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Loans and Allowance for Credit Losses (Tables) | 6 Months Ended
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Jun. 30, 2022
Receivables [Abstract] |
Summary of Loans | A summary of loans at June 30, 2022 and December 31, 2021 follows (in thousands):
|  | June 30, 2022 |  |  | December 31, 2021 |
Construction and land development |  | $ | 141,218 |  |  | $ | 145,156 |
Agricultural real estate |  |  | 350,485 |  |  |  | 279,001 |
1-4 family residential properties |  |  | 424,217 |  |  |  | 399,932 |
Multifamily residential properties |  |  | 331,386 |  |  |  | 298,974 |
Commercial real estate |  |  | 1,983,017 |  |  |  | 1,666,764 |
Loans secured by real estate |  |  | 3,230,323 |  |  |  | 2,789,827 |
Agricultural loans |  |  | 142,237 |  |  |  | 151,344 |
Commercial and industrial loans |  |  | 1,039,363 |  |  |  | 834,061 |
Consumer loans |  |  | 94,780 |  |  |  | 78,538 |
All other loans |  |  | 151,715 |  |  |  | 143,738 |
Total gross loans |  |  | 4,658,418 |  |  |  | 3,997,508 |
Less: loans held for sale |  |  | 1,286 |  |  |  | 2,748 |
|  |  | 4,657,132 |  |  |  | 3,994,760 |
Less: |  |  |  |  |  |  |  |
Net deferred loan fees, premiums and discounts |  |  | 9,755 |  |  |  | 1,985 |
Allowance for credit losses |  |  | 59,075 |  |  |  | 54,655 |
Net loans |  | $ | 4,588,302 |  |  | $ | 3,938,120 |
Allowance for Credit Losses Based on Portfolio Segment | The following table presents the activity in the allowance for credit losses based on portfolio segment for the three and six months ended June 30, 2022 (in thousands):
|  | Construction and Land Development |  |  | Agricultural Real Estate |  |  | 1-4 Family Residential Properties |  |  | Commercial Real Estate |  |  | Agricultural Loans |  |  | Commercial and Industrial |  |  | Consumer Loans |  |  | Total |
Three months ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 1,988 |  |  | $ | 1,971 |  |  | $ | 3,728 |  |  | $ | 30,345 |  |  | $ | 1,051 |  |  | $ | 17,348 |  |  | $ | 2,043 |  |  | $ | 58,474 |
Provision for credit loss expense |  |  | 54 |  |  |  | 141 |  |  |  | (178 | ) |  |  | (1,433 | ) |  |  | (72 | ) |  |  | 2,117 |  |  |  | 278 |  |  |  | 907 |
Loans charged off |  |  | — |  |  |  | — |  |  |  | 69 |  |  |  | 68 |  |  |  | 93 |  |  |  | 32 |  |  |  | 309 |  |  |  | 571 |
Recoveries collected |  |  | — |  |  |  | — |  |  |  | 42 |  |  |  | 12 |  |  |  | — |  |  |  | 63 |  |  |  | 148 |  |  |  | 265 |
Ending balance |  | $ | 2,042 |  |  | $ | 2,112 |  |  | $ | 3,523 |  |  | $ | 28,856 |  |  | $ | 886 |  |  | $ | 19,496 |  |  | $ | 2,160 |  |  | $ | 59,075 |
Six months ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 1,743 |  |  | $ | 1,257 |  |  | $ | 2,330 |  |  | $ | 26,246 |  |  | $ | 983 |  |  | $ | 19,241 |  |  | $ | 2,855 |  |  | $ | 54,655 |
Initial allowance on loans purchased with credit deterioration |  |  | 272 |  |  |  | — |  |  |  | 3 |  |  |  | 478 |  |  |  | — |  |  |  | 94 |  |  |  | 16 |  |  |  | 863 |
Provision for credit loss expense |  |  | 29 |  |  |  | 855 |  |  |  | 1,086 |  |  |  | 2,180 |  |  |  | (4 | ) |  |  | 72 |  |  |  | (359 | ) |  |  | 3,859 |
Loans charged off |  |  | 2 |  |  |  | — |  |  |  | 141 |  |  |  | 407 |  |  |  | 93 |  |  |  | 35 |  |  |  | 667 |  |  |  | 1,345 |
Recoveries collected |  |  | — |  |  |  | — |  |  |  | 245 |  |  |  | 359 |  |  |  | — |  |  |  | 124 |  |  |  | 315 |  |  |  | 1,043 |
Ending balance |  | $ | 2,042 |  |  | $ | 2,112 |  |  | $ | 3,523 |  |  | $ | 28,856 |  |  | $ | 886 |  |  | $ | 19,496 |  |  | $ | 2,160 |  |  | $ | 59,075 |
21 The following tables present the activity in the allowance for credit losses based on portfolio segment for the three and six months ended June 30, 2021 and for the year ended December 31, 2021 (in thousands):
|  | Construction and Land Development |  |  | Agricultural Real Estate |  |  | 1-4 Family Residential Properties |  |  | Commercial Real Estate |  |  | Agricultural Loans |  |  | Commercial and Industrial |  |  | Consumer Loans |  |  | Total |
Three months ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance (prior to adoption of ASC 326) |  | $ | 2,286 |  |  | $ | 1,628 |  |  | $ | 3,093 |  |  | $ | 25,737 |  |  | $ | 881 |  |  | $ | 18,954 |  |  | $ | 2,839 |  |  | $ | 55,418 |
Provision for credit loss expense |  |  | (468 | ) |  |  | 37 |  |  |  | (527 | ) |  |  | (86 | ) |  |  | 24 |  |  |  | 934 |  |  |  | (474 | ) |  |  | (560 | )
Loans charged off |  |  | 23 |  |  |  | — |  |  |  | 14 |  |  |  | — |  |  |  | — |  |  |  | 68 |  |  |  | 344 |  |  |  | 449 |
Recoveries collected |  |  | — |  |  |  | — |  |  |  | 18 |  |  |  | 13 |  |  |  | 1 |  |  |  | 22 |  |  |  | 134 |  |  |  | 188 |
Ending balance |  | $ | 1,795 |  |  | $ | 1,665 |  |  | $ | 2,570 |  |  | $ | 25,664 |  |  | $ | 906 |  |  | $ | 19,842 |  |  | $ | 2,155 |  |  | $ | 54,597 |
Six months ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance (prior to adoption of ASC 326) |  | $ | 1,666 |  |  | $ | 1,084 |  |  | $ | 2,322 |  |  | $ | 19,660 |  |  | $ | 1,526 |  |  | $ | 13,485 |  |  | $ | 2,167 |  |  | $ | 41,910 |
Initial allowance on loans purchased with credit deterioration |  |  | 261 |  |  |  | 44 |  |  |  | 328 |  |  |  | 646 |  |  |  | — |  |  |  | 795 |  |  |  | — |  |  |  | 2,074 |
Provision for credit loss expense |  |  | (109 | ) |  |  | 535 |  |  |  | 90 |  |  |  | 5,816 |  |  |  | (621 | ) |  |  | 5,608 |  |  |  | 257 |  |  |  | 11,576 |
Loans charged off |  |  | 23 |  |  |  | — |  |  |  | 196 |  |  |  | 480 |  |  |  | — |  |  |  | 86 |  |  |  | 632 |  |  |  | 1,417 |
Recoveries collected |  |  | — |  |  |  | 2 |  |  |  | 26 |  |  |  | 22 |  |  |  | 1 |  |  |  | 40 |  |  |  | 363 |  |  |  | 454 |
Ending balance |  | $ | 1,795 |  |  | $ | 1,665 |  |  | $ | 2,570 |  |  | $ | 25,664 |  |  | $ | 906 |  |  | $ | 19,842 |  |  | $ | 2,155 |  |  | $ | 54,597 |
Twelve months ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance (prior to adoption of ASC 326) |  | $ | 1,666 |  |  | $ | 1,084 |  |  | $ | 2,322 |  |  | $ | 19,660 |  |  | $ | 1,526 |  |  | $ | 13,485 |  |  | $ | 2,167 |  |  | $ | 41,910 |
Impact of adopting ASC 326 |  |  | 261 |  |  |  | 44 |  |  |  | 328 |  |  |  | 646 |  |  |  | — |  |  |  | 795 |  |  |  | — |  |  |  | 2,074 |
Provision for credit loss expense |  |  | 21 |  |  |  | 129 |  |  |  | (160 | ) |  |  | 6,415 |  |  |  | (544 | ) |  |  | 7,940 |  |  |  | 1,350 |  |  |  | 15,151 |
Loans charged off |  |  | 205 |  |  |  | — |  |  |  | 371 |  |  |  | 535 |  |  |  | — |  |  |  | 3,118 |  |  |  | 1,405 |  |  |  | 5,634 |
Recoveries collected |  |  | — |  |  |  | — |  |  |  | 211 |  |  |  | 60 |  |  |  | 1 |  |  |  | 139 |  |  |  | 743 |  |  |  | 1,154 |
Ending balance |  | $ | 1,743 |  |  | $ | 1,257 |  |  | $ | 2,330 |  |  | $ | 26,246 |  |  | $ | 983 |  |  | $ | 19,241 |  |  | $ | 2,855 |  |  | $ | 54,655 |
Amortized Cost Basis of Collateral-Dependent Loans by Class of Loans Individually Evaluated | The following table presents the amortized cost basis of collateral-dependent loans by class of loans that were individually evaluated to determine expected credit losses, and the related allowance for credit losses, as of June 30, 2022 (in thousands):
|  | Collateral |  |  | Allowance |
|  | Real Estate |  |  | Business Assets |  |  | Other |  |  | Total |  |  | for Credit Losses |
Construction and land development |  | $ | 466 |  |  | $ | — |  |  | $ | — |  |  | $ | 466 |  |  | $ | 205 |
Agricultural real estate |  |  | — |  |  |  | — |  |  |  | 74 |  |  |  | 74 |  |  |  | — |
1-4 family residential properties |  |  | 1,040 |  |  |  | 148 |  |  |  | — |  |  |  | 1,188 |  |  |  | 90 |
Multifamily residential properties |  |  | 1,287 |  |  |  | — |  |  |  | — |  |  |  | 1,287 |  |  |  | — |
Commercial real estate |  |  | 8,811 |  |  |  | 663 |  |  |  | — |  |  |  | 9,474 |  |  |  | 503 |
Loans secured by real estate |  |  | 11,604 |  |  |  | 811 |  |  |  | 74 |  |  |  | 12,489 |  |  |  | 798 |
Commercial and industrial loans |  |  | 220 |  |  |  | 626 |  |  |  | — |  |  |  | 846 |  |  |  | 300 |
Consumer loans |  |  | — |  |  |  | — |  |  |  | 3 |  |  | 3 |  |  |  | — |
Total loans |  | $ | 11,824 |  |  | $ | 1,437 |  |  | $ | 77 |  |  | $ | 13,338 |  |  | $ | 1,098 |
Credit Risk Profile of Loan Portfolio on Amortized Cost Basis Based on Risk Rating Category | 23 The following tables present the credit risk profile of the Company’s loan portfolio on amortized cost basis based on risk rating category and year of origination as of June 30, 2022 (in thousands):
|  | Term Loans by Origination Year |  |  | Revolving |  |  |  |  |
Risk rating |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | Prior |  |  | Loans |  |  | Total |
June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development loans |
Pass |  | $ | 24,090 |  |  | $ | 50,335 |  |  | $ | 24,406 |  |  | $ | 27,088 |  |  | $ | 2,276 |  |  | $ | 12,294 |  |  | $ | — |  |  | $ | 140,489 |
Special mention |  |  | — |  |  |  | 105 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 105 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 478 |  |  |  | — |  |  |  | 478 |
Total |  | $ | 24,090 |  |  | $ | 50,440 |  |  | $ | 24,406 |  |  | $ | 27,088 |  |  | $ | 2,276 |  |  | $ | 12,772 |  |  | $ | — |  |  | $ | 141,072 |
Agricultural real estate loans |
Pass |  | $ | 96,798 |  |  | $ | 73,365 |  |  | $ | 59,171 |  |  | $ | 23,222 |  |  | $ | 28,105 |  |  | $ | 58,227 |  |  | $ | — |  |  | $ | 338,888 |
Special mention |  |  | 825 |  |  |  | — |  |  |  | 490 |  |  |  | 3,499 |  |  |  | 273 |  |  |  | 3,248 |  |  |  | — |  |  |  | 8,335 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,460 |  |  |  | 1,476 |  |  |  | — |  |  |  | 2,936 |
Total |  | $ | 97,623 |  |  | $ | 73,365 |  |  | $ | 59,661 |  |  | $ | 26,721 |  |  | $ | 29,838 |  |  | $ | 62,951 |  |  | $ | — |  |  | $ | 350,159 |
1-4 family residential property loans |
Pass |  | $ | 45,334 |  |  | $ | 93,175 |  |  | $ | 85,280 |  |  | $ | 30,080 |  |  | $ | 33,992 |  |  | $ | 74,577 |  |  | $ | 47,094 |  |  | $ | 409,532 |
Special mention |  |  | — |  |  |  | 151 |  |  |  | 139 |  |  |  | 40 |  |  |  | 182 |  |  |  | 1,149 |  |  |  | 129 |  |  |  | 1,790 |
Substandard |  |  | 255 |  |  |  | 340 |  |  |  | 441 |  |  |  | 366 |  |  |  | 2,924 |  |  |  | 8,278 |  |  |  | 304 |  |  |  | 12,908 |
Total |  | $ | 45,589 |  |  | $ | 93,666 |  |  | $ | 85,860 |  |  | $ | 30,486 |  |  | $ | 37,098 |  |  | $ | 84,004 |  |  | $ | 47,527 |  |  | $ | 424,230 |
Commercial real estate loans |
Pass |  | $ | 359,324 |  |  | $ | 538,921 |  |  | $ | 341,037 |  |  | $ | 287,273 |  |  | $ | 223,273 |  |  | $ | 513,758 |  |  | $ | — |  |  | $ | 2,263,586 |
Special mention |  |  | 2,061 |  |  |  | 1,457 |  |  |  | 1,153 |  |  |  | 1,799 |  |  |  | 993 |  |  |  | 15,212 |  |  |  | — |  |  |  | 22,675 |
Substandard |  |  | 3,865 |  |  |  | 490 |  |  |  | 829 |  |  |  | 1,003 |  |  |  | 5,655 |  |  |  | 9,151 |  |  |  | — |  |  |  | 20,993 |
Total |  | $ | 365,250 |  |  | $ | 540,868 |  |  | $ | 343,019 |  |  | $ | 290,075 |  |  | $ | 229,921 |  |  | $ | 538,121 |  |  | $ | — |  |  | $ | 2,307,254 |
Agricultural loans |
Pass |  | $ | 83,601 |  |  | $ | 37,086 |  |  | $ | 10,637 |  |  | $ | 4,013 |  |  | $ | 1,765 |  |  | $ | 1,288 |  |  | $ | — |  |  | $ | 138,390 |
Special mention |  |  | 1,201 |  |  |  | 1,317 |  |  |  | — |  |  |  | 262 |  |  |  | 81 |  |  |  | — |  |  |  | — |  |  |  | 2,861 |
Substandard |  |  | 940 |  |  |  | — |  |  |  | — |  |  |  | 43 |  |  |  | 4 |  |  |  | 168 |  |  |  | — |  |  |  | 1,155 |
Total |  | $ | 85,742 |  |  | $ | 38,403 |  |  | $ | 10,637 |  |  | $ | 4,318 |  |  | $ | 1,850 |  |  | $ | 1,456 |  |  | $ | — |  |  | $ | 142,406 |
Commercial and industrial loans |
Pass |  | $ | 227,589 |  |  | $ | 319,582 |  |  | $ | 184,910 |  |  | $ | 77,852 |  |  | $ | 77,171 |  |  | $ | 296,278 |  |  | $ | — |  |  | $ | 1,183,382 |
Special mention |  |  | 229 |  |  |  | 478 |  |  |  | 322 |  |  |  | 1,353 |  |  |  | 265 |  |  |  | 382 |  |  |  | — |  |  |  | 3,029 |
Substandard |  |  | 307 |  |  |  | 455 |  |  |  | 367 |  |  |  | 40 |  |  |  | 109 |  |  |  | 725 |  |  |  | — |  |  |  | 2,003 |
Doubtful |  |  | — |  |  |  | 300 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 300 |
Total |  | $ | 228,125 |  |  | $ | 320,815 |  |  | $ | 185,599 |  |  | $ | 79,245 |  |  | $ | 77,545 |  |  | $ | 297,385 |  |  | $ | — |  |  | $ | 1,188,714 |
Consumer loans |
Pass |  | $ | 28,818 |  |  | $ | 25,791 |  |  | $ | 20,595 |  |  | $ | 11,516 |  |  | $ | 3,428 |  |  | $ | 4,328 |  |  | $ | — |  |  | $ | 94,476 |
Special mention |  |  | — |  |  |  | 60 |  |  |  | 30 |  |  |  | 32 |  |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  | 129 |
Substandard |  |  | 12 |  |  |  | 119 |  |  |  | 2 |  |  |  | 14 |  |  |  | 46 |  |  |  | 30 |  |  |  | — |  |  |  | 223 |
Total |  | $ | 28,830 |  |  | $ | 25,970 |  |  | $ | 20,627 |  |  | $ | 11,562 |  |  | $ | 3,481 |  |  | $ | 4,358 |  |  | $ | — |  |  | $ | 94,828 |
Total loans |
Pass |  | $ | 865,554 |  |  | $ | 1,138,255 |  |  | $ | 726,036 |  |  | $ | 461,044 |  |  | $ | 370,010 |  |  | $ | 960,750 |  |  | $ | 47,094 |  |  | $ | 4,568,743 |
Special mention |  |  | 4,316 |  |  |  | 3,568 |  |  |  | 2,134 |  |  |  | 6,985 |  |  |  | 1,801 |  |  |  | 19,991 |  |  |  | 129 |  |  |  | 38,924 |
Substandard |  |  | 5,379 |  |  |  | 1,404 |  |  |  | 1,639 |  |  |  | 1,466 |  |  |  | 10,198 |  |  |  | 20,306 |  |  |  | 304 |  |  |  | 40,696 |
Doubtful |  |  | — |  |  |  | 300 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 300 |
Total |  | $ | 875,249 |  |  | $ | 1,143,527 |  |  | $ | 729,809 |  |  | $ | 469,495 |  |  | $ | 382,009 |  |  | $ | 1,001,047 |  |  | $ | 47,527 |  |  | $ | 4,648,663 |
24 The following tables present the credit risk profile of the Company’s loan portfolio based on risk rating category as of December 31, 2021 (in thousands):
|  | Term Loans by Origination Year |  |  | Revolving |  |  |  |  |
Risk rating |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | Prior |  |  | Loans |  |  | Total |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development loans |
Pass |  | $ | 38,656 |  |  | $ | 34,774 |  |  | $ | 23,505 |  |  | $ | 34,358 |  |  | $ | 3,760 |  |  | $ | 9,433 |  |  | $ | — |  |  | $ | 144,486 |
Special mention |  |  | 110 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 110 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 483 |  |  |  | — |  |  |  | 39 |  |  |  | — |  |  |  | 522 |
Total |  | $ | 38,766 |  |  | $ | 34,774 |  |  | $ | 23,505 |  |  | $ | 34,841 |  |  | $ | 3,760 |  |  | $ | 9,472 |  |  | $ | — |  |  | $ | 145,118 |
Agricultural real estate loans |
Pass |  | $ | 78,793 |  |  | $ | 64,159 |  |  | $ | 25,713 |  |  | $ | 30,203 |  |  | $ | 12,142 |  |  | $ | 54,808 |  |  | $ | — |  |  | $ | 265,818 |
Special mention |  |  | 872 |  |  |  | 259 |  |  |  | 4,028 |  |  |  | 384 |  |  |  | 69 |  |  |  | 6,087 |  |  |  | — |  |  |  | 11,699 |
Substandard |  |  | — |  |  |  | — |  |  |  | 392 |  |  |  | 187 |  |  |  | 57 |  |  |  | 1,119 |  |  |  | — |  |  |  | 1,755 |
Total |  | $ | 79,665 |  |  | $ | 64,418 |  |  | $ | 30,133 |  |  | $ | 30,774 |  |  | $ | 12,268 |  |  | $ | 62,014 |  |  | $ | — |  |  | $ | 279,272 |
1-4 family residential property loans |
Pass |  | $ | 78,889 |  |  | $ | 94,404 |  |  | $ | 35,554 |  |  | $ | 44,248 |  |  | $ | 30,735 |  |  | $ | 52,131 |  |  | $ | 42,800 |  |  | $ | 378,761 |
Special mention |  |  | 234 |  |  |  | — |  |  |  | 1,934 |  |  |  | 499 |  |  |  | 2,601 |  |  |  | 1,196 |  |  |  | 41 |  |  |  | 6,505 |
Substandard |  |  | 355 |  |  |  | 496 |  |  |  | 1,534 |  |  |  | 1,302 |  |  |  | 3,458 |  |  |  | 7,250 |  |  |  | 652 |  |  |  | 15,047 |
Total |  | $ | 79,478 |  |  | $ | 94,900 |  |  | $ | 39,022 |  |  | $ | 46,049 |  |  | $ | 36,794 |  |  | $ | 60,577 |  |  | $ | 43,493 |  |  | $ | 400,313 |
Commercial real estate loans |
Pass |  | $ | 568,200 |  |  | $ | 417,334 |  |  | $ | 299,973 |  |  | $ | 174,448 |  |  | $ | 150,811 |  |  | $ | 304,585 |  |  | $ | — |  |  | $ | 1,915,351 |
Special mention |  |  | 3,185 |  |  |  | 1,206 |  |  |  | 1,836 |  |  |  | 1,295 |  |  |  | 10,609 |  |  |  | 8,632 |  |  |  | — |  |  |  | 26,763 |
Substandard |  |  | 2,007 |  |  |  | 714 |  |  |  | 6,242 |  |  |  | 1,179 |  |  |  | 4,646 |  |  |  | 8,238 |  |  |  | — |  |  |  | 23,026 |
Total |  | $ | 573,392 |  |  | $ | 419,254 |  |  | $ | 308,051 |  |  | $ | 176,922 |  |  | $ | 166,066 |  |  | $ | 321,455 |  |  | $ | — |  |  | $ | 1,965,140 |
Agricultural loans |
Pass |  | $ | 105,378 |  |  | $ | 17,903 |  |  | $ | 5,612 |  |  | $ | 2,822 |  |  | $ | 924 |  |  | $ | 1,316 |  |  | $ | — |  |  | $ | 133,955 |
Special mention |  |  | 13,725 |  |  |  | 436 |  |  |  | 2,648 |  |  |  | 150 |  |  |  | 13 |  |  |  | 64 |  |  |  | — |  |  |  | 17,036 |
Substandard |  |  | 350 |  |  |  | 18 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 125 |  |  |  | — |  |  |  | 493 |
Total |  | $ | 119,453 |  |  | $ | 18,357 |  |  | $ | 8,260 |  |  | $ | 2,972 |  |  | $ | 937 |  |  | $ | 1,505 |  |  | $ | — |  |  | $ | 151,484 |
Commercial and industrial loans |
Pass |  | $ | 279,814 |  |  | $ | 167,662 |  |  | $ | 119,702 |  |  | $ | 76,022 |  |  | $ | 22,888 |  |  | $ | 302,962 |  |  | $ | — |  |  | $ | 969,050 |
Special mention |  |  | 613 |  |  |  | 399 |  |  |  | 1,463 |  |  |  | 182 |  |  |  | 477 |  |  |  | 819 |  |  |  | — |  |  |  | 3,953 |
Substandard |  |  | 506 |  |  |  | 34 |  |  |  | 133 |  |  |  | 621 |  |  |  | 24 |  |  |  | 1,433 |  |  |  | — |  |  |  | 2,751 |
Total |  | $ | 280,933 |  |  | $ | 168,095 |  |  | $ | 121,298 |  |  | $ | 76,825 |  |  | $ | 23,389 |  |  | $ | 305,214 |  |  | $ | — |  |  | $ | 975,754 |
Consumer loans |
Pass |  | $ | 27,948 |  |  | $ | 19,033 |  |  | $ | 16,978 |  |  | $ | 5,505 |  |  | $ | 4,297 |  |  | $ | 1,244 |  |  | $ | — |  |  | $ | 75,005 |
Special mention |  |  | 68 |  |  |  | 54 |  |  |  | 38 |  |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 169 |
Substandard |  |  | 585 |  |  |  | 58 |  |  |  | 308 |  |  |  | 678 |  |  |  | 43 |  |  |  | 1,596 |  |  |  | — |  |  |  | 3,268 |
Total |  | $ | 28,601 |  |  | $ | 19,145 |  |  | $ | 17,324 |  |  | $ | 6,192 |  |  | $ | 4,340 |  |  | $ | 2,840 |  |  | $ | — |  |  | $ | 78,442 |
Total loans |
Pass |  | $ | 1,177,678 |  |  | $ | 815,269 |  |  | $ | 527,037 |  |  | $ | 367,606 |  |  | $ | 225,557 |  |  | $ | 726,479 |  |  | $ | 42,800 |  |  | $ | 3,882,426 |
Special mention |  |  | 18,807 |  |  |  | 2,354 |  |  |  | 11,947 |  |  |  | 2,519 |  |  |  | 13,769 |  |  |  | 16,798 |  |  |  | 41 |  |  |  | 66,235 |
Substandard |  |  | 3,803 |  |  |  | 1,320 |  |  |  | 8,609 |  |  |  | 4,450 |  |  |  | 8,228 |  |  |  | 19,800 |  |  |  | 652 |  |  |  | 46,862 |
Total |  | $ | 1,200,288 |  |  | $ | 818,943 |  |  | $ | 547,593 |  |  | $ | 374,575 |  |  | $ | 247,554 |  |  | $ | 763,077 |  |  | $ | 43,493 |  |  | $ | 3,995,523 |
25
Loan Portfolio Aging Analysis | The following table presents the Company’s loan portfolio aging analysis at June 30, 2022 and December 31, 2021 (in thousands):
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days or More Past Due |  |  | Total Past Due |  |  | Current |  |  | Total Loans Receivable |  |  | Total Loans > 90 Days and Accruing |
June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development |  | $ | — |  |  | $ | — |  |  | $ | 449 |  |  | $ | 449 |  |  | $ | 140,623 |  |  | $ | 141,072 |  |  | $ | — |
Agricultural real estate |  |  | — |  |  |  | 241 |  |  |  | 192 |  |  |  | 433 |  |  |  | 349,726 |  |  |  | 350,159 |  |  |  | — |
1-4 family residential properties |  |  | 3,294 |  |  |  | 496 |  |  |  | 918 |  |  |  | 4,708 |  |  |  | 419,522 |  |  |  | 424,230 |  |  |  | — |
Multifamily residential properties |  |  | 4 |  |  |  | — |  |  |  | 544 |  |  |  | 548 |  |  |  | 330,052 |  |  |  | 330,600 |  |  |  | — |
Commercial real estate |  |  | 1,706 |  |  |  | 160 |  |  |  | 9,349 |  |  |  | 11,215 |  |  |  | 1,965,439 |  |  |  | 1,976,654 |  |  |  | — |
Loans secured by real estate |  |  | 5,004 |  |  |  | 897 |  |  |  | 11,452 |  |  |  | 17,353 |  |  |  | 3,205,362 |  |  |  | 3,222,715 |  |  |  | — |
Agricultural loans |  |  | 226 |  |  |  | 940 |  |  |  | — |  |  |  | 1,166 |  |  |  | 141,240 |  |  |  | 142,406 |  |  |  | — |
Commercial and industrial loans |  |  | 1,357 |  |  |  | 65 |  |  |  | 1,332 |  |  |  | 2,754 |  |  |  | 1,034,233 |  |  |  | 1,036,987 |  |  |  | — |
Consumer loans |  |  | 598 |  |  |  | 69 |  |  |  | 95 |  |  |  | 762 |  |  |  | 94,066 |  |  |  | 94,828 |  |  |  | — |
All other loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 151,727 |  |  |  | 151,727 |  |  |  | — |
Total loans |  | $ | 7,185 |  |  | $ | 1,971 |  |  | $ | 12,879 |  |  | $ | 22,035 |  |  | $ | 4,626,628 |  |  | $ | 4,648,663 |  |  | $ | — |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development |  | $ | 159 |  |  | $ | 199 |  |  | $ | 203 |  |  | $ | 561 |  |  | $ | 144,557 |  |  | $ | 145,118 |  |  | $ | — |
Agricultural real estate |  |  | — |  |  |  | 222 |  |  |  | 1 |  |  |  | 223 |  |  |  | 279,049 |  |  |  | 279,272 |  |  |  | — |
1-4 family residential properties |  |  | 2,532 |  |  |  | 914 |  |  |  | 2,012 |  |  |  | 5,458 |  |  |  | 394,855 |  |  |  | 400,313 |  |  |  | — |
Multifamily residential properties |  |  | — |  |  |  | — |  |  |  | 1,676 |  |  |  | 1,676 |  |  |  | 297,266 |  |  |  | 298,942 |  |  |  | — |
Commercial real estate |  |  | 8,930 |  |  |  | 640 |  |  |  | 2,484 |  |  |  | 12,054 |  |  |  | 1,654,144 |  |  |  | 1,666,198 |  |  |  | — |
Loans secured by real estate |  |  | 11,621 |  |  |  | 1,975 |  |  |  | 6,376 |  |  |  | 19,972 |  |  |  | 2,769,871 |  |  |  | 2,789,843 |  |  |  | — |
Agricultural loans |  |  | — |  |  |  | 10 |  |  |  | 588 |  |  |  | 598 |  |  |  | 150,886 |  |  |  | 151,484 |  |  |  | — |
Commercial and industrial loans |  |  | 381 |  |  |  | 302 |  |  |  | 1,156 |  |  |  | 1,839 |  |  |  | 830,169 |  |  |  | 832,008 |  |  |  | — |
Consumer loans |  |  | 388 |  |  |  | 47 |  |  |  | 118 |  |  |  | 553 |  |  |  | 77,889 |  |  |  | 78,442 |  |  |  | — |
All other loans |  |  | 1,854 |  |  |  | — |  |  |  | — |  |  |  | 1,854 |  |  |  | 141,892 |  |  |  | 143,746 |  |  |  | — |
Total loans |  | $ | 14,244 |  |  | $ | 2,334 |  |  | $ | 8,238 |  |  | $ | 24,816 |  |  | $ | 3,970,707 |  |  | $ | 3,995,523 |  |  | $ | — |
Amortized Cost Basis of Loans on Nonaccrual Status and Nonaccrual Loans Individually Evaluated | The following table presents the amortized cost basis of loans on nonaccrual status and of nonaccrual loans individually evaluated for which no allowance was recorded as of June 30, 2022 and December 31, 2021 (in thousands). There were no loans past due over eighty-nine days that were still accruing.
|  | June 30, 2022 |  |  | December 31, 2021 |
|  | Nonaccrual with no Allowance for |  |  | Total |  |  | Nonaccrual with no Allowance for |  |  | Total |
|  | Credit Loss |  |  | Nonaccrual |  |  | Credit Loss |  |  | Nonaccrual |
Construction and land development |  | $ | — |  |  | $ | — |  |  | $ | 25 |  |  | $ | 25 |
Agricultural real estate |  |  | 1,268 |  |  |  | 1,268 |  |  |  | 237 |  |  |  | 336 |
1-4 family residential properties |  |  | 4,045 |  |  |  | 4,680 |  |  |  | 5,252 |  |  |  | 5,252 |
Multifamily residential properties |  |  | 1,311 |  |  |  | 1,311 |  |  |  | 1,982 |  |  |  | 1,982 |
Commercial real estate |  |  | 7,634 |  |  |  | 7,975 |  |  |  | 7,554 |  |  |  | 7,920 |
Loans secured by real estate |  |  | 14,258 |  |  |  | 15,234 |  |  |  | 15,050 |  |  |  | 15,515 |
Agricultural loans |  |  | 174 |  |  |  | 174 |  |  |  | 560 |  |  |  | 560 |
Commercial and industrial loans |  |  | 1,229 |  |  |  | 1,529 |  |  |  | 936 |  |  |  | 1,851 |
Consumer loans |  |  | 98 |  |  |  | 98 |  |  |  | 179 |  |  |  | 179 |
All other loans |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total loans |  | $ | 15,759 |  |  | $ | 17,035 |  |  | $ | 16,725 |  |  | $ | 18,105 |
Recorded Balance of Troubled Debt Restructurings | The following table presents the Company’s recorded balance of troubled debt restructurings at June 30, 2022 and December 31, 2021 (in thousands).
Troubled debt restructurings: |  | June 30, 2022 |  |  | December 31, 2021 |
Agricultural real estate |  | $ | 233 |  |  | $ | 245 |
1-4 family residential properties |  |  | 1,082 |  |  |  | 1,353 |
Commercial real estate |  |  | 3,174 |  |  |  | 3,355 |
Loans secured by real estate |  |  | 4,489 |  |  |  | 4,953 |
Agricultural loans |  |  | 168 |  |  |  | 228 |
Commercial and industrial loans |  |  | 313 |  |  |  | 479 |
Consumer loans |  |  | 42 |  |  |  | 109 |
All other loans |  |  | — |  |  |  | 23 |
Total |  | $ | 5,012 |  |  | $ | 5,792 |
Performing troubled debt restructurings: |  |  |  |  |  |  |  |
Agricultural real estate |  | $ | 233 |  |  | $ | 245 |
1-4 family residential properties |  |  | 659 |  |  |  | 882 |
Commercial real estate |  |  | 1,978 |  |  |  | 2,552 |
Loans secured by real estate |  |  | 2,870 |  |  |  | 3,679 |
Commercial and industrial loans |  |  | 37 |  |  |  | 179 |
Consumer loans |  |  | 39 |  |  |  | 50 |
All other loans |  |  | — |  |  |  | 23 |
Total |  | $ | 2,946 |  |  | $ | 3,931 |
Loans Modified as Troubled Debt Restructurings | The following table presents loans modified as TDRs during the six months ended June 30, 2022, as a result of various modified loan factors (in thousands). The change in the recorded investment from pre-modification to post- modification was not material.
|  | June 30, 2022 |  | June 30, 2021
|  | Number of |  |  | Recorded |  |  | Type of |  | Number of |  |  | Recorded |  |  | Type of
|  | Modifications |  |  | Investment |  |  | Modifications |  | Modifications |  |  | Investment |  |  | Modifications
1-4 family residential properties |  |  | 2 |  |  | $ | 79 |  |  | (b)(c) |  |  | 1 |  |  |  | 395 |  |  | (c)
Commercial real estate |  |  | 2 |  |  |  | 199 |  |  | (b) |  |  | 1 |  |  |  | 679 |  |  | (b)
Loans secured by real estate |  |  | 4 |  |  |  | 278 |  |  |  |  |  | 2 |  |  |  | 1,074 |  |  |
Consumer loans |  |  | — |  |  |  | — |  |  |  |  |  | 3 |  |  |  | 24 |  |  | (b)
Total |  |  | 4 |  |  | $ | 278 |  |  |  |  |  | 5 |  |  | $ | 1,098 |  |  |
Type of modifications:
| (a) | Reduction of stated interest rate of loan
| (b) | Change in payment terms
| (c) | Extension of maturity date
| (d) | Permanent reduction of the recorded investment
Summary of Purchased Credit Deteriorated (PCD) Loans | The Company has acquired loans, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans at acquisition date is as follows (in thousands):
|  | 2022 |  |  |  | 2021 |
|  | Delta Acquisition |  |  |  | LINCO Acquisition |
Purchase price of purchase credit deteriorated loans at acquisition |  | $ | 18,796 |  |  |  | $ | 64,647 |
Allowance for credit losses at acquisition |  |  | (863 | ) |  |  |  | (2,074 | )
Non-credit discount/(premium) at acquisition |  |  | (523 | ) |  |  |  | (187 | )
Fair value of purchased credit deteriorated loans at acquisition |  | $ | 17,410 |  |  |  | $ | 62,386 |

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