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Loans and Allowance for Loan Losses | 12 Months Ended
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Dec. 31, 2016
Receivables [Abstract] |
Loans and Allowance for Loan Losses | Note 3 – Loans and Allowance for Loan Losses The Bank’s loan portfolio as of December 31 was as follows: (Dollars in thousands)
|  | 2016 |  |  | 2015 |
Agricultural |  | $ | 44,614 |  |  | $ | 40,232 |
Commercial and industrial |  |  | 96,088 |  |  |  | 94,347 |
Consumer |  |  | 21,596 |  |  |  | 20,090 |
Real estate - commercial |  |  | 110,762 |  |  |  | 97,736 |
Real estate - construction |  |  | 6,153 |  |  |  | 5,390 |
Real estate - residential |  |  | 89,787 |  |  |  | 91,509 |
Loans, gross |  |  | 369,000 |  |  |  | 349,304 |
Allowance for loan losses |  |  | (4,277 | ) |  |  | (4,194 | )
Loans, net |  | $ | 364,723 |  |  | $ | 345,110 |
ChoiceOne manages its credit risk through the use of its loan policy and its loan approval process and by monitoring of loan credit performance. The loan approval process for commercial loans involves individual and group approval authorities. Individual authority levels are based on the experience of the lender. Group authority approval levels can consist of an internal loan committee that includes the Bank’s President or Senior Lender and other loan officers for loans that exceed individual approval levels, or a loan committee of the Board of Directors for larger commercial loans. Most consumer loans are approved by individual loan officers based on standardized underwriting criteria, with larger consumer loans subject to approval by the internal loan committee. Ongoing credit review of commercial loans is the responsibility of the loan officers. ChoiceOne’s internal credit committee meets at least monthly and reviews loans with payment issues and loans with a risk rating of 5, 6, or 7. Risk ratings of commercial loans are reviewed periodically and adjusted if needed. ChoiceOne’s consumer loan portfolio is primarily monitored on an exception basis. Loans where payments are past due are turned over to the Bank’s collection department, which works with the borrower to bring payments current or take other actions when necessary. In addition to internal reviews of credit performance, ChoiceOne contracts with a third party for independent loan review that monitors the loan approval process and the credit quality of the loan portfolio. Activity in the allowance for loan losses and balances in the loan portfolio were as follows:
(Dollars in thousands) |  |  |  |  | Commercial |  |  |  |  |  | Commercial |  |  | Construction |  |  | Residential |  |  |  |  |  |  |
|  | Agricultural |  |  | and Industrial |  |  | Consumer |  |  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Unallocated |  |  | Total |
2016 Allowance for Loan Losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 420 |  |  | $ | 586 |  |  | $ | 297 |  |  | $ | 1,030 |  |  | $ | 46 |  |  | $ | 1,388 |  |  | $ | 427 |  |  | $ | 4,194 |
Charge-offs |  |  | — |  |  |  | (37 | ) |  |  | (218 | ) |  |  | — |  |  |  | — |  |  |  | (102 | ) |  |  | — |  |  |  | (357 | )
Recoveries |  |  | — |  |  |  | 31 |  |  |  | 149 |  |  |  | 89 |  |  |  | — |  |  |  | 171 |  |  |  | — |  |  |  | 440 |
Provision |  |  | 13 |  |  |  | 108 |  |  |  | 77 |  |  |  | 319 |  |  |  | 16 |  |  |  | (444 | ) |  |  | (89 | ) |  |  | — |
Ending balance |  | $ | 433 |  |  | $ | 688 |  |  | $ | 305 |  |  | $ | 1,438 |  |  | $ | 62 |  |  | $ | 1,013 |  |  | $ | 338 |  |  | $ | 4,277 |
Individually evaluated for impairment |  | $ | 3 |  |  | $ | 11 |  |  | $ | 2 |  |  | $ | 91 |  |  | $ | — |  |  | $ | 296 |  |  | $ | — |  |  | $ | 403 |
Collectively evaluated for impairment |  | $ | 430 |  |  | $ | 677 |  |  | $ | 303 |  |  | $ | 1,347 |  |  | $ | 62 |  |  | $ | 717 |  |  | $ | 338 |  |  | $ | 3,874 |
Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 526 |  |  | $ | 301 |  |  | $ | 28 |  |  | $ | 1,073 |  |  | $ | — |  |  | $ | 2,983 |  |  |  |  |  |  | $ | 4,911 |
Collectively evaluated for impairment |  |  | 44,088 |  |  |  | 95,787 |  |  |  | 21,568 |  |  |  | 109,689 |  |  |  | 6,153 |  |  |  | 86,804 |  |  |  |  |  |  |  | 364,089 |
Ending balance |  | $ | 44,614 |  |  | $ | 96,088 |  |  | $ | 21,596 |  |  | $ | 110,762 |  |  | $ | 6,153 |  |  | $ | 89,787 |  |  |  |  |  |  | $ | 369,000 |
(Dollars in thousands) |  |  |  |  |  | Commercial |  |  |  |  |  |  | Commercial |  |  | Construction |  |  | Residential |  |  |  |  |  |  |  |  |
|  | Agricultural |  |  | and Industrial |  |  | Consumer |  |  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Unallocated |  |  | Total |
2015 Allowance for Loan Losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 186 |  |  | $ | 527 |  |  | $ | 184 |  |  | $ | 1,641 |  |  | $ | 9 |  |  | $ | 1,193 |  |  | $ | 433 |  |  | $ | 4,173 |
Charge-offs |  |  | — |  |  |  | (30 | ) |  |  | (291 | ) |  |  | — |  |  |  | — |  |  |  | (140 | ) |  |  | — |  |  |  | (461 | )
Recoveries |  |  | 1 |  |  |  | 64 |  |  |  | 121 |  |  |  | 47 |  |  |  | — |  |  |  | 149 |  |  |  | — |  |  |  | 382 |
Provision |  |  | 233 |  |  |  | 25 |  |  |  | 283 |  |  |  | (658 | ) |  |  | 37 |  |  |  | 186 |  |  |  | (6 | ) |  |  | 100 |
Ending balance |  | $ | 420 |  |  | $ | 586 |  |  | $ | 297 |  |  | $ | 1,030 |  |  | $ | 46 |  |  | $ | 1,388 |  |  | $ | 427 |  |  | $ | 4,194 |
Individually evaluated for impairment |  | $ | 3 |  |  | $ | 15 |  |  | $ | 1 |  |  | $ | 191 |  |  | $ | — |  |  | $ | 296 |  |  | $ | — |  |  | $ | 506 |
Collectively evaluated for impairment |  | $ | 417 |  |  | $ | 571 |  |  | $ | 296 |  |  | $ | 839 |  |  | $ | 46 |  |  | $ | 1,092 |  |  | $ | 427 |  |  | $ | 3,688 |
Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 50 |  |  | $ | 192 |  |  | $ | 24 |  |  | $ | 2,790 |  |  | $ | — |  |  | $ | 2,529 |  |  |  |  |  |  | $ | 5,585 |
Collectively evaluated for impairment |  |  | 40,182 |  |  |  | 94,155 |  |  |  | 20,066 |  |  |  | 94,946 |  |  |  | 5,390 |  |  |  | 88,980 |  |  |  |  |  |  |  | 343,719 |
Ending balance |  | $ | 40,232 |  |  | $ | 94,347 |  |  | $ | 20,090 |  |  | $ | 97,736 |  |  | $ | 5,390 |  |  | $ | 91,509 |  |  |  |  |  |  | $ | 349,304 |
(Dollars in thousands) |  |  |  |  | Commercial |  |  |  |  |  | Commercial |  |  | Construction |  |  | Residential |  |  |  |  |  |  |
|  | Agricultural |  |  | and Industrial |  |  | Consumer |  |  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Unallocated |  |  | Total |
2014 Allowance for Loan Losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 178 |  |  | $ | 562 |  |  | $ | 192 |  |  | $ | 1,842 |  |  | $ | 12 |  |  | $ | 1,626 |  |  | $ | 323 |  |  | $ | 4,735 |
Charge-offs |  |  | — |  |  |  | (1 | ) |  |  | (273 | ) |  |  | (665 | ) |  |  | — |  |  |  | (133 | ) |  |  | — |  |  |  | (1,072 | )
Recoveries |  |  | 20 |  |  |  | 119 |  |  |  | 179 |  |  |  | 48 |  |  |  | — |  |  |  | 44 |  |  |  | — |  |  |  | 410 |
Provision |  |  | (12 | ) |  |  | (153 | ) |  |  | 86 |  |  |  | 416 |  |  |  | (3 | ) |  |  | (344 | ) |  |  | 110 |  |  |  | 100 |
Ending balance |  | $ | 186 |  |  | $ | 527 |  |  | $ | 184 |  |  | $ | 1,641 |  |  | $ | 9 |  |  | $ | 1,193 |  |  | $ | 433 |  |  | $ | 4,173 |
Individually evaluated for impairment |  | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | 745 |  |  | $ | — |  |  | $ | 365 |  |  | $ | — |  |  | $ | 1,114 |
Collectively evaluated for impairment |  | $ | 186 |  |  | $ | 527 |  |  | $ | 180 |  |  | $ | 896 |  |  | $ | 9 |  |  | $ | 828 |  |  | $ | 433 |  |  | $ | 3,059 |
Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | — |  |  | $ | 38 |  |  | $ | 36 |  |  | $ | 3,853 |  |  | $ | — |  |  | $ | 2,958 |  |  |  |  |  |  | $ | 6,885 |
Collectively evaluated for impairment |  |  | 41,098 |  |  |  | 88,024 |  |  |  | 20,716 |  |  |  | 95,954 |  |  |  | 2,691 |  |  |  | 90,745 |  |  |  |  |  |  |  | 339,228 |
Ending balance |  | $ | 41,098 |  |  | $ | 88,062 |  |  | $ | 20,752 |  |  | $ | 99,807 |  |  | $ | 2,691 |  |  | $ | 93,703 |  |  |  |  |  |  | $ | 346,113 |
The process to monitor the credit quality of ChoiceOne’s loan portfolio includes tracking (1) the risk ratings of business loans, (2) the level of classified business loans, and (3) delinquent and nonperforming consumer loans. Business loans are risk rated on a scale of 1 to 8. A description of the characteristics of the ratings follows: Risk ratings 1 and 2: These loans are considered pass credits. They exhibit good to exceptional credit risk and demonstrate the ability to repay the loan from normal business operations. Risk rating 3: These loans are considered pass credits. They exhibit acceptable credit risk and demonstrate the ability to repay the loan from normal business operations. Risk rating 4: These loans are considered watch credits. They have potential developing weaknesses that, if not corrected, may cause deterioration in the ability of the borrower to repay the loan. While a loss is possible for a loan with this rating, it is not anticipated. Risk rating 5: These loans are considered special mention credits. Loans in this risk rating are considered to be inadequately protected by the net worth and debt service coverage of the borrower or of any pledged collateral. These loans have well defined weaknesses that may jeopardize the borrower’s ability to repay the loan. If the weaknesses are not corrected, loss of principal and interest could be probable. Risk rating 6: These loans are considered substandard credits. These loans have well defined weaknesses, the severity of which makes collection of principal and interest in full questionable. Loans in this category may be placed on nonaccrual status. Risk rating 7: These loans are considered doubtful credits. Some loss of principal and interest has been determined to be probable. The estimate of the amount of loss could be affected by factors such as the borrower’s ability to provide additional capital or collateral. Loans in this category are on nonaccrual status. Risk rating 8: These loans are considered loss credits. They are considered uncollectible and will be charged off against the allowance for loan losses. Information regarding the Bank’s credit exposure as of December 31 was as follows: Corporate Credit Exposure - Credit Risk Profile By Creditworthiness Category
(Dollars in thousands) |  | Agricultural |  |  | Commercial and Industrial |  |  | Commercial Real Estate |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Risk ratings 1 and 2 |  | $ | 12,005 |  |  | $ | 10,416 |  |  | $ | 12,135 |  |  | $ | 10,480 |  |  | $ | 8,013 |  |  | $ | 3,875 |
Risk rating 3 |  |  | 23,852 |  |  |  | 25,189 |  |  |  | 56,714 |  |  |  | 66,921 |  |  |  | 59,343 |  |  |  | 57,540 |
Risk rating 4 |  |  | 7,505 |  |  |  | 3,086 |  |  |  | 25,895 |  |  |  | 16,169 |  |  |  | 39,641 |  |  |  | 29,826 |
Risk rating 5 |  |  | 726 |  |  |  | 1,491 |  |  |  | 1,267 |  |  |  | 574 |  |  |  | 1,867 |  |  |  | 3,776 |
Risk rating 6 |  |  | 526 |  |  |  | 50 |  |  |  | 77 |  |  |  | 129 |  |  |  | 1,898 |  |  |  | 2,719 |
Risk rating 7 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 74 |  |  |  | — |  |  |  | — |
|  | $ | 44,614 |  |  | $ | 40,232 |  |  | $ | 96,088 |  |  | $ | 94,347 |  |  | $ | 110,762 |  |  | $ | 97,736 |
Consumer Credit Exposure - Credit Risk Profile Based On Payment Activity
(Dollars in thousands) |  | Consumer |  |  | Construction Real Estate |  |  | Residential Real Estate |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Performing |  | $ | 21,590 |  |  | $ | 20,090 |  |  | $ | 6,153 |  |  | $ | 5,390 |  |  | $ | 88,767 |  |  | $ | 90,796 |
Nonperforming |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 229 |  |  |  | 282 |
Nonaccrual |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 791 |  |  |  | 431 |
|  | $ | 21,596 |  |  | $ | 20,090 |  |  | $ | 6,153 |  |  | $ | 5,390 |  |  | $ | 89,787 |  |  | $ | 91,509 |
Included within the loan categories above were loans in the process of foreclosure. As of December 31, 2016, and 2015 loans in the process of foreclosure totaled $282,000 and $13,000, respectively. The following schedule provides information on loans that were considered troubled debt restructurings (“TDRs”) that were modified during the twelve months ended December 31, 2016 and December 31, 2015:
|  | December 31, 2016 |  |  | December 31, 2015 |
|  |  |  |  | Pre- |  |  | Post- |  |  |  |  |  | Pre- |  |  | Post- |
|  |  |  |  | Modification |  |  | Modification |  |  |  |  |  | Modification |  |  | Modification |
|  |  |  |  | Outstanding |  |  | Outstanding |  |  |  |  |  | Outstanding |  |  | Outstanding |
(Dollars in thousands) |  | Number of |  |  | Recorded |  |  | Recorded |  |  | Number of |  |  | Recorded |  |  | Recorded |
|  | Loans |  |  | Investment |  |  | Investment |  |  | Loans |  |  | Investment |  |  | Investment |
Agricultural |  |  | 1 |  |  | $ | 105 |  |  | $ | 105 |  |  |  | — |  |  | $ | — |  |  | $ | — |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial real estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | 439 |  |  |  | 439 |
Residential real estate |  |  | 2 |  |  |  | 155 |  |  |  | 155 |  |  |  | 2 |  |  |  | 195 |  |  |  | 195 |
|  |  | 3 |  |  | $ | 260 |  |  | $ | 260 |  |  |  | 6 |  |  | $ | 634 |  |  | $ | 634 |
The pre-modification and post-modification outstanding recorded investment represents amounts as of the date of loan modification. If a difference exists between the pre-modification and post-modification outstanding recorded investment, it represents impairment recognized through the provision for loan losses computed based on a loan’s post-modification present value of expected future cash flows discounted at the loan’s original effective interest rate. If no difference exists, a loss is not expected to be incurred based on an assessment of the borrower’s expected cash flows. The following schedule provides information on TDRs as of December 31, 2016 and December 31, 2015 where the borrower was past due with respect to principal and/or interest for 30 days or more during the twelve months ended December 31, 2016 and December 31, 2015 that had been modified during the 12-month period prior to the default:
|  | With Payment Defaults During the Following Periods |
|  | December 31, 2016 |  |  | December 31, 2015 |
(Dollars in thousands) |  | Number |  |  | Recorded |  |  | Number |  |  | Recorded |
|  | of Loans |  |  | Investment |  |  | of Loans |  |  | Investment |
Agricultural |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial real estate |  |  | 1 |  |  |  | 105 |  |  |  | 3 |  |  |  | 400 |
Residential real estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 1 |  |  | $ | 105 |  |  |  | 3 |  |  | $ | 400 |
Loans are classified as performing when they are current as to principal and interest payments or are past due on payments less than 90 days. Loans are classified as nonperforming when they are past due 90 days or more as to principal and interest payments or are considered a troubled debt restructuring. Impaired loans by loan category as of December 31 were as follows:
|  |  |  |  | Unpaid |  |  |  |  |  | Average |  |  | Interest |
(Dollars in thousands) |  | Recorded |  |  | Principal |  |  | Related |  |  | Recorded |  |  | Income |
|  | Investment |  |  | Balance |  |  | Allowance |  |  | Investment |  |  | Recognized |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With no related allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  | $ | 482 |  |  | $ | 485 |  |  | $ | — |  |  | $ | 220 |  |  | $ | 13 |
Commercial and industrial |  |  | 206 |  |  |  | 207 |  |  |  | — |  |  |  | 91 |  |  |  | 3 |
Consumer |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |
Commercial real estate |  |  | 342 |  |  |  | 939 |  |  |  | — |  |  |  | 925 |  |  |  | 2 |
Residential real estate |  |  | 301 |  |  |  | 292 |  |  |  | — |  |  |  | 167 |  |  |  | 5 |
Subtotal |  |  | 1,331 |  |  |  | 1,923 |  |  |  | — |  |  |  | 1,404 |  |  |  | 23 |
With an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  |  | 44 |  |  |  | 44 |  |  |  | 3 |  |  |  | 72 |  |  |  | 3 |
Commercial and industrial |  |  | 95 |  |  |  | 95 |  |  |  | 11 |  |  |  | 218 |  |  |  | — |
Consumer |  |  | 28 |  |  |  | 28 |  |  |  | 2 |  |  |  | 24 |  |  |  | 2 |
Commercial real estate |  |  | 731 |  |  |  | 804 |  |  |  | 91 |  |  |  | 1,281 |  |  |  | 33 |
Residential real estate |  |  | 2,682 |  |  |  | 2,711 |  |  |  | 296 |  |  |  | 2,672 |  |  |  | 108 |
Subtotal |  |  | 3,580 |  |  |  | 3,682 |  |  |  | 403 |  |  |  | 4,267 |  |  |  | 146 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  |  | 526 |  |  |  | 529 |  |  |  | 3 |  |  |  | 292 |  |  |  | 16 |
Commercial and industrial |  |  | 301 |  |  |  | 302 |  |  |  | 11 |  |  |  | 309 |  |  |  | 3 |
Consumer |  |  | 28 |  |  |  | 28 |  |  |  | 2 |  |  |  | 25 |  |  |  | 2 |
Commercial real estate |  |  | 1,073 |  |  |  | 1,743 |  |  |  | 91 |  |  |  | 2,206 |  |  |  | 35 |
Residential real estate |  |  | 2,983 |  |  |  | 3,003 |  |  |  | 296 |  |  |  | 2,839 |  |  |  | 113 |
Total |  | $ | 4,911 |  |  | $ | 5,605 |  |  | $ | 403 |  |  | $ | 5,671 |  |  | $ | 169 |
|  |  |  |  | Unpaid |  |  |  |  |  | Average |  |  | Interest |
(Dollars in thousands) |  | Recorded |  |  | Principal |  |  | Related |  |  | Recorded |  |  | Income |
|  | Investment |  |  | Balance |  |  | Allowance |  |  | Investment |  |  | Recognized |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With no related allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial and industrial |  |  | 74 |  |  |  | 103 |  |  |  | — |  |  |  | 25 |  |  |  | — |
Consumer |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |
Commercial real estate |  |  | 1,540 |  |  |  | 1,540 |  |  |  | — |  |  |  | 1,061 |  |  |  | 11 |
Residential real estate |  |  | 13 |  |  |  | 13 |  |  |  | — |  |  |  | 191 |  |  |  | — |
Subtotal |  |  | 1,627 |  |  |  | 1,656 |  |  |  | — |  |  |  | 1,279 |  |  |  | 11 |
With an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  |  | 50 |  |  |  | 50 |  |  |  | 3 |  |  |  | 62 |  |  |  | (6 | )
Commercial and industrial |  |  | 118 |  |  |  | 118 |  |  |  | 15 |  |  |  | 44 |  |  |  | 1 |
Consumer |  |  | 24 |  |  |  | 24 |  |  |  | 1 |  |  |  | 34 |  |  |  | 3 |
Commercial real estate |  |  | 1,250 |  |  |  | 1,755 |  |  |  | 191 |  |  |  | 2,002 |  |  |  | 64 |
Residential real estate |  |  | 2,516 |  |  |  | 2,516 |  |  |  | 296 |  |  |  | 2,425 |  |  |  | 86 |
Subtotal |  |  | 3,958 |  |  |  | 4,463 |  |  |  | 506 |  |  |  | 4,567 |  |  |  | 148 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  |  | 50 |  |  |  | 50 |  |  |  | 3 |  |  |  | 62 |  |  |  | (6 | )
Commercial and industrial |  |  | 192 |  |  |  | 221 |  |  |  | 15 |  |  |  | 69 |  |  |  | 1 |
Consumer |  |  | 24 |  |  |  | 24 |  |  |  | 1 |  |  |  | 36 |  |  |  | 3 |
Commercial real estate |  |  | 2,790 |  |  |  | 3,295 |  |  |  | 191 |  |  |  | 3,063 |  |  |  | 75 |
Residential real estate |  |  | 2,529 |  |  |  | 2,529 |  |  |  | 296 |  |  |  | 2,616 |  |  |  | 86 |
Total |  | $ | 5,585 |  |  | $ | 6,119 |  |  | $ | 506 |  |  | $ | 5,846 |  |  | $ | 159 |
|  |  |  |  | Unpaid |  |  |  |  |  | Average |  |  | Interest |
(Dollars in thousands) |  | Recorded |  |  | Principal |  |  | Related |  |  | Recorded |  |  | Income |
|  | Investment |  |  | Balance |  |  | Allowance |  |  | Investment |  |  | Recognized |
2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With no related allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 90 |  |  | $ | — |
Commercial and industrial |  |  | 38 |  |  |  | 43 |  |  |  | — |  |  |  | 81 |  |  |  | — |
Consumer |  |  | 8 |  |  |  | 8 |  |  |  | — |  |  |  | 3 |  |  |  | — |
Commercial real estate |  |  | 413 |  |  |  | 419 |  |  |  | — |  |  |  | 352 |  |  |  | 6 |
Residential real estate |  |  | 502 |  |  |  | 502 |  |  |  | — |  |  |  | 492 |  |  |  | 9 |
Subtotal |  |  | 961 |  |  |  | 972 |  |  |  | — |  |  |  | 1,018 |  |  |  | 15 |
With an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 130 |  |  |  | — |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 292 |  |  |  | 4 |
Consumer |  |  | 28 |  |  |  | 28 |  |  |  | 4 |  |  |  | 31 |  |  |  | 3 |
Commercial real estate |  |  | 3,440 |  |  |  | 4,498 |  |  |  | 745 |  |  |  | 3,932 |  |  |  | 81 |
Residential real estate |  |  | 2,456 |  |  |  | 2,474 |  |  |  | 365 |  |  |  | 2,323 |  |  |  | 91 |
Subtotal |  |  | 5,924 |  |  |  | 7,000 |  |  |  | 1,114 |  |  |  | 6,708 |  |  |  | 179 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 220 |  |  |  | — |
Commercial and industrial |  |  | 38 |  |  |  | 43 |  |  |  | — |  |  |  | 373 |  |  |  | 4 |
Consumer |  |  | 36 |  |  |  | 36 |  |  |  | 4 |  |  |  | 34 |  |  |  | 3 |
Commercial real estate |  |  | 3,853 |  |  |  | 4,917 |  |  |  | 745 |  |  |  | 4,284 |  |  |  | 87 |
Residential real estate |  |  | 2,958 |  |  |  | 2,976 |  |  |  | 365 |  |  |  | 2,815 |  |  |  | 100 |
Total |  | $ | 6,885 |  |  | $ | 7,972 |  |  | $ | 1,114 |  |  | $ | 7,726 |  |  | $ | 194 |
An aging analysis of loans by loan category as of December 31 follows:
|  |  |  |  |  |  |  | Loans |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Loans |  |  | Loans |  |  | Past Due |  |  |  |  |  |  |  |  |  |  |  | Loans |
|  | Past Due |  |  | Past Due |  |  | Greater |  |  |  |  |  |  |  |  |  |  |  | 90 Days Past |
(Dollars in thousands) |  | 30 to 59 |  |  | 60 to 89 |  |  | Than 90 |  |  |  |  |  | Loans Not |  |  | Total |  |  | Due and |
|  | Days (1) |  |  | Days (1) |  |  | Days (1) |  |  | Total (1) |  |  | Past Due |  |  | Loans |  |  | Accruing |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 44,614 |  |  | $ | 44,614 |  |  | $ | — |
Commercial and industrial |  |  | — |  |  |  | 30 |  |  |  | 245 |  |  |  | 275 |  |  |  | 95,813 |  |  |  | 96,088 |  |  |  | — |
Consumer |  |  | 99 |  |  |  | 2 |  |  |  | 6 |  |  |  | 107 |  |  |  | 21,489 |  |  |  | 21,596 |  |  |  | — |
Commercial real estate |  |  | — |  |  |  | — |  |  |  | 260 |  |  |  | 260 |  |  |  | 110,502 |  |  |  | 110,762 |  |  |  | — |
Construction real estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,153 |  |  |  | 6,153 |  |  |  | — |
Residential real estate |  |  | 1,027 |  |  |  | 109 |  |  |  | 646 |  |  |  | 1,782 |  |  |  | 88,005 |  |  |  | 89,787 |  |  |  | 229 |
|  | $ | 1,126 |  |  | $ | 141 |  |  | $ | 1,157 |  |  | $ | 2,424 |  |  | $ | 366,576 |  |  | $ | 369,000 |  |  | $ | 229 |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | 40,229 |  |  | $ | 40,232 |  |  | $ | — |
Commercial and industrial |  |  | 90 |  |  |  | 322 |  |  |  | 77 |  |  |  | 489 |  |  |  | 93,858 |  |  |  | 94,347 |  |  |  | — |
Consumer |  |  | 115 |  |  |  | — |  |  |  | — |  |  |  | 115 |  |  |  | 19,975 |  |  |  | 20,090 |  |  |  | — |
Commercial real estate |  |  | 505 |  |  |  | 297 |  |  |  | 1,233 |  |  |  | 2,035 |  |  |  | 95,701 |  |  |  | 97,736 |  |  |  | — |
Construction real estate |  |  | 299 |  |  |  | — |  |  |  | — |  |  |  | 299 |  |  |  | 5,091 |  |  |  | 5,390 |  |  |  | — |
Residential real estate |  |  | 1,012 |  |  |  | 364 |  |  |  | 200 |  |  |  | 1,576 |  |  |  | 89,933 |  |  |  | 91,509 |  |  |  | 29 |
|  | $ | 2,024 |  |  | $ | 983 |  |  | $ | 1,510 |  |  | $ | 4,517 |  |  | $ | 344,787 |  |  | $ | 349,304 |  |  | $ | 29 |
(1) Includes nonaccrual loans. Nonaccrual loans by loan category as of December 31 follow:
(Dollars in thousands) |  |  |  |  |  |
|  | 2016 |  |  | 2015 |
Agricultural |  | $ | 482 |  |  | $ | 50 |
Commercial and industrial |  |  | 245 |  |  |  | 77 |
Consumer |  |  | 6 |  |  |  | — |
Commercial real estate |  |  | 458 |  |  |  | 1,640 |
Construction real estate |  |  | — |  |  |  | — |
Residential real estate |  |  | 792 |  |  |  | 431 |
|  | $ | 1,983 |  |  | $ | 2,198 |

X
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