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Note 4 - Loans

9 Months Ended

Sep. 30, 2022

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 4. Loans

The Company groups loans held for investment into three segments (commercial loans, consumer real estate loans, and consumer and other loans) with each segment divided into various classes. Customer overdrafts reclassified as loans totaled $1.29 million as of September 30, 2022, and $1.65 million as of December 31, 2021. Deferred loan fees, net of loan costs, totaled $4.11 million as of September 30, 2022, and $5.06 million as of December 31, 2021. For information about off-balance sheet financing, see Note 15, “Litigation, Commitments, and Contingencies,” to the Condensed Consolidated Financial Statements of this report.

In accordance with the adoption of ASU 2016-13, the table below reflects the loan portfolio at the amortized cost basis to include net deferred loan fees of $4.11 million and $5.06 million and unamortized discount related to loans acquired of $4.11 million and $5.41 million million for September 30, 2022, and December 31, 2021, respectively. Accrued interest receivable (AIR) of $7.28 million as of September 30, 2022, and $7.54 million as of December 31, 2021, is accounted for separately and reported in Interest Receivable on the Consolidated Balance Sheet.

	*September 30, 2022*					*December 31, 2021*
(Amounts in thousands)	*Amount*		*Percent*			*Amount*		*Percent*
Loans held for investment
Commercial loans
Construction, development, and other land	$	109,104		4.62	%	$	65,806		3.04	%
Commercial and industrial		148,024		6.26	%		133,630		6.17	%
Multi-family residential		135,489		5.73	%		100,402		4.64	%
Single family non-owner occupied		196,133		8.30	%		198,778		9.18	%
Non-farm, non-residential		777,350		32.90	%		707,506		32.67	%
Agricultural		10,537		0.45	%		9,341		0.43	%
Farmland		12,127		0.51	%		15,013		0.69	%
Total commercial loans		1,388,764		58.77	%		1,230,476		56.82	%
Consumer real estate loans
Home equity lines		77,424		3.28	%		79,857		3.69	%
Single family owner occupied		726,780		30.76	%		703,864		32.50	%
Owner occupied construction		14,602		0.62	%		16,910		0.78	%
Total consumer real estate loans		818,806		34.66	%		800,631		36.97	%
Consumer and other loans
Consumer loans		151,022		6.39	%		129,794		5.99	%
Other		4,141		0.18	%		4,668		0.22	%
Total consumer and other loans		155,163		6.57	%		134,462		6.21	%
Total loans held for investment, net of unearned income	$	2,362,733		100.00	%	$	2,165,569		100.00	%

The Company began participating as a Small Business Administration Paycheck Protection Program lender during the second quarter of 2020. At September 30, 2022, there was no remaining balance of PPP loans, compared to $20.64 million at December 31, 2021, which were included in commercial and industrial loan balances. There were no remaining net deferred loan origination fees related to the PPP loans, net of deferred loan origination costs, at September 30, 2022. At December 31, 2021, the amount of net deferred loan origination fees related to PPP loans was $733 thousand. During the third quarter of 2022, the Company recorded amortization of net deferred loan origination fees of $80 thousand on PPP loans and recorded $734 thousand in amortization for the nine month period of 2022 . The Company recorded amortization of net deferred loan origination fees on PPP loans of $708 thousand and $2.24 million in amortization for the same periods, respectively, for 2021.