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Loans and Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2021

Receivables [Abstract]

Outstanding loans

Outstanding loans are summarized as follows:

Loan Type (Dollars in thousands)						June 30, 2021						% of Total Loans						December 31, 2020						% of Total Loans
Commercial:
Commercial and industrial						$	208,919					19.4		%				$	273,994					24.9		%
Agricultural production						32,918						3.1		%				21,971						2.0		%
Total commercial						241,837						22.5		%				295,965						26.9		%
Real estate:
Owner occupied						200,232						18.7		%				208,843						18.9		%
Real estate construction and other land loans						65,282						6.1		%				55,419						5.0		%
Commercial real estate						357,519						33.4		%				338,886						30.7		%
Agricultural real estate						88,110						8.2		%				84,258						7.6		%
Other real estate						29,750						2.8		%				28,718						2.6		%
Total real estate						740,893						69.2		%				716,124						64.8		%
Consumer:
Equity loans and lines of credit						51,364						4.8		%				55,634						5.0		%
Consumer and installment						37,241						3.5		%				37,236						3.3		%
Total consumer						88,605						8.3		%				92,870						8.3		%
Net deferred origination (fees) costs						(1,390)												(2,612)
Total gross loans						1,069,945						100.0		%				1,102,347						100.0		%
Allowance for credit losses						(10,439)												(12,915)
Total loans						$	1,059,506											$	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 June 30, 2021 and 2020 (in thousands).

						Three Months Ended June 30, 2021												Three Months Ended June 30, 2020
						Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
With no related allowance recorded:
Commercial:
Commercial and industrial						$	—					$	—					$	7					$	—
Agricultural production						—						—						212						—
Total commercial						—						—						219						—
Real estate:
Owner occupied						—						—						401						—
Real estate construction and other land loans						333						5						—						—
Commercial real estate						490						—						848						—
Agricultural real estate						—						—						199						—
Total real estate						823						5						1,448						—
Consumer:
Equity loans and lines of credit						142						3						232						3
Total with no related allowance recorded						965						8						1,899						3
With an allowance recorded:
Commercial:
Commercial and industrial						5,831						67						11,516						171
Agricultural production						1,328												619						12
Total commercial						7,159						67						12,135						183
Real estate:
Real estate construction and other land loans						746						—						95						—
Commercial real estate						144						2						331						2
Agricultural real estate						30						1						28						1
Total real estate						920						3						454						3
Consumer:
Equity loans and lines of credit						928						14						957						14
Consumer and installment						—						—						38						—
Total consumer						928						14						995						14
Total with an allowance recorded						9,007						84						13,584						200
Total						$	9,972					$	92					$	15,483					$	203

The following tables present by class, information related to the average recorded investment and interest income recognized on impaired loans for the six months ended June 30, 2021 and 2020 (in thousands).

						Six Months Ended June 30, 2021												Six Months Ended June 30, 2020
						Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
With no related allowance recorded:
Commercial:
Commercial and industrial						$	9					$	—					$	71					$	—
Agricultural land and production						—						—						121						—
Total commercial						9						—						192						—
Real estate:
Owner occupied						103						—						407						—
Real estate construction and other land loans						201						11						—						—
Commercial real estate						498						—						959						—
Agricultural real estate						—						—						228						—
Total real estate						802						11						1,594						—
Consumer:
Equity loans and lines of credit						142						6						264						6
Total with no related allowance recorded						953						17						2,050						6
With an allowance recorded:
Commercial:
Commercial and industrial						6,475						153						6,589						344
Agricultural land and production						969						—						354						24
Total commercial						7,444						153						6,943						368
Real estate:
Real estate construction and other land loans						1,077						—						54						—
Commercial real estate						145						5						254						5
Agricultural real estate						30						1						26						1
Total real estate						1,252						6						334						6
Consumer:
Equity loans and lines of credit						931						27						1,052						28
Consumer and installment						25						—						24						—
Total consumer						956						27						1,076						28
Total with an allowance recorded						9,652						186						8,353						402
Total						$	10,605					$	203					$	10,403					$	408

Foregone interest on nonaccrual loans totaled $72,000 and $74,000 for the six month period ended June 30, 2021 and 2020, respectively. Foregone interest on nonaccrual loans totaled 34,000 and 55,000 for the three month period ended June 30, 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 June 30, 2021 and 2020 by portfolio segment (in thousands):

						Commercial						Real Estate						Consumer						Unallocated						Total
Allowance for credit losses:
Beginning balance, April 1, 2021						$	2,483					$	8,352					$	888					$	333					$	12,056
(Reversal) provision charged to operations						(307)						(1,302)						91						18						(1,500)
Charge-offs						—						—						(171)						—						(171)
Recoveries						34						—						20						—						54
Ending balance, June 30, 2021						$	2,210					$	7,050					$	828					$	351					$	10,439
Allowance for credit losses:
Beginning balance, April 1, 2020						$	1,657					$	7,555					$	1,236					$	98					$	10,546
Provision charged to operations						7						2,834						76						83						3,000
Charge-offs						—						—						(80)						—						(80)
Recoveries						423						—						48						—						471
Ending balance, June 30, 2020						$	2,087					$	10,389					$	1,280					$	181					$	13,937

The following table shows the summary of activities for the Allowance as of and for the six months ended June 30, 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
Reversal charged to operations						(439)						(2,443)						(138)						(280)						(3,300)
Charge-offs						(31)						—						(197)						—						(228)
Recoveries						661						319						72						—						1,052
Ending balance, June 30, 2021						$	2,210					$	7,050					$	828					$	351					$	10,439
Allowance for credit losses:
Beginning balance, January 1, 2020						$	1,428					$	6,769					$	897					$	36					$	9,130
Provision charged to operations						233						3,620						377						145						4,375
Charge-offs						(29)						—						(94)						—						(123)
Recoveries						455						—						100						—						555
Ending balance, June 30, 2020						$	2,087					$	10,389					$	1,280					$	181					$	13,937

    The following is a summary of the Allowance by impairment methodology and portfolio segment as of June 30, 2021 and December 31, 2020 (in thousands):

						Commercial						Real Estate						Consumer						Unallocated						Total
Allowance for credit losses:
Ending balance, June 30, 2021						$	2,210					$	7,050					$	828					$	351					$	10,439
Ending balance: individually evaluated for impairment						$	865					$	10					$	5					$	—					$	880
Ending balance: collectively evaluated for impairment						$	1,345					$	7,040					$	823					$	351					$	9,559
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, June 30, 2021						$	241,837					$	740,893					$	88,605					$	1,071,335
Ending balance: individually evaluated for impairment						$	6,503					$	971					$	1,065					$	8,539
Ending balance: collectively evaluated for impairment						$	235,334					$	739,922					$	87,540					$	1,062,796
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 June 30, 2021 (in thousands):

						Pass						Special Mention						Sub-Standard						Doubtful						Total
Commercial:
Commercial and industrial						$	196,108					$	745					$	12,066					$	—					$	208,919
Agricultural production						28,520						1,430						2,968						—						32,918
Real Estate:
Owner occupied						189,898						3,360						6,974						—						200,232
Real estate construction and other land loans						60,603						4,679						—						—						65,282
Commercial real estate						341,805						6,161						9,553						—						357,519
Agricultural real estate						84,870						2,087						1,153						—						88,110
Other real estate						29,589						—						161						—						29,750
Consumer:
Equity loans and lines of credit						51,116						248						—						—						51,364
Consumer and installment						37,178						—						63						—						37,241
Total						$	1,019,687					$	18,710					$	32,938					$	—					$	1,071,335

    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 June 30, 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						$	16					$	—					$	—					$	16					$	208,903					$	208,919					$	—					$	347
Agricultural production						—						—						—						—						32,918						32,918						—						1,205
Real estate:						—																								—
Owner occupied						—						—						—						—						200,232						200,232						—						—
Real estate construction and other land loans						—						—						—						—						65,282						65,282						—						—
Commercial real estate						294						—						—						294						357,225						357,519						—						483
Agricultural real estate						—						—						—						—						88,110						88,110						—						—
Other real estate						—						—						—						—						29,750						29,750						—						—
Consumer:																														—
Equity loans and lines of credit						—						—						—						—						51,364						51,364						—						—
Consumer and installment						81						—						—						81						37,160						37,241						—						—
Total						$	391					$	—					$	—					$	391					$	1,070,944					$	1,071,335					$	—					$	2,035

    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 six months ended June 30, 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					$	317

(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 six months ended June 30, 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					$	9,725
Agricultural production						1						850						—						850						775
Total						2						$	13,775					$	—					$	13,775					$	10,500

During the quarters ended June 30, 2021 and 2020, no loans were modified as troubled debt restructurings.

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