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v3.20.1

LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 3 Months Ended
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Mar. 31, 2020
Receivables [Abstract] |
Summary of Loan Portfolio by Type of Loan | The following table summarizes the Company’s loan portfolio by type of loan as of:
|  | March 31, 2020 |  |  | December 31, 2019 |
Commercial and industrial |  | $ | 297,163 |  |  | $ | 279,583 |
Real estate: |  |  |  |  |  |  |  |
Construction and development |  |  | 263,973 |  |  |  | 280,498 |
Commercial real estate |  |  | 584,883 |  |  |  | 567,360 |
Farmland |  |  | 78,635 |  |  |  | 57,476 |
1-4 family residential |  |  | 400,605 |  |  |  | 412,166 |
Multi-family residential |  |  | 20,430 |  |  |  | 37,379 |
Consumer |  |  | 52,996 |  |  |  | 53,245 |
Agricultural |  |  | 19,314 |  |  |  | 18,359 |
Overdrafts |  |  | 354 |  |  |  | 329 |
Total loans(1) |  |  | 1,718,353 |  |  |  | 1,706,395 |
Net of: |  |  |  |  |  |  |  |
Deferred loan costs, net |  |  | 456 |  |  |  | 601 |
Allowance for credit losses |  |  | (21,948 | ) |  |  | (16,202 | )
Total net loans(1) |  | $ | 1,696,861 |  |  | $ | 1,690,794 |
(1) Excludes accrued interest receivable on loans of $6.8 million as of March 31, 2020 and December 31, 2019, which is presented on the consolidated balance sheets. |
Schedule of Allowance for Loan Losses Activity | The Company’s estimate of the allowance for credit losses (“ACL”) reflects losses expected over the remaining contractual life of the assets. The contractual term does not consider extensions, renewals or modifications unless the Company has identified an expected troubled debt restructuring. The following tables present the activity in the ACL by class of loans for the three months ended March 31, 2020, and the activity in the allowance for loan loss by portfolio segment for the year ended December 31, 2019 and for the three months ended March 31, 2019:
For the Three Months Ended March 31, 2020 |  | Commercial and industrial |  |  | Construction and development |  |  | Commercial real estate |  |  | Farmland |  |  | 1-4 family residential |  |  | Multi-family residential |  |  | Consumer |  |  | Agricultural |  |  | Overdrafts |  |  | Unallocated COVID-19 reserve |  |  | Total |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance, prior to adoption of ASC 326 |  | $ | 2,056 |  |  | $ | 2,378 |  |  | $ | 6,853 |  |  | $ | 570 |  |  | $ | 3,125 |  |  | $ | 409 |  |  | $ | 602 |  |  | $ | 197 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 16,202 |
Impact of adopting ASC 326 |  |  | 546 |  |  |  | 323 |  |  |  | 2,228 |  |  |  | 26 |  |  |  | 1,339 |  |  |  | (50 | ) |  |  | 72 |  |  |  | 73 |  |  |  | (9 | ) |  |  | — |  |  |  | 4,548 |
Provision for credit losses |  |  | 365 |  |  |  | (229 | ) |  |  | 447 |  |  |  | 193 |  |  |  | (250 | ) |  |  | (170 | ) |  |  | 85 |  |  |  | 11 |  |  |  | 35 |  |  |  | — |  |  |  | 487 |
Provision for credit losses - COVID-19 |  |  | — |  |  |  | 106 |  |  |  | 233 |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 571 |  |  |  | 913 |
Loans charged-off |  |  | (43 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (59 | ) |  |  | — |  |  |  | (73 | ) |  |  | — |  |  |  | (49 | ) |  |  | — |  |  |  | (224 | )
Recoveries |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 7 |  |  |  | — |  |  |  | 14 |  |  |  | — |  |  |  | 22 |
Ending balance |  | $ | 2,924 |  |  | $ | 2,578 |  |  | $ | 9,761 |  |  | $ | 792 |  |  | $ | 4,156 |  |  | $ | 189 |  |  | $ | 693 |  |  | $ | 281 |  |  | $ | 3 |  |  | $ | 571 |  |  | $ | 21,948 |
For the Year Ended December 31, 2019 |  | Commercial and industrial |  |  | Construction and development |  |  | Commercial real estate |  |  | Farmland |  |  | 1-4 family residential |  |  | Multi-family residential |  |  | Consumer |  |  | Agricultural |  |  | Overdrafts |  |  | Total |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 1,751 |  |  | $ | 1,920 |  |  | $ | 6,025 |  |  | $ | 643 |  |  | $ | 2,868 |  |  | $ | 631 |  |  | $ | 565 |  |  | $ | 238 |  |  | $ | 10 |  |  | $ | 14,651 |  |
Provision for loan losses |  |  | (117 | ) |  |  | 458 |  |  |  | 827 |  |  |  | (73 | ) |  |  | 268 |  |  |  | (222 | ) |  |  | (2 | ) |  |  | (41 | ) |  |  | 152 |  |  |  | 1,250 |  |
Loans charged-off |  |  | (86 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (14 | ) |  |  | — |  |  |  | (72 | ) |  |  | (89 | ) |  |  | (192 | ) |  |  | (453 | ) |
Recoveries |  |  | 508 |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | 111 |  |  |  | 89 |  |  |  | 42 |  |  |  | 754 |  |
Ending balance |  | $ | 2,056 |  |  | $ | 2,378 |  |  | $ | 6,853 |  |  | $ | 570 |  |  | $ | 3,125 |  |  | $ | 409 |  |  | $ | 602 |  |  | $ | 197 |  |  | $ | 12 |  |  | $ | 16,202 |  |
For the Three Months Ended March 31, 2019 |  | Commercial and industrial |  |  | Construction and development |  |  | Commercial real estate |  |  | Farmland |  |  | 1-4 family residential |  |  | Multi-family residential |  |  | Consumer |  |  | Agricultural |  |  | Overdrafts |  |  | Total |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 1,751 |  |  | $ | 1,920 |  |  | $ | 6,025 |  |  | $ | 643 |  |  | $ | 2,868 |  |  | $ | 631 |  |  | $ | 565 |  |  | $ | 238 |  |  | $ | 10 |  |  | $ | 14,651 |  |
Provision for loan losses |  |  | 213 |  |  |  | 81 |  |  |  | 269 |  |  |  | 16 |  |  |  | 7 |  |  |  | (56 | ) |  |  | 46 |  |  |  | (35 | ) |  |  | 34 |  |  |  | 575 |  |
Loans charged-off |  |  | (6 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6 | ) |  |  | — |  |  |  | (17 | ) |  |  | — |  |  |  | (49 | ) |  |  | (78 | ) |
Recoveries |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 23 |  |  |  | — |  |  |  | 13 |  |  |  | 42 |  |
Ending balance |  | $ | 1,963 |  |  | $ | 2,001 |  |  | $ | 6,294 |  |  | $ | 659 |  |  | $ | 2,870 |  |  | $ | 575 |  |  | $ | 617 |  |  | $ | 203 |  |  | $ | 8 |  |  | $ | 15,190 |  |
Summary of Credit Exposure by Internally Assigned Grade | The following table summarizes the credit exposure in the Company’s loan portfolio, by year of origination, as of March 31, 2020:
March 31, 2020 |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2016 |  |  | Prior |  |  | Revolving Loans Amortized Cost |  |  | Total |
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 89,353 |  |  | $ | 44,914 |  |  | $ | 22,360 |  |  | $ | 9,359 |  |  | $ | 9,586 |  |  | $ | 19,274 |  |  | $ | 101,608 |  |  | $ | 296,454 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | 218 |  |  |  | 21 |  |  |  | 58 |  |  |  | — |  |  |  | — |  |  |  | 297 |
Nonaccrual |  |  | — |  |  |  | — |  |  |  | 28 |  |  |  | — |  |  |  | 43 |  |  |  | 191 |  |  |  | 150 |  |  |  | 412 |
Total commercial and industrial loans |  | $ | 89,353 |  |  | $ | 44,914 |  |  | $ | 22,606 |  |  | $ | 9,380 |  |  | $ | 9,687 |  |  | $ | 19,465 |  |  | $ | 101,758 |  |  | $ | 297,163 |
Charge-offs |  | $ | — |  |  | $ | — |  |  | $ | (43 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (43 | )
Recoveries |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Current period net |  | $ | — |  |  | $ | — |  |  | $ | (43 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (43 | )
Construction and development: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 29,946 |  |  | $ | 119,807 |  |  | $ | 55,942 |  |  | $ | 28,704 |  |  | $ | 10,867 |  |  | $ | 11,023 |  |  | $ | 5,886 |  |  | $ | 262,175 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | 600 |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 606 |
Nonaccrual |  |  | — |  |  |  | 1,192 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,192 |
Total construction and development loans |  | $ | 29,946 |  |  | $ | 121,599 |  |  | $ | 55,948 |  |  | $ | 28,704 |  |  | $ | 10,867 |  |  | $ | 11,023 |  |  | $ | 5,886 |  |  | $ | 263,973 |
Charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Recoveries |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Current period net |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 17,610 |  |  | $ | 106,440 |  |  | $ | 101,206 |  |  | $ | 86,620 |  |  | $ | 101,885 |  |  | $ | 137,737 |  |  | $ | 11,921 |  |  | $ | 563,419 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 70 |  |  |  | — |  |  |  | 70 |
Substandard |  |  | — |  |  |  | — |  |  |  | 1,183 |  |  |  | 617 |  |  |  | — |  |  |  | 9,358 |  |  |  | — |  |  |  | 11,158 |
Nonaccrual |  |  | — |  |  |  | — |  |  |  | 158 |  |  |  | 3,947 |  |  |  | 5,087 |  |  |  | 1,044 |  |  |  | — |  |  |  | 10,236 |
Total commercial real estate loans |  | $ | 17,610 |  |  | $ | 106,440 |  |  | $ | 102,547 |  |  | $ | 91,184 |  |  | $ | 106,972 |  |  | $ | 148,209 |  |  | $ | 11,921 |  |  | $ | 584,883 |
Charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Recoveries |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Current period net |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Farmland: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 5,423 |  |  | $ | 14,614 |  |  | $ | 14,202 |  |  | $ | 8,507 |  |  | $ | 11,353 |  |  | $ | 18,649 |  |  | $ | 5,573 |  |  | $ | 78,321 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 41 |  |  |  | — |  |  |  | 41 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 97 |  |  |  | — |  |  |  | 97 |
Nonaccrual |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 176 |  |  |  | — |  |  |  | 176 |
Total farmland loans |  | $ | 5,423 |  |  | $ | 14,614 |  |  | $ | 14,202 |  |  | $ | 8,507 |  |  | $ | 11,353 |  |  | $ | 18,963 |  |  | $ | 5,573 |  |  | $ | 78,635 |
Charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Recoveries |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Current period net |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
March 31, 2020 |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2016 |  |  | Prior |  |  | Revolving Loans Amortized Cost |  |  | Total |
1-4 family residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 12,890 |  |  | $ | 81,727 |  |  | $ | 65,493 |  |  | $ | 46,797 |  |  | $ | 53,530 |  |  | $ | 125,807 |  |  | $ | 10,237 |  |  | $ | 396,481 |
Special mention |  |  | — |  |  |  | — |  |  |  | 55 |  |  |  | 113 |  |  |  | — |  |  |  | 70 |  |  |  | — |  |  |  | 238 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Nonaccrual |  |  | — |  |  |  | — |  |  |  | 383 |  |  |  | 446 |  |  |  | 1,031 |  |  |  | 2,026 |  |  |  | — |  |  |  | 3,886 |
Total 1-4 family residential loans |  | $ | 12,890 |  |  | $ | 81,727 |  |  | $ | 65,931 |  |  | $ | 47,356 |  |  | $ | 54,561 |  |  | $ | 127,903 |  |  | $ | 10,237 |  |  | $ | 400,605 |
Charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (59 | ) |  | $ | — |  |  | $ | (59 | )
Recoveries |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Current period net |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (58 | ) |  | $ | — |  |  | $ | (58 | )
Multi-family residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,304 |  |  | $ | 4,837 |  |  | $ | 3,746 |  |  | $ | 1,515 |  |  | $ | 1,801 |  |  | $ | 6,665 |  |  | $ | 562 |  |  | $ | 20,430 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Nonaccrual |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total multi-family residential loans |  | $ | 1,304 |  |  | $ | 4,837 |  |  | $ | 3,746 |  |  | $ | 1,515 |  |  | $ | 1,801 |  |  | $ | 6,665 |  |  | $ | 562 |  |  | $ | 20,430 |
Charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Recoveries |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Current period net |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Consumer and overdrafts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 8,344 |  |  | $ | 20,857 |  |  | $ | 14,693 |  |  | $ | 3,694 |  |  | $ | 1,442 |  |  | $ | 843 |  |  | $ | 3,171 |  |  | $ | 53,044 |
Special mention |  |  | — |  |  |  | 39 |  |  |  | 35 |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 77 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Nonaccrual |  |  | — |  |  |  | 50 |  |  |  | 150 |  |  |  | 23 |  |  |  | 3 |  |  |  | 3 |  |  |  | — |  |  |  | 229 |
Total consumer loans and overdrafts |  | $ | 8,344 |  |  | $ | 20,946 |  |  | $ | 14,878 |  |  | $ | 3,720 |  |  | $ | 1,445 |  |  | $ | 846 |  |  | $ | 3,171 |  |  | $ | 53,350 |
Charge-offs |  | $ | (49 | ) |  | $ | (17 | ) |  | $ | (18 | ) |  | $ | (38 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (122 | )
Recoveries |  |  | 14 |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | 1 |  |  |  | 2 |  |  |  | — |  |  |  | 21 |
Current period net |  | $ | (35 | ) |  | $ | (17 | ) |  | $ | (18 | ) |  | $ | (34 | ) |  | $ | 1 |  |  | $ | 2 |  |  | $ | — |  |  | $ | (101 | )
Agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,532 |  |  | $ | 2,919 |  |  | $ | 3,357 |  |  | $ | 1,146 |  |  | $ | 432 |  |  | $ | 391 |  |  | $ | 9,276 |  |  | $ | 19,053 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 70 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 70 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 85 |  |  |  | 5 |  |  |  | — |  |  |  | 90 |
Nonaccrual |  |  | — |  |  |  | — |  |  |  | 69 |  |  |  | — |  |  |  | 32 |  |  |  | — |  |  |  | — |  |  |  | 101 |
Total agricultural loans |  | $ | 1,532 |  |  | $ | 2,919 |  |  | $ | 3,426 |  |  | $ | 1,216 |  |  | $ | 549 |  |  | $ | 396 |  |  | $ | 9,276 |  |  | $ | 19,314 |
Charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Recoveries |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Current period net |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total loans |  | $ | 166,402 |  |  | $ | 397,996 |  |  | $ | 283,284 |  |  | $ | 191,582 |  |  | $ | 197,235 |  |  | $ | 333,470 |  |  | $ | 148,384 |  |  | $ | 1,718,353 |
Charge-offs |  | $ | (49 | ) |  | $ | (17 | ) |  | $ | (61 | ) |  | $ | (38 | ) |  | $ | — |  |  | $ | (59 | ) |  | $ | — |  |  | $ | (224 | )
Recoveries |  |  | 14 |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | 1 |  |  |  | 3 |  |  |  | — |  |  |  | 22 |
Total current period net charge-offs |  | $ | (35 | ) |  | $ | (17 | ) |  | $ | (61 | ) |  | $ | (34 | ) |  | $ | 1 |  |  | $ | (56 | ) |  | $ | — |  |  | $ | (202 | )
The following table summarizes the credit exposure in the Company’s loan portfolio by class as of December 31, 2019:
December 31, 2019 |  | Commercial and industrial |  |  | Construction and development |  |  | Commercial real estate |  |  | Farmland |  |  | 1-4 family residential |  |  | Multi-family residential |  |  | Consumer and Overdrafts |  |  | Agricultural |  |  | Total |
Grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 279,217 |  |  | $ | 278,679 |  |  | $ | 548,662 |  |  | $ | 57,152 |  |  | $ | 409,896 |  |  | $ | 37,379 |  |  | $ | 53,327 |  |  | $ | 18,101 |  |  | $ | 1,682,413 |
Special mention |  |  | 153 |  |  |  | 600 |  |  |  | 1,071 |  |  |  | 91 |  |  |  | 1,425 |  |  |  | — |  |  |  | 192 |  |  |  | 126 |  |  |  | 3,658 |
Substandard |  |  | 213 |  |  |  | 1,219 |  |  |  | 17,627 |  |  |  | 233 |  |  |  | 845 |  |  |  | — |  |  |  | 55 |  |  |  | 132 |  |  |  | 20,324 |
Total |  | $ | 279,583 |  |  | $ | 280,498 |  |  | $ | 567,360 |  |  | $ | 57,476 |  |  | $ | 412,166 |  |  | $ | 37,379 |  |  | $ | 53,574 |  |  | $ | 18,359 |  |  | $ | 1,706,395 |
Schedule of Amortized Cost Basis of Collateral Dependent Loans | The following table presents the amortized cost basis of individually evaluated collateral-dependent loans by class of loans, and their impact on ACL, as of March 31, 2020:
|  | Real Estate |  |  | Non-RE |  |  | Total |  |  | Allowance for Credit Losses Allocation |
Commercial and industrial |  | $ | 134 |  |  | $ | — |  |  | $ | 134 |  |  | $ | 16 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and development |  |  | 600 |  |  |  | — |  |  |  | 600 |  |  |  | 69 |
Commercial real estate |  |  | 9,692 |  |  |  | — |  |  |  | 9,692 |  |  |  | 1,415 |
Farmland |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
1-4 family residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Multi-family residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer |  |  | — |  |  |  | 174 |  |  |  | 174 |  |  |  | — |
Agricultural |  |  | — |  |  |  | 191 |  |  |  | 191 |  |  |  | — |
Overdrafts |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 10,426 |  |  | $ | 365 |  |  | $ | 10,791 |  |  | $ | 1,500 |
Summary of Payment Status of Loans | The following tables summarize the payment status of loans in the Company’s total loan portfolio, including an aging of delinquent loans and loans 90 days or more past due continuing to accrue interest as of:
March 31, 2020 |  | 30 to 59 Days Past Due |  |  | 60 to 89 Days Past Due |  |  | 90 Days and Greater Past Due |  |  | Total Past Due |  |  | Current |  |  | Total Loans |  |  | Recorded Investment > 90 Days and Accruing |
Commercial and industrial |  | $ | 73 |  |  | $ | 49 |  |  | $ | 356 |  |  | $ | 478 |  |  | $ | 296,685 |  |  | $ | 297,163 |  |  | $ | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and development |  |  | 1,369 |  |  |  | — |  |  |  | — |  |  |  | 1,369 |  |  |  | 262,604 |  |  |  | 263,973 |  |  |  | — |
Commercial real estate |  |  | 8,285 |  |  |  | 340 |  |  |  | 9,139 |  |  |  | 17,764 |  |  |  | 567,119 |  |  |  | 584,883 |  |  |  | 150 |
Farmland |  |  | 263 |  |  |  | 238 |  |  |  | 49 |  |  |  | 550 |  |  |  | 78,085 |  |  |  | 78,635 |  |  |  | — |
1-4 family residential |  |  | 2,823 |  |  |  | 712 |  |  |  | 471 |  |  |  | 4,006 |  |  |  | 396,599 |  |  |  | 400,605 |  |  |  | — |
Multi-family residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 20,430 |  |  |  | 20,430 |  |  |  | — |
Consumer |  |  | 566 |  |  |  | 103 |  |  |  | 72 |  |  |  | 741 |  |  |  | 52,255 |  |  |  | 52,996 |  |  |  | — |
Agricultural |  |  | 10 |  |  |  | 7 |  |  |  | 29 |  |  |  | 46 |  |  |  | 19,268 |  |  |  | 19,314 |  |  |  | — |
Overdrafts |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 354 |  |  |  | 354 |  |  |  | — |
Total |  | $ | 13,389 |  |  | $ | 1,449 |  |  | $ | 10,116 |  |  | $ | 24,954 |  |  | $ | 1,693,399 |  |  | $ | 1,718,353 |  |  | $ | 150 |
December 31, 2019 |  | 30 to 59 Days Past Due |  |  | 60 to 89 Days Past Due |  |  | 90 Days and Greater Past Due |  |  | Total Past Due |  |  | Current |  |  | Total Loans |  |  | Recorded Investment > 90 Days and Accruing |
Commercial and industrial |  | $ | 321 |  |  | $ | 53 |  |  | $ | 15 |  |  | $ | 389 |  |  | $ | 279,194 |  |  | $ | 279,583 |  |  | $ | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and development |  |  | 161 |  |  |  | — |  |  |  | — |  |  |  | 161 |  |  |  | 280,337 |  |  |  | 280,498 |  |  |  | — |
Commercial real estate |  |  | 1,181 |  |  |  | 49 |  |  |  | 882 |  |  |  | 2,112 |  |  |  | 565,248 |  |  |  | 567,360 |  |  |  | — |
Farmland |  |  | 103 |  |  |  | — |  |  |  | — |  |  |  | 103 |  |  |  | 57,373 |  |  |  | 57,476 |  |  |  | — |
1-4 family residential |  |  | 2,514 |  |  |  | 1,433 |  |  |  | 845 |  |  |  | 4,792 |  |  |  | 407,374 |  |  |  | 412,166 |  |  |  | — |
Multi-family residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 37,379 |  |  |  | 37,379 |  |  |  | — |
Consumer |  |  | 373 |  |  |  | 152 |  |  |  | 96 |  |  |  | 621 |  |  |  | 52,624 |  |  |  | 53,245 |  |  |  | — |
Agricultural |  |  | 51 |  |  |  | 67 |  |  |  | — |  |  |  | 118 |  |  |  | 18,241 |  |  |  | 18,359 |  |  |  | — |
Overdrafts |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 329 |  |  |  | 329 |  |  |  | — |
Total |  | $ | 4,704 |  |  | $ | 1,754 |  |  | $ | 1,838 |  |  | $ | 8,296 |  |  | $ | 1,698,099 |  |  | $ | 1,706,395 |  |  | $ | — |
Summary of Troubled Debt Restructuring | The outstanding balances of TDRs are shown below:
|  | March 31, 2020 |  |  | December 31, 2019 |
Nonaccrual TDRs |  | $ | 97 |  |  | $ | 101 |
Performing TDRs |  |  | 7,220 |  |  |  | 7,240 |
Total |  | $ | 7,317 |  |  | $ | 7,341 |
Specific reserves on TDRs |  | $ | — |  |  | $ | 164 |
There were no loans modified as TDRs that occurred during the three months ended March 31, 2020 and 2019. The following table presents loans by class, modified as TDRs that occurred during the year ended December 31, 2019:
Year Ended December 31, 2019 |  | Number of Contracts |  |  | Pre-Modification Outstanding Recorded Investment |  |  | Post-Modification Outstanding Recorded Investment |
Troubled Debt Restructurings: |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  | 4 |  |  | $ | 1,680 |  |  | $ | 1,515 |
Total |  |  | 4 |  |  | $ | 1,680 |  |  | $ | 1,515 |
Summary of Loans Individually and Collectively Evaluated for Impairment and Respective Allowance for Loan Losses | The following table presents loans individually and collectively evaluated for impairment, and the respective allowance for loan losses as of December 31, 2019, as determined in accordance with ASC 310 prior to the adoption of ASC 326. A loan was considered impaired when, based on current information and events, it was probable that the Company would be unable to collect all amounts due from the borrower in accordance with original contractual terms of the loan. Loans with insignificant delays or insignificant short falls in the amount payments expected to be collected were not considered to be impaired. Loans defined as individually impaired included larger balance non-performing loans and TDRs.
December 31, 2019 |  | Unpaid Principal Balance |  |  | Recorded Investment |  |  | Related Allowance |  |  | Average Recorded Investment |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 289 |  |  | $ | 289 |  |  | $ | — |  |  | $ | 312 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and development |  |  | 1,212 |  |  |  | 1,212 |  |  |  | — |  |  |  | 1,259 |
Commercial real estate |  |  | 4,612 |  |  |  | 4,612 |  |  |  | — |  |  |  | 4,244 |
Farmland |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
1-4 family residential |  |  | 2,498 |  |  |  | 2,498 |  |  |  | — |  |  |  | 1,798 |
Multi-family residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Agricultural |  |  | 62 |  |  |  | 62 |  |  |  | — |  |  |  | 190 |
Subtotal |  |  | 8,673 |  |  |  | 8,673 |  |  |  | — |  |  |  | 7,803 |
With allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 61 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction and development |  |  | — |  |  |  | — |  |  |  | — |  |  |  | - |
Commercial real estate |  |  | 12,871 |  |  |  | 12,871 |  |  |  | 1,587 |  |  |  | 9,111 |
Farmland |  |  | 133 |  |  |  | 133 |  |  |  | 62 |  |  |  | 135 |
1-4 family residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 78 |
Multi-family residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Agricultural |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  |  | 13,004 |  |  |  | 13,004 |  |  |  | 1,649 |  |  |  | 9,385 |
Total |  | $ | 21,677 |  |  | $ | 21,677 |  |  | $ | 1,649 |  |  | $ | 17,188 |

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