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Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2021

Receivables [Abstract]

Outstanding loans

Outstanding loans are summarized as follows:

Loan Type (Dollars in thousands)						March 31, 2021						% of Total Loans						December 31, 2020						% of Total Loans
Commercial:
Commercial and industrial						$	271,251					24.8		%				$	273,994					24.9		%
Agricultural production						21,049						1.9		%				21,971						2.0		%
Total commercial						292,300						26.7		%				295,965						26.9		%
Real estate:
Owner occupied						203,441						18.5		%				208,843						18.9		%
Real estate construction and other land loans						57,966						5.3		%				55,419						5.0		%
Commercial real estate						340,673						31.2		%				338,886						30.7		%
Agricultural real estate						83,107						7.6		%				84,258						7.6		%
Other real estate						26,976						2.5		%				28,718						2.6		%
Total real estate						712,163						65.1		%				716,124						64.8		%
Consumer:
Equity loans and lines of credit						52,512						4.8		%				55,634						5.0		%
Consumer and installment						36,536						3.4		%				37,236						3.3		%
Total consumer						89,048						8.2		%				92,870						8.3		%
Net deferred origination (fees) costs						(3,171)												(2,612)
Total gross loans						1,090,340						100.0		%				1,102,347						100.0		%
Allowance for credit losses						(12,056)												(12,915)
Total loans						$	1,078,284											$	1,089,432

Impaired loans

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, 2021 and 2020 (in thousands).

						Three Months Ended March 31, 2021												Three Months Ended March 31, 2020
						Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
With no related allowance recorded:
Commercial:
Commercial and industrial						$	15					$	—					$	121					$	—
Real estate:
Owner occupied						180						—						413						—
Real estate construction and other land loans						108						—						—						—
Commercial real estate						505						—						1,101						12
Agricultural real estate						—						—						258						—
Total real estate						793						—						1,772						12
Consumer:
Equity loans and lines of credit						144						12						300						3
Total with no related allowance recorded						952						12						2,193						15
With an allowance recorded:
Commercial:
Commercial and industrial						7,002						582						3,048						173
Agricultural production						717												212						12
Total commercial						7,719						582						3,260						185
Real estate:
Real estate construction and other land loans						1,513						—						—						—
Commercial real estate						147						11						151						3
Agricultural real estate						30						2						19						—
Total real estate						1,690						13						170						3
Consumer:
Equity loans and lines of credit						933						55						1,124						14
Consumer and installment						44						—						3						—
Total consumer						977						55						1,127						14
Total with an allowance recorded						10,386						650						4,557						202
Total						$	11,338					$	662					$	6,750					$	217

Foregone interest on nonaccrual loans totaled $56,000 and $24,000 for the three months period ended March 31, 2021 and 2020, respectively.

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, 2021 and 2020 by portfolio segment (in thousands):

						Commercial						Real Estate						Consumer						Unallocated						Total
Allowance for credit losses:
Beginning balance, January 1, 2021						$	2,019					$	9,174					$	1,091					$	631					$	12,915
Provision (reversal) charged to operations						(132)						(1,141)						(229)						(298)						(1,800)
Losses charged to allowance						(31)						—						(26)						—						(57)
Recoveries						627						319						52						—						998
Ending balance, March 31, 2021						$	2,483					$	8,352					$	888					$	333					$	12,056
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

    The following is a summary of the Allowance by impairment methodology and portfolio segment as of March 31, 2021 and December 31, 2020 (in thousands):

						Commercial						Real Estate						Consumer						Unallocated						Total
Allowance for credit losses:
Ending balance, March 31, 2021						$	2,483					$	8,352					$	888					$	333					$	12,056
Ending balance: individually evaluated for impairment						$	1,006					$	246					$	7					$	—					$	1,259
Ending balance: collectively evaluated for impairment						$	1,477					$	8,106					$	881					$	333					$	10,797
Ending balance, December 31, 2020						$	2,019					$	9,174					$	1,091					$	631					$	12,915
Ending balance: individually evaluated for impairment						$	339					$	271					$	21					$	—					$	631
Ending balance: collectively evaluated for impairment						$	1,680					$	8,903					$	1,070					$	631					$	12,284

Schedule of receivable by impairment methodology

						Commercial						Real Estate						Consumer						Total
Loans:
Ending balance, March 31, 2021						$	292,300					$	712,163					$	89,048					$	1,093,511
Ending balance: individually evaluated for impairment						$	7,412					$	2,521					$	1,073					$	11,006
Ending balance: collectively evaluated for impairment						$	284,888					$	709,642					$	87,975					$	1,082,505
Loans:
Ending balance, December 31, 2020						$	295,965					$	716,124					$	92,870					$	1,104,959
Ending balance: individually evaluated for impairment						$	7,402					$	2,616					$	1,168					$	11,186
Ending balance: collectively evaluated for impairment						$	288,563					$	713,508					$	91,702					$	1,093,773

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, 2021 (in thousands):

						Pass						Special Mention						Sub-Standard						Doubtful						Total
Commercial:
Commercial and industrial						$	259,370					$	2,825					$	9,056					$	—					$	271,251
Agricultural production						16,474						1,333						3,242						—						21,049
Real Estate:
Owner occupied						192,859						3,568						7,014						—						203,441
Real estate construction and other land loans						49,769						4,998						3,199						—						57,966
Commercial real estate						314,087						16,988						9,598						—						340,673
Agricultural real estate						73,122						8,812						1,173						—						83,107
Other real estate						26,815						161						—						—						26,976
Consumer:
Equity loans and lines of credit						50,947						635						930						—						52,512
Consumer and installment						36,386						86						64						—						36,536
Total						$	1,019,829					$	39,406					$	34,276					$	—					$	1,093,511

    The following table shows the loan portfolio by class allocated by management’s internally assigned risk grade ratings at December 31, 2020 (in thousands):

						Pass						Special Mention						Sub-Standard						Doubtful						Total
Commercial:
Commercial and industrial						$	258,587					$	5,004					$	10,403					$	—					$	273,994
Agricultural production						18,289						377						3,305						—						21,971
Real Estate:
Owner occupied						197,721						3,870						7,252						—						208,843
Real estate construction and other land loans						50,560						1,622						3,237						—						55,419
Commercial real estate						314,710						14,537						9,639						—						338,886
Agricultural real estate						72,875						10,195						1,188						—						84,258
Other real estate						28,557						161						—						—						28,718
Consumer:
Equity loans and lines of credit						54,034						640						960						—						55,634
Consumer and installment						37,084						—						152						—						37,236
Total						$	1,032,417					$	36,406					$	36,136					$	—					$	1,104,959

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, 2021 (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						$	—					$	—					$	—					$	—					$	271,251					$	271,251					$	—					$	362
Agricultural production						—						—						—						—						21,049						21,049						—						1,399
Real estate:						—																								—
Owner occupied						—						—						—						—						203,441						203,441						—						—
Real estate construction and other land loans						—						—						—						—						57,966						57,966						—						1,524
Commercial real estate						—						—						—						—						340,673						340,673						—						498
Agricultural real estate						—						—						—						—						83,107						83,107						—						—
Other real estate						—						—						—						—						26,976						26,976						—						—
Consumer:																														—
Equity loans and lines of credit						—						—						—						—						52,512						52,512						—						—
Consumer and installment						—						—						—						—						36,536						36,536						—						—
Total						$	—					$	—					$	—					$	—					$	1,093,511					$	1,093,511					$	—					$	3,783

    The following table shows an aging analysis of the loan portfolio by class and the time past due at December 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						$	—					$	—					$	60					$	60					$	273,934					$	273,994					$	—					$	752
Agricultural production						—						—						—						—						21,971						21,971						—						—
Real estate:						—
Owner occupied						—						—						—						—						208,843						208,843						—						370
Real estate construction and other land loans						—						—						—						—						55,419						55,419						—						1,556
Commercial real estate						—						—						—						—						338,886						338,886						—						512
Agricultural real estate						—						—						—						—						84,258						84,258						—						—
Other real estate						—						—						—						—						28,718						28,718						—						—
Consumer:
Equity loans and lines of credit						—						24						—						24						55,610						55,634						—						—
Consumer and installment						5						—						—						5						37,231						37,236						—						88
Total						$	5					$	24					$	60					$	89					$	1,104,870					$	1,104,959					$	—					$	3,278

Troubled debt restructurings

The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended March 31, 2021 (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
Real Estate:
Real estate-construction and other land loans						1						$	333					$	—					$	333					$	325

(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, 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

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