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Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Outstanding loans

Outstanding loans are summarized as follows:

Loan Type (Dollars in thousands)		March 31, 2020				% of Total Loans			December 31, 2019				% of Total Loans
Commercial:
Commercial and industrial		$	102,606			11.0	%		$	102,541			10.9	%
Agricultural production		17,162				1.9	%		23,159				2.6	%
Total commercial		119,768				12.9	%		125,700				13.5	%
Real estate:
Owner occupied		198,551				21.4	%		197,946				21.0	%
Real estate construction and other land loans		79,794				8.6	%		73,718				7.8	%
Commercial real estate		326,044				35.2	%		329,333				34.9	%
Agricultural real estate		67,935				7.3	%		76,304				8.1	%
Other real estate		33,184				3.6	%		31,241				3.3	%
Total real estate		705,508				76.1	%		708,542				75.1	%
Consumer:
Equity loans and lines of credit		61,601				6.6	%		64,841				6.9	%
Consumer and installment		41,341				4.4	%		42,782				4.5	%
Total consumer		102,942				11.0	%		107,623				11.4	%
Net deferred origination costs		1,551							1,515
Total gross loans		929,769				100.0	%		943,380				100.0	%
Allowance for credit losses		(10,546		)					(9,130		)
Total loans		$	919,223						$	934,250

Impaired loans

The following table shows information related to impaired loans by class at March 31, 2020 (in thousands):

		Recorded Investment				Unpaid Principal Balance				Related Allowance
With no related allowance recorded:
Commercial:
Commercial and industrial		$	13			$	14			$	—
Real estate:
Owner occupied		411				424				—
Commercial real estate		1,083				1,351				—
Agricultural real estate		232				237				—
Total real estate		1,726				2,012				—
Consumer:
Equity loans and lines of credit		279				325				—
Total with no related allowance recorded		2,018				2,351				—
With an allowance recorded:
Commercial:
Commercial and industrial		12,132				12,134				158
Agricultural production		850				850				17
Total commercial		12,982				12,984				175
Real estate:
Commercial real estate		150				151				3
Consumer:
Equity loans and lines of credit		963				963				16
Total with an allowance recorded		14,095				14,098				194
Total		$	16,113			$	16,449			$	194

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, 2019 (in thousands):

		Recorded Investment				Unpaid Principal Balance				Related Allowance
With no related allowance recorded:
Commercial:
Commercial and industrial		$	163			$	432			$	—
Real estate:
Owner occupied		416				426				—
Real estate construction and other land loans		—				—				—
Commercial real estate		1,110				1,361				—
Agricultural real estate		321				321				—
Total real estate		1,847				2,108				—
Consumer:
Equity loans and lines of credit		220				256				—
Total with no related allowance recorded		2,230				2,796				—
With an allowance recorded:
Commercial:
Commercial and industrial		24				27				2
Real estate:
Commercial real estate		152				153				3
Agricultural real estate		37				37				—
Total real estate		189				190				3
Consumer:
Equity loans and lines of credit		1,291				1,292				35
Total with an allowance recorded		1,504				1,509				40
Total		$	3,734			$	4,305			$	40

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, 2020 and 2019 (in thousands).

		Three Months Ended March 31, 2020								Three Months Ended March 31, 2019
		Average Recorded Investment				Interest Income Recognized				Average Recorded Investment				Interest Income Recognized
With no related allowance recorded:
Commercial:
Commercial and industrial		$	121			$	—			$	249			$	—
Real estate:
Owner occupied		413				—				213				—
Real estate construction and other land loans		—				—				2,217				16
Commercial real estate		1,101				12				1,171				12
Agricultural real estate		258				—				—				—
Total real estate		1,772				12				3,601				28
Consumer:
Equity loans and lines of credit		300				3				196				1
Total with no related allowance recorded		2,193				15				4,046				29
With an allowance recorded:
Commercial:
Commercial and industrial		3,048				173				84				1
Agricultural production		212				12				—				—
Total commercial		3,260				185				84				1
Real estate:
Commercial real estate		151				3				572				3
Agricultural real estate		19				—				44				1
Total real estate		170				3				616				4
Consumer:
Equity loans and lines of credit		1,124				14				1,105				14
Consumer and installment		3				—				—				—
Total consumer		1,127				14				1,105				14
Total with an allowance recorded		4,557				202				1,805				19
Total		$	6,750			$	217			$	5,851			$	48

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, 2020 and 2019 by portfolio segment (in thousands):

		Commercial				Real Estate				Consumer				Unallocated				Total
Allowance for credit losses:
Beginning balance, January 1, 2020		$	1,428			$	6,769			$	897			$	36			$	9,130
Provision charged to operations		225				786				302				62				1,375
Losses charged to allowance		(28		)		—				(15		)		—				(43		)
Recoveries		32				—				52				—				84
Ending balance, March 31, 2020		$	1,657			$	7,555			$	1,236			$	98			$	10,546
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

The following is a summary of the Allowance by impairment methodology and portfolio segment as of March 31, 2020 and December 31, 2019 (in thousands):

		Commercial				Real Estate				Consumer				Unallocated				Total
Allowance for credit losses:
Ending balance, March 31, 2020		$	1,657			$	7,555			$	1,236			$	98			$	10,546
Ending balance: individually evaluated for impairment		$	175			$	3			$	16			$	—			$	194
Ending balance: collectively evaluated for impairment		$	1,482			$	7,552			$	1,220			$	98			$	10,352
Ending balance, December 31, 2019		$	1,428			$	6,769			$	897			$	36			$	9,130
Ending balance: individually evaluated for impairment		$	2			$	3			$	35			$	—			$	40
Ending balance: collectively evaluated for impairment		$	1,426			$	6,766			$	862			$	36			$	9,090

Schedule of receivable by impairment methodology

		Commercial				Real Estate				Consumer				Total
Loans:
Ending balance, March 31, 2020		$	119,768			$	705,508			$	102,942			$	928,218
Ending balance: individually evaluated for impairment		$	12,995			$	1,876			$	1,242			$	16,113
Ending balance: collectively evaluated for impairment		$	106,773			$	703,632			$	101,700			$	912,105
Loans:
Ending balance, December 31, 2019		$	125,700			$	708,542			$	107,623			$	941,865
Ending balance: individually evaluated for impairment		$	187			$	2,036			$	1,511			$	3,734
Ending balance: collectively evaluated for impairment		$	125,513			$	706,506			$	106,112			$	938,131

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, 2020 (in thousands):

		Pass				Special Mention				Sub-Standard				Doubtful				Total
Commercial:
Commercial and industrial		$	87,749			$	2,364			$	12,493			$	—			$	102,606
Agricultural production		11,284				—				5,878				—				17,162
Real Estate:
Owner occupied		187,015				6,870				4,666				—				198,551
Real estate construction and other land loans		77,411				333				2,050				—				79,794
Commercial real estate		324,088				854				1,102				—				326,044
Agricultural real estate		60,058				1,000				6,877				—				67,935
Other real estate		33,184				—				—				—				33,184
Consumer:
Equity loans and lines of credit		59,732				515				1,354				—				61,601
Consumer and installment		41,341				—				—				—				41,341
Total		$	881,862			$	11,936			$	34,420			$	—			$	928,218

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

		Pass				Special Mention				Sub-Standard				Doubtful				Total
Commercial:
Commercial and industrial		$	86,705			$	2,635			$	13,201			$	—			$	102,541
Agricultural production		18,814				—				4,345				—				23,159
Real Estate:
Owner occupied		186,370				6,881				4,695				—				197,946
Real estate construction and other land loans		72,142				—				1,576				—				73,718
Commercial real estate		310,982				17,202				1,149				—				329,333
Agricultural real estate		68,032				946				7,326				—				76,304
Other real estate		31,241				—				—				—				31,241
Consumer:
Equity loans and lines of credit		62,776				519				1,546				—				64,841
Consumer and installment		42,782				—				—				—				42,782
Total		$	879,844			$	28,183			$	33,838			$	—			$	941,865

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, 2020 (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		$	209			$	—			$	—			$	209			$	102,397			$	102,606			$	—			$	20
Agricultural production		—				—				—				—				17,162				17,162				—				—
Real estate:		—																—
Owner occupied		—				—				218				218				198,333				198,551				—				411
Real estate construction and other land loans		191				—				—				191				79,603				79,794				—				—
Commercial real estate		205				—				—				205				325,839				326,044				—				360
Agricultural real estate		324				—				—				324				67,611				67,935				—				195
Other real estate		—				—				—				—				33,184				33,184				—				—
Consumer:																		—
Equity loans and lines of credit		11				—				—				11				61,590				61,601				—				129
Consumer and installment		178				—				—				178				41,163				41,341				—				—
Total		$	1,118			$	—			$	218			$	1,336			$	926,882			$	928,218			$	—			$	1,115

The following table shows an aging analysis of the loan portfolio by class and the time past due at December 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		$	17			$	—			$	—			$	17			$	102,524			$	102,541			$	—			$	187
Agricultural production		—				—				—				—				23,159				23,159				—				—
Real estate:		—
Owner occupied		—				218				—				218				197,728				197,946				—				416
Real estate construction and other land loans		—				—				—				—				73,718				73,718				—				—
Commercial real estate		—				381				—				381				328,952				329,333				—				381
Agricultural real estate		—				—				—				—				76,304				76,304				—				321
Other real estate		—				—				—				—				31,241				31,241				—				—
Consumer:
Equity loans and lines of credit		—				—				—				—				64,841				64,841				—				388
Consumer and installment		168				—				—				168				42,614				42,782				—				—
Total		$	185			$	599			$	—			$	784			$	941,081			$	941,865			$	—			$	1,693

Troubled debt restructurings

The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended March 31, 2020 (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			$	12,925			$	—			$	12,925			$	12,125
Agricultural production		1			850				—				850				850
Total		2			$	13,775			$	—			$	13,775			$	12,975

(1) Amounts represent the recorded investment in loans before recognizing effects of the Troubled Debt Restructurings, 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, 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

Troubled Debt Restructuring

Troubled Debt Restructuring

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