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LOANS AND THE ALLOWANCE FOR LOAN LOSSES | 3 Months Ended
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Mar. 31, 2020
LOANS AND THE ALLOWANCE FOR LOAN LOSSES |
LOANS AND THE ALLOWANCE FOR LOAN LOSSES | NOTE 3 – LOANS AND THE ALLOWANCE FOR LOAN LOSSES Major categories of loans are summarized as follows:
|  | March 31, |  | December 31,
|  | 2020 |  | 2019
|  | (dollars in thousands)
Commercial and industrial |  | $ | 299,266 |  | $ | 307,175
Agricultural and farmland |  |  | 228,701 |  |  | 207,776
Commercial real estate - owner occupied |  |  | 229,608 |  |  | 231,162
Commercial real estate - non-owner occupied |  |  | 540,515 |  |  | 579,757
Multi-family |  |  | 177,172 |  |  | 179,073
Construction and land development |  |  | 232,311 |  |  | 224,887
One-to-four family residential |  |  | 313,925 |  |  | 313,580
Municipal, consumer, and other |  |  | 111,454 |  |  | 120,416
Loans, before allowance for loan losses |  |  | 2,132,952 |  |  | 2,163,826
Allowance for loan losses |  |  | (26,087) |  |  | (22,299)
Loans, net of allowance for loan losses |  | $ | 2,106,865 |  | $ | 2,141,527
The following tables detail activity in the allowance for loan losses for the three months ended March 31:
|  |  |  |  |  |  |  | Commercial |  | Commercial |  |  |  |  |  |  |  |  |  |  | Municipal, |  |  |
|  | Commercial |  | Agricultural |  | Real Estate |  | Real Estate |  |  |  |  | Construction |  | One-to-four |  | Consumer, |  |  |
|  | and |  | and |  | Owner |  | Non-owner |  |  |  |  | and Land |  | Family |  | and |  |  |
Three Months Ended March 31, 2020 |  | Industrial |  | Farmland |  | Occupied |  | Occupied |  | Multi-Family |  | Development |  | Residential |  | Other |  | Total
Allowance for loan losses: |  | (dollars in thousands)
Balance, December 31, 2019 |  | $ | 4,441 |  | $ | 2,766 |  | $ | 1,779 |  | $ | 3,663 |  | $ | 1,024 |  | $ | 2,977 |  | $ | 2,540 |  | $ | 3,109 |  | $ | 22,299
Provision for loan losses |  |  | 538 |  |  | 254 |  |  | (97) |  |  | 820 |  |  | 450 |  |  | 237 |  |  | 777 |  |  | 1,376 |  |  | 4,355
Charge-offs |  |  | (809) |  |  | (27) |  |  | — |  |  | (56) |  |  | — |  |  | (1) |  |  | (104) |  |  | (224) |  |  | (1,221)
Recoveries |  |  | 54 |  |  | — |  |  | 440 |  |  | 5 |  |  | — |  |  | 10 |  |  | 71 |  |  | 74 |  |  | 654
Balance, March 31, 2020 |  | $ | 4,224 |  | $ | 2,993 |  | $ | 2,122 |  | $ | 4,432 |  | $ | 1,474 |  | $ | 3,223 |  | $ | 3,284 |  | $ | 4,335 |  | $ | 26,087
|  |  |  |  |  |  |  | Commercial |  | Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Commercial |  | Agricultural |  | Real Estate |  | Real Estate |  |  |  |  |  |  |  |  |  |  | Consumer |  |  |
|  | and |  | and |  | Owner |  | Non-owner |  |  |  |  | Construction |  | Residential |  | and |  |  |
Three Months Ended March 31, 2019 |  | Industrial |  | Farmland |  | Occupied |  | Occupied |  | Multi-Family |  | and Land |  | Real Estate |  | Other |  | Total
Allowance for loan losses: |  | (dollars in thousands)
Balance, December 31, 2018 |  | $ | 3,748 |  | $ | 2,650 |  | $ | 2,506 |  | $ | 2,644 |  | $ | 912 |  | $ | 4,176 |  | $ | 2,782 |  | $ | 1,091 |  | $ | 20,509
Provision for loan losses |  |  | 222 |  |  | 598 |  |  | (107) |  |  | 74 |  |  | 60 |  |  | (290) |  |  | 211 |  |  | 8 |  |  | 776
Charge-offs |  |  | (256) |  |  | — |  |  | (65) |  |  | — |  |  | — |  |  | — |  |  | (37) |  |  | (175) |  |  | (533)
Recoveries |  |  | 48 |  |  | — |  |  | 19 |  |  | 4 |  |  | — |  |  | 11 |  |  | 111 |  |  | 68 |  |  | 261
Balance, March 31, 2019 |  | $ | 3,762 |  | $ | 3,248 |  | $ | 2,353 |  | $ | 2,722 |  | $ | 972 |  | $ | 3,897 |  | $ | 3,067 |  | $ | 992 |  | $ | 21,013
The following tables present the recorded investments in loans and the allowance for loan losses by category as of March 31, 2020 and December 31, 2019:
|  |  |  |  |  |  |  | Commercial |  | Commercial |  |  |  |  |  |  |  |  |  |  | Municipal, |  |  |
|  | Commercial |  | Agricultural |  | Real Estate |  | Real Estate |  |  |  |  | Construction |  | One-to-four |  | Consumer, |  |  |
|  | and |  | and |  | Owner |  | Non-owner |  |  |  |  | and Land |  | Family |  | and |  |  |
March 31, 2020 |  | Industrial |  | Farmland |  | Occupied |  | Occupied |  | Multi-Family |  | Development |  | Residential |  | Other |  | Total
Loan balances: |  | (dollars in thousands)
Collectively evaluated for impairment |  | $ | 287,998 |  | $ | 214,328 |  | $ | 210,206 |  | $ | 522,305 |  | $ | 175,874 |  | $ | 225,768 |  | $ | 292,250 |  | $ | 97,603 |  | $ | 2,026,332
Individually evaluated for impairment |  |  | 9,122 |  |  | 13,303 |  |  | 11,171 |  |  | 3,367 |  |  | — |  |  | 3,120 |  |  | 11,394 |  |  | 13,762 |  |  | 65,239
Acquired with deteriorated credit quality |  |  | 2,146 |  |  | 1,070 |  |  | 8,231 |  |  | 14,843 |  |  | 1,298 |  |  | 3,423 |  |  | 10,281 |  |  | 89 |  |  | 41,381
Total |  | $ | 299,266 |  | $ | 228,701 |  | $ | 229,608 |  | $ | 540,515 |  | $ | 177,172 |  | $ | 232,311 |  | $ | 313,925 |  | $ | 111,454 |  | $ | 2,132,952
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collectively evaluated for impairment |  | $ | 2,260 |  | $ | 2,832 |  | $ | 1,618 |  | $ | 4,354 |  | $ | 1,467 |  | $ | 2,771 |  | $ | 2,524 |  | $ | 899 |  | $ | 18,725
Individually evaluated for impairment |  |  | 1,859 |  |  | 90 |  |  | 261 |  |  | 68 |  |  | — |  |  | 323 |  |  | 719 |  |  | 3,435 |  |  | 6,755
Acquired with deteriorated credit quality |  |  | 105 |  |  | 71 |  |  | 243 |  |  | 10 |  |  | 7 |  |  | 129 |  |  | 41 |  |  | 1 |  |  | 607
Total |  | $ | 4,224 |  | $ | 2,993 |  | $ | 2,122 |  | $ | 4,432 |  | $ | 1,474 |  | $ | 3,223 |  | $ | 3,284 |  | $ | 4,335 |  | $ | 26,087
|  |  |  |  |  |  |  | Commercial |  | Commercial |  |  |  |  |  |  |  |  |  |  | Municipal, |  |  |
|  | Commercial |  | Agricultural |  | Real Estate |  | Real Estate |  |  |  |  | Construction |  | One-to-four |  | Consumer, |  |  |
|  | and |  | and |  | Owner |  | Non-owner |  |  |  |  | and Land |  | Family |  | and |  |  |
December 31, 2019 |  | Industrial |  | Farmland |  | Occupied |  | Occupied |  | Multi-Family |  | Development |  | Residential |  | Other |  | Total
Loan balances: |  | (dollars in thousands)
Collectively evaluated for impairment |  | $ | 294,006 |  | $ | 192,722 |  | $ | 211,744 |  | $ | 561,277 |  | $ | 176,273 |  | $ | 217,708 |  | $ | 291,624 |  | $ | 106,448 |  | $ | 2,051,802
Individually evaluated for impairment |  |  | 10,733 |  |  | 13,966 |  |  | 10,927 |  |  | 3,398 |  |  | 1,324 |  |  | 3,782 |  |  | 11,349 |  |  | 13,872 |  |  | 69,351
Acquired with deteriorated credit quality |  |  | 2,436 |  |  | 1,088 |  |  | 8,491 |  |  | 15,082 |  |  | 1,476 |  |  | 3,397 |  |  | 10,607 |  |  | 96 |  |  | 42,673
Total |  | $ | 307,175 |  | $ | 207,776 |  | $ | 231,162 |  | $ | 579,757 |  | $ | 179,073 |  | $ | 224,887 |  | $ | 313,580 |  | $ | 120,416 |  | $ | 2,163,826
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collectively evaluated for impairment |  | $ | 1,926 |  | $ | 2,576 |  | $ | 1,486 |  | $ | 3,591 |  | $ | 1,019 |  | $ | 2,283 |  | $ | 1,684 |  | $ | 931 |  | $ | 15,496
Individually evaluated for impairment |  |  | 2,170 |  |  | 105 |  |  | 270 |  |  | 70 |  |  | — |  |  | 567 |  |  | 822 |  |  | 2,176 |  |  | 6,180
Acquired with deteriorated credit quality |  |  | 345 |  |  | 85 |  |  | 23 |  |  | 2 |  |  | 5 |  |  | 127 |  |  | 34 |  |  | 2 |  |  | 623
Total |  | $ | 4,441 |  | $ | 2,766 |  | $ | 1,779 |  | $ | 3,663 |  | $ | 1,024 |  | $ | 2,977 |  | $ | 2,540 |  | $ | 3,109 |  | $ | 22,299
The following tables present loans individually evaluated for impairment by category of loans as of March 31, 2020 and December 31, 2019:
|  | Unpaid |  |  |  |  |  |
|  | Principal |  | Recorded |  | Related
March 31, 2020 |  | Balance |  | Investment |  | Allowance
With an allowance recorded: |  | (dollars in thousands)
Commercial and industrial |  | $ | 3,458 |  | $ | 3,458 |  | $ | 1,859
Agricultural and farmland |  |  | 569 |  |  | 565 |  |  | 90
Commercial real estate - owner occupied |  |  | 824 |  |  | 824 |  |  | 261
Commercial real estate - non-owner occupied |  |  | 98 |  |  | 98 |  |  | 68
Multi-family |  |  | — |  |  | — |  |  | —
Construction and land development |  |  | 3,014 |  |  | 3,014 |  |  | 323
One-to-four family residential |  |  | 3,184 |  |  | 3,171 |  |  | 719
Municipal, consumer, and other |  |  | 12,441 |  |  | 12,414 |  |  | 3,435
Total |  | $ | 23,588 |  | $ | 23,544 |  | $ | 6,755
With no related allowance: |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 5,665 |  | $ | 5,664 |  | $ | —
Agricultural and farmland |  |  | 12,753 |  |  | 12,738 |  |  | —
Commercial real estate - owner occupied |  |  | 10,348 |  |  | 10,347 |  |  | —
Commercial real estate - non-owner occupied |  |  | 3,263 |  |  | 3,269 |  |  | —
Multi-family |  |  | — |  |  | — |  |  | —
Construction and land development |  |  | 107 |  |  | 106 |  |  | —
One-to-four family residential |  |  | 8,257 |  |  | 8,223 |  |  | —
Municipal, consumer, and other |  |  | 1,361 |  |  | 1,348 |  |  | —
Total |  | $ | 41,754 |  | $ | 41,695 |  | $ | —
Total |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 9,123 |  | $ | 9,122 |  | $ | 1,859
Agricultural and farmland |  |  | 13,322 |  |  | 13,303 |  |  | 90
Commercial real estate - owner occupied |  |  | 11,172 |  |  | 11,171 |  |  | 261
Commercial real estate - non-owner occupied |  |  | 3,361 |  |  | 3,367 |  |  | 68
Multi-family |  |  | — |  |  | — |  |  | —
Construction and land development |  |  | 3,121 |  |  | 3,120 |  |  | 323
One-to-four family residential |  |  | 11,441 |  |  | 11,394 |  |  | 719
Municipal, consumer, and other |  |  | 13,802 |  |  | 13,762 |  |  | 3,435
Total |  | $ | 65,342 |  | $ | 65,239 |  | $ | 6,755
|  | Unpaid |  |  |  |  |  |
|  | Principal |  | Recorded |  | Related
December 31, 2019 |  | Balance |  | Investment |  | Allowance
With an allowance recorded: |  | (dollars in thousands)
Commercial and industrial |  | $ | 4,292 |  | $ | 4,292 |  | $ | 2,170
Agricultural and farmland |  |  | 590 |  |  | 590 |  |  | 105
Commercial real estate - owner occupied |  |  | 830 |  |  | 830 |  |  | 270
Commercial real estate - non-owner occupied |  |  | 99 |  |  | 99 |  |  | 70
Multi-family |  |  | — |  |  | — |  |  | —
Construction and land development |  |  | 3,679 |  |  | 3,679 |  |  | 567
One-to-four family residential |  |  | 3,401 |  |  | 3,390 |  |  | 822
Municipal, consumer, and other |  |  | 9,138 |  |  | 9,111 |  |  | 2,176
Total |  | $ | 22,029 |  | $ | 21,991 |  | $ | 6,180
With no related allowance: |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 6,438 |  | $ | 6,441 |  | $ | —
Agricultural and farmland |  |  | 13,369 |  |  | 13,376 |  |  | —
Commercial real estate - owner occupied |  |  | 10,089 |  |  | 10,097 |  |  | —
Commercial real estate - non-owner occupied |  |  | 3,297 |  |  | 3,299 |  |  | —
Multi-family |  |  | 1,328 |  |  | 1,324 |  |  | —
Construction and land development |  |  | 104 |  |  | 103 |  |  | —
One-to-four family residential |  |  | 7,986 |  |  | 7,959 |  |  | —
Municipal, consumer, and other |  |  | 4,775 |  |  | 4,761 |  |  | —
Total |  | $ | 47,386 |  | $ | 47,360 |  | $ | —
Total |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 10,730 |  | $ | 10,733 |  | $ | 2,170
Agricultural and farmland |  |  | 13,959 |  |  | 13,966 |  |  | 105
Commercial real estate - owner occupied |  |  | 10,919 |  |  | 10,927 |  |  | 270
Commercial real estate - non-owner occupied |  |  | 3,396 |  |  | 3,398 |  |  | 70
Multi-family |  |  | 1,328 |  |  | 1,324 |  |  | —
Construction and land development |  |  | 3,783 |  |  | 3,782 |  |  | 567
One-to-four family residential |  |  | 11,387 |  |  | 11,349 |  |  | 822
Municipal, consumer, and other |  |  | 13,913 |  |  | 13,872 |  |  | 2,176
Total |  | $ | 69,415 |  | $ | 69,351 |  | $ | 6,180
The following table presents the average recorded investment and interest income recognized for loans individually evaluated for impairment by category of loans during the three months ended March 31, 2020 and 2019:
|  | Three Months Ended March 31,
|  | 2020 |  | 2019
|  | Average |  | Interest |  | Average |  | Interest
|  | Recorded |  | Income |  | Recorded |  | Income
|  | Investment |  | Recognized |  | Investment |  | Recognized
With an allowance recorded: |  | (dollars in thousands)
Commercial and industrial |  | $ | 3,486 |  | $ | 49 |  | $ | 3,122 |  | $ | 35
Agricultural and farmland |  |  | 573 |  |  | 4 |  |  | 1,733 |  |  | 20
Commercial real estate - owner occupied |  |  | 828 |  |  | 11 |  |  | 6,450 |  |  | 69
Commercial real estate - non-owner occupied |  |  | 99 |  |  | 2 |  |  | 103 |  |  | 2
Multi-family |  |  | — |  |  | — |  |  | 1,359 |  |  | 18
Construction and land development |  |  | 3,064 |  |  | 41 |  |  | 2,892 |  |  | 44
One-to-four family residential |  |  | 3,261 |  |  | 27 |  |  | 3,034 |  |  | 22
Municipal, consumer, and other |  |  | 12,487 |  |  | 83 |  |  | 241 |  |  | 2
Total |  | $ | 23,798 |  | $ | 217 |  | $ | 18,934 |  | $ | 212
With no related allowance: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 5,941 |  | $ | 58 |  | $ | 11,251 |  | $ | 93
Agricultural and farmland |  |  | 12,520 |  |  | 161 |  |  | 9,562 |  |  | 101
Commercial real estate - owner occupied |  |  | 10,432 |  |  | 131 |  |  | 13,024 |  |  | 133
Commercial real estate - non-owner occupied |  |  | 3,340 |  |  | 41 |  |  | 8,242 |  |  | 87
Multi-family |  |  | — |  |  | — |  |  | — |  |  | —
Construction and land development |  |  | 324 |  |  | 4 |  |  | 123 |  |  | 1
One-to-four family residential |  |  | 8,344 |  |  | 62 |  |  | 9,641 |  |  | 69
Municipal, consumer, and other |  |  | 1,370 |  |  | 56 |  |  | 146 |  |  | 1
Total |  | $ | 42,271 |  | $ | 513 |  | $ | 51,989 |  | $ | 485
Total |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 9,427 |  | $ | 107 |  | $ | 14,373 |  | $ | 128
Agricultural and farmland |  |  | 13,093 |  |  | 165 |  |  | 11,295 |  |  | 121
Commercial real estate - owner occupied |  |  | 11,260 |  |  | 142 |  |  | 19,474 |  |  | 202
Commercial real estate - non-owner occupied |  |  | 3,439 |  |  | 43 |  |  | 8,345 |  |  | 89
Multi-family |  |  | — |  |  | — |  |  | 1,359 |  |  | 18
Construction and land development |  |  | 3,388 |  |  | 45 |  |  | 3,015 |  |  | 45
One-to-four family residential |  |  | 11,605 |  |  | 89 |  |  | 12,675 |  |  | 91
Municipal, consumer, and other |  |  | 13,857 |  |  | 139 |  |  | 387 |  |  | 3
Total |  | $ | 66,069 |  | $ | 730 |  | $ | 70,923 |  | $ | 697
The following tables present the recorded investment in loans by category based on current payment and accrual status as of March 31, 2020 and December 31, 2019:
|  | Accruing Interest |  |  |  |  |  |
|  |  |  |  | 30 - 89 Days |  | 90+ Days |  |  |  |  | Total
March 31, 2020 |  | Current |  | Past Due |  | Past Due |  | Nonaccrual |  | Loans
|  | (dollars in thousands)
Commercial and industrial |  | $ | 295,114 |  | $ | 244 |  | $ | — |  | $ | 3,908 |  | $ | 299,266
Agricultural and farmland |  |  | 222,877 |  |  | — |  |  | — |  |  | 5,824 |  |  | 228,701
Commercial real estate - owner occupied |  |  | 227,160 |  |  | 1,642 |  |  | — |  |  | 806 |  |  | 229,608
Commercial real estate - non-owner occupied |  |  | 539,807 |  |  | 485 |  |  | — |  |  | 223 |  |  | 540,515
Multi-family |  |  | 177,172 |  |  | — |  |  | — |  |  | — |  |  | 177,172
Construction and land development |  |  | 232,142 |  |  | — |  |  | — |  |  | 169 |  |  | 232,311
One-to-four family residential |  |  | 307,003 |  |  | 2,416 |  |  | 264 |  |  | 4,242 |  |  | 313,925
Municipal, consumer, and other |  |  | 111,040 |  |  | 214 |  |  | — |  |  | 200 |  |  | 111,454
Total |  | $ | 2,112,315 |  | $ | 5,001 |  | $ | 264 |  | $ | 15,372 |  | $ | 2,132,952
|  | Accruing Interest |  |  |  |  |  |
|  |  |  |  | 30 - 89 Days |  | 90+ Days |  |  |  |  | Total
December 31, 2019 |  | Current |  | Past Due |  | Past Due |  | Nonaccrual |  | Loans
|  | (dollars in thousands)
Commercial and industrial |  | $ | 301,975 |  | $ | 558 |  | $ | — |  | $ | 4,642 |  | $ | 307,175
Agricultural and farmland |  |  | 201,519 |  |  | — |  |  | — |  |  | 6,257 |  |  | 207,776
Commercial real estate - owner occupied |  |  | 228,218 |  |  | 941 |  |  | — |  |  | 2,003 |  |  | 231,162
Commercial real estate - non-owner occupied |  |  | 579,626 |  |  | 131 |  |  | — |  |  | — |  |  | 579,757
Multi-family |  |  | 177,696 |  |  | — |  |  | — |  |  | 1,377 |  |  | 179,073
Construction and land development |  |  | 224,716 |  |  | 140 |  |  | — |  |  | 31 |  |  | 224,887
One-to-four family residential |  |  | 307,712 |  |  | 1,329 |  |  | 75 |  |  | 4,464 |  |  | 313,580
Municipal, consumer, and other |  |  | 119,898 |  |  | 247 |  |  | 26 |  |  | 245 |  |  | 120,416
Total |  | $ | 2,141,360 |  | $ | 3,346 |  | $ | 101 |  | $ | 19,019 |  | $ | 2,163,826
The following tables present total loans by category based on their assigned risk ratings determined by management as of March 31, 2020 and December 31, 2019:
March 31, 2020 |  | Pass |  | Watch |  | Substandard |  | Doubtful |  | Total
|  | (dollars in thousands)
Commercial and industrial |  | $ | 262,646 |  | $ | 25,831 |  | $ | 10,789 |  | $ | — |  | $ | 299,266
Agricultural and farmland |  |  | 202,195 |  |  | 12,409 |  |  | 14,097 |  |  | — |  |  | 228,701
Commercial real estate - owner occupied |  |  | 197,131 |  |  | 20,884 |  |  | 11,593 |  |  | — |  |  | 229,608
Commercial real estate - non-owner occupied |  |  | 490,549 |  |  | 48,008 |  |  | 1,958 |  |  | — |  |  | 540,515
Multi-family |  |  | 175,824 |  |  | 1,348 |  |  | — |  |  | — |  |  | 177,172
Construction and land development |  |  | 225,022 |  |  | 3,765 |  |  | 3,524 |  |  | — |  |  | 232,311
One-to-four family residential |  |  | 289,942 |  |  | 11,406 |  |  | 12,577 |  |  | — |  |  | 313,925
Municipal, consumer, and other |  |  | 97,404 |  |  | 293 |  |  | 13,757 |  |  | — |  |  | 111,454
Total |  | $ | 1,940,713 |  | $ | 123,944 |  | $ | 68,295 |  | $ | — |  | $ | 2,132,952
December 31, 2019 |  | Pass |  | Watch |  | Substandard |  | Doubtful |  | Total
|  | (dollars in thousands)
Commercial and industrial |  | $ | 267,645 |  | $ | 27,114 |  | $ | 12,416 |  | $ | — |  | $ | 307,175
Agricultural and farmland |  |  | 180,735 |  |  | 12,267 |  |  | 14,774 |  |  | — |  |  | 207,776
Commercial real estate - owner occupied |  |  | 198,710 |  |  | 21,745 |  |  | 10,707 |  |  | — |  |  | 231,162
Commercial real estate - non-owner occupied |  |  | 531,694 |  |  | 46,092 |  |  | 1,971 |  |  | — |  |  | 579,757
Multi-family |  |  | 175,807 |  |  | 1,771 |  |  | 1,495 |  |  | — |  |  | 179,073
Construction and land development |  |  | 217,120 |  |  | 3,582 |  |  | 4,185 |  |  | — |  |  | 224,887
One-to-four family residential |  |  | 287,036 |  |  | 13,546 |  |  | 12,998 |  |  | — |  |  | 313,580
Municipal, consumer, and other |  |  | 106,063 |  |  | 479 |  |  | 13,874 |  |  | — |  |  | 120,416
Total |  | $ | 1,964,810 |  | $ | 126,596 |  | $ | 72,420 |  | $ | — |  | $ | 2,163,826
There were no troubled debt restructurings during the three months ended March 31, 2020. The following tables present the financial effect of troubled debt restructurings for the three months ended March 31, 2019:
|  |  |  |  |  |  |  |  |  | Charge-offs
|  |  |  | Recorded Investment |  | and Specific
Three Months Ended March 31, 2019 |  | Number |  | Pre-Modification |  | Post-Modification |  | Reserves
|  | (dollars in thousands)
Agricultural and farmland |  | 1 |  | $ | 285 |  | $ | 285 |  | $ | 30
Total |  | 1 |  | $ | 285 |  | $ | 285 |  | $ | 30
During the three months ended March 31, 2019, all troubled debt restructurings were the result of a payment concession. Of the troubled debt restructurings entered into during the last 12 months, there were none which had subsequent payment defaults during the three months ended March 31, 2020 and $672,000 which had subsequent payment defaults during the three months ended March 31, 2019. For purposes of this disclosure, the Company considers “default” to mean 90 days or more past due as to interest or principal or were on nonaccrual status subsequent to restructuring. As of March 31, 2020 and December 31, 2019, the Company had $8,805,000 and $9,315,000 of troubled debt restructurings, respectively. Restructured loans are evaluated for impairment quarterly as part of the Company’s determination of the allowance for loan losses. There were no material commitments to lend additional funds to debtors owing receivables whose terms have been modified in troubled debt restructurings. Changes in the accretable yield for loans acquired with deteriorated credit quality were as follows for the three months ended March 31, 2020 and 2019:
|  | Three Months Ended March 31, |
|  | 2020 |  | 2019 |
|  | (dollars in thousands) |
Beginning balance |  | $ | 1,662 |  | $ | 2,101 |
Reclassification from non-accretable difference |  |  | 8 |  |  | 136 |
Accretion income |  |  | (160) |  |  | (527) |
Ending balance |  | $ | 1,510 |  | $ | 1,710 |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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