,079 
Construction
Residential Construction105,676 92,843 
Other Construction348,289 362,624 
Total Construction453,965 455,467 
Residential mortgage
1-4 Family 1st Lien327,302 339,142 
1-4 Family Rental351,554 341,937 
HELOC and Junior Liens134,686 132,795 
Total Residential Mortgage813,542 813,874 
Consumer6,368 7,166 
Total loans$4,364,561 $4,252,792 

Total loans are stated at the amount of unpaid principal, adjusted for net deferred fees and costs. Net deferred loan fees of $3.8 million and $4.2 million reduced the carrying value of loans as of June 30, 2024 and December 31, 2023, respectively.
Accrued interest receivable is not included in the amortized cost basis of Mid Penn's loans. Accrued interest receivable for loans totaled $24.0 million and $22.1 million as of June 30, 2024 and December 31, 2023, respectively, with no related ACL and was reported in other assets on the accompanying Consolidated Balance Sheet.
Past Due and Nonaccrual Loans
The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The classes of the loan portfolio summarized by the past due status as of June 30, 2024 and December 31, 2023, are summarized as follows:
(In thousands)30-59
Days Past
Due		60-89
Days Past
Due		Greater
than 90
Days		Total Past
Due		CurrentTotal LoansLoans
Receivable
> 90 Days and
Accruing
June 30, 2024
Commercial real estate
CRE Nonowner Occupied$7,850 $— $2,074 $9,924 $1,177,126 $1,187,050 $— 
CRE Owner Occupied693 — 955 1,648 622,108 623,756 — 
Multifamily— — — — 374,175 374,175 — 
Farmland505 — — 505 212,497 213,002 — 
Total Commercial real estate9,048 — 3,029 12,077 2,385,906 2,397,983 — 
Commercial and industrial493 414 1,548 2,455 690,248 692,703 — 
Construction
Residential Construction— — — — 105,676 105,676 — 
Other Construction— — — — 348,289 348,289 — 
Total Construction— — — — 453,965 453,965 — 
Residential mortgage
1-4 Family 1st Lien5,258 41 762 6,061 321,241 327,302 — 
1-4 Family Rental69 — 301 370 351,184 351,554 — 
HELOC and Junior Liens1,424 1,077 1,157 3,658 131,028 134,686 — 
Total Residential Mortgage6,751 1,118 2,220 10,089 803,453 813,542 — 
Consumer42 — — 42 6,326 6,368 — 
Total$16,334 $1,532 $6,797 $24,663 $4,339,898 $4,364,561 $— 

(In thousands)30-59
Days Past
Due		60-89
Days Past
Due		Greater
than 90
Days		Total Past
Due		CurrentTotal LoansLoans
Receivable
> 90 Days and
Accruing
December 31, 2023
Commercial real estate
CRE Nonowner Occupied$3,339 $682 $2,115 $6,136 $1,143,417 $1,149,553 $— 
CRE Owner Occupied1,734 — 859 2,593 627,311 629,904 — 
Multifamily— — — — 309,059 309,059 — 
Farmland— — — — 212,690 212,690 — 
Total Commercial real estate5,073 682 2,974 8,729 2,292,477 2,301,206 — 
Commercial and industrial638 24 1,270 1,932 673,147 675,079 — 
Construction
Residential Construction— 270 303 573 92,270 92,843 — 
Other Construction— — 2,256 2,256 360,368 362,624 — 
Total Construction— 270 2,559 2,829 452,638 455,467 — 
Residential mortgage
1-4 Family 1st Lien1,554 217 847 2,618 336,524 339,142 — 
1-4 Family Rental2,520 — 644 3,164 338,773 341,937 — 
HELOC and Junior Liens574 50 1,027 1,651 131,144 132,795 — 
Total Residential Mortgage4,648 267 2,518 7,433 806,441 813,874 — 
Consumer41 31 — 72 7,094 7,166 — 
Total$10,400 $1,274 $9,321 $20,995 $4,231,797 $4,252,792 $— 
Loans are placed on nonaccrual status when management determines that the full repayment of principal and collection of interest according to contractual terms is no longer likely, generally when the loan becomes 90 days or more past due. Nonaccrual loans by loan portfolio class, including loans acquired with credit deterioration, as of June 30, 2024 and December 31, 2023 are summarized as follows:
June 30, 2024December 31, 2023
(In thousands)With a Related AllowanceWithout a Related AllowanceTotalWith a Related AllowanceWithout a Related AllowanceTotal
Commercial real estate
CRE Nonowner Occupied354 2,221 2,575 361 4,144 4,505 
CRE Owner Occupied— 1,642 1,642 — 1,909 1,909 
Multifamily88 77 165 93 80 173 
Total Commercial real estate442 3,940 4,382 454 6,133 6,587 
Commercial and industrial1,104 1,355 2,459 1,222 64 1,286 
Construction
Residential Construction— — — — 303 303 
Other Construction— — — — 2,256 2,256 
Total Construction— — — — 2,559 2,559 
Residential mortgage
1-4 Family 1st Lien— 1,530 1,530 — 1,875 1,875 
1-4 Family Rental— 348 348 2 699 701 
HELOC and Junior Liens— 1,280 1,280 — 1,208 1,208 
Total Residential Mortgage$— $— $3,158 $3,158 $2 $3,782 $3,784 
Consumer— — — — — — 
Total loans$1,546 $8,453 $9,999 $1,678 $12,538 $14,216 
The amount of interest income recognized on nonaccrual loans was approximately $132 thousand and $281 thousand during the three months ended June 30, 2024 and 2023, respectively. During the six months ended June 30, 2024 and 2023, the amount of interest income recognized on nonaccrual loans was approximately $291 thousand and $463 thousand, respectively.
Credit Quality Indicators
Mid Penn categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. On a minimum of a quarterly basis, Mid Penn analyzes loans individually to classify the loans as to their credit risk. The following table presents risk ratings by loan portfolio segment and origination year, which is the year of origination or renewal.
PASS - This type of classification consists of 6 subcategories:    
Nominal Risk / Pass - This loan classification is a credit extension of the highest quality.
Moderate Risk / Pass - This type of classification has strong financial ratios, substantial debt capacity, and low leverage with a very favorable comparison to industry peers or better than average improving trends are necessary to be in this classification.
Good Acceptable Risk / Pass - The Borrower in this rating classification is a reasonable credit risk having financial ratios on par with its peers and demonstrates slightly improving trends over time; they list good quality assets and fairly low leverage plus ample debt capacity.
Average Acceptable Risk / Pass - This type of classification has financial ratios and assets are of above average quality, the leverage is worse than average compared to industry standards; the Borrower should have a good repayment history and possess consistent earnings with some growth.
Marginally Acceptable Risk / Pass - This type of classification has financial ratios consistent with industry averages, assets of average quality with ascertainable values, acceptable leverage, moderate capital assets and an acceptable reliance on trade debt; the Borrower demonstrates marginally adequate earnings, cash flow and debt service plus positive trends.
Weak/Monitor Risk (Watch list) / Pass - This type of classification has financial ratios are slightly below standard industry averages and assets are below average quality with unstable values; fixed assets could be near or at the end of their useful life plus liabilities may not match the asset structure.

SPECIAL MENTION - These credits have developing weaknesses deserving extra attention from the lender and lending management. They are currently protected, but potentially weak. The weakness may be, cash flow, leverage, liquidity, management, industry or other factors which may, if not checked or corrected, weaken the asset or inadequately protect the Bank’s credit position at some future date.

SUBSTANDARD - These credit extensions also have well defined weaknesses, which are inadequately protected by the current worth and debt service capacity of the Borrowers, or the collateral pledged, if any. The repayment of principal and interest as originally intended can be jeopardized by defined weaknesses related to adverse financial, managerial, economic, market or political conditions.

DOUBTFUL - These credits have definite weaknesses inherent in Substandard loans with added characteristics that are severe enough to make further collection in full highly questionable and improbable based on the current trends.

LOSS. These loans are considered uncollectible and no longer a viable asset of the Bank. They lack an identifiable source of repayment based on an inability to generate sufficient cash flow to service their debt. All trends are negative and the damage to the financial condition of the Borrower can’t be reversed now or in the near future.
June 30, 2024
Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized
Cost Basis
(In thousands)20242023202220212020PriorTotal
CRE Nonowner Occupied
Pass$37,757 $123,658 $352,395 $155,832 $137,304 $338,754 $13,338 $1,159,038 
Special mention$— $— $286 $— $— $8,563 $— $8,849 
Substandard or lower$— $— $— $— $3,186 $15,977 $— $19,163 
Total CRE Nonowner Occupied$37,757 $123,658 $352,681 $155,832 $140,490 $363,294 $13,338 $1,187,050 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
CRE Owner Occupied
Pass$22,571 $95,962 $112,787 $69,370 $84,057 $217,751 $12,469 $614,967 
Special mention$— $— $4,197 $— $— $1,196 $— $5,393 
Substandard or lower$— $— $— $202 $— $3,194 $— $3,396 
Total CRE Owner Occupied$22,571 $95,962 $116,984 $69,572 $84,057 $222,141 $12,469 $623,756 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $4 $— $4 
Net charge offs$— $— $— $— $— $4 $— $4 
Multifamily
Pass$1,760 $48,131 $68,902 $124,194 $40,289 $88,103 $2,573 $373,952 
Special mention$— $— $— $— $— $58 $— $58 
Substandard or lower$— $— $— $— $— $165 $— $165 
Total Multifamily$1,760 $48,131 $68,902 $124,194 $40,289 $88,326 $2,573 $374,175 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
Farmland
Pass$10,235 $31,232 $58,763 $43,714 $26,913 $26,001 $13,581 $210,439 
Special mention$— $130 $— $— $— $2,239 $194 $2,563 
Substandard or lower$— $— $— $— $— $— $— $— 
Total Farmland$10,235 $31,362 $58,763 $43,714 $26,913 $28,240 $13,775 $213,002 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
Commercial and industrial
Pass$61,938 $140,077 $93,136 $63,424 $26,521 $99,786 $198,482 $683,364 
Special mention$— $73 $349 $111 $— $2,083 $2,609 $5,225 
Substandard or lower$— $— $— $1,199 $— $2,300 $615 $4,114 
Total commercial and industrial$61,938 $140,150 $93,485 $64,734 $26,521 $104,169 $201,706 $692,703 
Gross charge offs$— $— $— $— $— $(56)$— $(56)
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $(56)$— $(56)
Residential Construction
Pass$13,518 $48,702 $22,406 $2,147 $266 $— $18,637 $105,676 
Special mention$— $— $— $— $— $— $— $— 
Substandard or lower— — — — — — — — 
Total Residential Construction13,518 48,702 22,406 2,147 266 — 18,637 105,676 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — — — — 
Net recoveries— — — — — — — — 
Other Construction
Pass16,732 126,782 141,267 15,126 15,240 13,480 17,852 346,479 
Special mention— — — — 1,810 — — 1,810 
Substandard or lower— — — — — — — — 
Total Other Construction16,732 126,782 141,267 15,126 17,050 13,480 17,852 348,289 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — — — — 
Net recoveries— — — — — — — — 
1-4 Family 1st Lien
Performing18,016 65,349 48,612 37,567 45,419 108,872 1,937 325,772 
Non-performing— — — — 220 1,310 — 1,530 
Total 1-4 Family 1st Lien18,016 65,349 48,612 37,567 45,639 110,182 1,937 327,302 
Gross charge offs— — — — — (7)— (7)
Current period recoveries— — — — — 7 — 7 
Net charge offs— — — — — — — — 
1-4 Family Rental
Performing17,981 61,319 91,335 62,865 37,115 76,677 1,885 349,177 
Non-performing— 148 — — 1,430 799 — 2,377 
Total 1-4 Family Rental17,981 61,467 91,335 62,865 38,545 77,476 1,885 351,554 
Gross charge offs— — — — — (2)— (2)
Current period recoveries— — — — — 22 — 22 
Net charge offs— — — — — 20 — 20 
HELOC and Junior Liens
Performing2,535 17,139 10,644 5,294 2,500 9,918 85,377 133,407 
Non-performing— 24 — — — 1,255 — 1,279 
Total HELOC and Junior Liens2,535 17,163 10,644 5,294 2,500 11,173 85,377 134,686 
Gross charge offs— — (21)— — — — (21)
Current period recoveries— — — — — — — — 
Net charge offs— — (21)— — — — (21)
Consumer
Performing1,606 1,147 524 470 160 267 2,194 6,368 
Non-performing— — — — — — — — 
Total consumer1,606 1,147 524 470 160 267 2,194 6,368 
Gross charge offs— — (2)— — (24)— (26)
Current period recoveries— — 1 — — 16 — 17 
Net charge offs— — (1)— — (8)— (9)
Total
Pass164,511 614,544 849,656 473,807 330,590 783,875 276,932 3,493,915 
Special mention— 203 4,832 111 1,810 14,139 2,803 23,898 
Substandard or lower— — — 1,401 3,186 21,636 615 26,838 
Performing40,138 144,954 151,115 106,196 85,194 195,734 91,393 814,724 
Nonperforming— 172 — — 1,650 3,364 — 5,186 
Total$204,649 $759,873 $1,005,603 $581,515 $422,430 $1,018,748 $371,743 $4,364,561 
December 31, 2023
Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized
Cost Basis
(In thousands)20232022202120202019PriorTotal
CRE Nonowner Occupied
Pass$119,793 $329,715 $160,583 $140,083 $86,629 $267,210 $10,030 $1,114,043 
Special mention$— $— $— $— $6,009 $7,926 $— $13,935 
Substandard or lower$— $5,209 $— $3,162 $229 $12,975 $— $21,575 
Total CRE Nonowner Occupied$119,793 $334,924 $160,583 $143,245 $92,867 $288,111 $10,030 $1,149,553 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
CRE Owner Occupied
Pass$92,561 $121,231 $75,711 $86,322 $60,761 $174,680 $14,388 $625,654 
Special mention$— $— $— $— $— $190 $— $190 
Substandard or lower$— $— $208 $— $— $3,852 $— $4,060 
Total CRE Owner Occupied$92,561 $121,231 $75,919 $86,322 $60,761 $178,722 $14,388 $629,904 
Gross charge offs$— $— $— $— $— $(16)$— $(16)
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $(16)$— $(16)
Multifamily
Pass$26,776 $44,450 $105,406 $41,713 $23,118 $65,480 $1,881 $308,824 
Special mention$— $— $— $— $— $62 $— $62 
Substandard or lower$— $— $— $— $— $173 $— $173 
Total Multifamily$26,776 $44,450 $105,406 $41,713 $23,118 $65,715 $1,881 $309,059 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
Farmland
Pass$32,525 $61,405 $45,211 $29,628 $7,926 $20,956 $11,962 $209,613 
Special mention$194 $— $— $— $— $2,304 $186 $2,684 
Substandard or lower$— $— $— $— $— $345 $48 $393 
Total Farmland$32,719 $61,405 $45,211 $29,628 $7,926 $23,605 $12,196 $212,690 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
Commercial and industrial
Pass$158,824 $106,714 $68,448 $29,961 $50,206 $57,892 $188,714 $660,759 
Special mention$— $89 $2,224 $— $227 $2,200 $4,391 $9,131 
Substandard or lower$— $— $662 $— $— $1,978 $2,549 $5,189 
Total commercial and industrial$158,824 $106,803 $71,334 $29,961 $50,433 $62,070 $195,654 $675,079 
Gross charge offs$— $(100)$— $(111)$— $(27)$— $(238)
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $(100)$— $(111)$— $(27)$— $(238)
Residential construction
Pass$43,043 $25,159 $6,444 $979 $— $— $16,645 $92,270 
Special mention$— $— $— $— $— $— $— $— 
Substandard or lower— 573 — — — — — 573 
Total Residential construction43,043 25,732 6,444 979 — — 16,645 92,843 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — — — — 
Net recoveries— — — — — — — — 
Other construction
Pass110,553 156,055 48,214 21,378 10,247 5,856 6,617 358,920 
Special mention— — — 1,447 — — — 1,447 
Substandard or lower— — — — — 2,257 — 2,257 
Total Other construction110,553 156,055 48,214 22,825 10,247 8,113 6,617 362,624 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — — — — 
Net recoveries— — — — — — — — 
1-4 Family 1st Lien
Performing77,801 51,651 41,133 48,748 9,348 106,353 2,240 337,274 
Non-performing— — 37 218 — 1,613 — 1,868 
Total 1-4 Family 1st Lien77,801 51,651 41,170 48,966 9,348 107,966 2,240 339,142 
Gross charge offs— — — — — (13)— (13)
Current period recoveries— — — — — 8 — 8 
Net recoveries— — — — — (5)— (5)
1-4 Family Rental
Performing62,897 90,092 64,766 38,672 16,831 64,309 1,885 339,452 
Non-performing— — 56 1,252 — 1,177 — 2,485 
Total 1-4 Family Rental62,897 90,092 64,822 39,924 16,831 65,486 1,885 341,937 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — 30 — 30 
Net recoveries— — — — — 30 — 30 
HELOC and Junior Liens
Performing17,936 11,460 5,711 2,962 1,684 8,236 83,598 131,587 
Non-performing— — — — — 1,208 — 1,208 
Total HELOC and Junior Liens17,936 11,460 5,711 2,962 1,684 9,444 83,598 132,795 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — — — — 
Net recoveries— — — — — — — — 
Consumer
Performing2,361 754 649 273 223 103 2,803 7,166 
Non-performing— — — — — — — — 
Total consumer2,361 754 649 273 223 103 2,803 7,166 
Gross charge offs(86)— (10)(9)— (30)— (135)
Current period recoveries26 — — 1 — 5 — 32 
Net charge offs(60)— (10)(8)— (25)— (103)
Total
Pass584,075 844,729 510,017 350,064 238,887 592,074 250,237 3,370,083 
Special mention194 89 2,224 1,447 6,236 12,682 4,577 27,449 
Substandard or lower— 5,782 870 3,162 229 21,580 2,597 34,220 
Performing160,995 153,957 112,259 90,655 28,086 179,001 90,526 815,479 
Nonperforming— — 93 1,470 — 3,998 — 5,561 
Total745,264 1,004,557 625,463 446,798 273,438 809,335 347,937 4,252,792 
Mid Penn had no loans classified as "doubtful" as of June 30, 2024 and December 31, 2023. There was $892 thousand and $121 thousand in loans for which formal foreclosure proceedings were in process at June 30, 2024 and December 31, 2023.
Collateral-Dependent Loans
A financial asset is considered to be collateral-dependent when the debtor is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. For all classes of financial assets deemed collateral-dependent, Mid Penn elected the practical expedient to estimate expected credit losses based on the collateral’s fair value less cost to sell. In most cases, Mid Penn records a partial charge-off to reduce the loan’s carrying value to the collateral’s fair value less cost to sell. Substantially all of the collateral supporting collateral-dependent financial assets consists of various types of real estate, including residential properties; commercial properties such as retail centers, office buildings, and lodging; agriculture land; and vacant land.
Allowance for Credit Losses

Mid Penn’s ACL - loans methodology is based upon guidance within FASB ASC Subtopic 326-20, as well as regulatory guidance from the FDIC, its primary federal regulator. The ACL - loans is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Credit quality within the loan portfolio is continuously monitored by management and is reflected within the ACL - loans. The ACL - loans is an estimate of expected losses inherent within Mid Penn’s existing loan portfolio. The ACL - loans is adjusted through the PCL and reduced by the charge off of loan amounts, net of recoveries.
The loan loss estimation process involves procedures to appropriately consider the unique characteristics of Mid Penn’s loan portfolio segments. When computing allowance levels, credit loss assumptions are estimated using a model that categorizes loan pools based on loss history and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. Evaluations of the portfolio and individual credits are inherently subjective, as they require estimates, assumptions and judgments as to the facts and circumstances of particular situations. Determining the appropriateness of the allowance is complex and requires judgement by management about the effect of matters that are inherently uncertain. In future periods, evaluations of the overall loan portfolio, in light of the factors and forecasts then prevailing, may result in significant changes in the ACL and credit loss expense.
Mid Penn estimates the ACL using relevant available information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Mid Penn uses a third-party software application to calculate the quantitative portion of the ACL using a methodology and assumptions specific to each loan pool. The qualitative portion of the allowance is based on general economic conditions and other internal and external factors affecting Mid Penn as a whole, as well as specific loans. Factors considered include the following: lending process, concentrations of credit, and credit quality. The quantitative and qualitative portions of the allowance are added together to determine the total ACL, which reflects management’s expectations of future conditions based on reasonable and supportable forecasts.
The methodology for estimating the amount of expected credit losses reported in the ACL has two basic components: a collective, or pooled, component for estimated expected credit losses for pools of loans that share similar risk characteristics, and an asset-specific component involving individual loans that do not share risk characteristics with other loans and the measurement of expected credit losses for such individual loans. In estimating the ACL for the collective component, loans are segregated into loan pools based on loan purpose codes and similar risk characteristics.
The commercial real estate and residential mortgage loan portfolio segments include loans for both commercial and residential properties that are secured by real estate. The underwriting process for these loans includes analysis of the financial position and strength of both the borrower and, if applicable, guarantor, experience with similar projects in the past, market demand and prospects for successful completion of the proposed project within the established budget and schedule, values of underlying collateral, availability of permanent financing, maximum loan-to-value ratios, minimum equity requirements, acceptable amortization periods and minimum debt service coverage requirements, based on property type. The borrower’s financial strength and capacity to repay their obligations remain the primary focus of underwriting. Financial strength is evaluated based upon analytical tools that consider historical and projected cash flows and performance, in addition to analysis of the proposed project for income-producing properties. Additional support offered by guarantors is also considered when applicable. Ultimate repayment of these loans is sensitive to interest rate changes, general economic conditions, liquidity and availability of long-term financing.
The commercial and industrial loan portfolio segment includes commercial loans made to many types of businesses for various purposes, such as short-term working capital loans that are usually secured by accounts receivable and inventory,
equipment and fixed asset purchases that are secured by those assets, and term financing for those within Mid Penn’s geographic markets. Mid Penn’s credit underwriting process for commercial and industrial loans includes analysis of historical and projected cash flows and performance, evaluation of financial strength of both borrowers and guarantors as reflected in current and detailed financial information, and evaluation of underlying collateral to support the credit.
The consumer loan portfolio segment is comprised of loans which are underwritten after evaluating a borrower’s capacity, credit and collateral. Several factors are considered when assessing a borrower’s capacity, including the borrower’s employment, income, current debt, assets and level of equity in the property. Credit is assessed using a credit report that provides credit scores and the borrower’s current and past information about their credit history. Loan-to-value and debt-to-income ratios, loan amount and lien position are also considered in assessing whether to originate a loan. These borrowers are particularly susceptible to downturns in economic trends, such as conditions that negatively affect housing prices and demand and levels of unemployment.
Mid Penn utilizes a DCF method to estimate the quantitative portion of the allowance for credit losses for loan pools. The DCF is based off of historical losses, including peer data, which is correlated to national unemployment and GDP.
The PD and LGD measures are used in conjunction with prepayment data as inputs into the DCF model to calculate the cash flows at the individual loan level. Contractual cash flows based on loan terms are adjusted for PD, LGD and prepayments to derive loss cash flows. These loss cash flows are discounted by the loan’s coupon rate to arrive at the discounted cash flow based quantitative loss. The prepayment studies are updated quarterly by a third-party for each applicable pool.
Mid Penn determined that reasonable and supportable forecasts could be made for a twelve-month period for all of its loan pools. To the extent the lives of the loans in the LHFI portfolio extend beyond this forecast period, Mid Penn uses a reversion period of four quarters and reverts to the historical mean on a straight-line basis over the remaining life of the loans.
Qualitative factors used in the ACL methodology include the following:
•Lending process
•Concentrations of credit
•Peer Group Divergence
The ACL for individual loans, such as non-accrual and PCD, that do not share risk characteristics with other loans is measured as the difference between the discounted value of expected future cash flows, based on the effective interest rate at origination, and the amortized cost basis of the loan, or the net realizable value. The ACL is the difference between the loan’s net realizable value and its amortized cost basis (net of previous charge-offs and deferred loan fees and costs), except for collateral-dependent loans. A loan is collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the sale of the collateral. The expected credit loss for collateral-dependent loans is measured as the difference between the amortized cost basis of the loan and the fair value of the collateral, adjusted for the estimated cost to sell. Fair value estimates for collateral-dependent loans are derived from appraised values based on the current market value or the "as is" value of the collateral, normally from recently received and reviewed appraisals. Current appraisals are ordered on a regular basis based on the inspection date or more often if market conditions necessitate. Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property. These appraisals are reviewed by Mid Penn’s Real Estate Administration Group to ensure they are acceptable, and values are adjusted down for costs associated with asset disposal. If the calculated expected credit loss is determined to be permanent or not recoverable, the amount of the expected credit loss is charged off.
Mid Penn may also purchase loans or acquire loans through a business combination. At the purchase or acquisition date, loans are evaluated to determine whether there has been more than insignificant credit deterioration since origination. Loans that have experienced more than insignificant credit deterioration since origination are referred to as PCD loans. In its evaluation of whether a loan has experienced more than insignificant deterioration in credit quality since origination, Mid Penn takes into consideration loan grades, past due and nonaccrual status. Mid Penn may also consider external credit rating agency ratings for borrowers and for non-commercial loans, FICO score or band, probability of default levels, and number of times past due. At the purchase or acquisition date, the amortized cost basis of PCD loans is equal to the purchase price and an initial estimate of credit losses. The initial recognition of expected credit losses on PCD loans has no impact on net income. When the initial measurement of expected credit losses on PCD loans is calculated on a pooled loan basis, the expected credit losses are allocated to each loan within the pool. Any difference between the initial amortized
cost basis and the unpaid principal balance of the loan represents a noncredit discount or premium, which is accreted (or amortized) into interest income over the life of the loan. Subsequent changes to the ACL on PCD loans are recorded through the PCL. For purchased loans that are not deemed to have experienced more than insignificant credit deterioration since origination and are therefore not deemed PCD, any discounts or premiums included in the purchase price are accreted (or amortized) over the contractual life of the individual loan.
Loans are charged off against the ACL, with any subsequent recoveries credited back to the ACL account. Expected recoveries may not exceed the aggregate of amounts previously charged off and expected to be charged off.
The following tables present the activity in the ACL - loans by portfolio segment for the three and six months ended June 30, 2024 and the three and six months ended June 30, 2023:
(In thousands)Balance at
March 31, 2024		Charge offsRecoveriesNet loans (charged off) recovered
(Benefit)/Provision for credit losses
Three Months Ended
June 30, 2024
Commercial Real Estate
CRE Nonowner Occupied10,417 — — — 230 10,647 
CRE Owner Occupied5,602 — 4 4 224 5,830 
Multifamily2,370 — — — 839 3,209 
Farmland2,002 — — — 57 2,059 
Commercial and industrial6,500 (56)— (56)490 6,934 
Construction
Residential Construction1,176 — — — (47)1,129 
Other Construction2,171 — — — (158)2,013 
Residential Mortgage
1-4 Family 1st Lien1,271 — 7 7 71 1,349 
1-4 Family Rental1,539 (2)22 20 145 1,704 
HELOC and Junior Liens457 — — — (60)397 
Consumer19 (4)11 7 (9)17 
Total33,524 (62)44 (18)1,782 35,288 

(In thousands)Balance at
December 31, 2023		Charge offsRecoveriesNet loans (charged off) recovered
(Benefit)/Provision for credit losses
Six Months Ended
June 30, 2024
Commercial Real Estate
CRE Nonowner Occupied10,267 — — — 380 10,647 
CRE Owner Occupied5,646 — 4 4 180 5,830 
Multifamily2,202 — — — 1,007 3,209 
Farmland2,064 — — — (5)2,059 
Commercial and industrial7,131 (56)— (56)(141)6,934 
Construction
Residential Construction1,256 — — — (127)1,129 
Other Construction2,146 — — — (133)2,013 
Residential Mortgage
1-4 Family 1st Lien1,207 (7)7 — 142 1,349 
1-4 Family Rental1,859 (2)22 20 (175)1,704 
HELOC and Junior Liens389 (21)— (21)29 397 
Consumer20 (26)17 (9)6 17 
Total34,187 (112)50 (62)1,163 35,288 
(In thousands)Balance at
March 31, 2023		PCD LoansCharge offsRecoveriesNet loans (charged off) recovered
Provision/(Benefit) for credit losses
Three Months Ended
June 30, 2023
Commercial Real Estate
CRE Nonowner Occupied$8,175 $312 $— $— $— $(615)$7,872 
CRE Owner Occupied3,079 2 — — — 1,060 4,141 
Multifamily1,159 — — — 85 1,244 
Farmland899 — — — 41 940 
Commercial and industrial11,269 5 (109)— (109)238 11,403 
Construction
Residential Construction1,423 12 — — — 294 1,729 
Other Construction2,208 1 — — — (271)1,938 
Residential Mortgage
1-4 Family 1st Lien1,356 4 — — — 268 1,628 
1-4 Family Rental1,066 — — — — (19)1,047 
HELOC and Junior Liens452 — — — — 18 470 
Consumer179 — (65)4 (61)58 176 
Unallocated— — — — — — — 
Total$31,265 $336 $(174)$4 $(170)$1,157 $32,588 
(In thousands)Balance at
December 31, 2022		CECL ImpactPCD LoansCharge offsRecoveriesNet loans (charged off) recovered
Provision/(Benefit) for credit losses
Six Months Ended
June 30, 2023
Commercial Real Estate
CRE Nonowner Occupied$8,284 $259 $312 $— $— $— $(983)$7,872 
CRE Owner Occupied2,916 91 2 (16)— (16)1,148 4,141 
Multifamily1,111 35 — — — 98 1,244 
Farmland831 26 — — — 83 940 
Commercial and industrial4,593 6,601 5 (220)— (220)424 11,403 
Construction
Residential Construction— 1,270 12 — — — 447 1,729 
Other Construction— 1,931 1 — — — 6 1,938 
Residential Mortgage
1-4 Family 1st Lien370 1,307 4 (4)— (4)(49)1,628 
1-4 Family Rental288 731 — 30 30 (2)1,047 
HELOC and Junior Liens661 (230)— — — 39 470 
Consumer29 154 (84)11 (73)66 176 
Unallocated(126)(244)— — — 370 — 
Total$18,957 $11,931 $336 $(324)$41 $(283)$1,647 $32,588 
The following table presents the ACL for loans and the amortized cost basis of the loans by the measurement methodology used as of June 30, 2024 and December 31, 2023:
(In thousands)ACL - LoansLoans
June 30, 2024Collectively Evaluated for Credit LossIndividually Evaluated for Credit LossTotal ACL - LoansCollectively Evaluated for Credit LossIndividually Evaluated for Credit LossTotal Loans
Commercial real estate
CRE Nonowner Occupied$10,293 $354 $10,647 $1,184,475 $2,575 $1,187,050 
CRE Owner Occupied5,830 — 5,830 622,114 1,642 623,756 
Multifamily3,202 7 3,209 374,010 165 374,175 
Farmland2,059 — 2,059 213,002 — 213,002 
Commercial and industrial6,258 676 6,934 690,244 2,459 692,703 
Construction
Residential Construction1,129 — 1,129 105,676 — 105,676 
Other Construction2,013 — 2,013 348,289 — 348,289 
Residential mortgage
1-4 Family 1st Lien1,349 — 1,349 325,772 1,530 327,302 
1-4 Family Rental1,704 — 1,704 351,206 348 351,554 
HELOC and Junior Liens397 — 397 133,406 1,280 134,686 
Consumer17 — 17 6,368 — 6,368 
Total$34,251 $1,037 $35,288 $4,354,562 $9,999 $4,364,561 
(In thousands)ACL - LoansLoans
December 31, 2023Collectively Evaluated for Credit LossIndividually Evaluated for Credit LossTotal ACL - LoansCollectively Evaluated for Credit LossIndividually Evaluated for Credit LossTotal Loans
Commercial real estate
CRE Nonowner Occupied$9,906 $361 $10,267 $1,145,048 $4,505 $1,149,553 
CRE Owner Occupied5,646 — 5,646 627,995 1,909 629,904 
Multifamily2,190 12 2,202 308,886 173 309,059 
Farmland2,064 — 2,064 212,690 — 212,690 
Commercial and industrial6,419 712 7,131 673,793 1,286 675,079 
Construction
Residential Construction1,256 — 1,256 92,270 573 92,843 
Other Construction2,146 — 2,146 360,368 2,256 362,624 
Residential mortgage
1-4 Family 1st Lien1,207 — 1,207 337,267 1,875 339,142 
1-4 Family Rental1,857 2 1,859 341,236 701 341,937 
HELOC and Junior Liens389 — 389 131,587 1,208 132,795 
Consumer20 — 20 7,166 — 7,166 
Total$33,100 $1,087 $34,187 $4,238,306 $14,486 $4,252,792 
Modifications to Borrowers Experiencing Financial Difficulty
From time to time, we may modify certain loans to borrowers who are experiencing financial difficulty. In some cases, these modifications may result in new loans. Loan modifications to borrowers experiencing financial difficulty may be in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay, or a term extension, or a combination thereof, among other things.

There were no new modifications to borrowers experiencing financial difficulty for the quarter ended June 30, 2024. Information related to loans modified (by type of modification), whereby the borrower was experiencing financial difficulty at the time of modification, is set forth in the following table:

(In thousands)Interest Only
Term Extension		Combination:
Interest Only and
Term Extension		Total% of Total Class of Financing Receivable
Six months ended June 30, 2024
Residential mortgage
HELOC and Junior Liens— — 92 92 0.07 %
Total Residential Mortgage— — — 092 92 0.01 %
Total$— $— $92 $92 


(In thousands)Interest OnlyTerm ExtensionCombination:
Interest Only and
Term Extension		Total% of Total Class of Financing Receivable
Three months ended June 30, 2023
Commercial and industrial$— $150 $— $150 0.02 %
Total$— $150 $— $150 
(In thousands)Interest OnlyTerm ExtensionCombination:
Interest Only and
Term Extension		Total% of Total Class of Financing Receivable
Six months ended June 30, 2023
Commercial real estate
CRE Owner Occupied$51 $— $180 $231 0.04 %
Total Commercial real estate$51 $— $180 $231 0.02 %
Commercial and industrial$— $150 $— $150 0.02 %
Total loans$51 $150 $180 $381 

The financial effects of the interest-only loan modifications reduced the monthly payment amounts for the borrower and the term extensions in the table above added a weighted-average of 2.0 years to the life of the loans, which also reduced the monthly payment amounts for the borrowers.
v3.24.2.u1
Deposits
 6 Months Ended
Jun. 30, 2024
Deposits [Abstract]  
Deposits Deposits
Deposits consisted of the following as of June 30, 2024 and December 31, 2023:
(Dollars in thousands)June 30, 2024% of Total DepositsDecember 31, 2023% of Total Deposits
Noninterest-bearing demand deposits$766,014 17.0 %$801,312 18.4 %
Interest-bearing demand deposits1,021,636 22.7 %947,372 21.8 %
Money market896,179 19.9 %850,674 19.6 %
Savings277,133 6.2 %288,404 6.6 %
Total demand and savings 2,960,962 65.8 %2,887,762 66.4 %
Time1,536,049 34.2 %1,458,450 33.6 %
Total deposits$4,497,011 100.0 %$4,346,212 100.0 %
Overdrafts$206 0.00 %$315 0.01 %
The scheduled maturities of time deposits at June 30, 2024 were as follows:
Time Deposits
(In thousands)Less than $250,000$250,000 or more
Maturing in 2024$699,424 $237,344 
Maturing in 2025380,228 138,800 
Maturing in 202639,854 4,547 
Maturing in 202718,302 1,198 
Maturing in 20289,295 259 
Maturing thereafter6,506 292 
$1,153,609 $382,440 
Mid Penn had $244.8 million in brokered certificates of deposits as of June 30, 2024 and December 31, 2023. As of June 30, 2024 and December 31, 2023, Mid Penn had $82.5 million and $96.7 million of CDAR deposits, respectively.
v3.24.2.u1
Derivative Financial Instruments
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
Mid Penn manages its exposure to certain interest rate risks through the use of derivatives; however, none are entered into for speculative purposes. In 2023, Mid Penn entered into outstanding derivative contracts designated as hedges. Mid Penn’s free-standing derivative financial instruments are required to be carried at their fair value on the Consolidated Balance Sheets.
Loan-level Interest Rate Swaps
Mid Penn enters into loan-level interest rate swaps with certain qualifying, creditworthy commercial loan customers to meet their interest rate risk management needs. Mid Penn simultaneously enters into parallel interest rate swaps with dealer counterparties, with identical notional amounts and terms. The net result of the offsetting customer and dealer counterparty swap agreements is that the customer pays a fixed rate of interest and Mid Penn receives a floating rate. Mid Penn’s loan-level interest rate swaps are considered derivatives but are not accounted for using hedge accounting.
Information related to loan level swaps is set forth in the following table:
June 30, 2024December 31, 2023
(Dollars in thousands)
 Interest rate swaps on loans with customers
      Notional amount $204,525 $187,192 
      Weighted average remaining term (years) 5.636.24
      Receive fixed rate (weighted average) 4.57 %4.59 %
      Pay variable rate (weighted average)7.47 %7.50 %
      Estimated fair value (1)
$11,543 $10,484 
June 30, 2024December 31, 2023
(Dollars in thousands)
 Interest rate swaps on loans with correspondents
      Notional amount $204,525 $187,192 
      Weighted average remaining term (years) 5.636.24
      Receive variable rate (weighted average) 7.47 %7.50 %
      Pay fixed rate (weighted average)4.57 %4.59 %
      Estimated fair value (2)
$11,543 $10,484 
(1) The net amount of the estimated fair value is disclosed in Other Liabilities on the Consolidated Balance Sheet.
(2) The net amount of the estimated fair value is disclosed in Other Assets on the Consolidated Balance Sheet.
Cash Flow Hedges of Interest Rate Risk

Mid Penn’s objectives in using interest rate derivatives are to reduce volatility in net interest income and to manage its exposure to interest rate movements. To accomplish this objective, Mid Penn primarily uses interest rate swaps as part of its interest rate risk management strategy.

Information related to cash flow hedges is set forth in the following table:
June 30, 2024December 31, 2023
(Dollars in thousands)
 Cash flow hedges
      Notional amount $190,000 $190,000 
      Weighted average remaining term (years) 1.722.22
      Pay fixed rate (weighted average) 3.74 %3.74 %
      Receive variable rate (weighted average)4.07 %4.07 %
      Estimated fair value (1)
$3,272 $1,460 
(1) The net amount of the estimated fair value is disclosed in Other Assets on the Consolidated Balance Sheet.

For derivatives designated and that qualify as cash flow hedges of interest rate risk, the unrealized gain or loss on the derivative is recorded in AOCI and subsequently reclassified into interest income in the same period during which the hedged transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest income as interest payments are made on Mid Penn’s variable-rate liabilities. During the next twelve months, Mid Penn estimates that an additional $2.2 million will be reclassified as a decrease to interest expense.
v3.24.2.u1
Accumulated Other Comprehensive (Loss) Income
 6 Months Ended
Jun. 30, 2024
Other Income and Expenses [Abstract]  
Accumulated Other Comprehensive (Loss) Income Accumulated Other Comprehensive (Loss) Income
The changes in each component of accumulated other comprehensive loss, net of taxes, are as follows:
(In thousands)
Unrealized Loss on
Securities		Unrealized
Holding Losses on
Interest Rate
Derivatives used in
Cash Flow Hedges		Defined Benefit
Plans		Total
Balance at March 31, 2024$(19,050)$2,230 $(127)$(16,947)
OCI before reclassifications(201)28 (3)(176)
Amounts reclassified from AOCI— — — — 
Balance at June 30, 2024$(19,251)$2,258 $(130)(17,123)
Balance at December 31, 2023$(17,339)$820 $(118)$(16,637)
OCI before reclassifications(1,912)1,438 5 (469)
Amounts reclassified from AOCI— — (17)(17)
Balance at June 30, 2024$(19,251)$2,258 $(130)$(17,123)
Balance at March 31, 2023$(17,350)$(128)$104 $(17,374)
OCI before reclassifications(3,261)2,837 (7)(431)
Amounts reclassified from AOCI— — — — 
Balance at June 30, 2023$(20,611)$2,709 $97 $(17,805)
Balance at December 31, 2022$(19,327)$— $111 $(19,216)
OCI before reclassifications(1,284)2,709 (2)1,423 
Amounts reclassified from AOCI— — (12)(12)
Balance at June 30, 2023$(20,611)$2,709 $97 $(17,805)
v3.24.2.u1
Fair Value Measurement
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurement Fair Value Measurement
The Corporation uses estimates of fair value in applying various accounting standards for its consolidated financial statements on either a recurring or non-recurring basis. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between willing and able market participants. Mid Penn groups its assets and liabilities measured at fair value in three hierarchy levels, based on the observability and transparency of the inputs. The fair value hierarchy is as follows:
Level 1 - Inputs that represent quoted prices for identical instruments in active markets.
Level 2 - Inputs that represent quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability.
Level 3 - Inputs that are largely unobservable, as little or no market data exists for the instrument being valued.
A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below.
There were no transfers of assets between fair value Level 1 and Level 2 during the three and six months ended June 30, 2024 or the year ended December 31, 2023.
The following tables illustrate the assets measured at fair value on a recurring basis and reported on the Consolidated Balance Sheets.
June 30, 2024
(In thousands)Level 1Level 2Level 3Total
Available-for-sale securities:
U.S. Treasury and U.S. government agencies$— $30,619 $— $30,619 
Mortgage-backed U.S. government agencies— 142,037 — 142,037 
State and political subdivision obligations— 3,591 — 3,591 
Corporate debt securities— 31,689 — 31,689 
Equity securities427 — — 427 
Loans held for sale— 8,420 — 8,420 
Other assets:
Derivative assets— 14,815 — 14,815 
Total$427 $231,171 $— $231,598 
December 31, 2023
(In thousands)Level 1Level 2Level 3Total
Available-for-sale securities:
U.S. Treasury and U.S. government agencies$— $35,649 $— $35,649 
Mortgage-backed U.S. government agencies— 152,683 — 152,683 
State and political subdivision obligations— 3,646 — 3,646 
Corporate debt securities— 31,577 — 31,577 
Equity securities438 — — 438 
Loans held for sale— 3,855 — 3,855 
Other assets:
Derivative assets— 11,944 — 11,944 
Total$438 $239,354 $— $239,792 
The valuation methodologies and assumptions used to estimate the fair value for the items in the preceding tables are as follows:
Available for sale investment securities - The fair value of equity and debt securities classified as available for sale is determined by obtaining quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities, but rather, relying on the securities’ relationship to other benchmark quoted prices.
Equity securities - The fair value of equity securities with readily determinable fair values is recorded on the Consolidated Balance Sheet, with realized and unrealized gains and losses reported in other expense on the Consolidated Statements of Income.
Loans held for sale - This category includes mortgage loans held for sale that are measured at fair value. Fair values as of June 30, 2024 were measured as the price that secondary market investors were offering for loans with similar characteristics.
Derivative assets - Interest rate swaps are measured by alternative pricing sources with reasonable levels of price transparency in markets that are not active. Based on the complex nature of interest rate swap agreements, the markets these instruments trade in are not as efficient and are less liquid than that of the more mature Level 1 markets. These markets do, however, have comparable, observable inputs in which an alternative pricing source values these assets in order to arrive at a fair market value. These characteristics classify interest rate swap agreements as Level 2.
Mortgage banking derivatives represent the fair value of mortgage banking derivatives in the form of interest rate locks and forward commitments with secondary market investors and the fair value of interest rate swaps. The fair values of Mid Penn’s interest rate locks, forward commitments and interest rate swaps represent the amounts that would be required to settle the derivative financial instruments at the balance sheet date. These characteristics classify interest rate swap agreements as Level 2. See "Note 5 - Derivative Financial Instruments," for additional information.
Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. The following table illustrates Level 3 financial instruments measured at fair value on a nonrecurring basis:
(In thousands)June 30, 2024December 31, 2023
Individually evaluated loans, net of ACL$8,962 $13,399 
Foreclosed assets held for sale441 293 
Net loans - This category consists of loans that were individually evaluated for credit losses, net of the related ACL, and have been classified as Level 3 assets. For 2023, the amount shown is the balance of individually evaluated loans reporting a specific allocation or that have been partially charged-off. All of these loans are considered collateral-dependent; therefore, all of Mid Penn’s impaired loans, whether reporting a specific allowance allocation or not, are considered collateral- dependent. Mid Penn utilized Level 3 inputs such as independent appraisals of the underlying collateral, which generally includes various Level 3 inputs which are not observable. Appraisals may be adjusted downward by management for qualitative factors such as economic conditions and estimated liquidation expenses.
Foreclosed assets held for sale - Values are based on appraisals that consider the sales prices of property in the proximate vicinity.
The following tables summarize the carrying amount, fair value, and placement in the fair value hierarchy of Mid Penn's financial instruments as of the periods presented:
June 30, 2024
Carrying
Amount		Estimated Fair Value
(In thousands)Level 1Level 2Level 3Total
Financial instruments - assets
 Cash and cash equivalents $105,726 $105,726 $— $— $105,726 
 Available-for-sale investment securities207,936 — 207,936 — 207,936 
Held-to-maturity investment securities393,320 — 347,275 — 347,275 
 Equity securities427 427 — — 427 
 Loans held for sale8,420 — 8,420 — 8,420 
Net loans 4,329,273 — — 4,329,703 4,329,703 
  Restricted investment in bank stocks13,930 13,930 — — 13,930 
  Accrued interest receivable27,381 27,381 — — 27,381 
  Derivative assets 14,815 — 14,815 — 14,815 
Financial instruments - liabilities
Deposits$4,497,011 $— $4,493,809 $— $4,493,809 
Short-term borrowings200,000 — 200,000 — 200,000 
Long-term debt (1)
20,693 — 20,693 — 20,693 
Subordinated debt46,047 — 40,612 — 40,612 
 Accrued interest payable18,139 18,139 — — 18,139 
 Derivative liabilities11,543 — 11,543 — 11,543 
(1)Long-term debt excludes finance lease obligations.
December 31, 2023
Estimated Fair Value
(In thousands)Carrying
Amount		Level 1Level 2Level 3Total
Financial instruments - assets
Cash and cash equivalents$96,763 $96,763 $— $— $96,763 
Available-for-sale investment securities223,555 — 223,555 — 223,555 
 Held-to-maturity investment securities399,128 — 357,521 — 357,521 
   Equity securities438 438 — — 438 
 Loans held for sale3,855 — 3,855 — 3,855 
Net loans 4,218,605 — — 4,221,926 4,221,926 
 Restricted investment in bank stocks16,768 16,768 — — 16,768 
 Accrued interest receivable25,820 25,820 — — 25,820 
 Derivative assets11,944 — 11,944 — 11,944 
Financial instruments - liabilities
Deposits$4,346,212 $— $4,337,723 $— $4,337,723 
Short-term debt241,532 — 241,532 — 241,532 
Long-term debt (1)
55,806 — 55,081 — 55,081 
Subordinated debt46,354 — 39,515 — 39,515 
 Accrued interest payable14,257 14,257 — — 14,257 
 Derivative liabilities10,484 — 10,484 — 10,484 
(1)Long-term debt excludes finance lease obligations.
The Bank’s outstanding and unfunded credit commitments and financial standby letters of credit were deemed to have no significant fair value as of June 30, 2024 and December 31, 2023.
v3.24.2.u1
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Guarantees and commitments to extend credit
Mid Penn is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. The commitments include various guarantees and commitments to extend credit. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Mid Penn evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management’s credit evaluation of the customer. Standby letters of credit and financial guarantees written are conditional commitments to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. Mid Penn had $61.9 million and $62.2 million of standby letters of credit outstanding as of June 30, 2024 and December 31, 2023, respectively. Mid Penn does not anticipate any losses because of these transactions. The amount of the liability as of June 30, 2024 and December 31, 2023 for payment under standby letters of credit issued was not considered material.
Mid Penn adopted FASB ASC Topic 326, effective January 1, 2023, which requires Mid Penn to estimate expected credit losses for OBS credit exposures which are not unconditionally cancellable. Mid Penn maintains a separate ACL on OBS credit exposures, including unfunded loan commitments and letters of credit, which is included in other liabilities on the accompanying Consolidated Balance Sheets.
The ACL - OBS is adjusted as a provision for OBS commitments in provision for credit losses. The estimate includes consideration of the likelihood that funding will occur, an estimate of exposure at default that is derived from utilization rate assumptions using a non-modeled approach, and PD and LGD estimates that are derived from the same models and approaches for Mid Penn's other loan portfolio segments described in "Note 4 - Loans and Allowance for Credit Losses - Loans" above, as these unfunded commitments share similar risk characteristics with these loan portfolio segments.
The ACL - OBS at June 30, 2024 was $3.1 million compared to $3.6 million at December 31, 2023. On January 1, 2023 in conjunction with adopting ASC 326, Mid Penn recorded an additional $3.1 million of provision for OBS which was included in the adoption cumulative effect adjustment. A benefit for OBS credit losses of $177 thousand and $496 thousand was recorded for the three and six months ended June 30, 2024, respectively. The benefit for OBS credit losses was $340 thousand and $629 thousand for the three and six months ended June 30, 2023, respectively.
Litigation
Mid Penn and its subsidiaries are subject to various pending and threatened legal proceedings or other matters arising out of the normal conduct of business in which claims for monetary damages are asserted. As of the date of this report, management, after consultation with legal counsel, does not anticipate that the aggregate ultimate liability arising out of such pending or threatened matters will be material to Mid Penn’s consolidated financial position. On at least a quarterly basis, Mid Penn assesses its liabilities and contingencies in connection with such matters. For those matters where it is probable that Mid Penn will incur losses and the amounts of the losses can be reasonably estimated, Mid Penn records an expense and corresponding liability in its consolidated financial statements. To the extent such matters could result in exposure in excess of that liability, the amount of such excess is not currently estimable. The range of losses for matters where an exposure is not currently estimable or considered probable is not believed to be material in the aggregate. This is based on information currently available to Mid Penn and involves elements of judgment and significant uncertainties. While Mid Penn does not believe that the outcome of pending or threatened litigation or other matters will be material to Mid Penn’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations for a particular reporting period in the future. In addition, regardless of the ultimate outcome of any such legal proceeding, inquiry or investigation, any such matter could cause Mid Penn to incur additional expenses, which could be significant, and possibly material, to Mid Penn’s results of operations in any future period.
v3.24.2.u1
Debt
 6 Months Ended
Jun. 30, 2024
Maturities of Long-Term Debt [Abstract]  
Debt Debt
Short-term FHLB and Correspondent Bank Borrowings
Total short-term borrowings were $200.0 million and $241.5 million as of June 30, 2024 and December 31, 2023, respectively. Short-term borrowings generally consist of federal funds purchased and advances from the FHLB with an original maturity of less than a year. Federal funds purchased from correspondent banks mature in one business day and reprice daily based on the Federal Funds rate. Advances from the FHLB are collateralized by the Bank’s investment in the common stock of the FHLB and by a blanket lien on selected loan receivables comprised principally of real estate secured loans within the Bank’s portfolio totaling $3.0 billion at June 30, 2024. The Bank had a short-term borrowing capacity from the FHLB as of June 30, 2024 up to the Bank’s unused borrowing capacity of $1.8 billion (equal to $2.1 billion of maximum borrowing capacity, less the aggregate amount of FHLB letter of credits securing public funds deposits, and other FHLB advances and obligations outstanding) upon satisfaction of any stock purchase requirements of the FHLB.
The Bank also has unused overnight lines of credit with other correspondent banks amounting to $35.0 million at June 30, 2024. No draws were made on these lines as of June 30, 2024 and December 31, 2023.
Long-term Debt
The following table presents a summary of long-term debt as of June 30, 2024 and December 31, 2023.
(Dollars in thousands)June 30, 2024December 31, 2023
FHLB fixed rate instruments:
Due January 2024, 1.10%
$— $10,000 
Due March 2024, 5.60%
— 25,000 
Due February 2026, 4.51%
20,000 20,000 
Due August 2026, 4.80%
672 782 
Due February 2027, 6.71%
21 24 
Total FHLB fixed rate instruments20,693 55,806 
Lease obligations included in long-term debt3,134 3,197 
Total long-term debt$23,827 $59,003 
As a member of the FHLB, the Bank can access a number of credit products which are utilized to provide liquidity. The FHLB fixed rate instruments obtained by the Bank are secured under the terms of a blanket collateral agreement with the FHLB consisting of FHLB stock and qualifying Bank loan receivables, principally real estate secured loans. The Bank also obtains letters of credit from the FHLB to secure certain public fund deposits of municipality and school district customers who agree to use of the FHLB letters of credit as a legally allowable alternative to investment pledging. These FHLB letter of credit commitments totaled $138.9 million and $153.5 million as of June 30, 2024 and December 31, 2023, respectively.
v3.24.2.u1
Subordinated Debt and Trust Preferred Securities
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Subordinated Debt and Trust Preferred Securities Subordinated Debt and Trust Preferred Securities
Subordinated Debt Assumed November 2021 with the Riverview Acquisition
On November 30, 2021, Mid Penn completed its acquisition of Riverview and assumed $25.0 million of subordinated notes (the "Riverview Notes"). In accordance with purchase accounting principles, the Riverview Notes were assigned a fair value premium of $2.3 million. The notes are treated as Tier 2 capital for regulatory reporting purposes.
The Riverview Notes were entered into by Riverview on October 6, 2020 with certain qualified institutional buyers and accredited institutional investors. The Riverview Notes have a maturity date of October 15, 2030 and initially bear interest, payable semi-annually, at a fixed annual rate of 5.75% per annum until October 15, 2025. Commencing on that date, the interest rate applicable to the outstanding principal amount due will be reset quarterly to an interest rate per annum equal to the then current three-month SOFR plus 563 bps, payable quarterly until maturity. Mid Penn may redeem the Riverview Notes at par, in whole or in part, at its option, anytime beginning on October 15, 2025.
Subordinated Debt Issued December 2020
On December 22, 2020, Mid Penn entered into agreements for and sold, at 100% of their principal amount, an aggregate of $12.2 million of its subordinated notes due December 2030 (the "December 2020 Notes") on a private placement basis to accredited investors. The December 2020 Notes are treated as Tier 2 capital for regulatory capital purposes.
The December 2020 Notes bear interest at a rate of 4.5% per year for the first five years and then float at the Wall Street Journal’s Prime Rate, provided that the interest rate applicable to the outstanding principal balance during the period the December 2020 Notes are floating will at no time be less than 4.5%. Interest is payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, beginning on March 31, 2021. The December 2020 Notes will mature on December 31, 2030 and are redeemable, in whole or in part, without premium or penalty, on any interest payment date on or after December 31, 2025 and prior to December 31, 2030, subject to any required regulatory approvals. Additionally, if (i) all or any portion of the December 2020 Notes cease to be deemed Tier 2 Capital, (ii) interest on the December 2020 Notes fails to be deductible for United States federal income tax purposes, or (iii) Mid Penn will be considered an "investment company," Mid Penn may redeem the December 2020 Notes, in whole but not in part, by giving 10 days’ notice to the holders of the December 2020 Notes. In the event of a redemption described in the previous sentence, Mid Penn will redeem the December 2020 Notes at 100% of the principal amount of the December 2020 Notes, plus accrued and unpaid interest thereon to but excluding the date of redemption.
Holders of the December 2020 Notes may not accelerate the maturity of the December 2020 Notes, except upon the bankruptcy, insolvency, liquidation, receivership or similar event of Mid Penn or Mid Penn Bank, its principal banking subsidiary. Related parties held $750 thousand of the December 2020 Notes as of June 30, 2024 and December 31, 2023.
Subordinated Debt Issued March 2020
On March 20, 2020, Mid Penn entered into agreements with accredited investors who purchased $15.0 million aggregate principal amount of its subordinated notes due March 2030 (the "March 2020 Notes"). As a result of Mid Penn’s merger with Riverview on November 30, 2021, $6.9 million of the March 2020 Notes balance was redeemed as Riverview was a holder of the March 2020 Notes. The balance of March 2020 Notes outstanding as of June 30, 2024 was $8.1 million. The March 2020 Notes are intended to be treated as Tier 2 capital for regulatory capital purposes.
The March 2020 Notes bear interest at a rate of 4.0% per year for the first five years and then float at the Wall Street Journal’s Prime Rate, provided that the interest rate applicable to the outstanding principal balance during the period the March 2020 Notes are floating will at no time be less than 4.25%. Interest is payable semi-annually in arrears on June 30 and December 30 of each year, beginning on June 30, 2020, for the first five years after issuance and will be payable quarterly in arrears thereafter on March 30, June 30, September 30 and December 30. The March 2020 Notes will mature on March 30, 2030 and are redeemable in whole or in part, without premium or penalty, at any time on or after March 30, 2025 and prior to March 30, 2030. Additionally, if all or any portion of the March 2020 Notes cease to be deemed Tier 2 Capital, Mid Penn may redeem, on any interest payment date, all or part of the 2020 Notes. In the event of a redemption described in the previous sentence, Mid Penn will redeem the March 2020 Notes at 100% of the principal amount of the March 2020 Notes, plus accrued and unpaid interest thereon to but excluding the date of redemption.
Holders of the March 2020 Notes may not accelerate the maturity of the March 2020 Notes, except upon the bankruptcy, insolvency, liquidation, receivership or similar event of Mid Penn or Mid Penn Bank, its principal banking subsidiary. Related parties held $1.7 million of the March 2020 Notes as of June 30, 2024 and December 31, 2023.
v3.24.2.u1
Common Stock and Earnings Per Share
 6 Months Ended
Jun. 30, 2024
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]  
Common Stock and Earnings Per Share Common Stock and Earnings Per Share
Treasury Stock Repurchase Program
Mid Penn adopted a treasury stock repurchase program ("Program") initially effective March 19, 2020, and renewed through April 24, 2025 by Mid Penn’s Board of Directors on April 24, 2024. The Program authorizes the repurchase of up to $15.0 million of Mid Penn’s outstanding common stock. Under the Program, Mid Penn conducts repurchases of its common stock through open market transactions (which may be by means of a trading plan adopted under SEC Rule 10b5-1) or in privately negotiated transactions. Repurchases under the Program are made at the discretion of management and are subject to market conditions and other factors. There is no guarantee as to the exact number of shares that Mid Penn may repurchase. The Program is able to be modified, suspended or terminated at any time, at Mid Penn’s discretion, based upon a number of factors, including liquidity, market conditions, the availability of alternative investment opportunities and other factors Mid Penn deems appropriate. The Program does not obligate Mid Penn to repurchase any shares.
During the six months ended June 30, 2024, Mid Penn repurchased 15,500 shares of common stock at an average price of $20.81. No shares were repurchased in the three months ended June 30, 2024. As of June 30, 2024, Mid Penn had repurchased 440,722 shares of common stock at an average price of $22.78 per share under the Program. The Program had approximately $5.0 million remaining available for repurchase as of June 30, 2024.
Dividend Reinvestment Plan
Under Mid Penn’s amended and restated DRIP, 300,000 shares of Mid Penn’s authorized but unissued common stock are reserved for issuance. The DRIP also allows for voluntary cash payments, within specified limits, to be used for the purchase of additional shares.
Equity Incentive Plans
On May 9, 2023, shareholders approved the 2023 Stock Incentive Plan, which authorizes Mid Penn to grant incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, deferred stock units and performance shares. The 2023 Plan was established for employees and directors of Mid Penn and the Bank, selected by the Compensation Committee of the Board of Directors, to incentivize the further success of the Company, and replaces the 2014 Restricted Stock Plan. The aggregate number of shares of common stock of the Company available for issuance under the Plan is 350,000 shares.
As of June 30, 2024, a total of 263,974 restricted shares were granted under the 2014 Plan, of which 85,802 shares were unvested. The 2014 Plan shares granted and vested resulted in $321 thousand and $252 thousand in share-based compensation expense for the three months ended June 30, 2024 and 2023, respectively. For the six months ended June 30, 2024 and 2023, the 2014 Plan shares granted and vested resulted in share-based compensation expense of $623 thousand and $1.1 million, respectively.
Share-based compensation expense relating to restricted stock is calculated using grant date fair value and is recognized on a straight-line basis over the vesting periods of the awards. Restricted shares granted to employees vest in equal amounts on the anniversary of the grant date over the vesting period and the expense is a component of salaries and benefits expense on the Consolidated Statement of Income. The employee grant vesting period is determined by the terms of each respective grant, with vesting periods generally between one and four years. Restricted shares granted to directors have a twelve-month vesting period, and the expense is a component of directors’ fees and benefits within the other expense line item on the Consolidated Statement of Income.
The following data shows the amounts used in computing basic and diluted earnings per common share:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands, except per share data)2024202320242023
Net income$11,771 $4,836 $23,904 $16,063 
Weighted average common shares outstanding (basic)16,576,28316,233,47316,572,10216,060,789
Effect of dilutive unvested restricted stock grants29,07021,80536,76135,481
Weighted average common shares outstanding (diluted)16,605,35316,255,27816,608,86316,096,270
Basic earnings per common share$0.71 $0.29 $1.44 $1.00 
Diluted earnings per common share0.71 0.29 1.44 1.00 
There were no antidilutive instruments at June 30, 2024 and 2023.
v3.24.2.u1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Pay vs Performance Disclosure            
Net income $ 11,771 $ 12,133 $ 4,836 $ 11,227 $ 23,904 $ 16,063
v3.24.2.u1
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 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
v3.24.2.u1
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
For all periods presented, the accompanying consolidated financial statements include the accounts of Mid Penn Bancorp, Inc., its wholly-owned subsidiary, Mid Penn Bank, and four nonbank subsidiaries, MPB Financial Services, LLC, which includes MPB Wealth Management, LLC (which ceased operating during the first quarter of 2024) and MPB Risk Services, LLC, and MPB Launchpad Fund I, LLC. As of June 30, 2024, the accounts and activities of these nonbank subsidiaries were not material to warrant separate disclosure or segment reporting. As a result, Mid Penn has only one reportable segment for financial reporting purposes. All material intercompany accounts and transactions have been eliminated in consolidation.
Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. Mid Penn believes the information presented is not misleading, and the disclosures are adequate. For comparative purposes, the June 30, 2023 and December 31, 2023 balances have been reclassified, when necessary, to conform to the 2024 presentation. Such reclassifications had no impact on net income or total shareholders’ equity. In the opinion of management, all adjustments necessary for fair presentation of the periods presented have been reflected in the accompanying consolidated financial statements. All such adjustments are of a normal, recurring nature. These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the 2023 Annual Report.
Subsequent Events
Subsequent Events
Mid Penn has evaluated events and transactions occurring subsequent to the balance sheet date of June 30, 2024 for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the issuance date of these consolidated financial statements.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates.
Material estimates subject to significant change include the allowance for credit losses, the expected cash flows and collateral values associated with loans that are individually evaluated for credit losses, the carrying value of other real
estate owned ("OREO"), the fair value of financial instruments, business combination fair value computations, the valuation of goodwill and other intangible assets, stock-based compensation and deferred income tax assets.
Accounting Standards adopted and Updated Significant Accounting Policy and Accounting Standards Pending Adoption
Accounting Standards adopted and Updated Significant Accounting Policy
On January 1, 2023, the Corporation adopted ASU 2016-13, Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaced the incurred loss methodology, and is referred to as CECL. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including loans and HTM debt securities. It also applies to OBS credit exposures (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor in accordance with ASC Topic 842. Prior to 2024, the provision for OBS credit losses was included in Other Expenses on the Statement of Income. Beginning March 31, 2024, the provision for OBS credit losses is included in Provision for Credit Losses on the Income Statement. Prior periods have been updated for presentation.
All other significant accounting policies used in preparation of the Consolidated Financial Statements are disclosed in the 2023 Annual Report. Those significant accounting policies are unchanged at June 30, 2024.
Accounting Standards Pending Adoption
ASU No. 2023-02: 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.
The amendments in this update permit reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. A reporting entity may make an accounting policy election to apply the proportional amortization method on a tax-credit-program-by-tax-credit-program basis rather than electing to apply the proportional amortization method at the reporting entity level or to individual investments. The amendments in this update also remove certain guidance for Qualified Affordable Housing Project investments and require the application of the delayed equity contribution guidance to all tax equity investments. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and must be applied on either a modified retrospective or a retrospective basis. Early adoption is permitted in any interim period, however if adopted in an interim period the entity shall adopt the amendments in this update as of the beginning of the fiscal year that includes the interim period. The Corporation does not expect the adoption of ASU No. 2023-02 to have a material impact on its consolidated financial statements.
ASU 2023-06: The FASB issued ASU 2023-06, Disclosure Improvements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative.
ASU 2023-06 amends the ASC to incorporate certain disclosure requirements from SEC Release No. 33-10532 - Disclosure Update and Simplification that was issued in 2018. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. ASU 2023-06 is not expected to have a significant impact on the Corporation's financial statements.
ASU 2023-07: The FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.
ASU 2023-07 amends the ASC to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 is not expected to have a significant impact on the Corporation's financial statements.
ASU 2023-09: The FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures.

ASU 2023-09 amends the ASC to enhance income tax disclosures by requiring entities to disclose income taxes paid (net of refunds received) disaggregated by federal, state and foreign taxes. Additionally, entities are required to disclose amounts greater than 5% of the total income taxes paid to an individual jurisdiction The amendments are effective for annual periods beginning after December 15, 2025. ASU 2023-09 is not expected to have a significant impact on the Corporation's financial statements.
ASU 2024-01—The FASB issued ASU 2024-01, Compensation - Stock Compensation (Topic 718): Scope application of profits interest and similar awards.

The amendments in the ASU apply to all reporting entities that account for profits interest awards as compensation to employees or nonemployees in return for goods or services. The amendments are effective for annual periods beginning after December 15, 2025, and interim periods within those annual periods. ASU 2024-01 is not expected to have a significant impact on the Corporation's financial statements.

ASU 2024-02: The FASB issued ASU 2024-02, Codification Improvements—Amendments to Remove References to the Concepts Statements.

This ASU contains amendments to the Codification that remove references to various FASB Concepts Statements. The amendments are effective for fiscal years beginning after Dec. 15, 2025. Early adoption is permitted. ASU 2024-02 is not expected to have a significant impact on the Corporation's financial statements.
AFS and HTM Securities
AFS Securities
ASU 2016-13 made targeted improvements to the accounting for credit losses on AFS securities. The concept of other-than-temporarily impaired has been replaced with the allowance for credit losses. Unlike HTM securities, AFS securities are evaluated on an individual level and pooling of securities is not allowed.
Quarterly, Mid Penn evaluates if any security has a fair value less than its amortized cost. Once these securities are identified, in order to determine whether a decline in fair value resulted from a credit loss or other factors, Mid Penn performs further analysis as outlined below:
•Review the extent to which the fair value is less than the amortized cost and observe the security’s lowest credit rating as reported by third-party credit ratings companies.
•The securities that violate the credit loss triggers above would be subjected to additional analysis that may include, but is not limited to: changes in market interest rates, changes in securities credit ratings, security type, service area economic factors, financial performance of the issuer/or obligor of the underlying issue and third-party guarantee.
•If Mid Penn determines that a credit loss exists, the credit portion of the allowance will be measured using a DCF analysis using the effective interest rate as of the security’s purchase date. The amount of credit loss Mid Penn records will be limited to the amount by which the amortized cost exceeds the fair value.
The DCF analysis utilizes contractual maturities, as well as third-party credit ratings and cumulative default rates published annually by a reputable third-party.
HTM Securities
ASU 2016-13 requires institutions to measure expected credit losses on financial assets carried at amortized cost on a collective or pool basis when similar risks exist. Mid Penn uses several levels of segmentation in order to measure expected credit losses:
•The portfolio is segmented into agency and non-agency securities.
•The non-agency securities are separated into state and political subdivision obligations and corporate debt securities.
Each individual segment is categorized by third-party credit ratings.
As discussed above, Mid Penn has determined that for certain classes of securities it would be appropriate to assume the expected credit loss to be zero, which include debt issuances of the U.S. Treasury and agencies and instrumentalities of the United States government. This assumption will be reviewed and attested to quarterly.
Collateral-Dependent Loans
Collateral-Dependent Loans
A financial asset is considered to be collateral-dependent when the debtor is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. For all classes of financial assets deemed collateral-dependent, Mid Penn elected the practical expedient to estimate expected credit losses based on the collateral’s fair value less cost to sell. In most cases, Mid Penn records a partial charge-off to reduce the loan’s carrying value to the collateral’s fair value less cost to sell. Substantially all of the collateral supporting collateral-dependent financial assets consists of various types of real estate, including residential properties; commercial properties such as retail centers, office buildings, and lodging; agriculture land; and vacant land.
Allowance for Credit Losses

Mid Penn’s ACL - loans methodology is based upon guidance within FASB ASC Subtopic 326-20, as well as regulatory guidance from the FDIC, its primary federal regulator. The ACL - loans is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Credit quality within the loan portfolio is continuously monitored by management and is reflected within the ACL - loans. The ACL - loans is an estimate of expected losses inherent within Mid Penn’s existing loan portfolio. The ACL - loans is adjusted through the PCL and reduced by the charge off of loan amounts, net of recoveries.
The loan loss estimation process involves procedures to appropriately consider the unique characteristics of Mid Penn’s loan portfolio segments. When computing allowance levels, credit loss assumptions are estimated using a model that categorizes loan pools based on loss history and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. Evaluations of the portfolio and individual credits are inherently subjective, as they require estimates, assumptions and judgments as to the facts and circumstances of particular situations. Determining the appropriateness of the allowance is complex and requires judgement by management about the effect of matters that are inherently uncertain. In future periods, evaluations of the overall loan portfolio, in light of the factors and forecasts then prevailing, may result in significant changes in the ACL and credit loss expense.
Mid Penn estimates the ACL using relevant available information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Mid Penn uses a third-party software application to calculate the quantitative portion of the ACL using a methodology and assumptions specific to each loan pool. The qualitative portion of the allowance is based on general economic conditions and other internal and external factors affecting Mid Penn as a whole, as well as specific loans. Factors considered include the following: lending process, concentrations of credit, and credit quality. The quantitative and qualitative portions of the allowance are added together to determine the total ACL, which reflects management’s expectations of future conditions based on reasonable and supportable forecasts.
The methodology for estimating the amount of expected credit losses reported in the ACL has two basic components: a collective, or pooled, component for estimated expected credit losses for pools of loans that share similar risk characteristics, and an asset-specific component involving individual loans that do not share risk characteristics with other loans and the measurement of expected credit losses for such individual loans. In estimating the ACL for the collective component, loans are segregated into loan pools based on loan purpose codes and similar risk characteristics.
The commercial real estate and residential mortgage loan portfolio segments include loans for both commercial and residential properties that are secured by real estate. The underwriting process for these loans includes analysis of the financial position and strength of both the borrower and, if applicable, guarantor, experience with similar projects in the past, market demand and prospects for successful completion of the proposed project within the established budget and schedule, values of underlying collateral, availability of permanent financing, maximum loan-to-value ratios, minimum equity requirements, acceptable amortization periods and minimum debt service coverage requirements, based on property type. The borrower’s financial strength and capacity to repay their obligations remain the primary focus of underwriting. Financial strength is evaluated based upon analytical tools that consider historical and projected cash flows and performance, in addition to analysis of the proposed project for income-producing properties. Additional support offered by guarantors is also considered when applicable. Ultimate repayment of these loans is sensitive to interest rate changes, general economic conditions, liquidity and availability of long-term financing.
The commercial and industrial loan portfolio segment includes commercial loans made to many types of businesses for various purposes, such as short-term working capital loans that are usually secured by accounts receivable and inventory,
equipment and fixed asset purchases that are secured by those assets, and term financing for those within Mid Penn’s geographic markets. Mid Penn’s credit underwriting process for commercial and industrial loans includes analysis of historical and projected cash flows and performance, evaluation of financial strength of both borrowers and guarantors as reflected in current and detailed financial information, and evaluation of underlying collateral to support the credit.
The consumer loan portfolio segment is comprised of loans which are underwritten after evaluating a borrower’s capacity, credit and collateral. Several factors are considered when assessing a borrower’s capacity, including the borrower’s employment, income, current debt, assets and level of equity in the property. Credit is assessed using a credit report that provides credit scores and the borrower’s current and past information about their credit history. Loan-to-value and debt-to-income ratios, loan amount and lien position are also considered in assessing whether to originate a loan. These borrowers are particularly susceptible to downturns in economic trends, such as conditions that negatively affect housing prices and demand and levels of unemployment.
Mid Penn utilizes a DCF method to estimate the quantitative portion of the allowance for credit losses for loan pools. The DCF is based off of historical losses, including peer data, which is correlated to national unemployment and GDP.
The PD and LGD measures are used in conjunction with prepayment data as inputs into the DCF model to calculate the cash flows at the individual loan level. Contractual cash flows based on loan terms are adjusted for PD, LGD and prepayments to derive loss cash flows. These loss cash flows are discounted by the loan’s coupon rate to arrive at the discounted cash flow based quantitative loss. The prepayment studies are updated quarterly by a third-party for each applicable pool.
Mid Penn determined that reasonable and supportable forecasts could be made for a twelve-month period for all of its loan pools. To the extent the lives of the loans in the LHFI portfolio extend beyond this forecast period, Mid Penn uses a reversion period of four quarters and reverts to the historical mean on a straight-line basis over the remaining life of the loans.
Qualitative factors used in the ACL methodology include the following:
•Lending process
•Concentrations of credit
•Peer Group Divergence
The ACL for individual loans, such as non-accrual and PCD, that do not share risk characteristics with other loans is measured as the difference between the discounted value of expected future cash flows, based on the effective interest rate at origination, and the amortized cost basis of the loan, or the net realizable value. The ACL is the difference between the loan’s net realizable value and its amortized cost basis (net of previous charge-offs and deferred loan fees and costs), except for collateral-dependent loans. A loan is collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the sale of the collateral. The expected credit loss for collateral-dependent loans is measured as the difference between the amortized cost basis of the loan and the fair value of the collateral, adjusted for the estimated cost to sell. Fair value estimates for collateral-dependent loans are derived from appraised values based on the current market value or the "as is" value of the collateral, normally from recently received and reviewed appraisals. Current appraisals are ordered on a regular basis based on the inspection date or more often if market conditions necessitate. Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may include construction or development status and the highest and best use of the property. These appraisals are reviewed by Mid Penn’s Real Estate Administration Group to ensure they are acceptable, and values are adjusted down for costs associated with asset disposal. If the calculated expected credit loss is determined to be permanent or not recoverable, the amount of the expected credit loss is charged off.
Mid Penn may also purchase loans or acquire loans through a business combination. At the purchase or acquisition date, loans are evaluated to determine whether there has been more than insignificant credit deterioration since origination. Loans that have experienced more than insignificant credit deterioration since origination are referred to as PCD loans. In its evaluation of whether a loan has experienced more than insignificant deterioration in credit quality since origination, Mid Penn takes into consideration loan grades, past due and nonaccrual status. Mid Penn may also consider external credit rating agency ratings for borrowers and for non-commercial loans, FICO score or band, probability of default levels, and number of times past due. At the purchase or acquisition date, the amortized cost basis of PCD loans is equal to the purchase price and an initial estimate of credit losses. The initial recognition of expected credit losses on PCD loans has no impact on net income. When the initial measurement of expected credit losses on PCD loans is calculated on a pooled loan basis, the expected credit losses are allocated to each loan within the pool. Any difference between the initial amortized
cost basis and the unpaid principal balance of the loan represents a noncredit discount or premium, which is accreted (or amortized) into interest income over the life of the loan. Subsequent changes to the ACL on PCD loans are recorded through the PCL. For purchased loans that are not deemed to have experienced more than insignificant credit deterioration since origination and are therefore not deemed PCD, any discounts or premiums included in the purchase price are accreted (or amortized) over the contractual life of the individual loan.
Loans are charged off against the ACL, with any subsequent recoveries credited back to the ACL account. Expected recoveries may not exceed the aggregate of amounts previously charged off and expected to be charged off.
Fair Value Measurement
The Corporation uses estimates of fair value in applying various accounting standards for its consolidated financial statements on either a recurring or non-recurring basis. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between willing and able market participants. Mid Penn groups its assets and liabilities measured at fair value in three hierarchy levels, based on the observability and transparency of the inputs. The fair value hierarchy is as follows:
Level 1 - Inputs that represent quoted prices for identical instruments in active markets.
Level 2 - Inputs that represent quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability.
Level 3 - Inputs that are largely unobservable, as little or no market data exists for the instrument being valued.
v3.24.2.u1
Business Combination (Tables)
 6 Months Ended
Jun. 30, 2024
Business Combinations [Abstract]  
Schedule of the Final Estimated Fair Value of the Assets Acquired and Liabilities and Equity Assumed
Estimated fair values of the assets acquired and liabilities assumed in the Brunswick Acquisition as of the closing date are as follows:
(In thousands)
Assets acquired:
Cash and cash equivalents$21,029 
Federal funds sold7,604 
Investment securities2,423 
Loans324,471 
Goodwill12,800 
Core deposit intangible999 
Premises and equipment4,568 
Cash surrender value of life insurance3,361 
Deferred income taxes6,393 
Accrued interest receivable1,171 
Other assets5,884 
Total assets acquired390,703 
Liabilities assumed:
Deposits:
Noninterest-bearing demand60,888 
Interest-bearing demand11,767 
Money Market47,362 
Savings14,203 
Time147,163 
Long-term debt60,136 
Accrued interest payable1,911 
Other liabilities1,613 
Total liabilities assumed345,043 
Consideration paid$45,660 
Cash paid$27,565 
Fair value of common stock issued18,095 
v3.24.2.u1
Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2024
Securities Financing Transactions Disclosures [Abstract]  
Schedule of Unrealized Gain (Loss) on Investments
The amortized cost and estimated fair value of investment securities for the periods presented:
June 30, 2024
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$31,693 $— $1,074 $30,619 
Mortgage-backed U.S. government agencies160,932 — 18,895 142,037 
State and political subdivision obligations4,320 — 729 3,591 
Corporate debt securities35,742 — 4,053 31,689 
Total available-for-sale debt securities232,687 — 24,751 207,936 
Held-to-maturity
U.S. Treasury and U.S. government agencies$245,873 $— $30,436 $215,437 
Mortgage-backed U.S. government agencies40,845 — 5,776 35,069 
State and political subdivision obligations81,142 — 7,719 73,423 
Corporate debt securities25,460 — 2,114 23,346 
Total held-to-maturity debt securities393,320 — 46,045 347,275 
Total$626,007 $— $70,796 $555,211 
December 31, 2023
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$36,637 $— $988 $35,649 
Mortgage-backed U.S. government agencies169,184 — 16,501 152,683 
State and political subdivision obligations4,332 — 686 3,646 
Corporate debt securities35,733 — 4,156 31,577 
Total available-for-sale debt securities$245,886 $— $22,331 $223,555 
Held-to-maturity     
U.S. Treasury and U.S. government agencies$245,805 $2 $28,676 $217,131 
Mortgage-backed U.S. government agencies43,818 — 5,523 38,295 
State and political subdivision obligations84,035 11 6,486 77,560 
Corporate debt securities25,470 — 935 24,535 
Total held-to-maturity debt securities399,128 13 41,620 357,521 
Total$645,014 $13 $63,951 $581,076 
Schedule of Fair Value and Unrealized Loss on Debt Security Investments in a Continuous Unrealized Loss Position
The following tables present gross unrealized losses and fair value of debt investment securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the periods presented:
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
June 30, 2024Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies—$— $— 17$30,619 $1,074 17$30,619 $1,074 
Mortgage-backed U.S. government agencies—— — 93142,037 18,895 93142,037 18,895 
State and political subdivision obligations—— — 83,591 729 83,591 729 
Corporate debt securities1413 87 1731,276 3,966 1831,689 4,053 
Total available-for-sale debt securities1$413 $87 135$207,523 $24,664 136$207,936 $24,751 
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies—— — 145215,437 30,436 145215,437 30,436 
Mortgage-backed U.S. government agencies—— — 6435,069 5,776 6435,069 5,776 
State and political subdivision obligations3952 18 18672,471 7,701 18973,423 7,719 
Corporate debt securities612,950 1,050 910,396 1,064 1523,346 2,114 
Total held-to-maturity debt securities913,902 1,068 404333,373 44,977 413347,275 46,045 
Total10$14,315 $1,155 539$540,896 $69,641 549$555,211 $70,796 
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
December 31, 2023Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses
Available-for-sale securities:
U.S. Treasury and U.S. government agencies—$— $— 19$35,649 $988 19$35,649 $988 
Mortgage-backed U.S. government agencies14,015 26 92148,668 16,475 93152,683 16,501 
State and political subdivision obligations—— — 83,646 686 83,646 686 
Corporate debt securities1410 90 1731,167 4,066 1831,577 4,156 
Total available-for-sale securities24,425 116 136219,130 22,215 138223,555 22,331 
Held-to-maturity securities:
U.S. Treasury and U.S. government agencies1$2,002 $— 144$215,129 $28,676 145$217,131 $28,676 
Mortgage-backed U.S. government agencies—— — 6438,295 5,523 6438,295 5,523 
State and political subdivision obligations258,729 63 17068,831 6,423 19577,560 6,486 
Corporate debt securities1936 57 1423,599 878 1524,535 935 
Total held to maturity securities2711,667 120 392345,854 41,500 419357,521 41,620 
Total29$16,092 $236 528$564,984 $63,715 557$581,076 $63,951 
Schedule of Investments Classified by Contractual Maturity Date
The table below illustrates the contractual maturity of debt investment securities at amortized cost and estimated fair value. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay with or without call or prepayment penalties.
(In thousands)Available-for-saleHeld-to-maturity
June 30, 2024Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in 1 year or less$12,000 $11,870 $17,458 $17,255 
Due after 1 year but within 5 years29,949 28,395 125,451 115,700 
Due after 5 years but within 10 years28,481 24,565 189,439 162,513 
Due after 10 years1,325 1,069 20,127 16,738 
71,755 65,899 352,475 312,206 
Mortgage-backed securities160,932 142,037 40,845 35,069 
$232,687 $207,936 $393,320 $347,275 
v3.24.2.u1
Loans and Allowance for Credit Losses - Loans (Tables)
 6 Months Ended
Jun. 30, 2024
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of Financing Receivable Credit Quality Indicators
Loans, net of unearned income, are summarized as follows by portfolio segment:
(In thousands)June 30, 2024December 31, 2023
Commercial real estate
CRE Nonowner Occupied$1,187,050 $1,149,553 
CRE Owner Occupied623,756 629,904 
Multifamily374,175 309,059 
Farmland213,002 212,690 
Total Commercial real estate2,397,983 2,301,206 
Commercial and industrial
692,703 675,079 
Construction
Residential Construction105,676 92,843 
Other Construction348,289 362,624 
Total Construction453,965 455,467 
Residential mortgage
1-4 Family 1st Lien327,302 339,142 
1-4 Family Rental351,554 341,937 
HELOC and Junior Liens134,686 132,795 
Total Residential Mortgage813,542 813,874 
Consumer6,368 7,166 
Total loans$4,364,561 $4,252,792 
June 30, 2024
Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized
Cost Basis
(In thousands)20242023202220212020PriorTotal
CRE Nonowner Occupied
Pass$37,757 $123,658 $352,395 $155,832 $137,304 $338,754 $13,338 $1,159,038 
Special mention$— $— $286 $— $— $8,563 $— $8,849 
Substandard or lower$— $— $— $— $3,186 $15,977 $— $19,163 
Total CRE Nonowner Occupied$37,757 $123,658 $352,681 $155,832 $140,490 $363,294 $13,338 $1,187,050 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
CRE Owner Occupied
Pass$22,571 $95,962 $112,787 $69,370 $84,057 $217,751 $12,469 $614,967 
Special mention$— $— $4,197 $— $— $1,196 $— $5,393 
Substandard or lower$— $— $— $202 $— $3,194 $— $3,396 
Total CRE Owner Occupied$22,571 $95,962 $116,984 $69,572 $84,057 $222,141 $12,469 $623,756 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $4 $— $4 
Net charge offs$— $— $— $— $— $4 $— $4 
Multifamily
Pass$1,760 $48,131 $68,902 $124,194 $40,289 $88,103 $2,573 $373,952 
Special mention$— $— $— $— $— $58 $— $58 
Substandard or lower$— $— $— $— $— $165 $— $165 
Total Multifamily$1,760 $48,131 $68,902 $124,194 $40,289 $88,326 $2,573 $374,175 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
Farmland
Pass$10,235 $31,232 $58,763 $43,714 $26,913 $26,001 $13,581 $210,439 
Special mention$— $130 $— $— $— $2,239 $194 $2,563 
Substandard or lower$— $— $— $— $— $— $— $— 
Total Farmland$10,235 $31,362 $58,763 $43,714 $26,913 $28,240 $13,775 $213,002 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
Commercial and industrial
Pass$61,938 $140,077 $93,136 $63,424 $26,521 $99,786 $198,482 $683,364 
Special mention$— $73 $349 $111 $— $2,083 $2,609 $5,225 
Substandard or lower$— $— $— $1,199 $— $2,300 $615 $4,114 
Total commercial and industrial$61,938 $140,150 $93,485 $64,734 $26,521 $104,169 $201,706 $692,703 
Gross charge offs$— $— $— $— $— $(56)$— $(56)
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $(56)$— $(56)
Residential Construction
Pass$13,518 $48,702 $22,406 $2,147 $266 $— $18,637 $105,676 
Special mention$— $— $— $— $— $— $— $— 
Substandard or lower— — — — — — — — 
Total Residential Construction13,518 48,702 22,406 2,147 266 — 18,637 105,676 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — — — — 
Net recoveries— — — — — — — — 
Other Construction
Pass16,732 126,782 141,267 15,126 15,240 13,480 17,852 346,479 
Special mention— — — — 1,810 — — 1,810 
Substandard or lower— — — — — — — — 
Total Other Construction16,732 126,782 141,267 15,126 17,050 13,480 17,852 348,289 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — — — — 
Net recoveries— — — — — — — — 
1-4 Family 1st Lien
Performing18,016 65,349 48,612 37,567 45,419 108,872 1,937 325,772 
Non-performing— — — — 220 1,310 — 1,530 
Total 1-4 Family 1st Lien18,016 65,349 48,612 37,567 45,639 110,182 1,937 327,302 
Gross charge offs— — — — — (7)— (7)
Current period recoveries— — — — — 7 — 7 
Net charge offs— — — — — — — — 
1-4 Family Rental
Performing17,981 61,319 91,335 62,865 37,115 76,677 1,885 349,177 
Non-performing— 148 — — 1,430 799 — 2,377 
Total 1-4 Family Rental17,981 61,467 91,335 62,865 38,545 77,476 1,885 351,554 
Gross charge offs— — — — — (2)— (2)
Current period recoveries— — — — — 22 — 22 
Net charge offs— — — — — 20 — 20 
HELOC and Junior Liens
Performing2,535 17,139 10,644 5,294 2,500 9,918 85,377 133,407 
Non-performing— 24 — — — 1,255 — 1,279 
Total HELOC and Junior Liens2,535 17,163 10,644 5,294 2,500 11,173 85,377 134,686 
Gross charge offs— — (21)— — — — (21)
Current period recoveries— — — — — — — — 
Net charge offs— — (21)— — — — (21)
Consumer
Performing1,606 1,147 524 470 160 267 2,194 6,368 
Non-performing— — — — — — — — 
Total consumer1,606 1,147 524 470 160 267 2,194 6,368 
Gross charge offs— — (2)— — (24)— (26)
Current period recoveries— — 1 — — 16 — 17 
Net charge offs— — (1)— — (8)— (9)
Total
Pass164,511 614,544 849,656 473,807 330,590 783,875 276,932 3,493,915 
Special mention— 203 4,832 111 1,810 14,139 2,803 23,898 
Substandard or lower— — — 1,401 3,186 21,636 615 26,838 
Performing40,138 144,954 151,115 106,196 85,194 195,734 91,393 814,724 
Nonperforming— 172 — — 1,650 3,364 — 5,186 
Total$204,649 $759,873 $1,005,603 $581,515 $422,430 $1,018,748 $371,743 $4,364,561 
December 31, 2023
Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized
Cost Basis
(In thousands)20232022202120202019PriorTotal
CRE Nonowner Occupied
Pass$119,793 $329,715 $160,583 $140,083 $86,629 $267,210 $10,030 $1,114,043 
Special mention$— $— $— $— $6,009 $7,926 $— $13,935 
Substandard or lower$— $5,209 $— $3,162 $229 $12,975 $— $21,575 
Total CRE Nonowner Occupied$119,793 $334,924 $160,583 $143,245 $92,867 $288,111 $10,030 $1,149,553 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
CRE Owner Occupied
Pass$92,561 $121,231 $75,711 $86,322 $60,761 $174,680 $14,388 $625,654 
Special mention$— $— $— $— $— $190 $— $190 
Substandard or lower$— $— $208 $— $— $3,852 $— $4,060 
Total CRE Owner Occupied$92,561 $121,231 $75,919 $86,322 $60,761 $178,722 $14,388 $629,904 
Gross charge offs$— $— $— $— $— $(16)$— $(16)
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $(16)$— $(16)
Multifamily
Pass$26,776 $44,450 $105,406 $41,713 $23,118 $65,480 $1,881 $308,824 
Special mention$— $— $— $— $— $62 $— $62 
Substandard or lower$— $— $— $— $— $173 $— $173 
Total Multifamily$26,776 $44,450 $105,406 $41,713 $23,118 $65,715 $1,881 $309,059 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
Farmland
Pass$32,525 $61,405 $45,211 $29,628 $7,926 $20,956 $11,962 $209,613 
Special mention$194 $— $— $— $— $2,304 $186 $2,684 
Substandard or lower$— $— $— $— $— $345 $48 $393 
Total Farmland$32,719 $61,405 $45,211 $29,628 $7,926 $23,605 $12,196 $212,690 
Gross charge offs$— $— $— $— $— $— $— $— 
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $— $— $— $— $— $— $— 
Commercial and industrial
Pass$158,824 $106,714 $68,448 $29,961 $50,206 $57,892 $188,714 $660,759 
Special mention$— $89 $2,224 $— $227 $2,200 $4,391 $9,131 
Substandard or lower$— $— $662 $— $— $1,978 $2,549 $5,189 
Total commercial and industrial$158,824 $106,803 $71,334 $29,961 $50,433 $62,070 $195,654 $675,079 
Gross charge offs$— $(100)$— $(111)$— $(27)$— $(238)
Current period recoveries$— $— $— $— $— $— $— $— 
Net charge offs$— $(100)$— $(111)$— $(27)$— $(238)
Residential construction
Pass$43,043 $25,159 $6,444 $979 $— $— $16,645 $92,270 
Special mention$— $— $— $— $— $— $— $— 
Substandard or lower— 573 — — — — — 573 
Total Residential construction43,043 25,732 6,444 979 — — 16,645 92,843 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — — — — 
Net recoveries— — — — — — — — 
Other construction
Pass110,553 156,055 48,214 21,378 10,247 5,856 6,617 358,920 
Special mention— — — 1,447 — — — 1,447 
Substandard or lower— — — — — 2,257 — 2,257 
Total Other construction110,553 156,055 48,214 22,825 10,247 8,113 6,617 362,624 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — — — — 
Net recoveries— — — — — — — — 
1-4 Family 1st Lien
Performing77,801 51,651 41,133 48,748 9,348 106,353 2,240 337,274 
Non-performing— — 37 218 — 1,613 — 1,868 
Total 1-4 Family 1st Lien77,801 51,651 41,170 48,966 9,348 107,966 2,240 339,142 
Gross charge offs— — — — — (13)— (13)
Current period recoveries— — — — — 8 — 8 
Net recoveries— — — — — (5)— (5)
1-4 Family Rental
Performing62,897 90,092 64,766 38,672 16,831 64,309 1,885 339,452 
Non-performing— — 56 1,252 — 1,177 — 2,485 
Total 1-4 Family Rental62,897 90,092 64,822 39,924 16,831 65,486 1,885 341,937 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — 30 — 30 
Net recoveries— — — — — 30 — 30 
HELOC and Junior Liens
Performing17,936 11,460 5,711 2,962 1,684 8,236 83,598 131,587 
Non-performing— — — — — 1,208 — 1,208 
Total HELOC and Junior Liens17,936 11,460 5,711 2,962 1,684 9,444 83,598 132,795 
Gross charge offs— — — — — — — — 
Current period recoveries— — — — — — — — 
Net recoveries— — — — — — — — 
Consumer
Performing2,361 754 649 273 223 103 2,803 7,166 
Non-performing— — — — — — — — 
Total consumer2,361 754 649 273 223 103 2,803 7,166 
Gross charge offs(86)— (10)(9)— (30)— (135)
Current period recoveries26 — — 1 — 5 — 32 
Net charge offs(60)— (10)(8)— (25)— (103)
Total
Pass584,075 844,729 510,017 350,064 238,887 592,074 250,237 3,370,083 
Special mention194 89 2,224 1,447 6,236 12,682 4,577 27,449 
Substandard or lower— 5,782 870 3,162 229 21,580 2,597 34,220 
Performing160,995 153,957 112,259 90,655 28,086 179,001 90,526 815,479 
Nonperforming— — 93 1,470 — 3,998 — 5,561 
Total745,264 1,004,557 625,463 446,798 273,438 809,335 347,937 4,252,792 
Schedule of Loan Portfolio Summarized by the Past Due Status
The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The classes of the loan portfolio summarized by the past due status as of June 30, 2024 and December 31, 2023, are summarized as follows:
(In thousands)30-59
Days Past
Due		60-89
Days Past
Due		Greater
than 90
Days		Total Past
Due		CurrentTotal LoansLoans
Receivable
> 90 Days and
Accruing
June 30, 2024
Commercial real estate
CRE Nonowner Occupied$7,850 $— $2,074 $9,924 $1,177,126 $1,187,050 $— 
CRE Owner Occupied693 — 955 1,648 622,108 623,756 — 
Multifamily— — — — 374,175 374,175 — 
Farmland505 — — 505 212,497 213,002 — 
Total Commercial real estate9,048 — 3,029 12,077 2,385,906 2,397,983 — 
Commercial and industrial493 414 1,548 2,455 690,248 692,703 — 
Construction
Residential Construction— — — — 105,676 105,676 — 
Other Construction— — — — 348,289 348,289 — 
Total Construction— — — — 453,965 453,965 — 
Residential mortgage
1-4 Family 1st Lien5,258 41 762 6,061 321,241 327,302 — 
1-4 Family Rental69 — 301 370 351,184 351,554 — 
HELOC and Junior Liens1,424 1,077 1,157 3,658 131,028 134,686 — 
Total Residential Mortgage6,751 1,118 2,220 10,089 803,453 813,542 — 
Consumer42 — — 42 6,326 6,368 — 
Total$16,334 $1,532 $6,797 $24,663 $4,339,898 $4,364,561 $— 

(In thousands)30-59
Days Past
Due		60-89
Days Past
Due		Greater
than 90
Days		Total Past
Due		CurrentTotal LoansLoans
Receivable
> 90 Days and
Accruing
December 31, 2023
Commercial real estate
CRE Nonowner Occupied$3,339 $682 $2,115 $6,136 $1,143,417 $1,149,553 $— 
CRE Owner Occupied1,734 — 859 2,593 627,311 629,904 — 
Multifamily— — — — 309,059 309,059 — 
Farmland— — — — 212,690 212,690 — 
Total Commercial real estate5,073 682 2,974 8,729 2,292,477 2,301,206 — 
Commercial and industrial638 24 1,270 1,932 673,147 675,079 — 
Construction
Residential Construction— 270 303 573 92,270 92,843 — 
Other Construction— — 2,256 2,256 360,368 362,624 — 
Total Construction— 270 2,559 2,829 452,638 455,467 — 
Residential mortgage
1-4 Family 1st Lien1,554 217 847 2,618 336,524 339,142 — 
1-4 Family Rental2,520 — 644 3,164 338,773 341,937 — 
HELOC and Junior Liens574 50 1,027 1,651 131,144 132,795 — 
Total Residential Mortgage4,648 267 2,518 7,433 806,441 813,874 — 
Consumer41 31 — 72 7,094 7,166 — 
Total$10,400 $1,274 $9,321 $20,995 $4,231,797 $4,252,792 $— 
Schedule of Non-accrual Loans by Classes of the Loan Portfolio Including Loans Acquired with Credit Deterioration Nonaccrual loans by loan portfolio class, including loans acquired with credit deterioration, as of June 30, 2024 and December 31, 2023 are summarized as follows:
June 30, 2024December 31, 2023
(In thousands)With a Related AllowanceWithout a Related AllowanceTotalWith a Related AllowanceWithout a Related AllowanceTotal
Commercial real estate
CRE Nonowner Occupied354 2,221 2,575 361 4,144 4,505 
CRE Owner Occupied— 1,642 1,642 — 1,909 1,909 
Multifamily88 77 165 93 80 173 
Total Commercial real estate442 3,940 4,382 454 6,133 6,587 
Commercial and industrial1,104 1,355 2,459 1,222 64 1,286 
Construction
Residential Construction— — — — 303 303 
Other Construction— — — — 2,256 2,256 
Total Construction— — — — 2,559 2,559 
Residential mortgage
1-4 Family 1st Lien— 1,530 1,530 — 1,875 1,875 
1-4 Family Rental— 348 348 2 699 701 
HELOC and Junior Liens— 1,280 1,280 — 1,208 1,208 
Total Residential Mortgage$— $— $3,158 $3,158 $2 $3,782 $3,784 
Consumer— — — — — — 
Total loans$1,546 $8,453 $9,999 $1,678 $12,538 $14,216 
Schedule of Allowance and Recorded Investment in Financing Receivables
The following tables present the activity in the ACL - loans by portfolio segment for the three and six months ended June 30, 2024 and the three and six months ended June 30, 2023:
(In thousands)Balance at
March 31, 2024		Charge offsRecoveriesNet loans (charged off) recovered
(Benefit)/Provision for credit losses
Three Months Ended
June 30, 2024
Commercial Real Estate
CRE Nonowner Occupied10,417 — — — 230 10,647 
CRE Owner Occupied5,602 — 4 4 224 5,830 
Multifamily2,370 — — — 839 3,209 
Farmland2,002 — — — 57 2,059 
Commercial and industrial6,500 (56)— (56)490 6,934 
Construction
Residential Construction1,176 — — — (47)1,129 
Other Construction2,171 — — — (158)2,013 
Residential Mortgage
1-4 Family 1st Lien1,271 — 7 7 71 1,349 
1-4 Family Rental1,539 (2)22 20 145 1,704 
HELOC and Junior Liens457 — — — (60)397 
Consumer19 (4)11 7 (9)17 
Total33,524 (62)44 (18)1,782 35,288 

(In thousands)Balance at
December 31, 2023		Charge offsRecoveriesNet loans (charged off) recovered
(Benefit)/Provision for credit losses
Six Months Ended
June 30, 2024
Commercial Real Estate
CRE Nonowner Occupied10,267 — — — 380 10,647 
CRE Owner Occupied5,646 — 4 4 180 5,830 
Multifamily2,202 — — — 1,007 3,209 
Farmland2,064 — — — (5)2,059 
Commercial and industrial7,131 (56)— (56)(141)6,934 
Construction
Residential Construction1,256 — — — (127)1,129 
Other Construction2,146 — — — (133)2,013 
Residential Mortgage
1-4 Family 1st Lien1,207 (7)7 — 142 1,349 
1-4 Family Rental1,859 (2)22 20 (175)1,704 
HELOC and Junior Liens389 (21)— (21)29 397 
Consumer20 (26)17 (9)6 17 
Total34,187 (112)50 (62)1,163 35,288 
(In thousands)Balance at
March 31, 2023		PCD LoansCharge offsRecoveriesNet loans (charged off) recovered
Provision/(Benefit) for credit losses
Three Months Ended
June 30, 2023
Commercial Real Estate
CRE Nonowner Occupied$8,175 $312 $— $— $— $(615)$7,872 
CRE Owner Occupied3,079 2 — — — 1,060 4,141 
Multifamily1,159 — — — 85 1,244 
Farmland899 — — — 41 940 
Commercial and industrial11,269 5 (109)— (109)238 11,403 
Construction
Residential Construction1,423 12 — — — 294 1,729 
Other Construction2,208 1 — — — (271)1,938 
Residential Mortgage
1-4 Family 1st Lien1,356 4 — — — 268 1,628 
1-4 Family Rental1,066 — — — — (19)1,047 
HELOC and Junior Liens452 — — — — 18 470 
Consumer179 — (65)4 (61)58 176 
Unallocated— — — — — — — 
Total$31,265 $336 $(174)$4 $(170)$1,157 $32,588 
(In thousands)Balance at
December 31, 2022		CECL ImpactPCD LoansCharge offsRecoveriesNet loans (charged off) recovered
Provision/(Benefit) for credit losses
Six Months Ended
June 30, 2023
Commercial Real Estate
CRE Nonowner Occupied$8,284 $259 $312 $— $— $— $(983)$7,872 
CRE Owner Occupied2,916 91 2 (16)— (16)1,148 4,141 
Multifamily1,111 35 — — — 98 1,244 
Farmland831 26 — — — 83 940 
Commercial and industrial4,593 6,601 5 (220)— (220)424 11,403 
Construction
Residential Construction— 1,270 12 — — — 447 1,729 
Other Construction— 1,931 1 — — — 6 1,938 
Residential Mortgage
1-4 Family 1st Lien370 1,307 4 (4)— (4)(49)1,628 
1-4 Family Rental288 731 — 30 30 (2)1,047 
HELOC and Junior Liens661 (230)— — — 39 470 
Consumer29 154 (84)11 (73)66 176 
Unallocated(126)(244)— — — 370 — 
Total$18,957 $11,931 $336 $(324)$41 $(283)$1,647 $32,588 
The following table presents the ACL for loans and the amortized cost basis of the loans by the measurement methodology used as of June 30, 2024 and December 31, 2023:
(In thousands)ACL - LoansLoans
June 30, 2024Collectively Evaluated for Credit LossIndividually Evaluated for Credit LossTotal ACL - LoansCollectively Evaluated for Credit LossIndividually Evaluated for Credit LossTotal Loans
Commercial real estate
CRE Nonowner Occupied$10,293 $354 $10,647 $1,184,475 $2,575 $1,187,050 
CRE Owner Occupied5,830 — 5,830 622,114 1,642 623,756 
Multifamily3,202 7 3,209 374,010 165 374,175 
Farmland2,059 — 2,059 213,002 — 213,002 
Commercial and industrial6,258 676 6,934 690,244 2,459 692,703 
Construction
Residential Construction1,129 — 1,129 105,676 — 105,676 
Other Construction2,013 — 2,013 348,289 — 348,289 
Residential mortgage
1-4 Family 1st Lien1,349 — 1,349 325,772 1,530 327,302 
1-4 Family Rental1,704 — 1,704 351,206 348 351,554 
HELOC and Junior Liens397 — 397 133,406 1,280 134,686 
Consumer17 — 17 6,368 — 6,368 
Total$34,251 $1,037 $35,288 $4,354,562 $9,999 $4,364,561 
(In thousands)ACL - LoansLoans
December 31, 2023Collectively Evaluated for Credit LossIndividually Evaluated for Credit LossTotal ACL - LoansCollectively Evaluated for Credit LossIndividually Evaluated for Credit LossTotal Loans
Commercial real estate
CRE Nonowner Occupied$9,906 $361 $10,267 $1,145,048 $4,505 $1,149,553 
CRE Owner Occupied5,646 — 5,646 627,995 1,909 629,904 
Multifamily2,190 12 2,202 308,886 173 309,059 
Farmland2,064 — 2,064 212,690 — 212,690 
Commercial and industrial6,419 712 7,131 673,793 1,286 675,079 
Construction
Residential Construction1,256 — 1,256 92,270 573 92,843 
Other Construction2,146 — 2,146 360,368 2,256 362,624 
Residential mortgage
1-4 Family 1st Lien1,207 — 1,207 337,267 1,875 339,142 
1-4 Family Rental1,857 2 1,859 341,236 701 341,937 
HELOC and Junior Liens389 — 389 131,587 1,208 132,795 
Consumer20 — 20 7,166 — 7,166 
Total$33,100 $1,087 $34,187 $4,238,306 $14,486 $4,252,792 
Schedule of Troubled Debt Restructurings Information related to loans modified (by type of modification), whereby the borrower was experiencing financial difficulty at the time of modification, is set forth in the following table:
(In thousands)Interest Only
Term Extension		Combination:
Interest Only and
Term Extension		Total% of Total Class of Financing Receivable
Six months ended June 30, 2024
Residential mortgage
HELOC and Junior Liens— — 92 92 0.07 %
Total Residential Mortgage— — — 092 92 0.01 %
Total$— $— $92 $92 


(In thousands)Interest OnlyTerm ExtensionCombination:
Interest Only and
Term Extension		Total% of Total Class of Financing Receivable
Three months ended June 30, 2023
Commercial and industrial$— $150 $— $150 0.02 %
Total$— $150 $— $150 
(In thousands)Interest OnlyTerm ExtensionCombination:
Interest Only and
Term Extension		Total% of Total Class of Financing Receivable
Six months ended June 30, 2023
Commercial real estate
CRE Owner Occupied$51 $— $180 $231 0.04 %
Total Commercial real estate$51 $— $180 $231 0.02 %
Commercial and industrial$— $150 $— $150 0.02 %
Total loans$51 $150 $180 $381 
v3.24.2.u1
Deposits (Tables)
 6 Months Ended
Jun. 30, 2024
Deposits [Abstract]  
Schedule of Deposit Liabilities, Type
Deposits consisted of the following as of June 30, 2024 and December 31, 2023:
(Dollars in thousands)June 30, 2024% of Total DepositsDecember 31, 2023% of Total Deposits
Noninterest-bearing demand deposits$766,014 17.0 %$801,312 18.4 %
Interest-bearing demand deposits1,021,636 22.7 %947,372 21.8 %
Money market896,179 19.9 %850,674 19.6 %
Savings277,133 6.2 %288,404 6.6 %
Total demand and savings 2,960,962 65.8 %2,887,762 66.4 %
Time1,536,049 34.2 %1,458,450 33.6 %
Total deposits$4,497,011 100.0 %$4,346,212 100.0 %
Overdrafts$206 0.00 %$315 0.01 %
Schedule of Time Deposits By Maturity Date Table
The scheduled maturities of time deposits at June 30, 2024 were as follows:
Time Deposits
(In thousands)Less than $250,000$250,000 or more
Maturing in 2024$699,424 $237,344 
Maturing in 2025380,228 138,800 
Maturing in 202639,854 4,547 
Maturing in 202718,302 1,198 
Maturing in 20289,295 259 
Maturing thereafter6,506 292 
$1,153,609 $382,440 
v3.24.2.u1
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amount and Fair Value of Mortgage Banking Derivative Financial Instruments
Information related to loan level swaps is set forth in the following table:
June 30, 2024December 31, 2023
(Dollars in thousands)
 Interest rate swaps on loans with customers
      Notional amount $204,525 $187,192 
      Weighted average remaining term (years) 5.636.24
      Receive fixed rate (weighted average) 4.57 %4.59 %
      Pay variable rate (weighted average)7.47 %7.50 %
      Estimated fair value (1)
$11,543 $10,484 
June 30, 2024December 31, 2023
(Dollars in thousands)
 Interest rate swaps on loans with correspondents
      Notional amount $204,525 $187,192 
      Weighted average remaining term (years) 5.636.24
      Receive variable rate (weighted average) 7.47 %7.50 %
      Pay fixed rate (weighted average)4.57 %4.59 %
      Estimated fair value (2)
$11,543 $10,484 
(1) The net amount of the estimated fair value is disclosed in Other Liabilities on the Consolidated Balance Sheet.
(2) The net amount of the estimated fair value is disclosed in Other Assets on the Consolidated Balance Sheet.
Information related to cash flow hedges is set forth in the following table:
June 30, 2024December 31, 2023
(Dollars in thousands)
 Cash flow hedges
      Notional amount $190,000 $190,000 
      Weighted average remaining term (years) 1.722.22
      Pay fixed rate (weighted average) 3.74 %3.74 %
      Receive variable rate (weighted average)4.07 %4.07 %
      Estimated fair value (1)
$3,272 $1,460 
(1) The net amount of the estimated fair value is disclosed in Other Assets on the Consolidated Balance Sheet.
v3.24.2.u1
Accumulated Other Comprehensive (Loss) Income (Tables)
 6 Months Ended
Jun. 30, 2024
Other Income and Expenses [Abstract]  
Schedule of Components of Accumulated Other Comprehensive (Loss) Income, Net of Taxes
The changes in each component of accumulated other comprehensive loss, net of taxes, are as follows:
(In thousands)
Unrealized Loss on
Securities		Unrealized
Holding Losses on
Interest Rate
Derivatives used in
Cash Flow Hedges		Defined Benefit
Plans		Total
Balance at March 31, 2024$(19,050)$2,230 $(127)$(16,947)
OCI before reclassifications(201)28 (3)(176)
Amounts reclassified from AOCI— — — — 
Balance at June 30, 2024$(19,251)$2,258 $(130)(17,123)
Balance at December 31, 2023$(17,339)$820 $(118)$(16,637)
OCI before reclassifications(1,912)1,438 5 (469)
Amounts reclassified from AOCI— — (17)(17)
Balance at June 30, 2024$(19,251)$2,258 $(130)$(17,123)
Balance at March 31, 2023$(17,350)$(128)$104 $(17,374)
OCI before reclassifications(3,261)2,837 (7)(431)
Amounts reclassified from AOCI— — — — 
Balance at June 30, 2023$(20,611)$2,709 $97 $(17,805)
Balance at December 31, 2022$(19,327)$— $111 $(19,216)
OCI before reclassifications(1,284)2,709 (2)1,423 
Amounts reclassified from AOCI— — (12)(12)
Balance at June 30, 2023$(20,611)$2,709 $97 $(17,805)
v3.24.2.u1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured at Fair Value on a Recurring Basis
The following tables illustrate the assets measured at fair value on a recurring basis and reported on the Consolidated Balance Sheets.
June 30, 2024
(In thousands)Level 1Level 2Level 3Total
Available-for-sale securities:
U.S. Treasury and U.S. government agencies$— $30,619 $— $30,619 
Mortgage-backed U.S. government agencies— 142,037 — 142,037 
State and political subdivision obligations— 3,591 — 3,591 
Corporate debt securities— 31,689 — 31,689 
Equity securities427 — — 427 
Loans held for sale— 8,420 — 8,420 
Other assets:
Derivative assets— 14,815 — 14,815 
Total$427 $231,171 $— $231,598 
December 31, 2023
(In thousands)Level 1Level 2Level 3Total
Available-for-sale securities:
U.S. Treasury and U.S. government agencies$— $35,649 $— $35,649 
Mortgage-backed U.S. government agencies— 152,683 — 152,683 
State and political subdivision obligations— 3,646 — 3,646 
Corporate debt securities— 31,577 — 31,577 
Equity securities438 — — 438 
Loans held for sale— 3,855 — 3,855 
Other assets:
Derivative assets— 11,944 — 11,944 
Total$438 $239,354 $— $239,792 
Schedule of Fair Value Measurements, Nonrecurring The following table illustrates Level 3 financial instruments measured at fair value on a nonrecurring basis:
(In thousands)June 30, 2024December 31, 2023
Individually evaluated loans, net of ACL$8,962 $13,399 
Foreclosed assets held for sale441 293 
Schedule of Fair Value, by Balance Sheet Grouping
The following tables summarize the carrying amount, fair value, and placement in the fair value hierarchy of Mid Penn's financial instruments as of the periods presented:
June 30, 2024
Carrying
Amount		Estimated Fair Value
(In thousands)Level 1Level 2Level 3Total
Financial instruments - assets
 Cash and cash equivalents $105,726 $105,726 $— $— $105,726 
 Available-for-sale investment securities207,936 — 207,936 — 207,936 
Held-to-maturity investment securities393,320 — 347,275 — 347,275 
 Equity securities427 427 — — 427 
 Loans held for sale8,420 — 8,420 — 8,420 
Net loans 4,329,273 — — 4,329,703 4,329,703 
  Restricted investment in bank stocks13,930 13,930 — — 13,930 
  Accrued interest receivable27,381 27,381 — — 27,381 
  Derivative assets 14,815 — 14,815 — 14,815 
Financial instruments - liabilities
Deposits$4,497,011 $— $4,493,809 $— $4,493,809 
Short-term borrowings200,000 — 200,000 — 200,000 
Long-term debt (1)
20,693 — 20,693 — 20,693 
Subordinated debt46,047 — 40,612 — 40,612 
 Accrued interest payable18,139 18,139 — — 18,139 
 Derivative liabilities11,543 — 11,543 — 11,543 
(1)Long-term debt excludes finance lease obligations.
December 31, 2023
Estimated Fair Value
(In thousands)Carrying
Amount		Level 1Level 2Level 3Total
Financial instruments - assets
Cash and cash equivalents$96,763 $96,763 $— $— $96,763 
Available-for-sale investment securities223,555 — 223,555 — 223,555 
 Held-to-maturity investment securities399,128 — 357,521 — 357,521 
   Equity securities438 438 — — 438 
 Loans held for sale3,855 — 3,855 — 3,855 
Net loans 4,218,605 — — 4,221,926 4,221,926 
 Restricted investment in bank stocks16,768 16,768 — — 16,768 
 Accrued interest receivable25,820 25,820 — — 25,820 
 Derivative assets11,944 — 11,944 — 11,944 
Financial instruments - liabilities
Deposits$4,346,212 $— $4,337,723 $— $4,337,723 
Short-term debt241,532 — 241,532 — 241,532 
Long-term debt (1)
55,806 — 55,081 — 55,081 
Subordinated debt46,354 — 39,515 — 39,515 
 Accrued interest payable14,257 14,257 — — 14,257 
 Derivative liabilities10,484 — 10,484 — 10,484 
(1)Long-term debt excludes finance lease obligations.
v3.24.2.u1
Debt (Tables)
 6 Months Ended
Jun. 30, 2024
Maturities of Long-Term Debt [Abstract]  
Schedule of Long-term Debt Outstanding by Due Date
The following table presents a summary of long-term debt as of June 30, 2024 and December 31, 2023.
(Dollars in thousands)June 30, 2024December 31, 2023
FHLB fixed rate instruments:
Due January 2024, 1.10%
$— $10,000 
Due March 2024, 5.60%
— 25,000 
Due February 2026, 4.51%
20,000 20,000 
Due August 2026, 4.80%
672 782 
Due February 2027, 6.71%
21 24 
Total FHLB fixed rate instruments20,693 55,806 
Lease obligations included in long-term debt3,134 3,197 
Total long-term debt$23,827 $59,003 
v3.24.2.u1
Common Stock and Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2024
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following data shows the amounts used in computing basic and diluted earnings per common share:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands, except per share data)2024202320242023
Net income$11,771 $4,836 $23,904 $16,063 
Weighted average common shares outstanding (basic)16,576,28316,233,47316,572,10216,060,789
Effect of dilutive unvested restricted stock grants29,07021,80536,76135,481
Weighted average common shares outstanding (diluted)16,605,35316,255,27816,608,86316,096,270
Basic earnings per common share$0.71 $0.29 $1.44 $1.00 
Diluted earnings per common share0.71 0.29 1.44 1.00 
v3.24.2.u1
Summary of Significant Accounting Policies (Details)
$ in Thousands
 6 Months Ended
Jul. 31, 2024
USD ($)
Jun. 30, 2024
nonbankSubsidiary
segment
Business Acquisition [Line Items]    
Number of nonbank subsidiaries | nonbankSubsidiary   4
Number of reportable segments | segment   1
Subsequent Event    
Business Acquisition [Line Items]    
Consideration transferred $ 2,000  
Additional consideration earn out period 3 years  
Additional consideration pursuant to earnout period $ 800  
v3.24.2.u1
Business Combination - Narrative (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
May 19, 2023
USD ($)
branch
shares
Jun. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
Business Acquisition [Line Items]          
Goodwill       $ 127,031 $ 127,031
PCD Loans   $ 336 $ 336    
Brunswick Bancorp Acquisition          
Business Acquisition [Line Items]          
Additional branches | branch 5        
Equity interest issued or issuable, number of shares (in shares) | shares 849,510        
Payments to acquire businesses gross $ 27,565        
Consideration transferred 45,700        
Goodwill 12,800        
Goodwill, expected tax deductible amount 0        
Amount at purchase price 18,700        
PCD Loans 336        
Discount (premium) 2,400        
Amount at par value 16,300        
Provision expense $ 2,000        
v3.24.2.u1
Business Combination - Schedule of Estimated Fair Value of Assets Acquired (Details) - USD ($)
$ in Thousands
 6 Months Ended
May 19, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Assets acquired:        
Goodwill   $ 127,031   $ 127,031
Deposits:        
Fair value of common stock issued [1]   $ 0 $ 18,095  
Brunswick Bancorp Acquisition        
Assets acquired:        
Cash and cash equivalents $ 21,029      
Federal funds sold 7,604      
Investment securities 2,423      
Loans 324,471      
Goodwill 12,800      
Core deposit intangible 999      
Premises and equipment 4,568      
Cash surrender value of life insurance 3,361      
Deferred income taxes 6,393      
Accrued interest receivable 1,171      
Other assets 5,884      
Total assets acquired 390,703      
Deposits:        
Noninterest-bearing demand 60,888      
Interest-bearing demand 11,767      
Money Market 47,362      
Savings 14,203      
Time 147,163      
Long-term debt 60,136      
Accrued interest payable 1,911      
Other liabilities 1,613      
Total liabilities assumed 345,043      
Consideration paid 45,660      
Cash paid 27,565      
Fair value of common stock issued $ 18,095      
[1] Additionally, 2,500 shares of restricted stock were paid out in cash resulting in $776 thousand of cash consideration relating to stock awards
v3.24.2.u1
Investment Securities - Narrative (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Securities Financing Transactions Disclosures [Abstract]      
AFS accrued interest $ 986    
Held-to-maturity securities 393,320   $ 399,128
HTM accrued interest 1,800    
Available-for-sale securities pledged as collateral 408,300   380,300
Letter of credit outstanding, amount 138,900   $ 153,500
Net gains $ 0 $ 0  
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] Accrued interest receivable    
v3.24.2.u1
Investment Securities - Schedule of Unrealized Gain (Loss) on Investments (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Available-for-sale    
Amortized Cost $ 232,687 $ 245,886
Gross Unrealized Gains 0 0
Gross Unrealized Losses 24,751 22,331
Estimated Fair Value 207,936 223,555
Held-to-maturity    
Amortized Cost 393,320 399,128
Gross Unrealized Gains 0 13
Gross Unrealized Losses 46,045 41,620
Estimated Fair Value 347,275 357,521
Amortized Cost 626,007 645,014
Gross Unrealized Gains 0 13
Gross Unrealized Losses 70,796 63,951
Estimated Fair Value 555,211 581,076
U.S. Treasury and U.S. government agencies    
Available-for-sale    
Amortized Cost 31,693 36,637
Gross Unrealized Gains 0 0
Gross Unrealized Losses 1,074 988
Estimated Fair Value 30,619 35,649
Held-to-maturity    
Amortized Cost 245,873 245,805
Gross Unrealized Gains 0 2
Gross Unrealized Losses 30,436 28,676
Estimated Fair Value 215,437 217,131
Mortgage-backed U.S. government agencies    
Available-for-sale    
Amortized Cost 160,932 169,184
Gross Unrealized Gains 0 0
Gross Unrealized Losses 18,895 16,501
Estimated Fair Value 142,037 152,683
Held-to-maturity    
Amortized Cost 40,845 43,818
Gross Unrealized Gains 0 0
Gross Unrealized Losses 5,776 5,523
Estimated Fair Value 35,069 38,295
State and political subdivision obligations    
Available-for-sale    
Amortized Cost 4,320 4,332
Gross Unrealized Gains 0 0
Gross Unrealized Losses 729 686
Estimated Fair Value 3,591 3,646
Held-to-maturity    
Amortized Cost 81,142 84,035
Gross Unrealized Gains 0 11
Gross Unrealized Losses 7,719 6,486
Estimated Fair Value 73,423 77,560
Corporate debt securities    
Available-for-sale    
Amortized Cost 35,742 35,733
Gross Unrealized Gains 0 0
Gross Unrealized Losses 4,053 4,156
Estimated Fair Value 31,689 31,577
Held-to-maturity    
Amortized Cost 25,460 25,470
Gross Unrealized Gains 0 0
Gross Unrealized Losses 2,114 935
Estimated Fair Value $ 23,346 $ 24,535
v3.24.2.u1
Investment Securities - Schedule of Fair Value and Unrealized Loss on Debt Security Investments in a Continuous Unrealized Loss Position (Details)
$ in Thousands
Jun. 30, 2024
USD ($)
security
Dec. 31, 2023
USD ($)
security
Debt Securities, Available-for-Sale [Line Items]    
Available-for-sale securities, Less than 12 Months: Number of Securities | security 1 2
Available-for-sale securities, Less than 12 Months: Fair Value $ 413 $ 4,425
Available-for-sale securities, Less than 12 Months: Unrealized Losses $ 87 $ 116
Available-for-sale securities, 12 Months or More: Number of Securities | security 135 136
Available-for-sale securities, 12 Months or More: Fair Value $ 207,523 $ 219,130
Available-for-sale securities, 12 Months or More: Unrealized Losses $ 24,664 $ 22,215
Available-for-sale securities, Total: Number of Securities | security 136 138
Available-for-sale securities, Total: Fair Value $ 207,936 $ 223,555
Available-for-sale securities, Total: Unrealized Losses $ 24,751 $ 22,331
Schedule of Held-to-Maturity Securities [Line Items]    
Held-to-maturity securities, Less than 12 Months: Number of Securities | security 9 27
Held-to-maturity securities, Less than 12 Months: Fair Value $ 13,902 $ 11,667
Held-to-maturity securities, Less than 12 Months: Unrealized Losses $ 1,068 $ 120
Held-to-maturity securities, 12 Months or More: Number of Securities | security 404 392
Held-to-maturity securities, 12 Months or More: Fair Value $ 333,373 $ 345,854
Held-to-maturity securities, 12 Months or More: Unrealized Losses $ 44,977 $ 41,500
Held-to-maturity securities, Total: Number of Securities | security 413 419
Held-to-maturity securities, Total: Fair Value $ 347,275 $ 357,521
Held-to-maturity securities, Total: Unrealized Losses $ 46,045 $ 41,620
Available-for-sale securities and Held-to-maturity securities, Less than 12 Months: Number of Securities | security 10 29
Available-for-sale securities and Held-to-maturity securities, Less than 12 Months: Fair Value $ 14,315 $ 16,092
Available-for-sale securities and Held-to-maturity securities, Less than 12 Months: Unrealized Losses $ 1,155 $ 236
Available-for-sale securities and Held-to-maturity securities,, 12 Months or More: Number of Securities | security 539 528
Available-for-sale securities and Held-to-maturity securities, 12 Months or More: Fair Value $ 540,896 $ 564,984
Available-for-sale securities and Held-to-maturity securities, 12 Months or More: Unrealized Losses $ 69,641 $ 63,715
Available-for-sale securities and Held-to-maturity securities, Total: Number of Securities | security 549 557
Available-for-sale securities and Held-to-maturity securities, Total: Fair Value $ 555,211 $ 581,076
Available-for-sale securities and Held-to-maturity securities, Total: Unrealized Losses $ 70,796 $ 63,951
U.S. Treasury and U.S. government agencies    
Debt Securities, Available-for-Sale [Line Items]    
Available-for-sale securities, Less than 12 Months: Number of Securities | security 0 0
Available-for-sale securities, Less than 12 Months: Fair Value $ 0 $ 0
Available-for-sale securities, Less than 12 Months: Unrealized Losses $ 0 $ 0
Available-for-sale securities, 12 Months or More: Number of Securities | security 17 19
Available-for-sale securities, 12 Months or More: Fair Value $ 30,619 $ 35,649
Available-for-sale securities, 12 Months or More: Unrealized Losses $ 1,074 $ 988
Available-for-sale securities, Total: Number of Securities | security 17 19
Available-for-sale securities, Total: Fair Value $ 30,619 $ 35,649
Available-for-sale securities, Total: Unrealized Losses $ 1,074 $ 988
Schedule of Held-to-Maturity Securities [Line Items]    
Held-to-maturity securities, Less than 12 Months: Number of Securities | security 0 1
Held-to-maturity securities, Less than 12 Months: Fair Value $ 0 $ 2,002
Held-to-maturity securities, Less than 12 Months: Unrealized Losses $ 0 $ 0
Held-to-maturity securities, 12 Months or More: Number of Securities | security 145 144
Held-to-maturity securities, 12 Months or More: Fair Value $ 215,437 $ 215,129
Held-to-maturity securities, 12 Months or More: Unrealized Losses $ 30,436 $ 28,676
Held-to-maturity securities, Total: Number of Securities | security 145 145
Held-to-maturity securities, Total: Fair Value $ 215,437 $ 217,131
Held-to-maturity securities, Total: Unrealized Losses $ 30,436 $ 28,676
Mortgage-backed U.S. government agencies    
Debt Securities, Available-for-Sale [Line Items]    
Available-for-sale securities, Less than 12 Months: Number of Securities | security 0 1
Available-for-sale securities, Less than 12 Months: Fair Value $ 0 $ 4,015
Available-for-sale securities, Less than 12 Months: Unrealized Losses $ 0 $ 26
Available-for-sale securities, 12 Months or More: Number of Securities | security 93 92
Available-for-sale securities, 12 Months or More: Fair Value $ 142,037 $ 148,668
Available-for-sale securities, 12 Months or More: Unrealized Losses $ 18,895 $ 16,475
Available-for-sale securities, Total: Number of Securities | security 93 93
Available-for-sale securities, Total: Fair Value $ 142,037 $ 152,683
Available-for-sale securities, Total: Unrealized Losses $ 18,895 $ 16,501
Schedule of Held-to-Maturity Securities [Line Items]    
Held-to-maturity securities, Less than 12 Months: Number of Securities | security 0 0
Held-to-maturity securities, Less than 12 Months: Fair Value $ 0 $ 0
Held-to-maturity securities, Less than 12 Months: Unrealized Losses $ 0 $ 0
Held-to-maturity securities, 12 Months or More: Number of Securities | security 64 64
Held-to-maturity securities, 12 Months or More: Fair Value $ 35,069 $ 38,295
Held-to-maturity securities, 12 Months or More: Unrealized Losses $ 5,776 $ 5,523
Held-to-maturity securities, Total: Number of Securities | security 64 64
Held-to-maturity securities, Total: Fair Value $ 35,069 $ 38,295
Held-to-maturity securities, Total: Unrealized Losses $ 5,776 $ 5,523
State and political subdivision obligations    
Debt Securities, Available-for-Sale [Line Items]    
Available-for-sale securities, Less than 12 Months: Number of Securities | security 0 0
Available-for-sale securities, Less than 12 Months: Fair Value $ 0 $ 0
Available-for-sale securities, Less than 12 Months: Unrealized Losses $ 0 $ 0
Available-for-sale securities, 12 Months or More: Number of Securities | security 8 8
Available-for-sale securities, 12 Months or More: Fair Value $ 3,591 $ 3,646
Available-for-sale securities, 12 Months or More: Unrealized Losses $ 729 $ 686
Available-for-sale securities, Total: Number of Securities | security 8 8
Available-for-sale securities, Total: Fair Value $ 3,591 $ 3,646
Available-for-sale securities, Total: Unrealized Losses $ 729 $ 686
Schedule of Held-to-Maturity Securities [Line Items]    
Held-to-maturity securities, Less than 12 Months: Number of Securities | security 3 25
Held-to-maturity securities, Less than 12 Months: Fair Value $ 952 $ 8,729
Held-to-maturity securities, Less than 12 Months: Unrealized Losses $ 18 $ 63
Held-to-maturity securities, 12 Months or More: Number of Securities | security 186 170
Held-to-maturity securities, 12 Months or More: Fair Value $ 72,471 $ 68,831
Held-to-maturity securities, 12 Months or More: Unrealized Losses $ 7,701 $ 6,423
Held-to-maturity securities, Total: Number of Securities | security 189 195
Held-to-maturity securities, Total: Fair Value $ 73,423 $ 77,560
Held-to-maturity securities, Total: Unrealized Losses $ 7,719 $ 6,486
Corporate debt securities    
Debt Securities, Available-for-Sale [Line Items]    
Available-for-sale securities, Less than 12 Months: Number of Securities | security 1 1
Available-for-sale securities, Less than 12 Months: Fair Value $ 413 $ 410
Available-for-sale securities, Less than 12 Months: Unrealized Losses $ 87 $ 90
Available-for-sale securities, 12 Months or More: Number of Securities | security 17 17
Available-for-sale securities, 12 Months or More: Fair Value $ 31,276 $ 31,167
Available-for-sale securities, 12 Months or More: Unrealized Losses $ 3,966 $ 4,066
Available-for-sale securities, Total: Number of Securities | security 18 18
Available-for-sale securities, Total: Fair Value $ 31,689 $ 31,577
Available-for-sale securities, Total: Unrealized Losses $ 4,053 $ 4,156
Schedule of Held-to-Maturity Securities [Line Items]    
Held-to-maturity securities, Less than 12 Months: Number of Securities | security 6 1
Held-to-maturity securities, Less than 12 Months: Fair Value $ 12,950 $ 936
Held-to-maturity securities, Less than 12 Months: Unrealized Losses $ 1,050 $ 57
Held-to-maturity securities, 12 Months or More: Number of Securities | security 9 14
Held-to-maturity securities, 12 Months or More: Fair Value $ 10,396 $ 23,599
Held-to-maturity securities, 12 Months or More: Unrealized Losses $ 1,064 $ 878
Held-to-maturity securities, Total: Number of Securities | security 15 15
Held-to-maturity securities, Total: Fair Value $ 23,346 $ 24,535
Held-to-maturity securities, Total: Unrealized Losses $ 2,114 $ 935
v3.24.2.u1
Investment Securities - Schedule of Investments Classified by Contractual Maturity Date (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Amortized Cost    
Due in 1 year or less $ 12,000  
Due after 1 year but within 5 years 29,949  
Due after 5 years but within 10 years 28,481  
Due after 10 years 1,325  
Available-for-sale securities, amortized cost basis, Total 71,755  
Amortized Cost 232,687 $ 245,886
Fair Value    
Due in 1 year or less 11,870  
Due after 1 year but within 5 years 28,395  
Due after 5 years but within 10 years 24,565  
Due after 10 years 1,069  
Available-for-sale securities, fair value, Total 65,899  
Available-for-sale securities, fair value 207,936 223,555
Amortized Cost    
Due in 1 year or less 17,458  
Due after 1 year but within 5 years 125,451  
Due after 5 years but within 10 years 189,439  
Due after 10 years 20,127  
Held-to-maturity securities, amortized cost 352,475  
Amortized Cost 393,320 399,128
Fair Value    
Due in 1 year or less 17,255  
Due after 1 year but within 5 years 115,700  
Due after 5 years but within 10 years 162,513  
Due after 10 years 16,738  
Held-to-maturity securities, fair value 312,206  
Held-to-maturity, Fair Value 347,275 $ 357,521
Mortgage-backed securities    
Amortized Cost    
Mortgage-backed securities 160,932  
Fair Value    
Mortgage-backed securities 142,037  
Amortized Cost    
Mortgage-backed securities 40,845  
Fair Value    
Mortgage-backed securities $ 35,069  
v3.24.2.u1
Loans and Allowance for Credit Losses - Loans - Schedule of Classes of the Loan Portfolio (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest $ 4,364,561 $ 4,252,792
Commercial real estate    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 2,397,983 2,301,206
Commercial real estate | CRE Nonowner Occupied    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 1,187,050 1,149,553
Commercial real estate | CRE Owner Occupied    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 623,756 629,904
Commercial real estate | Multifamily    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 374,175 309,059
Commercial real estate | Farmland    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 213,002 212,690
Commercial and industrial    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 692,703 675,079
Construction    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 453,965 455,467
Construction | Residential Construction    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 105,676 92,843
Construction | Other Construction    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 348,289 362,624
Residential mortgage    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 813,542 813,874
Residential mortgage | 1-4 Family 1st Lien    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 327,302 339,142
Residential mortgage | 1-4 Family Rental    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest 351,554 341,937
Residential mortgage | HELOC and Junior Liens    
Financing Receivable, Recorded Investment [Line Items]    
Loans, net of unearned interest $ 134,686 $ 132,795
v3.24.2.u1
Loans and Allowance for Credit Losses - Loans - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]          
Net deferred loan fees $ 3,800   $ 3,800   $ 4,200
Accrued interest $ 24,000   $ 24,000   22,100
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] Other assets   Other assets    
Interest income on nonaccrual loans $ 132 $ 281 $ 291 $ 463  
Foreclosure proceedings in process $ 892   $ 892   $ 121
Weighted average term increase from modification (in years)     2 years    
v3.24.2.u1
Loans and Allowance for Credit Losses - Loans - Schedule of Loan Portfolio Summarized by the Past Due Status (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest $ 4,364,561 $ 4,252,792
Loans Receivable > 90 Days and Accruing 0 0
Total Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 24,663 20,995
30-59 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 16,334 10,400
60-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 1,532 1,274
Greater than 90 Days    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 6,797 9,321
Current    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 4,339,898 4,231,797
Commercial real estate    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 2,397,983 2,301,206
Loans Receivable > 90 Days and Accruing 0 0
Commercial real estate | CRE Nonowner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 1,187,050 1,149,553
Commercial real estate | CRE Owner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 623,756 629,904
Commercial real estate | Multifamily    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 374,175 309,059
Commercial real estate | Farmland    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 213,002 212,690
Commercial real estate | Total Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 12,077 8,729
Commercial real estate | Total Past Due | CRE Nonowner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 9,924 6,136
Commercial real estate | Total Past Due | CRE Owner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 1,648 2,593
Commercial real estate | Total Past Due | Multifamily    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Commercial real estate | Total Past Due | Farmland    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 505 0
Commercial real estate | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 9,048 5,073
Commercial real estate | 30-59 Days Past Due | CRE Nonowner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 7,850 3,339
Commercial real estate | 30-59 Days Past Due | CRE Owner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 693 1,734
Commercial real estate | 30-59 Days Past Due | Multifamily    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Commercial real estate | 30-59 Days Past Due | Farmland    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 505 0
Commercial real estate | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 682
Commercial real estate | 60-89 Days Past Due | CRE Nonowner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 682
Commercial real estate | 60-89 Days Past Due | CRE Owner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Commercial real estate | 60-89 Days Past Due | Multifamily    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Commercial real estate | 60-89 Days Past Due | Farmland    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Commercial real estate | Greater than 90 Days    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 3,029 2,974
Commercial real estate | Greater than 90 Days | CRE Nonowner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 2,074 2,115
Commercial real estate | Greater than 90 Days | CRE Owner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 955 859
Commercial real estate | Greater than 90 Days | Multifamily    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Commercial real estate | Greater than 90 Days | Farmland    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Commercial real estate | Current    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 2,385,906 2,292,477
Commercial real estate | Current | CRE Nonowner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 1,177,126 1,143,417
Commercial real estate | Current | CRE Owner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 622,108 627,311
Commercial real estate | Current | Multifamily    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 374,175 309,059
Commercial real estate | Current | Farmland    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 212,497 212,690
Commercial and industrial    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 692,703 675,079
Loans Receivable > 90 Days and Accruing 0 0
Commercial and industrial | Total Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 2,455 1,932
Commercial and industrial | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 493 638
Commercial and industrial | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 414 24
Commercial and industrial | Greater than 90 Days    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 1,548 1,270
Commercial and industrial | Current    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 690,248 673,147
Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 453,965 455,467
Loans Receivable > 90 Days and Accruing 0 0
Construction | Residential Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 105,676 92,843
Construction | Other Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 348,289 362,624
Construction | Total Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 2,829
Construction | Total Past Due | Residential Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 573
Construction | Total Past Due | Other Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 2,256
Construction | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Construction | 30-59 Days Past Due | Residential Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Construction | 30-59 Days Past Due | Other Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Construction | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 270
Construction | 60-89 Days Past Due | Residential Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 270
Construction | 60-89 Days Past Due | Other Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Construction | Greater than 90 Days    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 2,559
Construction | Greater than 90 Days | Residential Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 303
Construction | Greater than 90 Days | Other Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 2,256
Construction | Current    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 453,965 452,638
Construction | Current | Residential Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 105,676 92,270
Construction | Current | Other Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 348,289 360,368
Residential mortgage    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 813,542 813,874
Loans Receivable > 90 Days and Accruing 0 0
Residential mortgage | 1-4 Family 1st Lien    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 327,302 339,142
Residential mortgage | 1-4 Family Rental    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 351,554 341,937
Loans Receivable > 90 Days and Accruing 0  
Residential mortgage | HELOC and Junior Liens    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 134,686 132,795
Residential mortgage | Total Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 10,089 7,433
Residential mortgage | Total Past Due | 1-4 Family 1st Lien    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 6,061 2,618
Residential mortgage | Total Past Due | 1-4 Family Rental    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 370 3,164
Residential mortgage | Total Past Due | HELOC and Junior Liens    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 3,658 1,651
Residential mortgage | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 6,751 4,648
Residential mortgage | 30-59 Days Past Due | 1-4 Family 1st Lien    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 5,258 1,554
Residential mortgage | 30-59 Days Past Due | 1-4 Family Rental    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 69 2,520
Residential mortgage | 30-59 Days Past Due | HELOC and Junior Liens    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 1,424 574
Residential mortgage | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 1,118 267
Residential mortgage | 60-89 Days Past Due | 1-4 Family 1st Lien    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 41 217
Residential mortgage | 60-89 Days Past Due | 1-4 Family Rental    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Residential mortgage | 60-89 Days Past Due | HELOC and Junior Liens    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 1,077 50
Residential mortgage | Greater than 90 Days    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 2,220 2,518
Residential mortgage | Greater than 90 Days | 1-4 Family 1st Lien    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 762 847
Residential mortgage | Greater than 90 Days | 1-4 Family Rental    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 301 644
Residential mortgage | Greater than 90 Days | HELOC and Junior Liens    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 1,157 1,027
Residential mortgage | Current    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 803,453 806,441
Residential mortgage | Current | 1-4 Family 1st Lien    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 321,241 336,524
Residential mortgage | Current | 1-4 Family Rental    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 351,184 338,773
Residential mortgage | Current | HELOC and Junior Liens    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 131,028 131,144
Consumer    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 6,368 7,166
Loans Receivable > 90 Days and Accruing 0 0
Consumer | Total Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 42 72
Consumer | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 42 41
Consumer | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 31
Consumer | Greater than 90 Days    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest 0 0
Consumer | Current    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans, net of unearned interest $ 6,326 $ 7,094
v3.24.2.u1
Loans and Allowance for Credit Losses - Loans - Schedule of Non-accrual Loans by Classes of the Loan Portfolio Including Loans Acquired With Credit Deterioration (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance $ 1,546 $ 1,678
Financing receivable, no allowance 8,453 12,538
Financing receivable, recorded investment, nonaccrual status 9,999 14,216
Commercial real estate    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 442 454
Financing receivable, no allowance 3,940 6,133
Financing receivable, recorded investment, nonaccrual status 4,382 6,587
Commercial real estate | CRE Nonowner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 354 361
Financing receivable, no allowance 2,221 4,144
Financing receivable, recorded investment, nonaccrual status 2,575 4,505
Commercial real estate | CRE Owner Occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 0 0
Financing receivable, no allowance 1,642 1,909
Financing receivable, recorded investment, nonaccrual status 1,642 1,909
Commercial real estate | Multifamily    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 88 93
Financing receivable, no allowance 77 80
Financing receivable, recorded investment, nonaccrual status 165 173
Commercial and industrial    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 1,104 1,222
Financing receivable, no allowance 1,355 64
Financing receivable, recorded investment, nonaccrual status 2,459 1,286
Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 0 0
Financing receivable, no allowance 0 2,559
Financing receivable, recorded investment, nonaccrual status 0 2,559
Construction | Residential Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 0 0
Financing receivable, no allowance 0 303
Financing receivable, recorded investment, nonaccrual status 0 303
Construction | Other Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 0 0
Financing receivable, no allowance 0 2,256
Financing receivable, recorded investment, nonaccrual status 0 2,256
Residential mortgage    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 0 2
Financing receivable, no allowance 3,158 3,782
Financing receivable, recorded investment, nonaccrual status 3,158 3,784
Residential mortgage | 1-4 Family 1st Lien    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 0 0
Financing receivable, no allowance 1,530 1,875
Financing receivable, recorded investment, nonaccrual status 1,530 1,875
Residential mortgage | 1-4 Family Rental    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 0 2
Financing receivable, no allowance 348 699
Financing receivable, recorded investment, nonaccrual status 348 701
Residential mortgage | HELOC and Junior Liens    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 0 0
Financing receivable, no allowance 1,280 1,208
Financing receivable, recorded investment, nonaccrual status 1,280 1,208
Consumer    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Financing receivable, with allowance 0 0
Financing receivable, no allowance 0 0
Financing receivable, recorded investment, nonaccrual status $ 0 $ 0
v3.24.2.u1
Loans and Allowance for Credit Losses - Loans - Schedule of Credit Quality Indicators (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Financing Receivable, Recorded Investment [Line Items]          
2024 $ 204,649   $ 204,649   $ 745,264
2023 759,873   759,873   1,004,557
2022 1,005,603   1,005,603   625,463
2021 581,515   581,515   446,798
2020 422,430   422,430   273,438
Prior 1,018,748   1,018,748   809,335
Revolving Loans Amortized Cost Basis 371,743   371,743   347,937
Loans, net of unearned interest 4,364,561   4,364,561   4,252,792
Gross charge offs          
Total (62) $ (174) (112) $ (324)  
Current period recoveries          
Total 44 4 50 41  
Performing          
Financing Receivable, Recorded Investment [Line Items]          
2024 40,138   40,138   160,995
2023 144,954   144,954   153,957
2022 151,115   151,115   112,259
2021 106,196   106,196   90,655
2020 85,194   85,194   28,086
Prior 195,734   195,734   179,001
Revolving Loans Amortized Cost Basis 91,393   91,393   90,526
Loans, net of unearned interest 814,724   814,724   815,479
Non-performing          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 172   172   0
2022 0   0   93
2021 0   0   1,470
2020 1,650   1,650   0
Prior 3,364   3,364   3,998
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 5,186   5,186   5,561
Pass          
Financing Receivable, Recorded Investment [Line Items]          
2024 164,511   164,511   584,075
2023 614,544   614,544   844,729
2022 849,656   849,656   510,017
2021 473,807   473,807   350,064
2020 330,590   330,590   238,887
Prior 783,875   783,875   592,074
Revolving Loans Amortized Cost Basis 276,932   276,932   250,237
Loans, net of unearned interest 3,493,915   3,493,915   3,370,083
Special mention          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   194
2023 203   203   89
2022 4,832   4,832   2,224
2021 111   111   1,447
2020 1,810   1,810   6,236
Prior 14,139   14,139   12,682
Revolving Loans Amortized Cost Basis 2,803   2,803   4,577
Loans, net of unearned interest 23,898   23,898   27,449
Substandard or lower          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   5,782
2022 0   0   870
2021 1,401   1,401   3,162
2020 3,186   3,186   229
Prior 21,636   21,636   21,580
Revolving Loans Amortized Cost Basis 615   615   2,597
Loans, net of unearned interest 26,838   26,838   34,220
Commercial real estate          
Financing Receivable, Recorded Investment [Line Items]          
Loans, net of unearned interest 2,397,983   2,397,983   2,301,206
Commercial real estate | CRE Nonowner Occupied          
Financing Receivable, Recorded Investment [Line Items]          
2024 37,757   37,757   119,793
2023 123,658   123,658   334,924
2022 352,681   352,681   160,583
2021 155,832   155,832   143,245
2020 140,490   140,490   92,867
Prior 363,294   363,294   288,111
Revolving Loans Amortized Cost Basis 13,338   13,338   10,030
Loans, net of unearned interest 1,187,050   1,187,050   1,149,553
Gross charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Current period recoveries          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Net charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total     0   0
Commercial real estate | CRE Nonowner Occupied | Pass          
Financing Receivable, Recorded Investment [Line Items]          
2024 37,757   37,757   119,793
2023 123,658   123,658   329,715
2022 352,395   352,395   160,583
2021 155,832   155,832   140,083
2020 137,304   137,304   86,629
Prior 338,754   338,754   267,210
Revolving Loans Amortized Cost Basis 13,338   13,338   10,030
Loans, net of unearned interest 1,159,038   1,159,038   1,114,043
Commercial real estate | CRE Nonowner Occupied | Special mention          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 286   286   0
2021 0   0   0
2020 0   0   6,009
Prior 8,563   8,563   7,926
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 8,849   8,849   13,935
Commercial real estate | CRE Nonowner Occupied | Substandard or lower          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   5,209
2022 0   0   0
2021 0   0   3,162
2020 3,186   3,186   229
Prior 15,977   15,977   12,975
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 19,163   19,163   21,575
Commercial real estate | CRE Owner Occupied          
Financing Receivable, Recorded Investment [Line Items]          
2024 22,571   22,571   92,561
2023 95,962   95,962   121,231
2022 116,984   116,984   75,919
2021 69,572   69,572   86,322
2020 84,057   84,057   60,761
Prior 222,141   222,141   178,722
Revolving Loans Amortized Cost Basis 12,469   12,469   14,388
Loans, net of unearned interest 623,756   623,756   629,904
Gross charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   (16)
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 (16) (16)
Current period recoveries          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     4   0
Revolving Loans Amortized Cost Basis     0   0
Total 4 0 4 0 0
Net charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     4   (16)
Revolving Loans Amortized Cost Basis     0   0
Total     4   (16)
Commercial real estate | CRE Owner Occupied | Pass          
Financing Receivable, Recorded Investment [Line Items]          
2024 22,571   22,571   92,561
2023 95,962   95,962   121,231
2022 112,787   112,787   75,711
2021 69,370   69,370   86,322
2020 84,057   84,057   60,761
Prior 217,751   217,751   174,680
Revolving Loans Amortized Cost Basis 12,469   12,469   14,388
Loans, net of unearned interest 614,967   614,967   625,654
Commercial real estate | CRE Owner Occupied | Special mention          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 4,197   4,197   0
2021 0   0   0
2020 0   0   0
Prior 1,196   1,196   190
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 5,393   5,393   190
Commercial real estate | CRE Owner Occupied | Substandard or lower          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   208
2021 202   202   0
2020 0   0   0
Prior 3,194   3,194   3,852
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 3,396   3,396   4,060
Commercial real estate | Multifamily          
Financing Receivable, Recorded Investment [Line Items]          
2024 1,760   1,760   26,776
2023 48,131   48,131   44,450
2022 68,902   68,902   105,406
2021 124,194   124,194   41,713
2020 40,289   40,289   23,118
Prior 88,326   88,326   65,715
Revolving Loans Amortized Cost Basis 2,573   2,573   1,881
Loans, net of unearned interest 374,175   374,175   309,059
Gross charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Current period recoveries          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Net charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total     0   0
Commercial real estate | Multifamily | Pass          
Financing Receivable, Recorded Investment [Line Items]          
2024 1,760   1,760   26,776
2023 48,131   48,131   44,450
2022 68,902   68,902   105,406
2021 124,194   124,194   41,713
2020 40,289   40,289   23,118
Prior 88,103   88,103   65,480
Revolving Loans Amortized Cost Basis 2,573   2,573   1,881
Loans, net of unearned interest 373,952   373,952   308,824
Commercial real estate | Multifamily | Special mention          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 58   58   62
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 58   58   62
Commercial real estate | Multifamily | Substandard or lower          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 165   165   173
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 165   165   173
Commercial real estate | Farmland          
Financing Receivable, Recorded Investment [Line Items]          
2024 10,235   10,235   32,719
2023 31,362   31,362   61,405
2022 58,763   58,763   45,211
2021 43,714   43,714   29,628
2020 26,913   26,913   7,926
Prior 28,240   28,240   23,605
Revolving Loans Amortized Cost Basis 13,775   13,775   12,196
Loans, net of unearned interest 213,002   213,002   212,690
Gross charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Current period recoveries          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Net charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total     0   0
Commercial real estate | Farmland | Pass          
Financing Receivable, Recorded Investment [Line Items]          
2024 10,235   10,235   32,525
2023 31,232   31,232   61,405
2022 58,763   58,763   45,211
2021 43,714   43,714   29,628
2020 26,913   26,913   7,926
Prior 26,001   26,001   20,956
Revolving Loans Amortized Cost Basis 13,581   13,581   11,962
Loans, net of unearned interest 210,439   210,439   209,613
Commercial real estate | Farmland | Special mention          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   194
2023 130   130   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 2,239   2,239   2,304
Revolving Loans Amortized Cost Basis 194   194   186
Loans, net of unearned interest 2,563   2,563   2,684
Commercial real estate | Farmland | Substandard or lower          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   345
Revolving Loans Amortized Cost Basis 0   0   48
Loans, net of unearned interest 0   0   393
Construction          
Financing Receivable, Recorded Investment [Line Items]          
Loans, net of unearned interest 453,965   453,965   455,467
Construction | Residential Construction          
Financing Receivable, Recorded Investment [Line Items]          
2024 13,518   13,518   43,043
2023 48,702   48,702   25,732
2022 22,406   22,406   6,444
2021 2,147   2,147   979
2020 266   266   0
Prior 0   0   0
Revolving Loans Amortized Cost Basis 18,637   18,637   16,645
Loans, net of unearned interest 105,676   105,676   92,843
Gross charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Current period recoveries          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Net charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total     0   0
Construction | Residential Construction | Pass          
Financing Receivable, Recorded Investment [Line Items]          
2024 13,518   13,518   43,043
2023 48,702   48,702   25,159
2022 22,406   22,406   6,444
2021 2,147   2,147   979
2020 266   266   0
Prior 0   0   0
Revolving Loans Amortized Cost Basis 18,637   18,637   16,645
Loans, net of unearned interest 105,676   105,676   92,270
Construction | Residential Construction | Special mention          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 0   0   0
Construction | Residential Construction | Substandard or lower          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   573
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 0   0   573
Construction | Other Construction          
Financing Receivable, Recorded Investment [Line Items]          
2024 16,732   16,732   110,553
2023 126,782   126,782   156,055
2022 141,267   141,267   48,214
2021 15,126   15,126   22,825
2020 17,050   17,050   10,247
Prior 13,480   13,480   8,113
Revolving Loans Amortized Cost Basis 17,852   17,852   6,617
Loans, net of unearned interest 348,289   348,289   362,624
Gross charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Current period recoveries          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Net charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total     0   0
Construction | Other Construction | Pass          
Financing Receivable, Recorded Investment [Line Items]          
2024 16,732   16,732   110,553
2023 126,782   126,782   156,055
2022 141,267   141,267   48,214
2021 15,126   15,126   21,378
2020 15,240   15,240   10,247
Prior 13,480   13,480   5,856
Revolving Loans Amortized Cost Basis 17,852   17,852   6,617
Loans, net of unearned interest 346,479   346,479   358,920
Construction | Other Construction | Special mention          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   1,447
2020 1,810   1,810   0
Prior 0   0   0
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 1,810   1,810   1,447
Construction | Other Construction | Substandard or lower          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   2,257
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 0   0   2,257
Residential mortgage          
Financing Receivable, Recorded Investment [Line Items]          
Loans, net of unearned interest 813,542   813,542   813,874
Residential mortgage | 1-4 Family 1st Lien          
Financing Receivable, Recorded Investment [Line Items]          
2024 18,016   18,016   77,801
2023 65,349   65,349   51,651
2022 48,612   48,612   41,170
2021 37,567   37,567   48,966
2020 45,639   45,639   9,348
Prior 110,182   110,182   107,966
Revolving Loans Amortized Cost Basis 1,937   1,937   2,240
Loans, net of unearned interest 327,302   327,302   339,142
Gross charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     (7)   (13)
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 (7) (4) (13)
Current period recoveries          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     7   8
Revolving Loans Amortized Cost Basis     0   0
Total 7 0 7 0 8
Net charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   (5)
Revolving Loans Amortized Cost Basis     0   0
Total     0   (5)
Residential mortgage | 1-4 Family 1st Lien | Performing          
Financing Receivable, Recorded Investment [Line Items]          
2024 18,016   18,016   77,801
2023 65,349   65,349   51,651
2022 48,612   48,612   41,133
2021 37,567   37,567   48,748
2020 45,419   45,419   9,348
Prior 108,872   108,872   106,353
Revolving Loans Amortized Cost Basis 1,937   1,937   2,240
Loans, net of unearned interest 325,772   325,772   337,274
Residential mortgage | 1-4 Family 1st Lien | Non-performing          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   37
2021 0   0   218
2020 220   220   0
Prior 1,310   1,310   1,613
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 1,530   1,530   1,868
Residential mortgage | 1-4 Family Rental          
Financing Receivable, Recorded Investment [Line Items]          
2024 17,981   17,981   62,897
2023 61,467   61,467   90,092
2022 91,335   91,335   64,822
2021 62,865   62,865   39,924
2020 38,545   38,545   16,831
Prior 77,476   77,476   65,486
Revolving Loans Amortized Cost Basis 1,885   1,885   1,885
Loans, net of unearned interest 351,554   351,554   341,937
Gross charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     (2)   0
Revolving Loans Amortized Cost Basis     0   0
Total (2) 0 (2) 0 0
Current period recoveries          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     22   30
Revolving Loans Amortized Cost Basis     0   0
Total 22 0 22 30 30
Net charge offs          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     20   30
Revolving Loans Amortized Cost Basis     0   0
Total     20   30
Residential mortgage | 1-4 Family Rental | Performing          
Financing Receivable, Recorded Investment [Line Items]          
2024 17,981   17,981   62,897
2023 61,319   61,319   90,092
2022 91,335   91,335   64,766
2021 62,865   62,865   38,672
2020 37,115   37,115   16,831
Prior 76,677   76,677   64,309
Revolving Loans Amortized Cost Basis 1,885   1,885   1,885
Loans, net of unearned interest 349,177   349,177   339,452
Residential mortgage | 1-4 Family Rental | Non-performing          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 148   148   0
2022 0   0   56
2021 0   0   1,252
2020 1,430   1,430   0
Prior 799   799   1,177
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 2,377   2,377   2,485
Residential mortgage | HELOC and Junior Liens          
Financing Receivable, Recorded Investment [Line Items]          
2024 2,535   2,535   17,936
2023 17,163   17,163   11,460
2022 10,644   10,644   5,711
2021 5,294   5,294   2,962
2020 2,500   2,500   1,684
Prior 11,173   11,173   9,444
Revolving Loans Amortized Cost Basis 85,377   85,377   83,598
Loans, net of unearned interest 134,686   134,686   132,795
Gross charge offs          
2024     0   0
2023     0   0
2022     (21)   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 (21) 0 0
Current period recoveries          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Net charge offs          
2024     0   0
2023     0   0
2022     (21)   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total     (21)   0
Residential mortgage | HELOC and Junior Liens | Performing          
Financing Receivable, Recorded Investment [Line Items]          
2024 2,535   2,535   17,936
2023 17,139   17,139   11,460
2022 10,644   10,644   5,711
2021 5,294   5,294   2,962
2020 2,500   2,500   1,684
Prior 9,918   9,918   8,236
Revolving Loans Amortized Cost Basis 85,377   85,377   83,598
Loans, net of unearned interest 133,407   133,407   131,587
Residential mortgage | HELOC and Junior Liens | Non-performing          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 24   24   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 1,255   1,255   1,208
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest 1,279   1,279   1,208
Commercial and industrial          
Financing Receivable, Recorded Investment [Line Items]          
2024 61,938   61,938   158,824
2023 140,150   140,150   106,803
2022 93,485   93,485   71,334
2021 64,734   64,734   29,961
2020 26,521   26,521   50,433
Prior 104,169   104,169   62,070
Revolving Loans Amortized Cost Basis 201,706   201,706   195,654
Loans, net of unearned interest 692,703   692,703   675,079
Gross charge offs          
2024     0   0
2023     0   (100)
2022     0   0
2021     0   (111)
2020     0   0
Prior     (56)   (27)
Revolving Loans Amortized Cost Basis     0   0
Total (56) (109) (56) (220) (238)
Current period recoveries          
2024     0   0
2023     0   0
2022     0   0
2021     0   0
2020     0   0
Prior     0   0
Revolving Loans Amortized Cost Basis     0   0
Total 0 0 0 0 0
Net charge offs          
2024     0   0
2023     0   (100)
2022     0   0
2021     0   (111)
2020     0   0
Prior     (56)   (27)
Revolving Loans Amortized Cost Basis     0   0
Total     (56)   (238)
Commercial and industrial | Pass          
Financing Receivable, Recorded Investment [Line Items]          
2024 61,938   61,938   158,824
2023 140,077   140,077   106,714
2022 93,136   93,136   68,448
2021 63,424   63,424   29,961
2020 26,521   26,521   50,206
Prior 99,786   99,786   57,892
Revolving Loans Amortized Cost Basis 198,482   198,482   188,714
Loans, net of unearned interest 683,364   683,364   660,759
Commercial and industrial | Special mention          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 73   73   89
2022 349   349   2,224
2021 111   111   0
2020 0   0   227
Prior 2,083   2,083   2,200
Revolving Loans Amortized Cost Basis 2,609   2,609   4,391
Loans, net of unearned interest 5,225   5,225   9,131
Commercial and industrial | Substandard or lower          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   662
2021 1,199   1,199   0
2020 0   0   0
Prior 2,300   2,300   1,978
Revolving Loans Amortized Cost Basis 615   615   2,549
Loans, net of unearned interest 4,114   4,114   5,189
Consumer          
Financing Receivable, Recorded Investment [Line Items]          
2024 1,606   1,606   2,361
2023 1,147   1,147   754
2022 524   524   649
2021 470   470   273
2020 160   160   223
Prior 267   267   103
Revolving Loans Amortized Cost Basis 2,194   2,194   2,803
Loans, net of unearned interest 6,368   6,368   7,166
Gross charge offs          
2024     0   (86)
2023     0   0
2022     (2)   (10)
2021     0   (9)
2020     0   0
Prior     (24)   (30)
Revolving Loans Amortized Cost Basis     0   0
Total (4) (65) (26) (84) (135)
Current period recoveries          
2024     0   26
2023     0   0
2022     1   0
2021     0   1
2020     0   0
Prior     16   5
Revolving Loans Amortized Cost Basis     0   0
Total 11 $ 4 17 $ 11 32
Net charge offs          
2024     0   (60)
2023     0   0
2022     (1)   (10)
2021     0   (8)
2020     0   0
Prior     (8)   (25)
Revolving Loans Amortized Cost Basis     0   0
Total     (9)   (103)
Consumer | Performing          
Financing Receivable, Recorded Investment [Line Items]          
2024 1,606   1,606   2,361
2023 1,147   1,147   754
2022 524   524   649
2021 470   470   273
2020 160   160   223
Prior 267   267   103
Revolving Loans Amortized Cost Basis 2,194   2,194   2,803
Loans, net of unearned interest 6,368   6,368   7,166
Consumer | Non-performing          
Financing Receivable, Recorded Investment [Line Items]          
2024 0   0   0
2023 0   0   0
2022 0   0   0
2021 0   0   0
2020 0   0   0
Prior 0   0   0
Revolving Loans Amortized Cost Basis 0   0   0
Loans, net of unearned interest $ 0   $ 0   $ 0
v3.24.2.u1
Loans and Allowance for Credit Losses - Loans - Schedule of ACL Loans by Portfolio Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance $ 33,524 $ 31,265 $ 34,187 $ 18,957 $ 18,957
PCD Loans   336   336  
Charge offs (62) (174) (112) (324)  
Recoveries 44 4 50 41  
Net loans (charged off) recovered (18) (170) (62) (283)  
Provision for credit losses 1,782 1,157 1,163 1,647  
Allowance for loan losses, ending balance 35,288 32,588 35,288 32,588 34,187
Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       11,931 11,931
Commercial real estate | CRE Nonowner Occupied          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance 10,417 8,175 10,267 8,284 8,284
PCD Loans   312   312  
Charge offs 0 0 0 0 0
Recoveries 0 0 0 0 0
Net loans (charged off) recovered 0 0 0 0  
Provision for credit losses 230 (615) 380 (983)  
Allowance for loan losses, ending balance 10,647 7,872 10,647 7,872 10,267
Commercial real estate | CRE Nonowner Occupied | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       259 259
Commercial real estate | CRE Owner Occupied          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance 5,602 3,079 5,646 2,916 2,916
PCD Loans   2   2  
Charge offs 0 0 0 (16) (16)
Recoveries 4 0 4 0 0
Net loans (charged off) recovered 4 0 4 (16)  
Provision for credit losses 224 1,060 180 1,148  
Allowance for loan losses, ending balance 5,830 4,141 5,830 4,141 5,646
Commercial real estate | CRE Owner Occupied | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       91 91
Commercial real estate | Multifamily          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance 2,370 1,159 2,202 1,111 1,111
PCD Loans      
Charge offs 0 0 0 0 0
Recoveries 0 0 0 0 0
Net loans (charged off) recovered 0 0 0 0  
Provision for credit losses 839 85 1,007 98  
Allowance for loan losses, ending balance 3,209 1,244 3,209 1,244 2,202
Commercial real estate | Multifamily | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       35 35
Commercial real estate | Farmland          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance 2,002 899 2,064 831 831
PCD Loans      
Charge offs 0 0 0 0 0
Recoveries 0 0 0 0 0
Net loans (charged off) recovered 0 0 0 0  
Provision for credit losses 57 41 (5) 83  
Allowance for loan losses, ending balance 2,059 940 2,059 940 2,064
Commercial real estate | Farmland | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       26 26
Commercial and industrial          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance 6,500 11,269 7,131 4,593 4,593
PCD Loans   5   5  
Charge offs (56) (109) (56) (220) (238)
Recoveries 0 0 0 0 0
Net loans (charged off) recovered (56) (109) (56) (220)  
Provision for credit losses 490 238 (141) 424  
Allowance for loan losses, ending balance 6,934 11,403 6,934 11,403 7,131
Commercial and industrial | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       6,601 6,601
Construction | Residential Construction          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance 1,176 1,423 1,256 0 0
PCD Loans   12   12  
Charge offs 0 0 0 0 0
Recoveries 0 0 0 0 0
Net loans (charged off) recovered 0 0 0 0  
Provision for credit losses (47) 294 (127) 447  
Allowance for loan losses, ending balance 1,129 1,729 1,129 1,729 1,256
Construction | Residential Construction | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       1,270 1,270
Construction | Other Construction          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance 2,171 2,208 2,146 0 0
PCD Loans   1   1  
Charge offs 0 0 0 0 0
Recoveries 0 0 0 0 0
Net loans (charged off) recovered 0 0 0 0  
Provision for credit losses (158) (271) (133) 6  
Allowance for loan losses, ending balance 2,013 1,938 2,013 1,938 2,146
Construction | Other Construction | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       1,931 1,931
Residential mortgage | 1-4 Family 1st Lien          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance 1,271 1,356 1,207 370 370
PCD Loans   4   4  
Charge offs 0 0 (7) (4) (13)
Recoveries 7 0 7 0 8
Net loans (charged off) recovered 7 0 0 (4)  
Provision for credit losses 71 268 142 (49)  
Allowance for loan losses, ending balance 1,349 1,628 1,349 1,628 1,207
Residential mortgage | 1-4 Family 1st Lien | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       1,307 1,307
Residential mortgage | 1-4 Family Rental          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance 1,539 1,066 1,859 288 288
PCD Loans   0    
Charge offs (2) 0 (2) 0 0
Recoveries 22 0 22 30 30
Net loans (charged off) recovered 20 0 20 30  
Provision for credit losses 145 (19) (175) (2)  
Allowance for loan losses, ending balance 1,704 1,047 1,704 1,047 1,859
Residential mortgage | 1-4 Family Rental | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       731 731
Residential mortgage | HELOC and Junior Liens          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance 457 452 389 661 661
PCD Loans   0    
Charge offs 0 0 (21) 0 0
Recoveries 0 0 0 0 0
Net loans (charged off) recovered 0 0 (21) 0  
Provision for credit losses (60) 18 29 39  
Allowance for loan losses, ending balance 397 470 397 470 389
Residential mortgage | HELOC and Junior Liens | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       (230) (230)
Consumer          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance 19 179 20 29 29
PCD Loans   0    
Charge offs (4) (65) (26) (84) (135)
Recoveries 11 4 17 11 32
Net loans (charged off) recovered 7 (61) (9) (73)  
Provision for credit losses (9) 58 6 66  
Allowance for loan losses, ending balance $ 17 176 $ 17 176 20
Consumer | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       154 154
Unallocated Financing Receivables          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance   0   (126) (126)
PCD Loans   0    
Charge offs   0   0  
Recoveries   0   0  
Net loans (charged off) recovered   0   0  
Provision for credit losses   0   370  
Allowance for loan losses, ending balance   $ 0   0  
Unallocated Financing Receivables | Cumulative Effect, Period of Adoption, Adjustment          
Financing Receivable, Allowance for Credit Loss [Roll Forward]          
Allowance for loan losses, beginning balance       $ (244) $ (244)
v3.24.2.u1
Loans and Allowance for Credit Losses - Loans - Schedule of ACL for Loans and Amortized Cost Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment $ 34,251   $ 33,100      
Allowance for loan losses: ending balance, individually evaluated for impairment 1,037   1,087      
Allowance for loan losses 35,288 $ 33,524 34,187 $ 32,588 $ 31,265 $ 18,957
Loans receivable: ending balance, collectively evaluated for impairment 4,354,562   4,238,306      
Loans receivable: ending balance, individually evaluated for impairment 9,999   14,486      
Loans, net of unearned interest 4,364,561   4,252,792      
Commercial real estate            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Loans, net of unearned interest 2,397,983   2,301,206      
Commercial real estate | CRE Nonowner Occupied            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment 10,293   9,906      
Allowance for loan losses: ending balance, individually evaluated for impairment 354   361      
Allowance for loan losses 10,647 10,417 10,267 7,872 8,175 8,284
Loans receivable: ending balance, collectively evaluated for impairment 1,184,475   1,145,048      
Loans receivable: ending balance, individually evaluated for impairment 2,575   4,505      
Loans, net of unearned interest 1,187,050   1,149,553      
Commercial real estate | CRE Owner Occupied            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment 5,830   5,646      
Allowance for loan losses: ending balance, individually evaluated for impairment 0   0      
Allowance for loan losses 5,830 5,602 5,646 4,141 3,079 2,916
Loans receivable: ending balance, collectively evaluated for impairment 622,114   627,995      
Loans receivable: ending balance, individually evaluated for impairment 1,642   1,909      
Loans, net of unearned interest 623,756   629,904      
Commercial real estate | Multifamily            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment 3,202   2,190      
Allowance for loan losses: ending balance, individually evaluated for impairment 7   12      
Allowance for loan losses 3,209 2,370 2,202 1,244 1,159 1,111
Loans receivable: ending balance, collectively evaluated for impairment 374,010   308,886      
Loans receivable: ending balance, individually evaluated for impairment 165   173      
Loans, net of unearned interest 374,175   309,059      
Commercial real estate | Farmland            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment 2,059   2,064      
Allowance for loan losses: ending balance, individually evaluated for impairment 0   0      
Allowance for loan losses 2,059 2,002 2,064 940 899 831
Loans receivable: ending balance, collectively evaluated for impairment 213,002   212,690      
Loans receivable: ending balance, individually evaluated for impairment 0   0      
Loans, net of unearned interest 213,002   212,690      
Commercial and industrial | Commercial and industrial            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment 6,258   6,419      
Allowance for loan losses: ending balance, individually evaluated for impairment 676   712      
Allowance for loan losses 6,934   7,131      
Loans receivable: ending balance, collectively evaluated for impairment 690,244   673,793      
Loans receivable: ending balance, individually evaluated for impairment 2,459   1,286      
Loans, net of unearned interest 692,703   675,079      
Construction            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Loans, net of unearned interest 453,965   455,467      
Construction | Residential Construction            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment 1,129   1,256      
Allowance for loan losses: ending balance, individually evaluated for impairment 0   0      
Allowance for loan losses 1,129 1,176 1,256 1,729 1,423 0
Loans receivable: ending balance, collectively evaluated for impairment 105,676   92,270      
Loans receivable: ending balance, individually evaluated for impairment 0   573      
Loans, net of unearned interest 105,676   92,843      
Construction | Other Construction            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment 2,013   2,146      
Allowance for loan losses: ending balance, individually evaluated for impairment 0   0      
Allowance for loan losses 2,013 2,171 2,146 1,938 2,208 0
Loans receivable: ending balance, collectively evaluated for impairment 348,289   360,368      
Loans receivable: ending balance, individually evaluated for impairment 0   2,256      
Loans, net of unearned interest 348,289   362,624      
Residential mortgage            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Loans, net of unearned interest 813,542   813,874      
Residential mortgage | 1-4 Family 1st Lien            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment 1,349   1,207      
Allowance for loan losses: ending balance, individually evaluated for impairment 0   0      
Allowance for loan losses 1,349 1,271 1,207 1,628 1,356 370
Loans receivable: ending balance, collectively evaluated for impairment 325,772   337,267      
Loans receivable: ending balance, individually evaluated for impairment 1,530   1,875      
Loans, net of unearned interest 327,302   339,142      
Residential mortgage | 1-4 Family Rental            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment 1,704   1,857      
Allowance for loan losses: ending balance, individually evaluated for impairment 0   2      
Allowance for loan losses 1,704 1,539 1,859 1,047 1,066 288
Loans receivable: ending balance, collectively evaluated for impairment 351,206   341,236      
Loans receivable: ending balance, individually evaluated for impairment 348   701      
Loans, net of unearned interest 351,554   341,937      
Residential mortgage | HELOC and Junior Liens            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment 397   389      
Allowance for loan losses: ending balance, individually evaluated for impairment 0   0      
Allowance for loan losses 397 457 389 470 452 661
Loans receivable: ending balance, collectively evaluated for impairment 133,406   131,587      
Loans receivable: ending balance, individually evaluated for impairment 1,280   1,208      
Loans, net of unearned interest 134,686   132,795      
Consumer            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses 17 $ 19 20 $ 176 $ 179 $ 29
Loans, net of unearned interest 6,368   7,166      
Consumer | Consumer            
Financing Receivable, Allowance for Credit Losses [Line Items]            
Allowance for loan losses: ending balance, collectively evaluated for impairment 17   20      
Allowance for loan losses: ending balance, individually evaluated for impairment 0   0      
Allowance for loan losses 17   20      
Loans receivable: ending balance, collectively evaluated for impairment 6,368   7,166      
Loans receivable: ending balance, individually evaluated for impairment 0   0      
Loans, net of unearned interest $ 6,368   $ 7,166      
v3.24.2.u1
Loans and Allowance for Credit Losses - Loans - Schedule of Troubled Debt Restructurings (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period $ 150 $ 92 $ 381
% of Total Class of Financing Receivable
Interest Only      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period $ 0 $ 0 $ 51
Term Extension      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period 150 0 150
Combination: Interest Only and Term Extension      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period 0 92 180
Residential mortgage      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period   $ 92  
% of Total Class of Financing Receivable   0.01%  
Residential mortgage | HELOC and Junior Liens      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period   $ 92  
% of Total Class of Financing Receivable   0.07%  
Residential mortgage | Interest Only      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period   $ 0  
Residential mortgage | Interest Only | HELOC and Junior Liens      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period   0  
Residential mortgage | Term Extension      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period   0  
Residential mortgage | Term Extension | HELOC and Junior Liens      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period   0  
Residential mortgage | Combination: Interest Only and Term Extension      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period   92  
Residential mortgage | Combination: Interest Only and Term Extension | HELOC and Junior Liens      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period   $ 92  
Commercial real estate      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period     $ 231
% of Total Class of Financing Receivable     0.02%
Commercial real estate | CRE Owner Occupied      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period     $ 231
% of Total Class of Financing Receivable     0.04%
Commercial real estate | Interest Only      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period     $ 51
Commercial real estate | Interest Only | CRE Owner Occupied      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period     51
Commercial real estate | Term Extension      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period     0
Commercial real estate | Term Extension | CRE Owner Occupied      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period     0
Commercial real estate | Combination: Interest Only and Term Extension      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period     180
Commercial real estate | Combination: Interest Only and Term Extension | CRE Owner Occupied      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period     180
Commercial and industrial      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period $ 150   $ 150
% of Total Class of Financing Receivable 0.02%   0.02%
Commercial and industrial | Interest Only      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period $ 0   $ 0
Commercial and industrial | Term Extension      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period 150   150
Commercial and industrial | Combination: Interest Only and Term Extension      
Financing Receivable, Modifications [Line Items]      
Financing receivable, excluding accrued interest, modified period $ 0   $ 0
v3.24.2.u1
Deposits - Schedule of By Type (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Interest-Bearing Deposit Liabilities, Domestic, by Component [Abstract]    
Noninterest-bearing demand deposits $ 766,014 $ 801,312
Interest-bearing demand deposits 1,021,636 947,372
Money market 896,179 850,674
Savings 277,133 288,404
Total demand and savings 2,960,962 2,887,762
Time 1,536,049 1,458,450
Total Deposits 4,497,011 4,346,212
Overdrafts $ 206 $ 315
% of Total Deposits    
Noninterest-bearing demand deposits 17.00% 18.40%
Interest-bearing demand deposits 22.70% 21.80%
Money market 19.90% 19.60%
Savings 6.20% 6.60%
Total demand and savings 65.80% 66.40%
Time 34.20% 33.60%
Total deposits 100.00% 100.00%
Overdrafts 0.00% 0.01%
v3.24.2.u1
Deposits - Schedule of Time Deposits By Maturity Date (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Deposit Liability [Line Items]    
Time $ 1,536,049 $ 1,458,450
Time Deposits Less Than250000    
Deposit Liability [Line Items]    
Maturing in 2024 699,424  
Maturing in 2025 380,228  
Maturing in 2026 39,854  
Maturing in 2027 18,302  
Maturing in 2028 9,295  
Maturing thereafter 6,506  
Time 1,153,609  
Time Deposits250000 or More    
Deposit Liability [Line Items]    
Maturing in 2024 237,344  
Maturing in 2025 138,800  
Maturing in 2026 4,547  
Maturing in 2027 1,198  
Maturing in 2028 259  
Maturing thereafter 292  
Time $ 382,440  
v3.24.2.u1
Deposits - Narrative (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Deposits [Abstract]    
Brokered certificates of deposits $ 244.8 $ 244.8
CDAR deposits $ 82.5 $ 96.7
v3.24.2.u1
Derivative Financial Instruments - Schedule of Loan Level Swaps (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Interest Rate Swap with Customers | Commercial Loan    
Derivative [Line Items]    
Notional amount $ 204,525 $ 187,192
Weighted average remaining term (years) 5 years 7 months 17 days 6 years 2 months 26 days
Receive fixed rate (weighted average) 4.57% 4.59%
Pay variable rate (weighted average) 7.47% 7.50%
Estimated fair value $ 11,543 $ 10,484
Interest Rate Swap with Counterparties | Commercial Loan    
Derivative [Line Items]    
Notional amount $ 204,525 $ 187,192
Weighted average remaining term (years) 5 years 7 months 17 days 6 years 2 months 26 days
Receive fixed rate (weighted average) 7.47% 7.50%
Pay variable rate (weighted average) 4.57% 4.59%
Estimated fair value $ 11,543 $ 10,484
Interest Rate Swaps Used in Cash Flow Hedges | Cash Flow Hedging    
Derivative [Line Items]    
Notional amount $ 190,000 $ 190,000
Weighted average remaining term (years) 1 year 8 months 19 days 2 years 2 months 19 days
Receive fixed rate (weighted average) 3.74% 3.74%
Pay variable rate (weighted average) 4.07% 4.07%
Estimated fair value $ 3,272 $ 1,460
v3.24.2.u1
Derivative Financial Instruments - Narrative (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2024
USD ($)
Interest Rate Contract  
Derivative [Line Items]  
Cash flow hedge to be reclassified within 12 months $ 2.2
v3.24.2.u1
Accumulated Other Comprehensive (Loss) Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance, beginning $ 550,968 $ 510,793 $ 542,350 $ 512,099
OCI before reclassifications (176) (431) (469) 1,423
Amounts reclassified from AOCI 0 0 (17) (12)
Balance, ending 559,686 525,888 559,686 525,888
Unrealized Loss on Securities        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance, beginning (19,050) (17,350) (17,339) (19,327)
OCI before reclassifications (201) (3,261) (1,912) (1,284)
Amounts reclassified from AOCI 0 0 0 0
Balance, ending (19,251) (20,611) (19,251) (20,611)
Unrealized Holding Losses on Interest Rate Derivatives used in Cash Flow Hedges        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance, beginning 2,230 (128) 820 0
OCI before reclassifications 28 2,837 1,438 2,709
Amounts reclassified from AOCI 0 0 0 0
Balance, ending 2,258 2,709 2,258 2,709
Defined Benefit Plans        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance, beginning (127) 104 (118) 111
OCI before reclassifications (3) (7) 5 (2)
Amounts reclassified from AOCI 0 0 (17) (12)
Balance, ending (130) 97 (130) 97
Total        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance, beginning (16,947) (17,374) (16,637) (19,216)
Balance, ending $ (17,123) $ (17,805) $ (17,123) $ (17,805)
v3.24.2.u1
Fair Value Measurement - Schedule of Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value $ 207,936 $ 223,555
Equity securities 427 438
Loans held for sale $ 8,420 $ 3,855
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Derivative assets $ 14,815 $ 11,944
Total 231,598 239,792
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 0 0
Equity securities 427 438
Loans held for sale 0 0
Derivative assets 0 0
Total 427 438
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 207,936 223,555
Equity securities 0 0
Loans held for sale 8,420 3,855
Derivative assets 14,815 11,944
Total 231,171 239,354
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 0 0
Equity securities 0 0
Loans held for sale 0 0
Derivative assets 0 0
Total 0 0
U.S. Treasury and U.S. government agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 30,619 35,649
U.S. Treasury and U.S. government agencies | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 0 0
U.S. Treasury and U.S. government agencies | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 30,619 35,649
U.S. Treasury and U.S. government agencies | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 0 0
Mortgage-backed U.S. government agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 142,037 152,683
Mortgage-backed U.S. government agencies | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 0 0
Mortgage-backed U.S. government agencies | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 142,037 152,683
Mortgage-backed U.S. government agencies | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 0 0
State and political subdivision obligations    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 3,591 3,646
State and political subdivision obligations | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 0 0
State and political subdivision obligations | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 3,591 3,646
State and political subdivision obligations | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 0 0
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 31,689 31,577
Corporate debt securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 0 0
Corporate debt securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value 31,689 31,577
Corporate debt securities | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFS, at fair value $ 0 $ 0
v3.24.2.u1
Fair Value Measurement - Schedule of Fair Value Measurements, Nonrecurring (Details) - Nonrecurring - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Individually evaluated loans, net of ACL    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets, nonrecurring $ 8,962 $ 13,399
Foreclosed assets held for sale    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets, nonrecurring $ 441 $ 293
v3.24.2.u1
Fair Value Measurement - Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Financial instruments - assets    
Available-for-sale investment securities $ 207,936 $ 223,555
Held-to-maturity investment securities 347,275 357,521
Loans held for sale 8,420 3,855
Derivative assets 14,815 11,944
Level 1    
Financial instruments - assets    
Cash and cash equivalents 105,726 96,763
Available-for-sale investment securities 0 0
Held-to-maturity investment securities 0 0
Equity securities 427 438
Loans held for sale 0 0
Net loans 0 0
Restricted investment in bank stocks 13,930 16,768
Accrued interest receivable 27,381 25,820
Derivative assets 0 0
Financial instruments - liabilities    
Deposits 0 0
Short-term borrowings 0 0
Long-term debt 0 0
Subordinated debt 0 0
Accrued interest payable 18,139 14,257
Derivative liabilities 0 0
Level 2    
Financial instruments - assets    
Cash and cash equivalents 0 0
Available-for-sale investment securities 207,936 223,555
Held-to-maturity investment securities 347,275 357,521
Equity securities 0 0
Loans held for sale 8,420 3,855
Net loans 0 0
Restricted investment in bank stocks 0 0
Accrued interest receivable 0 0
Derivative assets 14,815 11,944
Financial instruments - liabilities    
Deposits 4,493,809 4,337,723
Short-term borrowings 200,000 241,532
Long-term debt 20,693 55,081
Subordinated debt 40,612 39,515
Accrued interest payable 0 0
Derivative liabilities 11,543 10,484
Level 3    
Financial instruments - assets    
Cash and cash equivalents 0 0
Available-for-sale investment securities 0 0
Held-to-maturity investment securities 0 0
Equity securities 0 0
Loans held for sale 0 0
Net loans 4,329,703 4,221,926
Restricted investment in bank stocks 0 0
Accrued interest receivable 0 0
Derivative assets 0 0
Financial instruments - liabilities    
Deposits 0 0
Short-term borrowings 0 0
Long-term debt 0 0
Subordinated debt 0 0
Accrued interest payable 0 0
Derivative liabilities 0 0
Carrying Amount    
Financial instruments - assets    
Cash and cash equivalents 105,726 96,763
Available-for-sale investment securities 207,936 223,555
Held-to-maturity investment securities 393,320 399,128
Equity securities 427 438
Loans held for sale 8,420 3,855
Net loans 4,329,273 4,218,605
Restricted investment in bank stocks 13,930 16,768
Accrued interest receivable 27,381 25,820
Derivative assets 14,815 11,944
Financial instruments - liabilities    
Deposits 4,497,011 4,346,212
Short-term borrowings 200,000 241,532
Long-term debt 20,693 55,806
Subordinated debt 46,047 46,354
Accrued interest payable 18,139 14,257
Derivative liabilities 11,543 10,484
Estimated Fair Value    
Financial instruments - assets    
Cash and cash equivalents 105,726 96,763
Available-for-sale investment securities 207,936 223,555
Held-to-maturity investment securities 347,275 357,521
Equity securities 427 438
Loans held for sale 8,420 3,855
Net loans 4,329,703 4,221,926
Restricted investment in bank stocks 13,930 16,768
Accrued interest receivable 27,381 25,820
Derivative assets 14,815 11,944
Financial instruments - liabilities    
Deposits 4,493,809 4,337,723
Short-term borrowings 200,000 241,532
Long-term debt 20,693 55,081
Subordinated debt 40,612 39,515
Accrued interest payable 18,139 14,257
Derivative liabilities $ 11,543 $ 10,484
v3.24.2.u1
Commitments and Contingencies (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Commitments, Contingencies and Guarantees [Line Items]            
Off-balance-sheet credit exposure $ 3,100   $ 3,100   $ 3,600  
Off-balance-sheet, liability, credit loss expense (reversal) $ (177) $ (340) (496) $ (629)    
Cumulative Effect, Period of Adoption, Adjustment            
Commitments, Contingencies and Guarantees [Line Items]            
Off-balance-sheet credit exposure           $ 3,100
Financial Standby Letters of Credit            
Commitments, Contingencies and Guarantees [Line Items]            
Commitments to extend credit     $ 61,900   $ 62,200  
v3.24.2.u1
Debt - Narrative (Details) - USD ($)
 6 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Short term borrowings $ 200,000,000 $ 241,532,000
Maturity of federal funds purchased from correspondent banks one business day  
Maximum borrowing capacity $ 3,000,000,000.0  
Current borrowing available 1,800,000,000  
Federal home loan bank, maximum amount available, net of deposits and advances 2,100,000,000  
Letter of credit outstanding, amount 138,900,000 153,500,000
Other Correspondent Banks    
Debt Instrument [Line Items]    
Line of credit facility, remaining borrowing capacity 35,000,000.0  
Outstanding drawings $ 0 $ 0
v3.24.2.u1
Debt - Schedule of Long-term Debt Outstanding by Due Date (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Total FHLB fixed rate instruments $ 20,693 $ 55,806
Lease obligations included in long-term debt 3,134 3,197
Total long-term debt 23,827 59,003
Due in January 2024    
Debt Instrument [Line Items]    
Long-term debt outstanding $ 0 $ 10,000
Federal Home Loan Bank, advances, branch of FHLB bank, interest rate 1.10% 1.10%
Due in March 2024    
Debt Instrument [Line Items]    
Long-term debt outstanding $ 0 $ 25,000
Federal Home Loan Bank, advances, branch of FHLB bank, interest rate 5.60% 5.60%
Due in February 2026    
Debt Instrument [Line Items]    
Long-term debt outstanding $ 20,000 $ 20,000
Federal Home Loan Bank, advances, branch of FHLB bank, interest rate 4.51% 4.51%
Due in August 2026    
Debt Instrument [Line Items]    
Long-term debt outstanding $ 672 $ 782
Federal Home Loan Bank, advances, branch of FHLB bank, interest rate 4.80% 4.80%
Due in February 2027    
Debt Instrument [Line Items]    
Long-term debt outstanding $ 21 $ 24
Federal Home Loan Bank, advances, branch of FHLB bank, interest rate 6.71% 6.71%
v3.24.2.u1
Subordinated Debt and Trust Preferred Securities (Details) - USD ($)
$ in Thousands
 6 Months Ended
Nov. 30, 2021
Dec. 22, 2020
Mar. 20, 2020
Jun. 30, 2024
Dec. 31, 2023
Subordinated debt       $ 46,047 $ 46,354
Subordinated Debt | Subordinated Notes Due December 2030          
Debt instrument, interest rate, effective percentage   4.50%      
Principal amount sold, percent   100.00%      
Subordinated debt issuance   $ 12,200      
Interest rate period   5 years      
Debt instrument, interest rate, effective percentage   4.50%      
Redemption price, percentage   100.00%      
Subordinated Debt | Subordinated Notes Due December 2030 | Related Party          
Subordinated debt       750 750
Subordinated Debt | Subordinated Notes Due March 2030          
Debt instrument, interest rate, effective percentage     4.00%    
Subordinated debt issuance $ 6,900   $ 15,000 8,100  
Interest rate period     5 years    
Debt instrument, interest rate, effective percentage     4.25%    
Redemption price, percentage     100.00%    
Interest payment terms, semi-annually     5 years    
Subordinated Debt | Subordinated Notes Due March 2030 | Related Party          
Subordinated debt       $ 1,700 $ 1,700
Subordinated Debt | Riverview Acquisition          
Subordinate debt assumed 25,000        
Subordinated debt fair value premium $ 2,300        
Debt instrument, interest rate, effective percentage 5.75%        
Debt instrument, basis spread on variable rate 5.63%        
v3.24.2.u1
Common Stock and Earnings Per Share - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Mar. 19, 2020
Class of Stock [Line Items]          
Number of antidilutive shares     0 0  
Employee | Minimum          
Class of Stock [Line Items]          
Restricted shares, vesting period     1 year    
Employee | Maximum          
Class of Stock [Line Items]          
Restricted shares, vesting period     4 years    
Director          
Class of Stock [Line Items]          
Restricted shares, vesting period     12 months    
Dividend Reinvestment Plan          
Class of Stock [Line Items]          
Shares authorized per plan (in shares) 300,000   300,000    
2023 Stock Incentive Plan          
Class of Stock [Line Items]          
Aggregate shares granted (in shares)     350,000    
Shares granted (in shares)     263,974    
Granted shares unvested (in shares) 85,802   85,802    
Allocated share-based compensation expense $ 321 $ 252 $ 623 $ 1,100  
Treasury Stock Repurchase Program          
Class of Stock [Line Items]          
Stock repurchase program, authorized amount (in shares)         $ 15,000
Stock repurchased during period (in shares) 0   15,500    
Shares acquired, average cost per share (in dollars per share)     $ 20.81    
Stock repurchased during period (in shares) 440,722   440,722    
Stock repurchased at average price per share (in dollars per share) $ 22.78   $ 22.78    
Stock repurchase program, remaining available repurchase amount $ 5,000   $ 5,000    
v3.24.2.u1
Common Stock and Earnings Per Share - Schedule of Computing Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]            
Net income $ 11,771 $ 12,133 $ 4,836 $ 11,227 $ 23,904 $ 16,063
Weighted average common shares outstanding (basic) (in shares) 16,576,283   16,233,473   16,572,102 16,060,789
Effect of dilutive unvested restricted stock grants (in shares) 29,070   21,805   36,761 35,481
Weighted average common shares outstanding (diluted) (in shares) 16,605,353   16,255,278   16,608,863 16,096,270
Basic earnings per common share (In dollars per share) $ 0.71   $ 0.29   $ 1.44 $ 1.00
Diluted earnings per common share (in dollars per share) $ 0.71   $ 0.29   $ 1.44 $ 1.00