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LOANS AND THE ALLOWANCE FOR LOAN LOSSES | 12 Months Ended
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Dec. 31, 2020
LOANS AND THE ALLOWANCE FOR LOAN LOSSES |
LOANS AND THE ALLOWANCE FOR LOAN LOSSES | NOTE 4 – LOANS AND THE ALLOWANCE FOR LOAN LOSSES Major categories of loans as of December 31, 2020 and 2019 are summarized as follows:
|  | December 31, |  | December 31,
|  | 2020 |  | 2019
|  | (dollars in thousands)
Commercial and industrial |  | $ | 393,312 |  | $ | 307,175
Agricultural and farmland |  |  | 222,723 |  |  | 207,776
Commercial real estate - owner occupied |  |  | 222,360 |  |  | 231,162
Commercial real estate - non-owner occupied |  |  | 520,395 |  |  | 579,757
Multi-family |  |  | 236,391 |  |  | 179,073
Construction and land development |  |  | 225,652 |  |  | 224,887
One-to-four family residential |  |  | 306,775 |  |  | 313,580
Municipal, consumer, and other |  |  | 119,398 |  |  | 120,416
Loans, before allowance for loan losses |  |  | 2,247,006 |  |  | 2,163,826
Allowance for loan losses |  |  | (31,838) |  |  | (22,299)
Loans, net of allowance for loan losses |  | $ | 2,215,168 |  | $ | 2,141,527
Paycheck Protection Program (PPP) loans (included above) |  |  |  |  |  |
Commercial and industrial |  | $ | 153,860 |  | $ | —
Agricultural and farmland |  |  | 3,049 |  |  | —
Municipal, consumer, and other |  |  | 6,587 |  |  | —
Total PPP loans |  | $ | 163,496 |  | $ | —
The following tables detail activity in the allowance for loan losses for the years ended December 31:
|  |  |  |  |  |  |  | Commercial |  | Commercial |  |  |  |  |  |  |  |  |  |  | Municipal, |  |  |
|  | Commercial |  | Agricultural |  | Real Estate |  | Real Estate |  |  |  |  | Construction |  | One-to-four |  | Consumer, |  |  |
|  | and |  | and |  | Owner |  | Non-owner |  |  |  |  | and Land |  | Family |  | and |  |  |
|  | Industrial |  | Farmland |  | Occupied |  | Occupied |  | Multi-Family |  | Development |  | Residential |  | Other |  | Total
Allowance for loan losses: |  | (dollars in thousands)
Balance, December 31, 2017 |  | $ | 5,411 |  | $ | 2,385 |  | $ | 1,510 |  | $ | 2,476 |  | $ | 997 |  | $ | 2,981 |  | $ | 2,723 |  | $ | 1,282 |  | $ | 19,765
Provision for loan losses |  |  | (532) |  |  | 265 |  |  | 3,294 |  |  | 264 |  |  | 109 |  |  | 993 |  |  | 984 |  |  | 320 |  |  | 5,697
Charge-offs |  |  | (1,446) |  |  | — |  |  | (2,352) |  |  | (237) |  |  | (194) |  |  | (58) |  |  | (1,415) |  |  | (783) |  |  | (6,485)
Recoveries |  |  | 315 |  |  | — |  |  | 54 |  |  | 141 |  |  | — |  |  | 260 |  |  | 490 |  |  | 272 |  |  | 1,532
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 |  |  | 1,139 |  |  | 146 |  |  | (376) |  |  | 1,110 |  |  | 153 |  |  | (1,640) |  |  | 513 |  |  | 2,359 |  |  | 3,404
Charge-offs |  |  | (886) |  |  | (30) |  |  | (407) |  |  | (111) |  |  | (41) |  |  | (9) |  |  | (1,105) |  |  | (684) |  |  | (3,273)
Recoveries |  |  | 440 |  |  | — |  |  | 56 |  |  | 20 |  |  | — |  |  | 450 |  |  | 350 |  |  | 343 |  |  | 1,659
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 |  |  | 677 |  |  | (1,946) |  |  | 961 |  |  | 7,862 |  |  | 933 |  |  | 1,032 |  |  | (894) |  |  | 1,907 |  |  | 10,532
Charge-offs |  |  | (1,784) |  |  | (27) |  |  | (39) |  |  | (349) |  |  | — |  |  | (27) |  |  | (155) |  |  | (587) |  |  | (2,968)
Recoveries |  |  | 595 |  |  | — |  |  | 440 |  |  | 75 |  |  | — |  |  | 250 |  |  | 310 |  |  | 305 |  |  | 1,975
Balance, December 31, 2020 |  | $ | 3,929 |  | $ | 793 |  | $ | 3,141 |  | $ | 11,251 |  | $ | 1,957 |  | $ | 4,232 |  | $ | 1,801 |  | $ | 4,734 |  | $ | 31,838
The following tables present the recorded investments in loans and the allowance for loan losses by category as of December 31:
|  |  |  |  |  |  |  | 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, 2020 |  | Industrial |  | Farmland |  | Occupied |  | Occupied |  | Multi-Family |  | Development |  | Residential |  | Other |  | Total
Loan balances: |  | (dollars in thousands)
Collectively evaluated for impairment |  | $ | 387,072 |  | $ | 217,077 |  | $ | 201,417 |  | $ | 480,165 |  | $ | 234,252 |  | $ | 219,822 |  | $ | 287,845 |  | $ | 105,796 |  | $ | 2,133,446
Individually evaluated for impairment |  |  | 5,312 |  |  | 4,793 |  |  | 13,132 |  |  | 25,993 |  |  | 876 |  |  | 3,809 |  |  | 10,343 |  |  | 13,546 |  |  | 77,804
Acquired with deteriorated credit quality |  |  | 928 |  |  | 853 |  |  | 7,811 |  |  | 14,237 |  |  | 1,263 |  |  | 2,021 |  |  | 8,587 |  |  | 56 |  |  | 35,756
Total |  | $ | 393,312 |  | $ | 222,723 |  | $ | 222,360 |  | $ | 520,395 |  | $ | 236,391 |  | $ | 225,652 |  | $ | 306,775 |  | $ | 119,398 |  | $ | 2,247,006
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collectively evaluated for impairment |  | $ | 2,736 |  | $ | 771 |  | $ | 2,306 |  | $ | 6,736 |  | $ | 1,950 |  | $ | 3,984 |  | $ | 1,237 |  | $ | 1,432 |  | $ | 21,152
Individually evaluated for impairment |  |  | 1,193 |  |  | 22 |  |  | 429 |  |  | 4,255 |  |  | — |  |  | 222 |  |  | 560 |  |  | 3,301 |  |  | 9,982
Acquired with deteriorated credit quality |  |  | — |  |  | — |  |  | 406 |  |  | 260 |  |  | 7 |  |  | 26 |  |  | 4 |  |  | 1 |  |  | 704
Total |  | $ | 3,929 |  | $ | 793 |  | $ | 3,141 |  | $ | 11,251 |  | $ | 1,957 |  | $ | 4,232 |  | $ | 1,801 |  | $ | 4,734 |  | $ | 31,838
|  |  |  |  |  |  |  | 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 December 31:
|  | Unpaid |  |  |  |  |  |
|  | Principal |  | Recorded |  | Related
December 31, 2020 |  | Balance |  | Investment |  | Allowance
With an allowance recorded: |  | (dollars in thousands)
Commercial and industrial |  | $ | 2,737 |  | $ | 2,725 |  | $ | 1,193
Agricultural and farmland |  |  | 169 |  |  | 168 |  |  | 22
Commercial real estate - owner occupied |  |  | 3,072 |  |  | 3,040 |  |  | 429
Commercial real estate - non-owner occupied |  |  | 20,726 |  |  | 20,394 |  |  | 4,255
Multi-family |  |  | — |  |  | — |  |  | —
Construction and land development |  |  | 2,081 |  |  | 2,055 |  |  | 222
One-to-four family residential |  |  | 2,963 |  |  | 2,739 |  |  | 560
Municipal, consumer, and other |  |  | 12,207 |  |  | 12,181 |  |  | 3,301
Total |  | $ | 43,955 |  | $ | 43,302 |  | $ | 9,982
With no related allowance: |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 3,322 |  | $ | 2,587 |  | $ | —
Agricultural and farmland |  |  | 4,625 |  |  | 4,625 |  |  | —
Commercial real estate - owner occupied |  |  | 10,164 |  |  | 10,092 |  |  | —
Commercial real estate - non-owner occupied |  |  | 5,727 |  |  | 5,599 |  |  | —
Multi-family |  |  | 876 |  |  | 876 |  |  | —
Construction and land development |  |  | 1,762 |  |  | 1,754 |  |  | —
One-to-four family residential |  |  | 9,325 |  |  | 7,604 |  |  | —
Municipal, consumer, and other |  |  | 1,431 |  |  | 1,365 |  |  | —
Total |  | $ | 37,232 |  | $ | 34,502 |  | $ | —
Total |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 6,059 |  | $ | 5,312 |  | $ | 1,193
Agricultural and farmland |  |  | 4,794 |  |  | 4,793 |  |  | 22
Commercial real estate - owner occupied |  |  | 13,236 |  |  | 13,132 |  |  | 429
Commercial real estate - non-owner occupied |  |  | 26,453 |  |  | 25,993 |  |  | 4,255
Multi-family |  |  | 876 |  |  | 876 |  |  | —
Construction and land development |  |  | 3,843 |  |  | 3,809 |  |  | 222
One-to-four family residential |  |  | 12,288 |  |  | 10,343 |  |  | 560
Municipal, consumer, and other |  |  | 13,638 |  |  | 13,546 |  |  | 3,301
Total |  | $ | 81,187 |  | $ | 77,804 |  | $ | 9,982
|  | 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 years ended December 31:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | Average |  | Interest |  | Average |  | Interest |  | Average |  | Interest
|  | Recorded |  | Income |  | Recorded |  | Income |  | Recorded |  | Income
|  | Investment |  | Recognized |  | Investment |  | Recognized |  | Investment |  | Recognized
With an allowance recorded: |  | (dollars in thousands)
Commercial and industrial |  | $ | 3,031 |  | $ | 169 |  | $ | 5,275 |  | $ | 152 |  | $ | 4,274 |  | $ | 106
Agricultural and farmland |  |  | 273 |  |  | 9 |  |  | 464 |  |  | 12 |  |  | 566 |  |  | 16
Commercial real estate - owner occupied |  |  | 1,622 |  |  | 98 |  |  | 874 |  |  | 43 |  |  | 3,574 |  |  | 67
Commercial real estate - non-owner occupied |  |  | 6,345 |  |  | 220 |  |  | 101 |  |  | 7 |  |  | 640 |  |  | 7
Multi-family |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,472 |  |  | 66
Construction and land development |  |  | 2,441 |  |  | 116 |  |  | 3,988 |  |  | 171 |  |  | 2,593 |  |  | 161
One-to-four family residential |  |  | 3,120 |  |  | 110 |  |  | 3,414 |  |  | 79 |  |  | 3,377 |  |  | 82
Municipal, consumer, and other |  |  | 10,617 |  |  | 286 |  |  | 9,284 |  |  | 396 |  |  | 302 |  |  | 5
Total |  | $ | 27,449 |  | $ | 1,008 |  | $ | 23,400 |  | $ | 860 |  | $ | 16,798 |  | $ | 510
With no related allowance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 4,004 |  | $ | 251 |  | $ | 6,744 |  | $ | 206 |  | $ | 5,093 |  | $ | 59
Agricultural and farmland |  |  | 11,061 |  |  | 561 |  |  | 14,826 |  |  | 824 |  |  | 8,815 |  |  | 526
Commercial real estate - owner occupied |  |  | 11,056 |  |  | 528 |  |  | 10,190 |  |  | 483 |  |  | 12,217 |  |  | 384
Commercial real estate - non-owner occupied |  |  | 14,412 |  |  | 458 |  |  | 3,465 |  |  | 131 |  |  | 7,110 |  |  | 147
Multi-family |  |  | 447 |  |  | 10 |  |  | 1,344 |  |  | 9 |  |  | 355 |  |  | 17
Construction and land development |  |  | 892 |  |  | 23 |  |  | 107 |  |  | 4 |  |  | 528 |  |  | 3
One-to-four family residential |  |  | 8,022 |  |  | 316 |  |  | 8,360 |  |  | 240 |  |  | 10,706 |  |  | 168
Municipal, consumer, and other |  |  | 3,089 |  |  | 115 |  |  | 4,874 |  |  | 104 |  |  | 297 |  |  | 5
Total |  | $ | 52,983 |  | $ | 2,262 |  | $ | 49,910 |  | $ | 2,001 |  | $ | 45,121 |  | $ | 1,309
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 7,035 |  | $ | 420 |  | $ | 12,019 |  | $ | 358 |  | $ | 9,367 |  | $ | 165
Agricultural and farmland |  |  | 11,334 |  |  | 570 |  |  | 15,290 |  |  | 836 |  |  | 9,381 |  |  | 542
Commercial real estate - owner occupied |  |  | 12,678 |  |  | 626 |  |  | 11,064 |  |  | 526 |  |  | 15,791 |  |  | 451
Commercial real estate - non-owner occupied |  |  | 20,757 |  |  | 678 |  |  | 3,566 |  |  | 138 |  |  | 7,750 |  |  | 154
Multi-family |  |  | 447 |  |  | 10 |  |  | 1,344 |  |  | 9 |  |  | 1,827 |  |  | 83
Construction and land development |  |  | 3,333 |  |  | 139 |  |  | 4,095 |  |  | 175 |  |  | 3,121 |  |  | 164
One-to-four family residential |  |  | 11,142 |  |  | 426 |  |  | 11,774 |  |  | 319 |  |  | 14,083 |  |  | 250
Municipal, consumer, and other |  |  | 13,706 |  |  | 401 |  |  | 14,158 |  |  | 500 |  |  | 599 |  |  | 10
Total |  | $ | 80,432 |  | $ | 3,270 |  | $ | 73,310 |  | $ | 2,861 |  | $ | 61,919 |  | $ | 1,819
The following tables present the recorded investment in loans by category based on current payment and accrual status as of December 31:
|  | Accruing Interest |  |  |  |  |  |
|  |  |  |  | 30 - 89 Days |  | 90+ Days |  |  |  |  | Total
December 31, 2020 |  | Current |  | Past Due |  | Past Due |  | Nonaccrual |  | Loans
|  | (dollars in thousands)
Commercial and industrial |  | $ | 392,490 |  | $ | — |  | $ | — |  | $ | 822 |  | $ | 393,312
Agricultural and farmland |  |  | 222,723 |  |  | — |  |  | — |  |  | — |  |  | 222,723
Commercial real estate - owner occupied |  |  | 221,308 |  |  | 112 |  |  | — |  |  | 940 |  |  | 222,360
Commercial real estate - non-owner occupied |  |  | 516,387 |  |  | — |  |  | — |  |  | 4,008 |  |  | 520,395
Multi-family |  |  | 236,391 |  |  | — |  |  | — |  |  | — |  |  | 236,391
Construction and land development |  |  | 225,508 |  |  | — |  |  | — |  |  | 144 |  |  | 225,652
One-to-four family residential |  |  | 301,282 |  |  | 984 |  |  | 595 |  |  | 3,914 |  |  | 306,775
Municipal, consumer, and other |  |  | 119,055 |  |  | 211 |  |  | 21 |  |  | 111 |  |  | 119,398
Total |  | $ | 2,235,144 |  | $ | 1,307 |  | $ | 616 |  | $ | 9,939 |  | $ | 2,247,006
|  | 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 December 31:
December 31, 2020 |  | Pass |  | Pass-Watch |  | Substandard |  | Doubtful |  | Total
|  | (dollars in thousands)
Commercial and industrial |  | $ | 368,843 |  | $ | 18,258 |  | $ | 6,211 |  | $ | — |  | $ | 393,312
Agricultural and farmland |  |  | 191,662 |  |  | 25,540 |  |  | 5,521 |  |  | — |  |  | 222,723
Commercial real estate - owner occupied |  |  | 176,823 |  |  | 31,990 |  |  | 13,547 |  |  | — |  |  | 222,360
Commercial real estate - non-owner occupied |  |  | 432,752 |  |  | 58,699 |  |  | 28,944 |  |  | — |  |  | 520,395
Multi-family |  |  | 204,449 |  |  | 31,066 |  |  | 876 |  |  | — |  |  | 236,391
Construction and land development |  |  | 193,646 |  |  | 28,193 |  |  | 3,813 |  |  | — |  |  | 225,652
One-to-four family residential |  |  | 280,198 |  |  | 14,526 |  |  | 12,051 |  |  | — |  |  | 306,775
Municipal, consumer, and other |  |  | 105,539 |  |  | 312 |  |  | 13,547 |  |  | — |  |  | 119,398
Total |  | $ | 1,953,912 |  | $ | 208,584 |  | $ | 84,510 |  | $ | — |  | $ | 2,247,006
December 31, 2019 |  | Pass |  | 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
The following tables present the financial effect of troubled debt restructurings for the years ended December 31:
|  |  |  |  |  |  |  |  |  | Charge-offs
|  |  |  | Recorded Investment |  | and Specific
Year Ended December 31, 2020 |  | Number |  | Pre-Modification |  | Post-Modification |  | Reserves
|  | (dollars in thousands)
Commercial real estate - owner occupied |  | 1 |  | $ | 853 |  | $ | 853 |  | $ | —
Total |  | 1 |  | $ | 853 |  | $ | 853 |  | $ | —
|  |  |  |  |  |  |  |  |  | Charge-offs
|  |  |  | Recorded Investment |  | and Specific
Year Ended December 31, 2019 |  | Number |  | Pre-Modification |  | Post-Modification |  | Reserves
|  | (dollars in thousands)
Commercial and industrial |  | 3 |  | $ | 516 |  | $ | 516 |  | $ | —
Agricultural and farmland |  | 2 |  |  | 392 |  |  | 392 |  |  | —
Commercial real estate - owner occupied |  | 1 |  |  | 170 |  |  | 170 |  |  | —
One-to-four family residential |  | 1 |  |  | 21 |  |  | 21 |  |  | —
Total |  | 7 |  | $ | 1,099 |  | $ | 1,099 |  | $ | —
|  |  |  |  |  |  |  |  |  | Charge-offs
|  |  |  | Recorded Investment |  | and Specific
Year Ended December 31, 2018 |  | Number |  | Pre-Modification |  | Post-Modification |  | Reserves
|  | (dollars in thousands)
Commercial and industrial |  | 2 |  | $ | 296 |  | $ | 296 |  | $ | 157
Agricultural and farmland |  | 1 |  |  | 171 |  |  | 171 |  |  | —
Commercial real estate - owner occupied |  | 2 |  |  | 5,173 |  |  | 5,189 |  |  | 47
One-to-four family residential |  | 4 |  |  | 1,230 |  |  | 1,255 |  |  | 480
Total |  | 9 |  | $ | 6,870 |  | $ | 6,911 |  | $ | 684
During the years ended December 31, 2020, 2019, and 2018, all troubled debt restructurings were the result of a payment concession. The following table presents the recorded investment of troubled debt restructurings which had subsequent payment defaults within 12 months following the modification as of December 31:
|  | December 31, |  | December 31, |  | December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (dollars in thousands)
Commercial and industrial |  | $ | — |  | $ | — |  | $ | 47
Agricultural and farmland |  |  | — |  |  | 98 |  |  | 166
Commercial real estate - owner occupied |  |  | — |  |  | — |  |  | 172
One-to-four family residential |  |  | — |  |  | — |  |  | 542
Total |  | $ | — |  | $ | 98 |  | $ | 927
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 December 31, 2020 and 2019, the Company had $8,950,000 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 years ended December 31:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (dollars in thousands)
Beginning balance |  | $ | 1,662 |  | $ | 2,101 |  | $ | 2,723
Reclassification from non-accretable difference |  |  | 288 |  |  | 822 |  |  | 2,092
Accretion income |  |  | (553) |  |  | (1,261) |  |  | (2,714)
Ending balance |  | $ | 1,397 |  | $ | 1,662 |  | $ | 2,101

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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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