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Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Outstanding loans

Outstanding loans are summarized as follows:

Loan Type (Dollars in thousands)		March 31, 2019				% of Total Loans			December 31, 2018				% of Total Loans
Commercial:
Commercial and industrial		$	96,700			10.5	%		$	101,533			11.1	%
Agricultural production		11,260				1.2	%		7,998				0.9	%
Total commercial		107,960				11.7	%		109,531				12.0	%
Real estate:
Owner occupied		188,901				20.5	%		183,169				19.9	%
Real estate construction and other land loans		98,352				10.7	%		101,606				11.1	%
Commercial real estate		308,099				33.4	%		305,118				33.2	%
Agricultural real estate		70,589				7.7	%		76,884				8.4	%
Other real estate		33,804				3.8	%		32,799				3.6	%
Total real estate		699,745				76.1	%		699,576				76.2	%
Consumer:
Equity loans and lines of credit		72,686				7.9	%		69,958				7.6	%
Consumer and installment		39,665				4.3	%		38,038				4.2	%
Total consumer		112,351				12.2	%		107,996				11.8	%
Net deferred origination costs		1,754							1,592
Total gross loans		921,810				100.0	%		918,695				100.0	%
Allowance for credit losses		(9,118		)					(9,104		)
Total loans		$	912,692						$	909,591

Impaired loans

The following table shows information related to impaired loans by class at March 31, 2019 (in thousands):

		Recorded Investment				Unpaid Principal Balance				Related Allowance
With no related allowance recorded:
Commercial:
Commercial and industrial		$	235			$	478			$	—
Real estate:
Owner occupied		$	211			$	213			$	—
Real estate construction and other land loans		1,099				1,099				—
Commercial real estate		1,160				1,398				—
Total real estate		2,470				2,710				—
Consumer:
Equity loans and lines of credit		48				70				—
Total with no related allowance recorded		2,753				3,258				—
With an allowance recorded:
Commercial:
Commercial and industrial		79				81				20
Real estate:
Commercial real estate		703				723				30
Agricultural real estate		44				44				—
Total real estate		747				767				30
Consumer:
Equity loans and lines of credit		1,104				1,110				51
Total with an allowance recorded		1,930				1,958				101
Total		$	4,683			$	5,216			$	101

The recorded investment in loans excludes accrued interest receivable and net loan origination fees, due to immateriality.

The following table shows information related to impaired loans by class at December 31, 2018 (in thousands):

		Recorded Investment				Unpaid Principal Balance				Related Allowance
With no related allowance recorded:
Commercial:
Commercial and industrial		$	259			$	493			$	—
Real estate:
Owner occupied		215				215				—
Real estate construction and other land loans		2,613				2,676				—
Commercial real estate		1,182				1,414				—
Total real estate		4,010				4,305				—
Consumer:
Equity loans and lines of credit		248				285				—
Total with no related allowance recorded		4,517				5,083				—
With an allowance recorded:
Commercial:
Commercial and industrial		89				90				9
Real estate:
Commercial real estate		161				162				27
Agricultural real estate		44				44				—
Total real estate		205				206				27
Consumer:
Equity loans and lines of credit		1,098				1,103				54
Total with an allowance recorded		1,392				1,399				90
Total		$	5,909			$	6,482			$	90

The recorded investment in loans excludes accrued interest receivable and net loan origination fees, due to immateriality.

The following tables present by class, information related to the average recorded investment and interest income recognized on impaired loans for the three months ended March 31, 2019 and 2018 (in thousands).

		Three Months Ended March 31, 2019								Three Months Ended March 31, 2018
		Average Recorded Investment				Interest Income Recognized				Average Recorded Investment				Interest Income Recognized
With no related allowance recorded:
Commercial:
Commercial and industrial		$	249			$	—			$	348			$	—
Real estate:
Owner occupied		213				—				—				—
Real estate construction and other land loans		2,217				16				2,988				23
Commercial real estate		1,171				12				1,560				13
Other real estate		—				—				874				—
Total real estate		3,601				28				5,422				36
Consumer:
Equity loans and lines of credit		196				1				195				—
Total with no related allowance recorded		4,046				29				5,965				36
With an allowance recorded:
Commercial:
Commercial and industrial		84				1				49				1
Real estate:
Commercial real estate		572				3				282				3
Agricultural real estate		44				1				51				1
Total real estate		616				4				333				4
Consumer:
Equity loans and lines of credit		1,105				14				994				14
Consumer and installment		—				—				8				—
Total consumer		1,105				14				1,002				14
Total with an allowance recorded		1,805				19				1,384				19
Total		$	5,851			$	48			$	7,349			$	55

Allowance for credit losses

The following table shows the summary of activities for the Allowance as of and for the three months ended March 31, 2019 and 2018 by portfolio segment (in thousands):

		Commercial				Real Estate				Consumer				Unallocated				Total
Allowance for credit losses:
Beginning balance, January 1, 2019		$	1,671			$	6,539			$	826			$	68			$	9,104
(Reversal) provision charged to operations		(252		)		170				61				(4		)		(25		)
Losses charged to allowance		—				—				(9		)		—				(9		)
Recoveries		31				—				17				—				48
Ending balance, March 31, 2019		$	1,450			$	6,709			$	895			$	64			$	9,118
Allowance for credit losses:
Beginning balance, January 1, 2018		$	2,071			$	5,795			$	825			$	87			$	8,778
(Reversal) provision charged to operations		(356		)		331				3				22				—
Losses charged to allowance		(50		)		—				(42		)		—				(92		)
Recoveries		71				5				26				—				102
Ending balance, March 31, 2018		$	1,736			$	6,131			$	812			$	109			$	8,788

The following is a summary of the Allowance by impairment methodology and portfolio segment as of March 31, 2019 and December 31, 2018 (in thousands):

		Commercial				Real Estate				Consumer				Unallocated				Total
Allowance for credit losses:
Ending balance, March 31, 2019		$	1,450			$	6,709			$	895			$	64			$	9,118
Ending balance: individually evaluated for impairment		$	20			$	30			$	51			$	—			$	101
Ending balance: collectively evaluated for impairment		$	1,430			$	6,679			$	844			$	64			$	9,017
Ending balance, December 31, 2018		$	1,671			$	6,539			$	826			$	68			$	9,104
Ending balance: individually evaluated for impairment		$	9			$	27			$	54			$	—			$	90
Ending balance: collectively evaluated for impairment		$	1,662			$	6,512			$	772			$	68			$	9,014

Schedule of receivable by impairment methodology

		Commercial				Real Estate				Consumer				Total
Loans:
Ending balance, March 31, 2019		$	107,960			$	699,745			$	112,351			$	920,056
Ending balance: individually evaluated for impairment		$	314			$	3,217			$	1,152			$	4,683
Ending balance: collectively evaluated for impairment		$	107,646			$	696,528			$	111,199			$	915,373
Loans:
Ending balance, December 31, 2018		$	109,531			$	699,576			$	107,996			$	917,103
Ending balance: individually evaluated for impairment		$	348			$	4,215			$	1,346			$	5,909
Ending balance: collectively evaluated for impairment		$	109,183			$	695,361			$	106,650			$	911,194

Loan portfolio by internal risk rating

The following table shows the loan portfolio by class allocated by management’s internal risk ratings at March 31, 2019 (in thousands):

		Pass				Special Mention				Sub-Standard				Doubtful				Total
Commercial:
Commercial and industrial		$	93,977			$	510			$	2,213			$	—			$	96,700
Agricultural production		7,509				2,946				805				—				11,260
Real Estate:
Owner occupied		184,609				2,611				1,681				—				188,901
Real estate construction and other land loans		94,313				2,449				1,590				—				98,352
Commercial real estate		302,927				4,064				1,108				—				308,099
Agricultural real estate		50,860				13,279				6,450				—				70,589
Other real estate		33,804				—				—				—				33,804
Consumer:
Equity loans and lines of credit		67,815				1,967				2,904				—				72,686
Consumer and installment		39,663				—				2				—				39,665
Total		$	875,477			$	27,826			$	16,753			$	—			$	920,056

The following table shows the loan portfolio by class allocated by management’s internally assigned risk grade ratings at December 31, 2018 (in thousands):

		Pass				Special Mention				Sub-Standard				Doubtful				Total
Commercial:
Commercial and industrial		$	86,876			$	12,072			$	2,585			$	—			$	101,533
Agricultural production		5,955				2,043				—				—				7,998
Real Estate:
Owner occupied		179,214				3,056				899				—				183,169
Real estate construction and other land loans		95,301				3,270				3,035				—				101,606
Commercial real estate		298,714				5,268				1,136				—				305,118
Agricultural real estate		57,544				165				19,175				—				76,884
Other real estate		32,799				—				—				—				32,799
Consumer:
Equity loans and lines of credit		68,016				380				1,562				—				69,958
Consumer and installment		38,036				—				2				—				38,038
Total		$	862,455			$	26,254			$	28,394			$	—			$	917,103

Loan portfolio by time past due

The following table shows an aging analysis of the loan portfolio by class and the time past due at March 31, 2019 (in thousands):

		30-59 Days Past Due				60-89 Days Past Due				Greater Than 90 Days Past Due				Total Past Due				Current				Total Loans				Recorded Investment > 90 Days Accruing				Non-accrual
Commercial:
Commercial and industrial		$	100			$	—			$	—			$	100			$	96,600			$	96,700			$	—			$	269
Agricultural production		—				—				—				—				11,260				11,260				—				—
Real estate:		—																—
Owner occupied		129				—				—				129				188,772				188,901				—				210
Real estate construction and other land loans		—				—				—				—				98,352				98,352				—				—
Commercial real estate		—				—				—				—				308,099				308,099				—				950
Agricultural real estate		—				—				—				—				70,589				70,589				—				—
Other real estate		—				—				—				—				33,804				33,804				—				—
Consumer:																		—
Equity loans and lines of credit		1,932				—				—				1,932				70,754				72,686				—				119
Consumer and installment		45				—				—				45				39,620				39,665				—				—
Total		$	2,206			$	—			$	—			$	2,206			$	917,850			$	920,056			$	—			$	1,548

The following table shows an aging analysis of the loan portfolio by class and the time past due at December 31, 2018 (in thousands):

		30-59 Days Past Due				60-89 Days Past Due				Greater Than 90 Days Past Due				Total Past Due				Current				Total Loans				Recorded Investment > 90 Days Accruing				Non- accrual
Commercial:
Commercial and industrial		$	255			$	—			$	—			$	255			$	101,278			$	101,533			$	—			$	298
Agricultural production		—				—				—				—				7,998				7,998				—				—
Real estate:		—
Owner occupied		215				—				—				215				182,954				183,169				—				215
Real estate construction and other land loans		—				—				1,439				1,439				100,167				101,606				—				1,439
Commercial real estate		—				—				—				—				305,118				305,118				—				418
Agricultural real estate		—				—				—				—				76,884				76,884				—				—
Other real estate		—				—				—				—				32,799				32,799				—				—
Consumer:
Equity loans and lines of credit		953				—				—				953				69,005				69,958				—				370
Consumer and installment		7				—				—				7				38,031				38,038				—				—
Total		$	1,430			$	—			$	1,439			$	2,869			$	914,234			$	917,103			$	—			$	2,740

Troubled debt restructurings

The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended March 31, 2019 (in thousands):

Troubled Debt Restructurings:		Number of Loans			Pre-Modification Outstanding Recorded Investment (1)				Principal Modification (2)				Post Modification Outstanding Recorded Investment (3)				Outstanding Recorded Investment
Consumer:
Equity loans and lines of credit		1			$	13			$	—			$	13			$	13
Total		1			$	13			$	—			$	13			$	13

(1) Amounts represent the recorded investment in loans before recognizing effects of the TDR, if any.

(2) Principal Modification includes principal forgiveness at the time of modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with zero percent contractual interest rate.

(3) Balance outstanding after principal modification, if any borrower reduction to recorded investment.

The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended March 31, 2018 (in thousands):

Troubled Debt Restructurings:		Number of Loans			Pre-Modification Outstanding Recorded Investment (1)				Principal Modification (2)				Post Modification Outstanding Recorded Investment (3)				Outstanding Recorded Investment
Commercial:
Commercial and Industrial		1			$	38			$	—			$	38			$	36
Real Estate:
Commercial real estate		1			166				—				166				165
Total		2			$	204			$	—			$	204			$	201

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Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account.

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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.

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