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Loans | 12 Months Ended
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Dec. 31, 2018
Receivables [Abstract] |
Loans | Loans Loans were comprised of the following classifications at December 31:
|  | 2018 |  | 2017
Commercial: |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 543,761 |  |  | $ | 486,668 |
Commercial Real Estate Loans |  | 1,208,646 |  |  | 926,729 |
Agricultural Loans |  | 365,208 |  |  | 333,227 |
Retail: |  |  |  |  |  |
Home Equity Loans |  | 207,987 |  |  | 152,187 |
Consumer Loans |  | 77,547 |  |  | 67,475 |
Residential Mortgage Loans |  | 328,592 |  |  | 178,733 |
Subtotal |  | 2,731,741 |  |  | 2,145,019 |
Less: Unearned Income |  | (3,682 | ) |  | (3,381 | )
Allowance for Loan Losses |  | (15,823 | ) |  | (15,694 | )
Loans, net |  | $ | 2,712,236 |  |  | $ | 2,125,944 |
As further described in Note 18, during 2018 the Company acquired loans at fair value from two separate acquisitions. The table below summarizes the loans acquired in the current year.
|  | Acquired Loan Balance |  | Fair Value Discounts |  | Fair Value
Branch Acquisition |  | $ | 119,176 |  |  | $ | (2,871 | ) |  | $ | 116,305 |
Bank Acquisition |  | 402,234 |  |  | (12,128 | ) |  | 390,106 |
The table below summarizes the remaining carrying amount of acquired loans included in the December 31, 2018 table above.
|  | Loan Balance at December 31, 2018 |  | Fair Value Discount at December 31, 2018
Branch Acquisition |  | $ | 108,505 |  |  | $ | (2,491 | )
Bank Acquisition |  | 385,557 |  |  | (11,063 | )
The following tables present the activity in the allowance for loan losses by portfolio class for the years ended December 31, 2018, 2017, and 2016:
|  | Commercial and Industrial Loans and Leases |  | Commercial Real Estate Loans |  | Agricultural Loans |  | Home Equity Loans |  | Consumer Loans |  | Residential Mortgage Loans |  | Unallocated |  | Total
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance |  | $ | 4,735 |  |  | $ | 4,591 |  |  | $ | 4,894 |  |  | $ | 330 |  |  | $ | 298 |  |  | $ | 343 |  |  | $ | 503 |  |  | $ | 15,694 |
Provision for Loan Losses |  | (423 | ) |  | 729 |  |  | 862 |  |  | (52 | ) |  | 608 |  |  | 167 |  |  | 179 |  |  | 2,070 |
Recoveries |  | 141 |  |  | 20 |  |  | 20 |  |  | 12 |  |  | 375 |  |  | 37 |  |  | — |  |  | 605 |
Loans Charged-off |  | (1,500 | ) |  | (49 | ) |  | — |  |  | (61 | ) |  | (861 | ) |  | (75 | ) |  | — |  |  | (2,546 | )
Ending Balance |  | $ | 2,953 |  |  | $ | 5,291 |  |  | $ | 5,776 |  |  | $ | 229 |  |  | $ | 420 |  |  | $ | 472 |  |  | $ | 682 |  |  | $ | 15,823 |
|  | Commercial and Industrial Loans and Leases |  | Commercial Real Estate Loans |  | Agricultural Loans |  | Home Equity Loans |  | Consumer Loans |  | Residential Mortgage Loans |  | Unallocated |  | Total
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance |  | $ | 3,725 |  |  | $ | 5,452 |  |  | $ | 4,094 |  |  | $ | 283 |  |  | $ | 235 |  |  | $ | 329 |  |  | $ | 690 |  |  | $ | 14,808 |
Provision for Loan Losses |  | 1,147 |  |  | (689 | ) |  | 840 |  |  | 78 |  |  | 517 |  |  | 44 |  |  | (187 | ) |  | 1,750 |
Recoveries |  | 14 |  |  | 48 |  |  | 9 |  |  | 8 |  |  | 272 |  |  | 63 |  |  | — |  |  | 414 |
Loans Charged-off |  | (151 | ) |  | (220 | ) |  | (49 | ) |  | (39 | ) |  | (726 | ) |  | (93 | ) |  | — |  |  | (1,278 | )
Ending Balance |  | $ | 4,735 |  |  | $ | 4,591 |  |  | $ | 4,894 |  |  | $ | 330 |  |  | $ | 298 |  |  | $ | 343 |  |  | $ | 503 |  |  | $ | 15,694 |
|  | Commercial and Industrial Loans and Leases |  | Commercial Real Estate Loans |  | Agricultural Loans |  | Home Equity Loans |  | Consumer Loans |  | Residential Mortgage Loans |  | Unallocated |  | Total
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance |  | $ | 4,242 |  |  | $ | 6,342 |  |  | $ | 2,115 |  |  | $ | 383 |  |  | $ | 230 |  |  | $ | 414 |  |  | $ | 712 |  |  | $ | 14,438 |
Provision for Loan Losses |  | (483 | ) |  | (846 | ) |  | 2,000 |  |  | 33 |  |  | 273 |  |  | 245 |  |  | (22 | ) |  | 1,200 |
Recoveries |  | 32 |  |  | 10 |  |  | 1 |  |  | 3 |  |  | 208 |  |  | 16 |  |  | — |  |  | 270 |
Loans Charged-off |  | (66 | ) |  | (54 | ) |  | (22 | ) |  | (136 | ) |  | (476 | ) |  | (346 | ) |  | — |  |  | (1,100 | )
Ending Balance |  | $ | 3,725 |  |  | $ | 5,452 |  |  | $ | 4,094 |  |  | $ | 283 |  |  | $ | 235 |  |  | $ | 329 |  |  | $ | 690 |  |  | $ | 14,808 |
In determining the adequacy of the allowance for loan loss, general allocations are made for pools of loans, including non-classified loans, homogeneous portfolios of consumer and residential real estate loans, and loans within certain industry categories believed to present unique risk of loss. General allocations of the allowance are primarily made based on historical averages for loan losses for these portfolios, judgmentally adjusted for current economic factors and portfolio trends. Loan impairment is reported when full repayment under the terms of the loan is not expected. This methodology is used for all loans, including loans acquired with deteriorated credit quality if such loans perform worse than what was expected at the time of acquisition. For purchased loans, the assessment is made at the time of acquisition as well as over the life of loan. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net, at the present value of estimated future cash flows using the loan’s existing rate, or at the fair value of collateral if repayment is expected solely from the collateral. Commercial and industrial loans, commercial real estate loans, and agricultural loans are evaluated individually for impairment. Smaller balance homogeneous loans are evaluated for impairment in total. Such loans include real estate loans secured by one-to-four family residences and loans to individuals for household, family and other personal expenditures. Individually evaluated loans on non-accrual are generally considered impaired. Impaired loans, or portions thereof, are charged off when deemed uncollectible. Specific allocations on impaired loans are determined by comparing the loan balance to the present value of expected cash flows or expected collateral proceeds. Allocations are also applied to categories of loans not considered individually impaired but for which the rate of loss is expected to be greater than historical averages, including non-performing consumer or residential real estate loans. Such allocations are based on past loss experience and information about specific borrower situations and estimated collateral values. The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio class and based on impairment method as of December 31, 2018 and 2017:
December 31, 2018 |  | Total |  | Commercial and Industrial Loans and Leases |  | Commercial Real Estate Loans |  | Agricultural Loans |  | Home Equity Loans |  | Consumer Loans |  | Residential Mortgage Loans |  | Unallocated
Allowance for Loan Losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Allowance Balance Attributable to Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually Evaluated for Impairment |  | $ | 1,823 |  |  | $ | 143 |  |  | $ | 1,680 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Collectively Evaluated for Impairment |  | 13,992 |  |  | 2,810 |  |  | 3,608 |  |  | 5,776 |  |  | 229 |  |  | 420 |  |  | 467 |  |  | 682 |
Acquired with Deteriorated Credit Quality |  | 8 |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | — |
Total Ending Allowance Balance |  | $ | 15,823 |  |  | $ | 2,953 |  |  | $ | 5,291 |  |  | $ | 5,776 |  |  | $ | 229 |  |  | $ | 420 |  |  | $ | 472 |  |  | $ | 682 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans Individually Evaluated for Impairment |  | $ | 9,619 |  |  | $ | 3,536 |  |  | $ | 6,083 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | n/m(2) |
Loans Collectively Evaluated for Impairment |  | 2,722,867 |  |  | 540,768 |  |  | 1,198,806 |  |  | 368,817 |  |  | 208,644 |  |  | 77,761 |  |  | 328,071 |  |  | n/m(2) |
Loans Acquired with Deteriorated Credit Quality |  | 11,556 |  |  | 1,038 |  |  | 6,993 |  |  | 1,877 |  |  | 365 |  |  | — |  |  | 1,283 |  |  | n/m(2) |
Total Ending Loans Balance (1) |  | $ | 2,744,042 |  |  | $ | 545,342 |  |  | $ | 1,211,882 |  |  | $ | 370,694 |  |  | $ | 209,009 |  |  | $ | 77,761 |  |  | $ | 329,354 |  |  | n/m(2) |
(1) Total recorded investment in loans includes $12,301 in accrued interest. (2)n/m = not meaningful
December 31, 2017 |  | Total |  | Commercial and Industrial Loans and Leases |  | Commercial Real Estate Loans |  | Agricultural Loans |  | Home Equity Loans |  | Consumer Loans |  | Residential Mortgage Loans |  | Unallocated
Allowance for Loan Losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Allowance Balance Attributable to Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually Evaluated for Impairment |  | $ | 2,228 |  |  | $ | 1,399 |  |  | $ | 829 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Collectively Evaluated for Impairment |  | 13,455 |  |  | 3,333 |  |  | 3,759 |  |  | 4,894 |  |  | 330 |  |  | 298 |  |  | 338 |  |  | 503 |
Acquired with Deteriorated Credit Quality |  | 11 |  |  | 3 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | — |
Total Ending Allowance Balance |  | $ | 15,694 |  |  | $ | 4,735 |  |  | $ | 4,591 |  |  | $ | 4,894 |  |  | $ | 330 |  |  | $ | 298 |  |  | $ | 343 |  |  | $ | 503 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans Individually Evaluated for Impairment |  | $ | 11,633 |  |  | $ | 5,918 |  |  | $ | 5,552 |  |  | $ | 163 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | n/m(2) |
Loans Collectively Evaluated for Impairment |  | 2,133,752 |  |  | 481,152 |  |  | 917,036 |  |  | 336,849 |  |  | 152,757 |  |  | 67,647 |  |  | 178,311 |  |  | n/m(2) |
Loans Acquired with Deteriorated Credit Quality |  | 9,117 |  |  | 988 |  |  | 6,452 |  |  | 789 |  |  | — |  |  | — |  |  | 888 |  |  | n/m(2) |
Total Ending Loans Balance (1) |  | $ | 2,154,502 |  |  | $ | 488,058 |  |  | $ | 929,040 |  |  | $ | 337,801 |  |  | $ | 152,757 |  |  | $ | 67,647 |  |  | $ | 179,199 |  |  | n/m(2) |
(1) Total recorded investment in loans includes $9,483 in accrued interest. (2)n/m = not meaningful The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2018 and 2017:
|  | Unpaid Principal Balance(1) |  | Recorded Investment |  | Allowance for Loan Losses Allocated
December 31, 2018 |  |  |  |  |  |  |  |  |
With No Related Allowance Recorded: |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 3,721 |  |  | $ | 1,183 |  |  | $ | — |
Commercial Real Estate Loans |  | 5,828 |  |  | 4,383 |  |  | — |
Agricultural Loans |  | 1,726 |  |  | 1,450 |  |  | — |
Subtotal |  | 11,275 |  |  | 7,016 |  |  | — |
With An Allowance Recorded: |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | 2,353 |  |  | 2,353 |  |  | 143 |
Commercial Real Estate Loans |  | 4,404 |  |  | 4,212 |  |  | 1,683 |
Agricultural Loans |  | — |  |  | — |  |  | — |
Subtotal |  | 6,757 |  |  | 6,565 |  |  | 1,826 |
Total |  | $ | 18,032 |  |  | $ | 13,581 |  |  | $ | 1,826 |
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) |  | $ | 8,060 |  |  | $ | 3,958 |  |  | $ | — |
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) |  | $ | 196 |  |  | $ | 4 |  |  | $ | 3 |
(1) Unpaid Principal Balance is the remaining contractual payments gross of partial charge-offs and discounts.
|  | Unpaid Principal Balance(1) |  | Recorded Investment |  | Allowance for Loan Losses Allocated
December 31, 2017 |  |  |  |  |  |  |  |  |
With No Related Allowance Recorded: |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 1,205 |  |  | $ | 1,166 |  |  | $ | — |
Commercial Real Estate Loans |  | 1,812 |  |  | 1,495 |  |  | — |
Agricultural Loans |  | 919 |  |  | 749 |  |  | — |
Subtotal |  | 3,936 |  |  | 3,410 |  |  | — |
With An Allowance Recorded: |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | 4,804 |  |  | 4,763 |  |  | 1,402 |
Commercial Real Estate Loans |  | 4,489 |  |  | 4,465 |  |  | 832 |
Agricultural Loans |  | — |  |  | — |  |  | — |
Subtotal |  | 9,293 |  |  | 9,228 |  |  | 2,234 |
Total |  | $ | 13,229 |  |  | $ | 12,638 |  |  | $ | 2,234 |
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) |  | $ | 1,255 |  |  | $ | 797 |  |  | $ | — |
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) |  | $ | 252 |  |  | $ | 208 |  |  | $ | 6 |
(1) Unpaid Principal Balance is the remaining contractual payments gross of partial charge-offs and discounts. The following tables present loans individually evaluated for impairment by class of loans for the years ended December 31, 2018, 2017 and 2016:
|  | Average Recorded Investment |  | Interest Income Recognized |  | Cash Basis Recognized
December 31, 2018 |  |  |  |  |  |  |  |  |
With No Related Allowance Recorded: |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 1,164 |  |  | $ | 53 |  |  | $ | 3 |
Commercial Real Estate Loans |  | 2,163 |  |  | 80 |  |  | 36 |
Agricultural Loans |  | 770 |  |  | — |  |  | — |
Subtotal |  | 4,097 |  |  | 133 |  |  | 39 |
With An Allowance Recorded: |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | 2,956 |  |  | 2 |  |  | 9 |
Commercial Real Estate Loans |  | 4,680 |  |  | 18 |  |  | — |
Agricultural Loans |  | — |  |  | — |  |  | — |
Subtotal |  | 7,636 |  |  | 20 |  |  | 9 |
Total |  | $ | 11,733 |  |  | $ | 153 |  |  | $ | 48 |
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) |  | $ | 868 |  |  | $ | 21 |  |  | $ | — |
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) |  | $ | 151 |  |  | $ | 29 |  |  | $ | — |
|  | Average Recorded Investment |  | Interest Income Recognized |  | Cash Basis Recognized
December 31, 2017 |  |  |  |  |  |  |  |  |
With No Related Allowance Recorded: |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 635 |  |  | $ | 27 |  |  | $ | 2 |
Commercial Real Estate Loans |  | 1,184 |  |  | 57 |  |  | 29 |
Agricultural Loans |  | 690 |  |  | 24 |  |  | 16 |
Subtotal |  | 2,509 |  |  | 108 |  |  | 47 |
With An Allowance Recorded: |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | 1,986 |  |  | 4 |  |  | 2 |
Commercial Real Estate Loans |  | 2,842 |  |  | 17 |  |  | 6 |
Agricultural Loans |  | 363 |  |  | — |  |  | — |
Subtotal |  | 5,191 |  |  | 21 |  |  | 8 |
Total |  | $ | 7,700 |  |  | $ | 129 |  |  | $ | 55 |
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) |  | $ | 792 |  |  | $ | 25 |  |  | $ | 25 |
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) |  | $ | 238 |  |  | $ | 19 |  |  | $ | 7 |
|  | Average Recorded Investment |  | Interest Income Recognized |  | Cash Basis Recognized
December 31, 2016 |  |  |  |  |  |  |  |  |
With No Related Allowance Recorded: |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 295 |  |  | $ | 29 |  |  | $ | 15 |
Commercial Real Estate Loans |  | 1,688 |  |  | 92 |  |  | 73 |
Agricultural Loans |  | 461 |  |  | 2 |  |  | 1 |
Subtotal |  | 2,444 |  |  | 123 |  |  | 89 |
With An Allowance Recorded: |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | 102 |  |  | 1 |  |  | 1 |
Commercial Real Estate Loans |  | 1,587 |  |  | 6 |  |  | 2 |
Agricultural Loans |  | 249 |  |  | — |  |  | — |
Subtotal |  | 1,938 |  |  | 7 |  |  | 3 |
Total |  | $ | 4,382 |  |  | $ | 130 |  |  | $ | 92 |
Loans Acquired With Deteriorated Credit Quality With No Related Allowance Recorded (Included in the Total Above) |  | $ | 489 |  |  | $ | 21 |  |  | $ | 10 |
Loans Acquired With Deteriorated Credit Quality With An Additional Allowance Recorded (Included in the Total Above) |  | $ | 711 |  |  | $ | — |  |  | $ | — |
All classes of loans, including loans acquired with deteriorated credit quality, are generally placed on non-accrual status when scheduled principal or interest payments are past due for 90 days or more or when the borrower’s ability to repay becomes doubtful. For purchased loans, the determination is made at the time of acquisition as well as over the life of the loan. Uncollected accrued interest for each class of loans is reversed against income at the time a loan is placed on non-accrual. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. All classes of loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Loans are typically charged-off at 180 days past due, or earlier if deemed uncollectible. Exceptions to the non-accrual and charge-off policies are made when the loan is well secured and in the process of collection. The following tables present the recorded investment in non-accrual loans and loans past due 90 days or more still on accrual by class of loans as of December 31, 2018 and 2017:
|  |  |  |  |  | Loans Past Due 90 Days or More
|  | Non-Accrual |  | & Still Accruing
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Commercial and Industrial Loans and Leases |  | $ | 2,430 |  |  | $ | 4,753 |  |  | $ | — |  |  | $ | — |
Commercial Real Estate Loans |  | 6,833 |  |  | 4,618 |  |  | 368 |  |  | 474 |
Agricultural Loans |  | 1,449 |  |  | 748 |  |  | 274 |  |  | 268 |
Home Equity Loans |  | 88 |  |  | 199 |  |  | — |  |  | — |
Consumer Loans |  | 162 |  |  | 286 |  |  | — |  |  | — |
Residential Mortgage Loans |  | 1,617 |  |  | 487 |  |  | — |  |  | — |
Total |  | $ | 12,579 |  |  | $ | 11,091 |  |  | $ | 642 |  |  | $ | 742 |
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) |  | $ | 4,162 |  |  | $ | 866 |  |  | $ | 141 |  |  | $ | — |
Loans Acquired in Current Year (Included in the Total Above) |  | $ | 4,603 |  |  | $ | — |  |  | $ | 96 |  |  | $ | — |
The following tables present the aging of the recorded investment in past due loans by class of loans as of December 31, 2018 and 2017:
|  | Total |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or More Past Due |  | Total Past Due |  | Loans Not Past Due
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 545,342 |  |  | $ | 5,414 |  |  | $ | 183 |  |  | $ | 72 |  |  | $ | 5,669 |  |  | $ | 539,673 |
Commercial Real Estate Loans |  | 1,211,882 |  |  | 768 |  |  | 705 |  |  | 3,032 |  |  | 4,505 |  |  | 1,207,377 |
Agricultural Loans |  | 370,694 |  |  | 563 |  |  | 805 |  |  | 274 |  |  | 1,642 |  |  | 369,052 |
Home Equity Loans |  | 209,009 |  |  | 471 |  |  | 125 |  |  | 60 |  |  | 656 |  |  | 208,353 |
Consumer Loans |  | 77,761 |  |  | 971 |  |  | 94 |  |  | 149 |  |  | 1,214 |  |  | 76,547 |
Residential Mortgage Loans |  | 329,354 |  |  | 4,771 |  |  | 1,520 |  |  | 1,387 |  |  | 7,678 |  |  | 321,676 |
Total (1) |  | $ | 2,744,042 |  |  | $ | 12,958 |  |  | $ | 3,432 |  |  | $ | 4,974 |  |  | $ | 21,364 |  |  | $ | 2,722,678 |
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) |  | $ | 11,556 |  |  | $ | 448 |  |  | $ | 885 |  |  | $ | 1,259 |  |  | $ | 2,592 |  |  | $ | 8,964 |
Loans Acquired in Current Year (Included in the Total Above) |  | $ | 481,901 |  |  | $ | 2,571 |  |  | $ | 1,620 |  |  | $ | 2,191 |  |  | $ | 6,382 |  |  | $ | 475,519 |
(1) Total recorded investment in loans includes $12,301 in accrued interest.
|  | Total |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or More Past Due |  | Total Past Due |  | Loans Not Past Due
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 488,058 |  |  | $ | 209 |  |  | $ | 1,365 |  |  | $ | 905 |  |  | $ | 2,479 |  |  | $ | 485,579 |
Commercial Real Estate Loans |  | 929,040 |  |  | 1,229 |  |  | 1,650 |  |  | 677 |  |  | 3,556 |  |  | 925,484 |
Agricultural Loans |  | 337,801 |  |  | 27 |  |  | — |  |  | 268 |  |  | 295 |  |  | 337,506 |
Home Equity Loans |  | 152,757 |  |  | 366 |  |  | 93 |  |  | 199 |  |  | 658 |  |  | 152,099 |
Consumer Loans |  | 67,647 |  |  | 246 |  |  | 97 |  |  | 286 |  |  | 629 |  |  | 67,018 |
Residential Mortgage Loans |  | 179,199 |  |  | 2,850 |  |  | 1,247 |  |  | 261 |  |  | 4,358 |  |  | 174,841 |
Total (1) |  | $ | 2,154,502 |  |  | $ | 4,927 |  |  | $ | 4,452 |  |  | $ | 2,596 |  |  | $ | 11,975 |  |  | $ | 2,142,527 |
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) |  | $ | 9,117 |  |  | $ | 342 |  |  | $ | 74 |  |  | $ | 27 |  |  | $ | 443 |  |  | $ | 8,674 |
(1) Total recorded investment in loans includes $9,483 in accrued interest. Troubled Debt Restructurings: In certain instances, the Company may choose to restructure the contractual terms of loans. A troubled debt restructuring occurs when the Bank grants a concession to the borrower that it would not otherwise consider due to a borrower’s financial difficulty. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without modification. This evaluation is performed under the Company’s internal underwriting policy. The Company uses the same methodology for loans acquired with deteriorated credit quality as for all other loans when determining whether the loan is a troubled debt restructuring. During the year ended December 31, 2018, there were no loans modified as troubled debt restructurings. During the year ended December 31, 2017, there were three loans modified as troubled debt restructurings. The following tables present the recorded investment of troubled debt restructurings by class of loans as of December 31, 2018 and 2017:
|  | Total |  | Performing |  | Non-Accrual(1)
December 31, 2018 |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 121 |  |  | $ | 121 |  |  | $ | — |
Commercial Real Estate Loans |  | — |  |  | — |  |  | — |
Total |  | $ | 121 |  |  | $ | 121 |  |  | $ | — |
|  | Total |  | Performing |  | Non-Accrual(1)
December 31, 2017 |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 258 |  |  | $ | 125 |  |  | $ | 133 |
Commercial Real Estate Loans |  | 24 |  |  | 24 |  |  | — |
Total |  | $ | 282 |  |  | $ | 149 |  |  | $ | 133 |
(1) The non-accrual troubled debt restructurings are included in the Non-Accrual Loan table presented on a previous page. The Company has not committed to lending any additional amounts as of December 31, 2018 and 2017 to customers with outstanding loans that are classified as troubled debt restructurings. The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2017:
|  | Number of Loans |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
December 31, 2017 |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | 2 |  |  | $ | 477 |  |  | $ | 477 |
Commercial Real Estate Loans |  | 1 |  |  | 28 |  |  | 28 |
Total |  | 3 |  |  | $ | 505 |  |  | $ | 505 |
The troubled debt restructurings described above increased the allowance for loan losses by $149 and resulted in charge-offs of $0 during the year ending December 31, 2017. For the years ended December 31, 2018 and 2016, the Company had no loans modified as troubled debt restructurings. Additionally, there were no loans modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the years ended December 31, 2018, 2017 and 2016. A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. Credit Quality Indicators: The Company 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. The Company classifies loans as to credit risk by individually analyzing loans. This analysis includes commercial and industrial loans, commercial real estate loans, and agricultural loans with an outstanding balance greater than $250. This analysis is typically performed on at least an annual basis. The Company uses the following definitions for risk ratings: Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows:
|  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 517,497 |  |  | $ | 7,541 |  |  | $ | 20,304 |  |  | $ | — |  |  | $ | 545,342 |
Commercial Real Estate Loans |  | 1,165,937 |  |  | 26,723 |  |  | 19,222 |  |  | — |  |  | 1,211,882 |
Agricultural Loans |  | 313,309 |  |  | 40,983 |  |  | 16,402 |  |  | — |  |  | 370,694 |
Total |  | $ | 1,996,743 |  |  | $ | 75,247 |  |  | $ | 55,928 |  |  | $ | — |  |  | $ | 2,127,918 |
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) |  | $ | — |  |  | $ | 1,436 |  |  | $ | 8,472 |  |  | $ | — |  |  | $ | 9,908 |
Loans Acquired in Current Year (Included in the Total Above) |  | $ | 250,415 |  |  | $ | 14,972 |  |  | $ | 11,521 |  |  | $ | — |  |  | $ | 276,908 |
|  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial Loans and Leases |  | $ | 462,212 |  |  | $ | 7,901 |  |  | $ | 17,945 |  |  | $ | — |  |  | $ | 488,058 |
Commercial Real Estate Loans |  | 894,027 |  |  | 18,037 |  |  | 16,976 |  |  | — |  |  | 929,040 |
Agricultural Loans |  | 304,032 |  |  | 27,288 |  |  | 6,481 |  |  | — |  |  | 337,801 |
Total |  | $ | 1,660,271 |  |  | $ | 53,226 |  |  | $ | 41,402 |  |  | $ | — |  |  | $ | 1,754,899 |
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) |  | $ | 2,604 |  |  | $ | 1,647 |  |  | $ | 3,978 |  |  | $ | — |  |  | $ | 8,229 |
The Company considers the performance of the loan portfolio and its impact on the allowance for loan losses. For home equity, consumer and residential mortgage loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in home equity, consumer and residential mortgage loans based on payment activity as of December 31, 2018 and 2017:
|  | Home Equity Loans |  | Consumer Loans |  | Residential Mortgage Loans
December 31, 2018 |  |  |  |  |  |  |  |  |
Performing |  | $ | 208,921 |  |  | $ | 77,599 |  |  | $ | 327,737 |
Nonperforming |  | 88 |  |  | 162 |  |  | 1,617 |
Total |  | $ | 209,009 |  |  | $ | 77,761 |  |  | $ | 329,354 |
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) |  | $ | 365 |  |  | $ | — |  |  | $ | 1,283 |
|  | Home Equity Loans |  | Consumer Loans |  | Residential Mortgage Loans
December 31, 2017 |  |  |  |  |  |  |  |  |
Performing |  | $ | 152,558 |  |  | $ | 67,361 |  |  | $ | 178,712 |
Nonperforming |  | 199 |  |  | 286 |  |  | 487 |
Total |  | $ | 152,757 |  |  | $ | 67,647 |  |  | $ | 179,199 |
Loans Acquired With Deteriorated Credit Quality (Included in the Total Above) |  | $ | — |  |  | $ | — |  |  | $ | 888 |
The following table presents financing receivables purchased and/or sold during the year by portfolio segment:
|  | Commercial and Industrial Loans and Leases |  | Commercial Real Estate Loans |  | Total
December 31, 2018 |  |  |  |  |  |
Purchases |  | $ | — |  |  | $ | 1,209 |  |  | $ | 1,209 |
Sales |  | — |  |  | 6,000 |  |  | 6,000 |
|  | Commercial and Industrial Loans and Leases |  | Commercial Real Estate Loans |  | Total
December 31, 2017 |  |  |  |  |  |
Purchases |  | $ | 800 |  |  | $ | 4,747 |  |  | $ | 5,547 |
Sales |  | — |  |  | 1,106 |  |  | 1,106 |
Contractually required payments receivable of loans purchased with evidence of credit deterioration during the year ended December 31, 2018 are included in the table below. The value of the purchased loans included in the table are as of acquisition date. There were no such loans purchased during the year ended December 31, 2017.
|  | 2018 |  | 2017
Commercial and Industrial Loans |  | $ | 4,245 |  |  | $ | — |
Commercial Real Estate Loans |  | 7,103 |  |  | — |
Agricultural Loans |  | 1,095 |  |  | — |
Home Equity Loans |  | 565 |  |  | — |
Consumer Loans |  | 11 |  |  | — |
Residential Mortgage Loans |  | 800 |  |  | — |
Total |  | $ | 13,819 |  |  | $ | — |
Cash Flows Expected to be Collected at Acquisition |  | $ | 8,802 |  |  | $ | — |
Fair Value of Acquired Loans at Acquisition |  | 7,702 |  |  | — |
The Company has purchased loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The recorded investment of those loans is as follows:
|  | 2018 |  | 2017 |  | 2016
Commercial and Industrial Loans |  | $ | 1,038 |  |  | $ | 988 |  |  | $ | 1,656 |
Commercial Real Estate Loans |  | 6,993 |  |  | 6,452 |  |  | 7,688 |
Agricultural Loans |  | 1,877 |  |  | 789 |  |  | 706 |
Home Equity Loans |  | 365 |  |  | — |  |  | — |
Consumer Loans |  | — |  |  | — |  |  | 53 |
Residential Mortgage Loans |  | 1,283 |  |  | 888 |  |  | 945 |
Total |  | $ | 11,556 |  |  | $ | 9,117 |  |  | $ | 11,048 |
Carrying Amount, Net of Allowance |  | $ | 11,548 |  |  | $ | 9,106 |  |  | $ | 10,943 |
Accretable yield, or income expected to be collected, is as follows:
|  | 2018 |  | 2017 |  | 2016
Balance at January 1 |  | $ | 2,734 |  |  | $ | 2,521 |  |  | $ | 1,279 |
New Loans Purchased |  | 1,100 |  |  | — |  |  | 1,395 |
Accretion of Income |  | (944 | ) |  | (425 | ) |  | (943 | )
Reclassifications from Non-accretable Difference |  | 345 |  |  | 638 |  |  | 985 |
Charge-off of Accretable Yield |  | (97 | ) |  | — |  |  | (195 | )
Balance at December 31 |  | $ | 3,138 |  |  | $ | 2,734 |  |  | $ | 2,521 |
For those purchased loans disclosed above, the Company increased the allowances for loan losses by $33, $11, and $107 during the years ended December 31, 2018, 2017, and 2016. The Company reversed allowances for loan losses of $36, $110, and $2 during the years ended December 31, 2018, 2017, and 2016. The carrying amount of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction totaled $58 and $14 as of December 31, 2018 and 2017. Certain directors, executive officers, and principal shareholders of the Company, including their immediate families and companies in which they are principal owners, were loan customers of the Company during 2018. A summary of the activity of these loans follows:
Balance January 1, 2018 |  | Additions |  | Changes in Persons Included |  | Deductions |  | Balance December 31, 2018
|  |  | Collected |  | Charged-off |
$ | 15,862 |  |  | $ | 3,801 |  |  | $ | (1,476 | ) |  | $ | (7,129 | ) |  | $ | — |  |  | $ | 11,058 |

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