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Loans and Allowance for Credit Losses (Tables) | 12 Months Ended
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Dec. 31, 2023
Receivables [Abstract] |
Loans by Type as Percentage of Portfolio | The Bank’s loan portfolio as of December 31 was as follows:
(Dollars in thousands) |  |  |  |  |  |
|  | 2023 |  |  | 2022 |
Agricultural |  | $ | 49,210 |  |  | $ | 64,159 |
Commercial and industrial |  |  | 229,915 |  |  |  | 210,210 |
Consumer |  |  | 36,541 |  |  |  | 39,808 |
Real estate - commercial |  |  | 786,921 |  |  |  | 630,953 |
Real estate - construction |  |  | 20,936 |  |  |  | 14,736 |
Real estate - residential |  |  | 267,730 |  |  |  | 229,916 |
Loans to other financial institutions |  |  | 19,400 |  |  |  | - |
Total Loans |  | $ | 1,410,653 |  |  | $ | 1,189,782 |
Allowance for credit losses |  |  | (15,685 | ) |  |  | (7,619 | )
Loans, net |  | $ | 1,394,968 |  |  | $ | 1,182,163 |
Acquired Portfolio and The Acquisition Fair Value Adjustments | The table below details the outstanding balances of the County Bank Corp. acquired portfolio and the acquisition fair value adjustments at acquisition date:
(Dollars in thousands) |  | 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 |
The table below presents a roll-forward of the accretable yield on County Bank Corp. acquired loans for the year ended December 31, 2022:
(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 December 31, 2022 |  |  | (553 | ) |  |  | (98 | ) |  |  | (651 | )
Balance December 31, 2022 |  | $ | 1,927 |  |  | $ | 1,078 |  |  | $ | 3,005 |
The table below details the outstanding balances of the Community Shores Bank Corporation acquired loan portfolio and the acquisition fair value adjustments at acquisition date:
(Dollars in thousands) |  | 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 |
The table below presents a roll-forward of the accretable yield on Community Shores Bank Corporation acquired loans for the year ended December 31, 2022:
(Dollars in thousands) |  | 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 December 31, 2022 |  |  | (993 | ) |  |  | (197 | ) |  |  | (1,190 | )
Balance December 31, 2022 |  | $ | 615 |  |  | $ | - |  |  | $ | 615 |
Allowance for Credit Losses and Balances in Loan Portfolio | Activity in the allowance for credit losses and balances in the loan portfolio was as follows:
|  |  |  |  | Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans to Other |  |  |  |  |  |  |
(Dollars in thousands) |  |  |  |  | and |  |  |  |  |  | Commercial |  |  | Construction |  |  | Residential |  |  | Financial |  |  |  |  |  |  |
|  | Agricultural |  |  | Industrial |  |  | Consumer |  |  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Institutions |  |  | Unallocated |  |  | Total |
Allowance for Credit Losses Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 144 |  |  | $ | 1,361 |  |  | $ | 310 |  |  | $ | 4,822 |  |  | $ | 63 |  |  | $ | 906 |  |  | $ | - |  |  | $ | 13 |  |  | $ | 7,619 |
Cumulative effect of change in accounting principle |  |  | 14 |  |  |  | 1,587 |  |  |  | 541 |  |  |  | 3,006 |  |  |  | 20 |  |  |  | 2,010 |  |  |  | - |  |  |  | (13 | ) |  |  | 7,165 |
Charge-offs |  |  | - |  |  |  | (158 | ) |  |  | (554 | ) |  |  | - |  |  |  | - |  |  |  | (27 | ) |  |  | - |  |  |  | - |  |  |  | (739 | )
Recoveries |  |  | - |  |  |  | 66 |  |  |  | 283 |  |  |  | 13 |  |  |  | - |  |  |  | 13 |  |  |  | - |  |  |  | - |  |  |  | 375 |
Provision |  |  | (64 | ) |  |  | (640 | ) |  |  | 243 |  |  |  | 979 |  |  |  | (25 | ) |  |  | 742 |  |  |  | 30 |  |  |  | - |  |  |  | 1,265 |
Ending balance |  | $ | 94 |  |  | $ | 2,216 |  |  | $ | 823 |  |  | $ | 8,820 |  |  | $ | 58 |  |  | $ | 3,644 |  |  | $ | 30 |  |  | $ | - |  |  | $ | 15,685 |
Individually evaluated loan reserves |  | $ | 2 |  |  | $ | 6 |  |  | $ | - |  |  | $ | 1 |  |  | $ | - |  |  | $ | 51 |  |  | $ | - |  |  | $ | - |  |  | $ | 60 |
Collectively evaluated loan reserves |  | $ | 92 |  |  | $ | 2,210 |  |  | $ | 823 |  |  | $ | 8,819 |  |  | $ | 58 |  |  | $ | 3,593 |  |  | $ | 30 |  |  | $ | - |  |  | $ | 15,625 |
Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated loans |  | $ | 54 |  |  | $ | 136 |  |  | $ | 2 |  |  | $ | 29 |  |  | $ | - |  |  | $ | 1,858 |  |  | $ | - |  |  |  |  |  | $ | 2,079 |
Collectively evaluated loans |  |  | 49,156 |  |  |  | 229,779 |  |  |  | 36,539 |  |  |  | 786,892 |  |  |  | 20,936 |  |  |  | 265,872 |  |  |  | 19,400 |  |  |  |  |  |  | 1,408,574 |
Ending balance |  | $ | 49,210 |  |  | $ | 229,915 |  |  | $ | 36,541 |  |  | $ | 786,921 |  |  | $ | 20,936 |  |  | $ | 267,730 |  |  | $ | 19,400 |  |  |  |  |  | $ | 1,410,653 |
|  |  |  |  | Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans to Other |  |  |  |  |  |  |
(Dollars in thousands) |  |  |  |  | and |  |  |  |  |  | Commercial |  |  | Construction |  |  | Residential |  |  | Financial |  |  |  |  |  |  |
|  | Agricultural |  |  | Industrial |  |  | Consumer |  |  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Institutions |  |  | Unallocated |  |  | Total |
Allowance for Loan Losses Year Ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 448 |  |  | $ | 1,454 |  |  | $ | 290 |  |  | $ | 3,705 |  |  | $ | 110 |  |  | $ | 671 |  |  | $ | - |  |  | $ | 1,010 |  |  | $ | 7,688 |
Charge-offs |  |  | - |  |  |  | (177 | ) |  |  | (496 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (673 | )
Recoveries |  |  | - |  |  |  | 143 |  |  |  | 206 |  |  |  | 3 |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | 354 |
Provision |  |  | (304 | ) |  |  | (59 | ) |  |  | 310 |  |  |  | 1,114 |  |  |  | (47 | ) |  |  | 233 |  |  |  | - |  |  |  | (997 | ) |  |  | 250 |
Ending balance |  | $ | 144 |  |  | $ | 1,361 |  |  | $ | 310 |  |  | $ | 4,822 |  |  | $ | 63 |  |  | $ | 906 |  |  | $ | - |  |  | $ | 13 |  |  | $ | 7,619 |
Individually evaluated for impairment |  | $ | 2 |  |  | $ | 14 |  |  | $ | 1 |  |  | $ | 5 |  |  | $ | - |  |  | $ | 131 |  |  | $ | - |  |  | $ | - |  |  | $ | 153 |
Collectively evaluated for impairment |  | $ | 142 |  |  | $ | 1,347 |  |  | $ | 309 |  |  | $ | 4,817 |  |  | $ | 63 |  |  | $ | 775 |  |  | $ | - |  |  | $ | 13 |  |  | $ | 7,466 |
Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 23 |  |  | $ | 177 |  |  | $ | 7 |  |  | $ | 165 |  |  | $ | - |  |  | $ | 2,474 |  |  | $ | - |  |  |  |  |  | $ | 2,846 |
Collectively evaluated for impairment |  |  | 64,136 |  |  |  | 206,074 |  |  |  | 39,793 |  |  |  | 622,131 |  |  |  | 14,736 |  |  |  | 225,792 |  |  |  | - |  |  |  |  |  |  | 1,172,662 |
Acquired with deteriorated credit quality |  |  | - |  |  |  | 3,959 |  |  |  | 8 |  |  |  | 8,657 |  |  |  | - |  |  |  | 1,650 |  |  |  | - |  |  |  |  |  |  | 14,274 |
Ending balance |  | $ | 64,159 |  |  | $ | 210,210 |  |  | $ | 39,808 |  |  | $ | 630,953 |  |  | $ | 14,736 |  |  | $ | 229,916 |  |  | $ | - |  |  |  |  |  | $ | 1,189,782 |
Summary of Amortized Cost Basis of Loans | The following table reflects the amortized cost basis of loans as of December 31, 2023 based on year of origination (dollars in thousands):
Commercial: | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Term Loans Total |  |  | Revolving Loans |  |  | Grand Total |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 5,015 |  |  | $ | 4,088 |  |  | $ | 3,078 |  |  | $ | 1,788 |  |  | $ | 7,028 |  |  | $ | 18,476 |  |  | $ | 39,473 |  |  | $ | 9,507 |  |  | $ | 48,980 |
Special mention |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 176 |  |  |  | 54 |  |  |  | 230 |  |  |  | - |  |  |  | 230 |
Substandard |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Loss |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total | $ | 5,015 |  |  | $ | 4,088 |  |  | $ | 3,078 |  |  | $ | 1,788 |  |  | $ | 7,204 |  |  | $ | 18,530 |  |  | $ | 39,703 |  |  | $ | 9,507 |  |  | $ | 49,210 |
Current year-to-date gross write-offs | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Commercial and Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 23,600 |  |  | $ | 45,489 |  |  | $ | 23,462 |  |  | $ | 10,502 |  |  | $ | 9,214 |  |  | $ | 11,882 |  |  | $ | 124,149 |  |  | $ | 105,559 |  |  | $ | 229,708 |
Special mention |  | - |  |  |  | - |  |  |  | 28 |  |  |  | 35 |  |  |  | 73 |  |  |  | 64 |  |  |  | 200 |  |  |  | 3 |  |  |  | 203 |
Substandard |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4 |  |  |  | 4 |  |  |  | - |  |  |  | 4 |
Doubtful |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Loss |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total | $ | 23,600 |  |  | $ | 45,489 |  |  | $ | 23,490 |  |  | $ | 10,537 |  |  | $ | 9,287 |  |  | $ | 11,950 |  |  | $ | 124,353 |  |  | $ | 105,562 |  |  | $ | 229,915 |
Current year-to-date gross write-offs | $ | - |  |  | $ | 55 |  |  | $ | 30 |  |  | $ | 71 |  |  | $ | - |  |  | $ | 2 |  |  | $ | 158 |  |  | $ | - |  |  | $ | 158 |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 149,181 |  |  | $ | 134,289 |  |  | $ | 107,033 |  |  | $ | 71,754 |  |  | $ | 43,846 |  |  | $ | 136,361 |  |  | $ | 642,464 |  |  | $ | 143,120 |  |  | $ | 785,584 |
Special mention |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,337 |  |  |  | 1,337 |  |  |  | - |  |  |  | 1,337 |
Substandard |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Loss |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total | $ | 149,181 |  |  | $ | 134,289 |  |  | $ | 107,033 |  |  | $ | 71,754 |  |  | $ | 43,846 |  |  | $ | 137,698 |  |  | $ | 643,801 |  |  | $ | 143,120 |  |  | $ | 786,921 |
Current year-to-date gross write-offs | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Total Business Loans | $ | 177,796 |  |  | $ | 183,866 |  |  | $ | 133,601 |  |  | $ | 84,079 |  |  | $ | 60,337 |  |  | $ | 168,178 |  |  | $ | 807,857 |  |  | $ | 258,189 |  |  | $ | 1,066,046 |
Retail: | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Term Loans Total |  |  | Revolving Loans |  |  | Grand Total |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 9,775 |  |  | $ | 13,876 |  |  | $ | 6,771 |  |  | $ | 2,849 |  |  | $ | 1,260 |  |  | $ | 1,202 |  |  | $ | 35,733 |  |  | $ | 808 |  |  | $ | 36,541 |
Nonperforming |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Nonaccrual |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total | $ | 9,775 |  |  | $ | 13,876 |  |  | $ | 6,771 |  |  | $ | 2,849 |  |  | $ | 1,260 |  |  | $ | 1,202 |  |  | $ | 35,733 |  |  | $ | 808 |  |  | $ | 36,541 |
Current year-to-date gross write-offs | $ | 8 |  |  | $ | 24 |  |  | $ | 11 |  |  | $ | 28 |  |  | $ | - |  |  | $ | 1 |  |  | $ | 72 |  |  | $ | - |  |  | $ | 72 |
Construction real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 2,507 |  |  | $ | 2,719 |  |  | $ | 552 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 5,778 |  |  | $ | 15,158 |  |  | $ | 20,936 |
Nonperforming |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Nonaccrual |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total | $ | 2,507 |  |  | $ | 2,719 |  |  | $ | 552 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 5,778 |  |  | $ | 15,158 |  |  | $ | 20,936 |
Current year-to-date gross write-offs | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 54,231 |  |  | $ | 64,768 |  |  | $ | 28,301 |  |  | $ | 16,391 |  |  | $ | 12,556 |  |  | $ | 40,270 |  |  | $ | 216,517 |  |  | $ | 49,491 |  |  | $ | 266,008 |
Nonperforming |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Nonaccrual |  | - |  |  |  | 380 |  |  |  | 826 |  |  |  | - |  |  |  | - |  |  |  | 486 |  |  |  | 1,692 |  |  |  | 30 |  |  |  | 1,722 |
Total | $ | 54,231 |  |  | $ | 65,148 |  |  | $ | 29,127 |  |  | $ | 16,391 |  |  | $ | 12,556 |  |  | $ | 40,756 |  |  | $ | 218,209 |  |  | $ | 49,521 |  |  | $ | 267,730 |
Current year-to-date gross write-offs | $ | - |  |  | $ | 26 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 1 |  |  | $ | 27 |  |  | $ | - |  |  | $ | 27 |
Loans to Other Financial Institutions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 19,400 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 19,400 |  |  | $ | - |  |  | $ | 19,400 |
Nonperforming |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Nonaccrual |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total | $ | 19,400 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 19,400 |  |  | $ | - |  |  | $ | 19,400 |
Current year-to-date gross write-offs | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Total Consumer Loans | $ | 85,913 |  |  | $ | 81,743 |  |  | $ | 36,450 |  |  | $ | 19,240 |  |  | $ | 13,816 |  |  | $ | 41,958 |  |  | $ | 279,120 |  |  | $ | 65,487 |  |  | $ | 344,607 |
Schedule of Information Regarding Credit Exposure | Corporate Credit Exposure - Credit risk profile by credit worthiness category
(Dollars in thousands) | Agricultural |  |  | Commercial and Industrial |  |  | Commercial Real Estate |
| December 31, |  |  | December 31, |  |  | December 31, |
| 2022 |  |  | 2022 |  |  | 2022 |
Pass | $ | 63,867 |  |  | $ | 209,700 |  |  | $ | 624,555 |
Special Mention |  | 289 |  |  |  | 400 |  |  |  | 2,048 |
Substandard |  | 3 |  |  |  | 110 |  |  |  | 4,350 |
Doubtful |  | - |  |  |  | - |  |  |  | - |
Loss |  | - |  |  |  | - |  |  |  | - |
| $ | 64,159 |  |  | $ | 210,210 |  |  | $ | 630,953 |
Consumer Credit Exposure - Credit risk profile based on payment activity
(Dollars in thousands) | Consumer |  |  | Construction Real Estate |  |  | Residential Real Estate |
| December 31, |  |  | December 31, |  |  | December 31, |
| 2022 |  |  | 2022 |  |  | 2022 |
Performing | $ | 39,808 |  |  | $ | 14,736 |  |  | $ | 228,653 |
Nonperforming |  | - |  |  |  | - |  |  |  | - |
Nonaccrual |  | - |  |  |  | - |  |  |  | 1,263 |
| $ | 39,808 |  |  | $ | 14,736 |  |  | $ | 229,916 |
Amortized Cost Basis Loans Modified To Borrowers Experiencing On Financing Receivable | The following table presents the amortized cost basis as of December 31, 2023 of the loans modified to borrowers experiencing financial difficulty disaggregated by class of financing receivable and type of concession granted during the reporting period.
For the period ended: | December 31, 2023 |  |
| Term Extension |  |
|  |  |  | % of Total |  |
|  |  |  | Class of |  |
(Dollars in thousands) | Amortized |  |  | Financing |  |
| Cost Basis |  |  | Receivable |  |
Commercial and industrial | $ | 60 |  |  |  | 0 | % |
Residential real estate |  | 129 |  |  |  | 0 | % |
Total | $ | 189 |  |  |  |  |
The following table presents the financial effect by type of modification made to borrowers experiencing financial difficulty and class of financing receivable.
For the period ended: | December 31, 2023 |
| Term Extension |
Commercial and industrial | Termed out line of credit and termed out draw note. |
Residential real estate | Provided with new twelve month payment plan to catch up on past due balance. |
The following table presents the period-end amortized cost basis of financing receivables that had a payment default during the period and were modified in the 12 months before default to borrowers experiencing financial difficulty.
For the period ended: | December 31, 2023 |
(Dollars in thousands) | Term extension |
Commercial and industrial | $ | 60 |
Residential real estate |  | 129 |
Total | $ | 189 |
The following table presents the period-end amortized cost basis of loans that have been modified in the past 12 months to borrowers experiencing financial difficulty by payment status and class of financing receivable.
For the period ended: | December 31, 2023 |
(Dollars in thousands) | Current |  |  | 30-89 days |  |  | Greater than 90 days |  |  | Total |
Commercial and industrial | $ | 60 |  |  | $ | - |  |  | $ | - |  |  | $ | 60 |
Residential real estate |  | - |  |  |  | - |  |  |  | 129 |  |  |  | 129 |
Total | $ | 60 |  |  | $ | - |  |  | $ | 129 |  |  | $ | 189 |
Summary of Trouble Debt Restructurings (TDRs) | The following schedule provides information on loans that were considered troubled debt restructurings ("TDRs") that were modified during the years ended December 31, 2022:
| Year Ended December 31, 2022 |
|  |  |  | Pre- |  |  | Post- |
|  |  |  | Modification |  |  | Modification |
|  |  |  | Outstanding |  |  | Outstanding |
(Dollars in thousands) | Number of |  |  | Recorded |  |  | Recorded |
| Loans |  |  | Investment |  |  | Investment |
Agricultural |  | - |  |  | $ | - |  |  | $ | - |
Commercial and Industrial |  | 1 |  |  |  | 15 |  |  |  | 15 |
Commercial Real Estate |  | - |  |  |  | - |  |  |  | - |
Total |  | 1 |  |  | $ | 15 |  |  | $ | 15 |
Schedule of Loans for Impairment and Interest Recognized on Impaired Loans | 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 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |
With no related allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 250 |  |  | $ | - |
Commercial and industrial |  | - |  |  |  | - |  |  |  | - |  |  |  | 18 |  |  |  | - |
Consumer |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Construction real estate |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial real estate |  | - |  |  |  | - |  |  |  | - |  |  |  | 19 |  |  |  | - |
Residential real estate |  | 550 |  |  |  | 595 |  |  |  | - |  |  |  | 231 |  |  |  | 1 |
Subtotal |  | 550 |  |  |  | 595 |  |  |  | - |  |  |  | 518 |  |  |  | 1 |
With an allowance recorded |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  | 23 |  |  |  | 27 |  |  |  | 2 |  |  |  | 913 |  |  |  | 2 |
Commercial and industrial |  | 177 |  |  |  | 177 |  |  |  | 14 |  |  |  | 209 |  |  |  | 13 |
Consumer |  | 7 |  |  |  | 7 |  |  |  | 1 |  |  |  | 14 |  |  |  | 1 |
Construction real estate |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial real estate |  | 165 |  |  |  | 165 |  |  |  | 5 |  |  |  | 158 |  |  |  | 13 |
Residential real estate |  | 1,924 |  |  |  | 1,954 |  |  |  | 131 |  |  |  | 1,897 |  |  |  | 93 |
Subtotal |  | 2,296 |  |  |  | 2,330 |  |  |  | 153 |  |  |  | 3,191 |  |  |  | 122 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural |  | 23 |  |  |  | 27 |  |  |  | 2 |  |  |  | 1,163 |  |  |  | 2 |
Commercial and industrial |  | 177 |  |  |  | 177 |  |  |  | 14 |  |  |  | 227 |  |  |  | 13 |
Consumer |  | 7 |  |  |  | 7 |  |  |  | 1 |  |  |  | 14 |  |  |  | 1 |
Construction real estate |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial real estate |  | 165 |  |  |  | 165 |  |  |  | 5 |  |  |  | 177 |  |  |  | 13 |
Residential real estate |  | 2,474 |  |  |  | 2,549 |  |  |  | 131 |  |  |  | 2,128 |  |  |  | 94 |
Total | $ | 2,846 |  |  | $ | 2,925 |  |  | $ | 153 |  |  | $ | 3,709 |  |  | $ | 123 |
Aging Analysis of Loans by Loan Category | 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 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 49,210 |  |  | $ | 49,210 |  |  | $ | - |
Commercial and industrial |  | - |  |  |  | - |  |  |  | 1 |  |  |  | 1 |  |  |  | 229,914 |  |  |  | 229,915 |  |  |  | - |
Consumer |  | 31 |  |  |  | 2 |  |  |  | - |  |  |  | 33 |  |  |  | 36,508 |  |  |  | 36,541 |  |  |  | - |
Commercial real estate |  | 173 |  |  |  | - |  |  |  | - |  |  |  | 173 |  |  |  | 786,748 |  |  |  | 786,921 |  |  |  | - |
Construction real estate |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 20,936 |  |  |  | 20,936 |  |  |  | - |
Residential real estate |  | 755 |  |  |  | 549 |  |  |  | 870 |  |  |  | 2,174 |  |  |  | 265,556 |  |  |  | 267,730 |  |  |  | - |
Loans to other financial institutions |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 19,400 |  |  |  | 19,400 |  |  |  | - |
| $ | 959 |  |  | $ | 551 |  |  | $ | 871 |  |  | $ | 2,381 |  |  | $ | 1,408,272 |  |  | $ | 1,410,653 |  |  | $ | - |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agricultural | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 64,159 |  |  | $ | 64,159 |  |  | $ | - |
Commercial and industrial |  | - |  |  |  | 171 |  |  |  | - |  |  |  | 171 |  |  |  | 210,039 |  |  |  | 210,210 |  |  |  | - |
Consumer |  | 39 |  |  |  | 7 |  |  |  | - |  |  |  | 46 |  |  |  | 39,762 |  |  |  | 39,808 |  |  |  | - |
Commercial real estate |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 630,953 |  |  |  | 630,953 |  |  |  | - |
Construction real estate |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 14,736 |  |  |  | 14,736 |  |  |  | - |
Residential real estate |  | 682 |  |  |  | - |  |  |  | 842 |  |  |  | 1,524 |  |  |  | 228,392 |  |  |  | 229,916 |  |  |  | - |
Loans to other financial institutions |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
| $ | 721 |  |  | $ | 178 |  |  | $ | 842 |  |  | $ | 1,741 |  |  | $ | 1,188,041 |  |  | $ | 1,189,782 |  |  | $ | - |
(1) Includes nonaccrual loans
Nonaccrual Loans by Loan Category | Nonaccrual loans by loan category as of December 31 as follows:
(Dollars in thousands) |  |  |  |  |
| 2023 |  |  | 2022 |
Commercial and industrial | $ | 1 |  |  | $ | - |
Residential real estate |  | 1,722 |  |  |  | 1,263 |
Total nonaccrual loans | $ | 1,723 |  |  | $ | 1,263 |
(Dollars in thousands) | Nonaccrual loans with no ACL |  |  | Total nonaccrual loans |  |  | Interest income recognized during the period on nonaccrual loans |
Commercial and industrial | $ | - |  |  | $ | 1 |  |  | $ | - |
Residential real estate |  | 707 |  |  |  | 1,722 |  |  |  | 16 |
Total nonaccrual loans | $ | 707 |  |  | $ | 1,723 |  |  | $ | 16 |

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