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Loans and Allowance for Loan Losses | 6 Months Ended
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Jun. 30, 2019
Loans and Allowance for Loan Losses [Abstract] |
Loans and Allowance for Loan Losses |
Note 5: | Loans and Allowance for Loan Losses
A summary of loans at June 30, 2019 and December 31, 2018, are as follows (dollars in thousands):
|  | June 30, 2019 |  |  | December 31, 2018 |
Construction & development |  | $ | 83,291 |  |  | $ | 87,267 |
1-4 family commercial |  |  | 36,165 |  |  |  | 33,278 |
Commercial real estate - other |  |  | 188,142 |  |  |  | 156,396 |
Total commercial real estate |  |  | 307,598 |  |  |  | 276,941 |
Commercial & industrial |  |  | 256,100 |  |  |  | 248,394 |
Agricultural |  |  | 56,167 |  |  |  | 62,844 |
Consumer |  |  | 13,093 |  |  |  | 13,723 |
Gross loans |  |  | 632,958 |  |  |  | 601,902 |
Less allowance for loan losses |  |  | (7,836 | ) |  |  | (7,832 | )
Less deferred loan fees |  |  | (1,508 | ) |  |  | (1,992 | )
Net loans |  | $ | 623,614 |  |  | $ | 592,078 |
The following table presents, by portfolio segment, the activity in the allowance for loan losses for the three months ended June 30, 2019 and 2018 (dollars in thousands):
|  | Construction & Development |  |  | 1 - 4 Family Commercial |  |  | Commercial Real Estate - Other |  |  | Commercial & Industrial |  |  | Agricultural |  |  | Consumer |  |  | Total |
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 1,290 |  |  | $ | 452 |  |  | $ | 2,087 |  |  | $ | 3,068 |  |  | $ | 760 |  |  | $ | 178 |  |  | $ | 7,835 |
Charge-offs |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (10 | ) |  |  | - |  |  |  | (10 | )
Recoveries |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | 7 |  |  |  | 3 |  |  |  | - |  |  |  | 11 |
Net recoveries |  |  | - |  |  |  | 1 |  |  |  |  |  |  |  | 7 |  |  |  | (7 | ) |  |  | - |  |  |  | 1 |
Provision (credit) for loan losses |  |  | (259 | ) |  |  | (5 | ) |  |  | 242 |  |  |  | 96 |  |  |  | (58 | ) |  |  | (16 | ) |  |  | - |
Balance, end of period |  | $ | 1,031 |  |  | $ | 448 |  |  | $ | 2,329 |  |  | $ | 3,171 |  |  | $ | 695 |  |  | $ | 162 |  |  | $ | 7,836 |
|  | Construction & Development |  |  | 1 - 4 Family Commercial |  |  | Commercial Real Estate - Other |  |  | Commercial & Industrial |  |  | Agricultural |  |  | Consumer |  |  | Total |
June 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 1,465 |  |  | $ | 497 |  |  | $ | 1,556 |  |  | $ | 3,108 |  |  | $ | 872 |  |  | $ | 201 |  |  | $ | 7,699 |
Charge-offs |  |  | - |  |  |  | (25 | ) |  |  | - |  |  |  | (6 | ) |  |  | - |  |  |  | - |  |  |  | (31 | )
Recoveries |  |  | - |  |  |  | 2 |  |  |  | 2 |  |  |  | 29 |  |  |  | - |  |  |  | 1 |  |  |  | 34 |
Net recoveries |  |  | - |  |  |  | (23 | ) |  |  | 2 |  |  |  | 23 |  |  |  | - |  |  |  | 1 |  |  |  | 3 |
Provision (credit) for loan losses |  |  | (182 | ) |  |  | (39 | ) |  |  | 414 |  |  |  | (118 | ) |  |  | (64 | ) |  |  | (11 | ) |  |  | - |
Balance, end of period |  | $ | 1,283 |  |  | $ | 435 |  |  | $ | 1,972 |  |  | $ | 3,013 |  |  | $ | 808 |  |  | $ | 191 |  |  | $ | 7,702 |
The following table presents, by portfolio segment, the activity in the allowance for loan losses for the six months ended June 30, 2019 and 2018 (dollars in thousands):
|  | Construction & Development |  |  | 1 - 4 Family Commercial |  |  | Commercial Real Estate - Other |  |  | Commercial & Industrial |  |  | Agricultural |  |  | Consumer |  |  | Total |
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 1,136 |  |  | $ | 433 |  |  | $ | 2,035 |  |  | $ | 3,231 |  |  | $ | 818 |  |  | $ | 179 |  |  | $ | 7,832 |
Charge-offs |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (4 | ) |  |  | (10 | ) |  |  | - |  |  |  | (14 | )
Recoveries |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | 13 |  |  |  | 3 |  |  |  | - |  |  |  | 18 |
Net charge-offs |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | 9 |  |  |  | (7 | ) |  |  | - |  |  |  | 4 |
Provision (credit) for loan losses |  |  | (105 | ) |  |  | 13 |  |  |  | 294 |  |  |  | (69 | ) |  |  | (116 | ) |  |  | (17 | ) |  |  | - |
Balance, end of period |  | $ | 1,031 |  |  | $ | 448 |  |  | $ | 2,329 |  |  | $ | 3,171 |  |  | $ | 695 |  |  | $ | 162 |  |  | $ | 7,836 |
|  | Construction & Development |  |  | 1 - 4 Family Commercial |  |  | Commercial Real Estate - Other |  |  | Commercial & Industrial |  |  | Agricultural |  |  | Consumer |  |  | Total |
June 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 1,407 |  |  | $ | 431 |  |  | $ | 1,865 |  |  | $ | 2,779 |  |  | $ | 1,015 |  |  | $ | 157 |  |  | $ | 7,654 |
Charge-offs |  |  | - |  |  |  | (25 | ) |  |  | - |  |  |  | (61 | ) |  |  | - |  |  |  | - |  |  |  | (86 | )
Recoveries |  |  | - |  |  |  | 2 |  |  |  | 2 |  |  |  | 29 |  |  |  | - |  |  |  | 1 |  |  |  | 34 |
Net charge-offs |  |  | - |  |  |  | (23 | ) |  |  | 2 |  |  |  | (32 | ) |  |  | - |  |  |  | 1 |  |  |  | (52 | )
Provision (credit) for loan losses |  |  | (124 | ) |  |  | 27 |  |  |  | 105 |  |  |  | 266 |  |  |  | (207 | ) |  |  | 33 |  |  |  | 100 |
Balance, end of period |  | $ | 1,283 |  |  | $ | 435 |  |  | $ | 1,972 |  |  | $ | 3,013 |  |  | $ | 808 |  |  | $ | 191 |  |  | $ | 7,702 |
The following table presents, by portfolio segment, the balance in allowance for loan losses and the gross loans based upon portfolio segment and impairment method as of June 30, 2019 and December 31, 2018 (dollars in thousands):
|  | Construction & Development |  |  | 1 - 4 Family Commercial |  |  | Commercial Real Estate - Other |  |  | Commercial & Industrial |  |  | Agricultural |  |  | Consumer |  |  | Total |
June 30, 2019 Allowance Balance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance Individually evaluated for impairment |  | $ | - |  |  | $ | 3 |  |  | $ | 32 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 35 |
Collectively evaluated for impairment |  |  | 1,031 |  |  |  | 445 |  |  |  | 2,297 |  |  |  | 3,171 |  |  |  | 695 |  |  |  | 162 |  |  |  | 7,801 |
Total |  | $ | 1,031 |  |  | $ | 448 |  |  | $ | 2,329 |  |  | $ | 3,171 |  |  | $ | 695 |  |  | $ | 162 |  |  | $ | 7,836 |
Gross Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance Individually evaluated for impairment |  | $ | - |  |  | $ | 8 |  |  | $ | 1,911 |  |  | $ | 5,309 |  |  | $ | 2,641 |  |  | $ | - |  |  | $ | 9,869 |
Collectively evaluated for impairment |  |  | 83,291 |  |  |  | 36,157 |  |  |  | 186,231 |  |  |  | 250,791 |  |  |  | 53,526 |  |  |  | 13,093 |  |  |  | 623,089 |
Total |  | $ | 83,291 |  |  | $ | 36,165 |  |  | $ | 188,142 |  |  | $ | 256,100 |  |  | $ | 56,167 |  |  | $ | 13,093 |  |  | $ | 632,958 |
December 31, 2018 Allowance Balance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance Individually evaluated for impairment |  | $ | - |  |  | $ | - |  |  | $ | 32 |  |  | $ | 14 |  |  | $ | - |  |  | $ | - |  |  | $ | 46 |
Collectively evaluated for impairment |  |  | 1,136 |  |  |  | 433 |  |  |  | 2,003 |  |  |  | 3,217 |  |  |  | 818 |  |  |  | 179 |  |  |  | 7,786 |
Total |  | $ | 1,136 |  |  | $ | 433 |  |  | $ | 2,035 |  |  | $ | 3,231 |  |  | $ | 818 |  |  | $ | 179 |  |  | $ | 7,832 |
Gross Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance Individually evaluated for impairment |  | $ | - |  |  | $ | 115 |  |  | $ | 484 |  |  | $ | 7,381 |  |  | $ | 1,097 |  |  | $ | - |  |  | $ | 9,077 |
Collectively evaluated for impairment |  |  | 87,267 |  |  |  | 33,163 |  |  |  | 155,912 |  |  |  | 241,013 |  |  |  | 61,747 |  |  |  | 13,723 |  |  |  | 592,825 |
Total |  | $ | 87,267 |  |  | $ | 33,278 |  |  | $ | 156,396 |  |  | $ | 248,394 |  |  | $ | 62,844 |  |  | $ | 13,723 |  |  | $ | 601,902 |
Internal Risk Categories Certain loan segments were reclassified during 2018. Each loan segment is made up of loan categories possessing similar risk characteristics. The Company’s re-alignment of the segments primarily consisted of reclassifying consumer-related and agricultural-related real estate loans from the real estate category to the consumer and agricultural categories, respectively. Management believes this accurately represents the risk profile of each loan segment. In addition, the real estate segment was renamed to commercial real estate, and the commercial segment was renamed to commercial & industrial. The prior period amounts have been revised to conform to the current period presentation. These reclassifications did not have a significant impact on the allowance for loan losses. Risk characteristics applicable to each segment of the loan portfolio are described as follows: Real Estate – The real estate portfolio consists of residential and commercial properties. Residential loans are generally secured by owner occupied 1–4 family residences. Repayment of these loans is primarily dependent on the personal income and credit rating of the borrowers. Credit risk in these loans can be impacted by economic conditions within the Company’s market areas that might impact either property values or a borrower’s personal income. Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers. Commercial real estate loans in this category typically involve larger principal amounts and are repaid primarily from the cash flow of a borrower’s principal business operation, the sale of the real estate or income independent of the loan purpose. Credit risk in these loans is driven by the creditworthiness of a borrower, property values, the local economy and other economic conditions impacting a borrower’s business or personal income. Commercial & Industrial – The commercial portfolio includes loans to commercial customers for use in financing working capital needs, equipment purchases and expansions. The loans in this category are repaid primarily from the cash flow of a borrower’s principal business operation. Credit risk in these loans is driven by creditworthiness of a borrower and the economic conditions that impact the cash flow stability from business operations. Agricultural – Loans secured by agricultural assets are generally made for the purpose of acquiring land devoted to crop production, cattle or poultry or the operation of a similar type of business on the secured property. Sources of repayment for these loans generally include income generated from operations of a business on the property, rental income or sales of the property. Credit risk in these loans may be impacted by crop and commodity prices, the creditworthiness of a borrower, and changes in economic conditions which might affect underlying property values and the local economies in the Company’s market areas. Consumer – The consumer loan portfolio consists of various term and line of credit loans such as automobile loans and loans for other personal purposes. Repayment for these types of loans will come from a borrower’s income sources that are typically independent of the loan purpose. Credit risk is driven by consumer economic factors, such as unemployment and general economic conditions in the Company’s market area and the creditworthiness of a borrower. Loan grades are numbered 1 through 4. Grade 1 is considered satisfactory. The grades of 2 and 3, or Watch and Special Mention, respectively, represent loans of lower quality and are considered criticized. Grade of 4, or Substandard, refers to loans that are classified.
| • | Grade 1 (Pass) – These loans generally conform to Bank policies, and are characterized by policy conforming advance rates on collateral, and have well-defined repayment sources. In addition, these credits are extended to Borrowers and/or Guarantors with a strong balance sheet and either substantial liquidity or a reliable income history.
| • | Grade 2 (Watch) – These loans are still considered “Pass” credits; however, various factors such as industry stress, material changes in cash flow or financial conditions, or deficiencies in loan documentation, or other risk issues determined by the Lending Officer, Commercial Loan Committee (CLC), or Credit Quality Committee (CQC) warrant a heightened sense and frequency of monitoring.
| • | Grade 3 (Special Mention) – These loans must have observable weaknesses or evidence imprudent handling or structural issues. The weaknesses require close attention and the remediation of those weaknesses is necessary. No risk of probable loss exists. Credits in this category are expected to quickly migrate to a “2” or a “4” as this is viewed as a transitory loan grade.
| • | Grade 4 (Substandard) – These loans are not adequately protected by the sound worth and debt service capacity of the Borrower, but may be well secured. They have defined weaknesses relative to cash flow, collateral, financial condition, or other factors that might jeopardize repayment of all of the principal and interest on a timely basis. There is the possibility that a future loss will occur if weaknesses are not remediated.
The Company evaluates the definitions of loan grades and the allowance for loan losses methodology on an ongoing basis. No changes were made to either during period ended June 30, 2019. The following table presents the credit risk profile of the Company’s loan portfolio based on internal rating category as of June 30, 2019 and December 31, 2018 (dollars in thousands):
|  | Construction & Development |  |  | 1 - 4 Family Commercial |  |  | Commercial Real Estate - Other |  |  | Commercial & Industrial |  |  | Agricultural |  |  | Consumer |  |  | Total |
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 (Pass) |  | $ | 81,053 |  |  | $ | 35,463 |  |  | $ | 182,645 |  |  | $ | 216,425 |  |  | $ | 51,287 |  |  | $ | 13,093 |  |  | $ | 579,966 |
2 (Watch) |  |  | 2,238 |  |  |  | 694 |  |  |  | 1,510 |  |  |  | 33,489 |  |  |  | 110 |  |  |  | - |  |  |  | 38,041 |
3 (Special Mention) |  |  | - |  |  |  | - |  |  |  | 2,076 |  |  |  | 877 |  |  |  | 2,129 |  |  |  | - |  |  |  | 5,082 |
4 (Substandard) |  |  | - |  |  |  | 8 |  |  |  | 1,911 |  |  |  | 5,309 |  |  |  | 2,641 |  |  |  | - |  |  |  | 9,869 |
Total |  | $ | 83,291 |  |  | $ | 36,165 |  |  | $ | 188,142 |  |  | $ | 256,100 |  |  | $ | 56,167 |  |  | $ | 13,093 |  |  | $ | 632,958 |
|  | Construction & Development |  |  | 1 - 4 Family Commercial |  |  | Commercial Real Estate - Other |  |  | Commercial & Industrial |  |  | Agricultural |  |  | Consumer |  |  | Total |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 (Pass) |  | $ | 84,485 |  |  | $ | 29,942 |  |  | $ | 154,353 |  |  | $ | 204,671 |  |  | $ | 57,782 |  |  | $ | 13,723 |  |  | $ | 544,956 |
2 (Watch) |  |  | 2,782 |  |  |  | 3,221 |  |  |  | 1,559 |  |  |  | 36,342 |  |  |  | 758 |  |  |  | - |  |  |  | 44,662 |
3 (Special Mention) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,207 |  |  |  | - |  |  |  | 3,207 |
4 (Substandard) |  |  | - |  |  |  | 115 |  |  |  | 484 |  |  |  | 7,381 |  |  |  | 1,097 |  |  |  | - |  |  |  | 9,077 |
Total |  | $ | 87,267 |  |  | $ | 33,278 |  |  | $ | 156,396 |  |  | $ | 248,394 |  |  | $ | 62,844 |  |  | $ | 13,723 |  |  | $ | 601,902 |
The following table presents the Company’s loan portfolio aging analysis of the recorded investment in loans as of June 30, 2019 and December 31, 2018 (dollars in thousands):
|  | Past Due |  |  |  |  |  |  |  |  | Total Loans |
|  | 30–59 Days |  |  | 60–89 Days |  |  | Greater than 90 Days |  |  | Total |  |  | Current |  |  | Total Loans |  |  | > 90 Days & Accruing |
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction & development |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 83,291 |  |  | $ | 83,291 |  |  | $ | - |
1 - 4 Family Real Estate |  |  | 69 |  |  |  | - |  |  |  | 8 |  |  |  | 77 |  |  |  | 36,088 |  |  |  | 36,165 |  |  |  | - |
Commercial Real Estate - other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 188,142 |  |  |  | 188,142 |  |  |  | - |
Commercial & industrial |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 256,100 |  |  |  | 256,100 |  |  |  | - |
Agricultural |  |  | 541 |  |  |  | - |  |  |  | 1,097 |  |  |  | 1,638 |  |  |  | 54,529 |  |  |  | 56,167 |  |  |  | 1,097 |
Consumer |  |  | 99 |  |  |  | - |  |  |  | - |  |  |  | 99 |  |  |  | 12,994 |  |  |  | 13,093 |  |  |  | - |
Total |  | $ | 709 |  |  | $ | - |  |  | $ | 1,105 |  |  | $ | 1,814 |  |  | $ | 631,144 |  |  | $ | 632,958 |  |  | $ | 1,097 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction & development |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 87,267 |  |  | $ | 87,267 |  |  | $ | - |
1 - 4 Family Real Estate |  |  | 8 |  |  |  | - |  |  |  | - |  |  |  | 8 |  |  |  | 33,270 |  |  |  | 33,278 |  |  |  | - |
Commercial Real Estate - other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 156,396 |  |  |  | 156,396 |  |  |  | - |
Commercial & industrial |  |  | - |  |  |  | 5 |  |  |  | - |  |  |  | 5 |  |  |  | 248,389 |  |  |  | 248,394 |  |  |  | - |
Agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 62,844 |  |  |  | 62,844 |  |  |  | - |
Consumer |  |  | 41 |  |  |  | - |  |  |  | - |  |  |  | 41 |  |  |  | 13,682 |  |  |  | 13,723 |  |  |  | - |
Total |  | $ | 49 |  |  | $ | 5 |  |  | $ | - |  |  | $ | 54 |  |  | $ | 601,848 |  |  | $ | 601,902 |  |  | $ | - |
The following table presents impaired loans as of June 30, 2019 and December 31, 2018 (dollars in thousands):
|  | Unpaid Principal Balance |  |  | Recorded Investment with No Allowance |  |  | Recorded Investment with an Allowance |  |  | Total Recorded Investment |  |  | Related Allowance |  |  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Three Months Ended June 30, 2019 |  |  | Six Months Ended June 30, 2019 |
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction & development |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
1 - 4 Family Real Estate |  |  | 8 |  |  |  | - |  |  |  | 8 |  |  |  | 8 |  |  |  | 3 |  |  |  | 713 |  |  |  | - |  |  |  | 414 |  |  |  | - |
Commercial Real Estate - other |  |  | 1,911 |  |  |  | - |  |  |  | 1,911 |  |  |  | 1,911 |  |  |  | 32 |  |  |  | 1,335 |  |  |  | 33 |  |  |  | 1,147 |  |  |  | 66 |
Commercial & industrial |  |  | 5,309 |  |  |  | 5,309 |  |  |  | - |  |  |  | 5,309 |  |  |  | - |  |  |  | 5,290 |  |  |  | 55 |  |  |  | 5,940 |  |  |  | 178 |
Agricultural |  |  | 2,641 |  |  |  | 2,641 |  |  |  | - |  |  |  | 2,641 |  |  |  | - |  |  |  | 2,548 |  |  |  | 48 |  |  |  | 2,190 |  |  |  | 105 |
Consumer |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 193 |  |  |  | - |  |  |  | 193 |  |  |  | - |
Total |  | $ | 9,869 |  |  | $ | 7,950 |  |  | $ | 1,919 |  |  | $ | 9,869 |  |  | $ | 35 |  |  | $ | 10,079 |  |  | $ | 136 |  |  | $ | 9,884 |  |  | $ | 349 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Three Months Ended June 30, 2018 |  |  | Six Months Ended June 30, 2018 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction & development |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
1 - 4 Family Real Estate |  |  | 115 |  |  |  | 115 |  |  |  | - |  |  |  | 115 |  |  |  | - |  |  |  | 71 |  |  |  | 8 |  |  |  | 90 |  |  |  | - |
Commercial Real Estate - other |  |  | 1,990 |  |  |  | 1,506 |  |  |  | 484 |  |  |  | 1,990 |  |  |  | 32 |  |  |  | 414 |  |  |  | 144 |  |  |  | 500 |  |  |  | 18 |
Commercial & industrial |  |  | 7,614 |  |  |  | 7,359 |  |  |  | 22 |  |  |  | 7,381 |  |  |  | 14 |  |  |  | 8,880 |  |  |  | 7 |  |  |  | 6,207 |  |  |  | 284 |
Agricultural |  |  | 1,097 |  |  |  | 1,097 |  |  |  | - |  |  |  | 1,097 |  |  |  | - |  |  |  | 1,497 |  |  |  | - |  |  |  | 1,529 |  |  |  | 40 |
Consumer |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 41 |  |  |  | - |  |  |  | 37 |  |  |  | - |
Total |  | $ | 10,821 |  |  | $ | 10,077 |  |  | $ | 506 |  |  | $ | 10,583 |  |  | $ | 46 |  |  | $ | 10,903 |  |  | $ | 159 |  |  | $ | 8,363 |  |  | $ | 342 |
Impaired loans include nonperforming loans and also include loans modified in troubled-debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. Included in certain loan categories in the impaired loans are troubled debt restructurings that were classified as impaired. At June 30, 2019, the Company had $321,000 of commercial loans, $1,911,000 of commercial real estate loans, and $674,000 of agricultural loans that were modified in troubled-debt restructurings and impaired and $501,000 in commercial loan modifications as of December 31, 2018. There were $2.9 million in newly modified troubled-debt restructurings during the six month period ended June 30, 2019, consisting of $1.9 million of commercial real estate loans, and $1.0 million of agricultural loans, and no newly modified troubled-debt restructurings during the three month period ended June 30, 2019. There were no newly modified TDRs during the year ended December 31, 2018. The modification of the terms of the TDR loans included one or a combination of the following: a reduction of the stated interest rate of the loan; or an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk. These modifications did not result in any increase or decrease to the allowance for loan losses for the period ending June 30, 2019, primarily due to collateral support provided by the secondary source of repayment and/or the ability of the borrower to service restructured payments. These TDRs resulted in no charge offs during the period ended June 30, 2019. There were no troubled-debt restructurings modified in the past three months that subsequently defaulted for the period ended June 30, 2019. The following table represents information regarding nonperforming assets at June 30, 2019 and December 31, 2018 (dollars in thousands):
|  | As of |
|  | June 30, 2019 |  |  | December 31, 2018 |
Nonaccrual loans |  | $ | 2,240 |  |  | $ | 2,615 |
Troubled-debt restructurings (1) |  |  | 674 |  |  |  | - |
Accruing loans 90 or more days past due |  |  | 1,097 |  |  |  | - |
Total nonperforming loans |  | $ | 4,011 |  |  | $ | 2,615 |
| (1) | $2.2 million and $501,000 of TDRs as of June 30, 2019 and December 31, 2018, respectively, are included in the nonaccrual loans balance in the line above

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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