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Note 3 - Loans and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2022

Notes Tables

Financing Receivable, Allowance for Credit Loss [Table Text Block]

						Commercial
(Dollars in thousands)						and								Commercial				Construction				Residential
		Agricultural				Industrial				Consumer				Real Estate				Real Estate				Real Estate				Unallocated				Total
Allowance for Loan Losses Three Months Ended September 30, 2022
Beginning balance		$	132			$	1,613			$	309			$	4,224			$	45			$	691			$	402			$	7,416
Charge-offs			—				(47	)			(128	)			-				—				—				—				(175	)
Recoveries			—				59				56				1				—				—				—				116
Provision			8				(252	)			66				384				14				178				(298	)			100
Ending balance		$	140			$	1,373			$	303			$	4,609			$	59			$	869			$	104			$	7,457
Allowance for Loan Losses Nine Months Ended September 30, 2022
Beginning balance		$	448			$	1,454			$	290			$	3,705			$	110			$	671			$	1,010			$	7,688
Charge-offs			—				(177	)			(383	)			—				—				—				—				(560	)
Recoveries			—				62				162				3				—				2				—				229
Provision			(308	)			34				234				901				(51	)			196				(906	)			100
Ending balance		$	140			$	1,373			$	303			$	4,609			$	59			$	869			$	104			$	7,457
Individually evaluated for impairment		$	1			$	6			$	1			$	6			$	—			$	143			$	—			$	157
Collectively evaluated for impairment		$	139			$	1,367			$	302			$	4,603			$	59			$	726			$	104			$	7,300
Loans
September 30, 2022
Individually evaluated for impairment		$	312			$	108			$	7			$	140			$	—			$	2,070			$	—			$	2,637
Collectively evaluated for impairment			63,035				204,686				38,340				584,274				14,299				210,867				—				1,115,501
Acquired with deteriorated credit quality			—				3,796				9				8,781				—				1,677				—				14,263
Ending balance		$	63,347			$	208,590			$	38,356			$	593,195			$	14,299			$	214,614							$	1,132,401

						Commercial
(Dollars in thousands)						and								Commercial				Construction				Residential
		Agricultural				Industrial				Consumer				Real Estate				Real Estate				Real Estate				Unallocated				Total
Allowance for Loan Losses Three Months Ended September 30, 2021
Beginning balance		$	374			$	1,523			$	243			$	4,377			$	74			$	860			$	499			$	7,950
Charge-offs			—				(96	)			(98	)			(63	)			—				-				—				(257	)
Recoveries			—				7				54				—				—				1				—				62
Provision			144				168				33				(154	)			39				80				(310	)			-
Ending balance		$	518			$	1,602			$	232			$	4,160			$	113			$	941			$	189			$	7,755
Allowance for Loan Losses Nine Months Ended September 30, 2021
Beginning balance		$	257			$	1,327			$	317			$	4,178			$	97			$	1,300			$	117			$	7,593
Charge-offs			—				(195	)			(244	)			(111	)			—				—				—				(550	)
Recoveries			—				80				168				43				—				5				—				296
Provision			261				390				(9	)			50				16				(364	)			72				416
Ending balance		$	518			$	1,602			$	232			$	4,160			$	113			$	941			$	189			$	7,755
Individually evaluated for impairment		$	124			$	174			$	-			$	8			$	-			$	177			$	-			$	483
Collectively evaluated for impairment		$	394			$	1,428			$	232			$	4,152			$	113			$	764			$	189			$	7,272
Loans
September 30, 2021
Individually evaluated for impairment		$	3,051			$	296			$	-			$	418			$	-			$	2,191							$	5,956
Collectively evaluated for impairment			60,394				211,695				33,793				474,425				18,238				165,913								964,458
Acquired with deteriorated credit quality			—				5,251				13				10,489				—				2,190								17,943
Ending balance		$	63,445			$	217,242			$	33,806			$	485,332			$	18,238			$	170,294							$	988,357

						Commercial
(Dollars in thousands)						and								Commercial				Construction				Residential
		Agricultural				Industrial				Consumer				Real Estate				Real Estate				Real Estate				Unallocated				Total
Allowance for Loan Losses
December 31, 2021
Individually evaluated for impairment		$	251			$	95			$	2			$	9			$	-			$	146			$	-			$	503
Collectively evaluated for impairment		$	197			$	1,359			$	288			$	3,696			$	110			$	525			$	1,010			$	7,185
Loans
December 31, 2021
Individually evaluated for impairment		$	2,616			$	339			$	14			$	273			$	-			$	2,191							$	5,433
Collectively evaluated for impairment			62,203				197,656				35,148				515,528				19,066				164,647								994,248
Acquired with deteriorated credit quality			-				5,029				12				10,083				-				2,043								17,167
Ending balance		$	64,819			$	203,024			$	35,174			$	525,884			$	19,066			$	168,881							$	1,016,848

Financing Receivable Credit Quality Indicators [Table Text Block]

(Dollars in thousands)		Agricultural								Commercial and Industrial								Commercial Real Estate
		September 30,				December 31,				September 30,				December 31,				September 30,				December 31,
		2022				2021				2022				2021				2022				2021
Pass		$	62,733			$	61,864			$	208,087			$	201,202			$	588,066			$	519,537
Special Mention			302				339				344				300				729				778
Substandard			312				2,616				159				1,266				4,400				5,569
Doubtful			-				-				-				256				-				-
		$	63,347			$	64,819			$	208,590			$	203,024			$	593,195			$	525,884

(Dollars in thousands)		Consumer								Construction Real Estate								Residential Real Estate
		September 30,				December 31,				September 30,				December 31,				September 30,				December 31,
		2022				2021				2022				2021				2022				2021
Performing		$	38,349			$	35,174			$	14,299			$	19,066			$	213,777			$	168,031
Nonperforming			-				-				-				-				-				-
Nonaccrual			7				-				-				-				837				850
		$	38,356			$	35,174			$	14,299			$	19,066			$	214,614			$	168,881

Financing Receivable, Troubled Debt Restructuring [Table Text Block]

		Three Months Ended September 30, 2022												Nine Months Ended September 30, 2022
						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			$	253			$	253
Commercial and industrial			-				-				-				1				18				18
Total			-			$	-			$	-				2			$	271			$	271

		Three Months Ended September 30, 2021												Nine Months Ended September 30, 2021
						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			-			$	-			$	-				6			$	2,210			$	2,210
Commercial Real Estate			1				493				493				2				931				931
Total			1			$	493			$	493				8			$	3,141			$	3,141

Impaired Financing Receivables [Table Text Block]

						Unpaid
(Dollars in thousands)		Recorded				Principal				Related
		Investment				Balance				Allowance
September 30, 2022
With no related allowance recorded
Agricultural		$	307			$	428			$	-
Commercial and industrial			-				-				-
Consumer			-				-				-
Construction real estate			-				-				-
Commercial real estate			-				-				-
Residential real estate			-				-				-
Subtotal			307				428				-
With an allowance recorded
Agricultural			5				5				1
Commercial and industrial			108				185				6
Consumer			7				7				1
Construction real estate			-				-				-
Commercial real estate			140				140				6
Residential real estate			2,070				2,149				143
Subtotal			2,330				2,486				157
Total
Agricultural			312				433				1
Commercial and industrial			108				185				6
Consumer			7				7				1
Construction real estate			-				-				-
Commercial real estate			140				140				6
Residential real estate			2,070				2,149				143
Total		$	2,637			$	2,914			$	157

						Unpaid
(Dollars in thousands)		Recorded				Principal				Related
		Investment				Balance				Allowance
December 31, 2021
With no related allowance recorded
Agricultural		$	314			$	428			$	-
Commercial and industrial			-				-				-
Consumer			-				-				-
Construction real estate			-				-				-
Commercial real estate			94				94				-
Residential real estate			164				172				-
Subtotal			572				694				-
With an allowance recorded
Agricultural			2,302				2,302				251
Commercial and industrial			339				363				95
Consumer			14				15				2
Construction real estate			-				-				-
Commercial real estate			179				179				9
Residential real estate			2,027				2,084				146
Subtotal			4,861				4,943				503
Total
Agricultural			2,616				2,730				251
Commercial and industrial			339				363				95
Consumer			14				15				2
Construction real estate			-				-				-
Commercial real estate			273				273				9
Residential real estate			2,191				2,256				146
Total		$	5,433			$	5,637			$	503

		Average				Interest
(Dollars in thousands)		Recorded				Income
		Investment				Recognized
Three Months Ended September 30, 2022
With no related allowance recorded
Agricultural		$	310			$	-
Commercial and industrial			-				-
Consumer			-				-
Construction real estate			-				-
Commercial real estate			-				-
Residential real estate			220				-
Subtotal			530				-
With an allowance recorded
Agricultural			6				-
Commercial and industrial			134				1
Consumer			7				-
Construction real estate			-				-
Commercial real estate			145				2
Residential real estate			1,842				16
Subtotal			2,134				19
Total
Agricultural			316				-
Commercial and industrial			134				1
Consumer			7				-
Construction real estate			-				-
Commercial real estate			145				2
Residential real estate			2,062				16
Total		$	2,664			$	19

		Average				Interest
(Dollars in thousands)		Recorded				Income
		Investment				Recognized
Three Months Ended September 30, 2021
With no related allowance recorded
Agricultural		$	989			$	-
Commercial and industrial			-				-
Consumer			-				-
Construction real estate			-				-
Commercial real estate			507				2
Residential real estate			320				-
Subtotal			1,816				2
With an allowance recorded
Agricultural			2,119				36
Commercial and industrial			240				2
Consumer			-				-
Construction real estate			-				-
Commercial real estate			272				2
Residential real estate			1,943				14
Subtotal			4,574				54
Total
Agricultural			3,108				36
Commercial and industrial			240				2
Consumer			-				-
Construction real estate			-				-
Commercial real estate			779				4
Residential real estate			2,263				14
Total		$	6,390			$	56

		Average				Interest
(Dollars in thousands)		Recorded				Income
		Investment				Recognized
Nine Months Ended September 30, 2022
With no related allowance recorded
Agricultural		$	312			$	-
Commercial and industrial			23				-
Consumer			-				-
Construction real estate			-				-
Commercial real estate			23				-
Residential real estate			151				-
Subtotal			509				-
With an allowance recorded
Agricultural			1,136				-
Commercial and industrial			217				3
Consumer			15				-
Construction real estate			-				-
Commercial real estate			156				7
Residential real estate			1,891				49
Subtotal			3,415				59
Total
Agricultural			1,448				-
Commercial and industrial			240				3
Consumer			15				-
Construction real estate			-				-
Commercial real estate			179				7
Residential real estate			2,042				49
Total		$	3,924			$	59

		Average				Interest
(Dollars in thousands)		Recorded				Income
		Investment				Recognized
Nine Months Ended September 30, 2021
With no related allowance recorded
Agricultural		$	669			$	52
Commercial and industrial			745				-
Consumer			-				-
Construction real estate			20				-
Commercial real estate			1,372				34
Residential real estate			243				-
Subtotal			3,049				86
With an allowance recorded
Agricultural			1,766				71
Commercial and industrial			198				3
Consumer			2				-
Construction real estate			-				-
Commercial real estate			525				8
Residential real estate			2,215				47
Subtotal			4,706				129
Total
Agricultural			2,435				123
Commercial and industrial			943				3
Consumer			2				-
Construction real estate			20				-
Commercial real estate			1,897				42
Residential real estate			2,458				47
Total		$	7,755			$	215

Financing Receivable, Past Due [Table Text Block]

										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
September 30, 2022
Agricultural		$	-			$	-			$	-			$	-			$	63,347			$	63,347			$	-
Commercial and industrial			1,065				-				46				1,111				207,479				208,590				-
Consumer			17				-				-				17				38,339				38,356				-
Commercial real estate			-				-				-				-				593,195				593,195				-
Construction real estate			-				-				-				-				14,299				14,299				-
Residential real estate			48				615				31				694				213,920				214,614
		$	1,130			$	615			$	77			$	1,822			$	1,130,579			$	1,132,401			$	-
December 31, 2021
Agricultural		$	-			$	-			$	-			$	-			$	64,819			$	64,819			$	-
Commercial and industrial			21				-				88				109				202,915				203,024				-
Consumer			70				15				-				85				35,089				35,174				-
Commercial real estate			422				13				279				714				525,170				525,884				-
Construction real estate			1,149				1,235				-				2,384				16,682				19,066				-
Residential real estate			1,489				306				454				2,249				166,632				168,881				-
		$	3,151			$	1,569			$	821			$	5,541			$	1,011,307			$	1,016,848			$	-

Financing Receivable, Nonaccrual [Table Text Block]

(Dollars in thousands)		September 30,				December 31,
		2022				2021
Agricultural		$	307			$	313
Commercial and industrial			46				285
Consumer			7				-
Commercial real estate			-				279
Residential real estate			837				850
		$	1,197			$	1,727

Business Acquisition, Pro Forma Information, Nonrecurring Adjustments [Table Text Block]

		Acquired				Acquired				Acquired
		Impaired				Non-impaired				Total
Loans acquired - contractual payments		$	7,729			$	387,394			$	395,123
Nonaccretable difference			(2,928	)			-				(2,928	)
Expected cash flows			4,801				387,394				392,195
Accretable yield			(185	)			(1,894	)			(2,079	)
Carrying balance at acquisition date		$	4,616			$	385,500			$	390,116

(Dollars in thousands)		Acquired				Acquired				Acquired
		Impaired				Non-impaired				Total
Balance, January 1, 2019		$	-			$	-			$	-
Merger with County Bank Corp. on October 1, 2019			185				1,894				2,079
Accretion October 1, 2019 through December 31, 2019			-				(75	)			(75	)
Balance January 1, 2020			185				1,819				2,004
Accretion January 1, 2020 through December 31, 2020			(50	)			(295	)			(345	)
Balance January 1, 2021			135				1,524				1,659
Accretion January 1, 2021 through December 31, 2021			(247	)			(348	)			(595	)
Transfer from non-accretable to accretable yield			400				-				400
Balance January 1, 2022			288				1,176				1,464
Transfer from non-accretable to accretable yield			2,192				-				2,192
Accretion January 1, 2022 through September 30, 2022			(396	)			(32	)			(428	)
Balance, September 30, 2022		$	2,084			$	1,144			$	3,228

		Acquired				Acquired				Acquired
		Impaired				Non-impaired				Total
Loans acquired - contractual payments		$	20,491			$	158,495			$	178,986
Nonaccretable difference			(2,719	)			-				(2,719	)
Expected cash flows			17,772				158,495				176,267
Accretable yield			(869	)			(596	)			(1,465	)
Carrying balance at acquisition date		$	16,903			$	157,899			$	174,802

		Acquired				Acquired				Acquired
		Impaired				Non-impaired				Total
Balance January 1, 2020		$	-			$	-			$	-
Merger with Community Shores Bank Corporation on July 1, 2020			869				596				1,465
Accretion July 1, 2020 through December 31, 2020			(26	)			(141	)			(167	)
Balance, January 1, 2021			843				455				1,298
Accretion January 1, 2021 through December 31, 2021			(321	)			(258	)			(579	)
Balance January 1, 2022			522				197				719
Transfer from non-accretable to accretable yield			1,086				-				1,086
Accretion January 1, 2022 through September 30, 2022			(837	)			(197	)			(1,034	)
Balance, September 30, 2022		$	771			$	-			$	771

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Tabular disclosure of allowance for credit loss on financing receivable.

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- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

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-Publisher FASB
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