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Loans (Tables)

3 Months Ended

Mar. 31, 2021

Receivables [Abstract]

Schedule of Loan Balances

Loan balances were as follows:

(In Thousands of Dollars)				March 31, 2021				December 31, 2020
Originated loans:
Commercial real estate
Owner occupied				$	210,435			$	215,187
Non-owner occupied					313,482				309,777
Farmland					156,568				156,277
Other					73,572				78,140
Commercial
Commercial and industrial					391,041				385,831
Agricultural					42,060				44,922
Residential real estate
1-4 family residential					319,155				324,723
Home equity lines of credit					91,027				92,968
Consumer
Indirect					157,935				164,620
Direct					21,322				23,348
Other					9,258				9,868
Total originated loans				$	1,785,855			$	1,805,661
Acquired loans:
Commercial real estate
Owner occupied				$	43,955			$	45,101
Non-owner occupied					48,534				52,863
Farmland					24,646				26,080
Other					12,578				12,868
Commercial
Commercial and industrial					15,023				18,662
Agricultural					3,799				4,850
Residential real estate
1-4 family residential					81,827				89,118
Home equity lines of credit					16,474				17,383
Consumer
Direct					4,662				5,128
Other					118				97
Total acquired loans				$	251,616			$	272,150
Net Deferred loan (fees) costs					(67	)			233
Allowance for credit losses					(24,935	)			(22,144	)
Net loans				$	2,012,469			$	2,055,900

Purchased Credit Impaired Loans

As part of past acquisitions, the Company acquired various loans that displayed evidence of deterioration of credit quality since origination and which it was probable that all contractually required payments would not be collected. The carrying amounts and contractually required payments of these purchase credit impaired loans under ASC 310, which are included in the loan balances above, are summarized in the following table:

(In Thousands of Dollars)				December 31, 2020
Commercial real estate
Non-owner occupied				$	574
Commercial
Commercial and industrial					604
Total outstanding balance				$	1,178
Carrying amount, net of allowance of $0 in 2020				$	917

Activity in the Allowance for Loan Losses by Portfolio Segment

Allowance for credit loss activity

The following tables present the activity in the allowance for credit losses by portfolio segment for the three month periods ended March 31, 2021 and 2020:

Three Months Ended March 31, 2021

(In Thousands of Dollars)		Commercial Real Estate				Commercial				Residential Real Estate				Consumer				Total
Allowance for credit losses
Beginning balance		$	10,824			$	5,073			$	3,643			$	2,604			$	22,144
Impact of CECL adoption			(2,076	)			429				237				3,860				2,450
Provision for credit losses			96				(25	)			89				265				425
Loans charged off			0				(34	)			(67	)			(183	)			(284	)
Recoveries			0				7				59				134				200
Total ending allowance balance		$	8,844			$	5,450			$	3,961			$	6,680			$	24,935

Three Months Ended March 31, 2020

(In Thousands of Dollars)		Commercial Real Estate				Commercial				Residential Real Estate				Consumer				Unallocated				Total
Allowance for credit losses
Beginning balance		$	5,843			$	2,323			$	2,875			$	2,710			$	736			$	14,487
Provision for loan losses			717				495				129				324				(565	)			1,100
Loans charged off			0				(198	)			(108	)			(443	)			0				(749	)
Recoveries			1				1				15				97				0				114
Total ending allowance balance		$	6,561			$	2,621			$	2,911			$	2,688			$	171			$	14,952

Allowance for Loan Losses under ASC 310 Method

The following table presents the allowance for loan losses under ASC 310.  The recorded investment in loans includes the unpaid principal balance and unamortized loan origination fees and costs, but excludes accrued interest receivable, which is not considered to be material:

December 31, 2020

(In Thousands of Dollars)		Commercial Real Estate				Commercial				Residential Real Estate				Consumer				Unallocated				Total
Allowance for credit losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment		$	0			$	357			$	79			$	0			$	0			$	436
Collectively evaluated for impairment			10,400				4,546				3,392				2,520				668				21,526
Acquired loans collectively evaluated for impairment			97				17				65				3				0				182
Acquired with deteriorated credit quality			0				0				0				0				0				0
Total ending allowance balance		$	10,497			$	4,920			$	3,536			$	2,523			$	668			$	22,144
Loans:
Loans individually evaluated for impairment		$	502			$	3,086			$	2,836			$	189			$	0			$	6,613
Loans collectively evaluated for impairment			758,050				424,379				414,568				203,447				0				1,800,444
Acquired loans			135,884				23,044				105,936				5,206				0				270,070
Acquired with deteriorated credit quality			514				403				0				0				0				917
Total ending loans balance		$	894,950			$	450,912			$	523,340			$	208,842			$	0			$	2,078,044

Loans Individually Evaluated for Impairment by Class of Loans

The following table presents information related to impaired loans by class of loans under ASC 310 as of December 31, 2020.

(In Thousands of Dollars)		Unpaid Principal Balance				Recorded Investment				Allowance for Loan Losses Allocated
December 31, 2020
With no related allowance recorded:
Commercial real estate
Non-owner occupied		$	37			$	31			$	0
Farmland			484				471				0
Commercial
Commercial and industrial			151				105				0
Agricultural			27				26				0
Residential real estate
1-4 family residential			2,660				1,872				0
Home equity lines of credit			435				334				0
Consumer			429				186				0
Subtotal			4,223				3,025				0
With an allowance recorded:
Commercial
Commercial and industrial			3,007				2,955				357
Residential real estate
1-4 family residential			626				627				75
Home equity lines of credit			22				3				4
Consumer			2				3				0
Subtotal			3,657				3,588				436
Total		$	7,880			$	6,613			$	436

The following table presents the average recorded investment in impaired loans by class and interest income recognized by loan, under ASC 310, for the three month period ended March 31, 2020:

				Average Recorded Investment				Interest Income Recognized
(In Thousands of Dollars)				For Three Months Ended March 31, 2020
With no related allowance recorded:
Commercial real estate
Non-owner occupied				$	34			$	0
Farmland					517				1
Commercial
Commercial and industrial					132				2
Agricultural					17				1
Residential real estate
1-4 family residential					2,139				38
Home equity lines of credit					368				6
Consumer					244				7
Subtotal					3,451				55
With an allowance recorded:
Commercial real estate
Farmland					0				0
Commercial
Commercial and industrial					52				1
Residential real estate
1-4 family residential					701				8
Home equity lines of credit					99				0
Consumer					0				0
Subtotal					852				9
Total				$	4,303			$	64

Schedule of Investment in Nonaccrual and Loans Past Due 90 Days or More Still on Accrual by Class of Loans

The following table presents the recorded investment in nonaccrual and loans past due 90 days or more still on accrual by class of loans as of March 31, 2021 and December 31, 2020:

		March 31, 2021								December 31, 2020
(In Thousands of Dollars)		Nonaccrual				Loans Past Due 90 Days or More Still Accruing				Nonaccrual				Loans Past Due 90 Days or More Still Accruing
Originated loans:
Commercial real estate
Owner occupied		$	323			$	0			$	0			$	335
Farmland			0				0				0				0
Commercial
Commercial and industrial			2,485				11				3,312				22
Agricultural			215				0				205				0
Residential real estate
1-4 family residential			843				73				866				223
Home equity lines of credit			582				8				603				0
Consumer
Indirect			457				97				648				64
Direct			125				107				157				111
Other			0				3				1				5
Total originated loans		$	5,030			$	299			$	5,792			$	760
Acquired loans:
Commercial real estate
Owner occupied		$	22			$	0			$	27			$	0
Non-owner occupied			345				0				362				0
Farmland			284				0				471				95
Other			0				0				0				0
Commercial
Commercial and industrial			435				0				477				0
Agricultural			3				0				4				0
Residential real estate
1-4 family residential			4,213				786				4,128				1,469
Home equity lines of credit			179				0				186				0
Consumer
Direct			39				5				58				6
Total acquired loans		$	5,520			$	791			$	5,713			$	1,570
Total loans		$	10,550			$	1,090			$	11,505			$	2,330

Schedule of Investment in Past Due Loans

The following tables present the aging of the recorded investment in past due loans as of March 31, 2021 and December 31, 2020 by class of loans.  Note that loans modified to defer payments under the CARES Act are included in loans not past due.

(In Thousands of Dollars)		30-59 Days Past Due				60-89 Days Past Due				90 Days or More Past Due and Nonaccrual				Total Past Due				Loans Not Past Due				Total
March 31, 2021
Originated loans:
Commercial real estate
Owner occupied		$	68			$	45			$	323			$	436			$	209,622			$	210,058
Non-owner occupied			0				0				0				0				312,942				312,942
Farmland			124				0				0				124				156,197				156,321
Other			0				0				0				0				73,390				73,390
Commercial
Commercial and industrial			104				31				2,496				2,631				384,807				387,438
Agricultural			46				0				215				261				41,949				42,210
Residential real estate
1-4 family residential			1,258				102				916				2,276				316,014				318,290
Home equity lines of credit			198				38				590				826				90,211				91,037
Consumer
Indirect			508				220				554				1,282				162,145				163,427
Direct			357				43				232				632				20,796				21,428
Other			29				8				3				40				9,219				9,259
Total originated loans:		$	2,692			$	487			$	5,329			$	8,508			$	1,777,292			$	1,785,800
Acquired loans:
Commercial real estate
Owner occupied		$	308			$	0			$	22			$	330			$	43,622			$	43,952
Non-owner occupied			0				0				345				345				48,180				48,525
Farmland			0				0				284				284				24,362				24,646
Other			0				0				0				0				12,578				12,578
Commercial
Commercial and industrial			388				0				435				823				14,200				15,023
Agricultural			0				36				3				39				3,759				3,798
Residential real estate
1-4 family residential			2,950				56				4,999				8,005				73,822				81,827
Home equity lines of credit			45				45				179				269				16,205				16,474
Consumer
Direct			146				30				44				220				4,443				4,663
Other			0				0				0				0				118				118
Total acquired loans		$	3,837			$	167			$	6,311			$	10,315			$	241,289			$	251,604
Total loans		$	6,529			$	654			$	11,640			$	18,823			$	2,018,581			$	2,037,404

(In Thousands of Dollars)		30-59 Days Past Due				60-89 Days Past Due				90 Days or More Past Due and Nonaccrual				Total Past Due				Loans Not Past Due				Total
December 31, 2020
Originated loans:
Commercial real estate
Owner occupied		$	0			$	0			$	335			$	335			$	214,460			$	214,795
Non-owner occupied			0				0				0				0				309,216				309,216
Farmland			0				0				0				0				156,053				156,053
Other			261				0				0				261				77,725				77,986
Commercial
Commercial and industrial			356				61				3,334				3,751				378,594				382,345
Agricultural			45				255				205				505				44,555				45,060
Residential real estate
1-4 family residential			1,668				974				1,089				3,731				320,129				323,860
Home equity lines of credit			419				0				603				1,022				91,957				92,979
Consumer
Indirect			1,046				285				712				2,043				168,245				170,288
Direct			284				120				268				672				22,789				23,461
Other			24				22				6				52				9,816				9,868
Total originated loans		$	4,103			$	1,717			$	6,552			$	12,372			$	1,793,539			$	1,805,911
Acquired loans:
Commercial real estate
Owner occupied		$	0			$	0			$	27			$	27			$	45,072			$	45,099
Non-owner occupied			197				0				362				559				52,295				52,854
Farmland			0				0				566				566				25,513				26,079
Other			0				0				0				0				12,868				12,868
Commercial
Commercial and industrial			19				390				477				886				17,772				18,658
Agricultural			4				0				4				8				4,841				4,849
Residential real estate
1-4 family residential			1,954				821				5,597				8,372				80,745				89,117
Home equity lines of credit			23				0				186				209				17,175				17,384
Consumer
Direct			20				49				64				133				4,995				5,128
Other			0				0				0				0				97				97
Total acquired loans		$	2,217			$	1,260			$	7,283			$	10,760			$	261,373			$	272,133
Total loans		$	6,320			$	2,977			$	13,835			$	23,132			$	2,054,912			$	2,078,044

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