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Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2021

Receivables [Abstract]

Outstanding loans

Outstanding loans are summarized as follows:

Loan Type (Dollars in thousands)						September 30, 2021						% of Total Loans						December 31, 2020						% of Total Loans
Commercial:
Commercial and industrial						$	184,830					17.0		%				$	273,994					24.9		%
Agricultural production						32,178						3.0		%				21,971						2.0		%
Total commercial						217,008						20.0		%				295,965						26.9		%
Real estate:
Owner occupied						210,577						19.4		%				208,843						18.9		%
Real estate construction and other land loans						65,912						6.1		%				55,419						5.0		%
Commercial real estate						365,564						33.7		%				338,886						30.7		%
Agricultural real estate						98,150						9.1		%				84,258						7.6		%
Other real estate						33,612						3.1		%				28,718						2.6		%
Total real estate						773,815						71.4		%				716,124						64.8		%
Consumer:
Equity loans and lines of credit						54,833						5.1		%				55,634						5.0		%
Consumer and installment						38,250						3.5		%				37,236						3.3		%
Total consumer						93,083						8.6		%				92,870						8.3		%
Net deferred origination fees						(409)												(2,612)
Total gross loans						1,083,497						100.0		%				1,102,347						100.0		%
Allowance for credit losses						(10,061)												(12,915)
Total loans						$	1,073,436											$	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 September 30, 2021 and 2020 (in thousands).

						Three Months Ended September 30, 2021												Three Months Ended September 30, 2020
						Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
With no related allowance recorded:
Commercial:
Commercial and industrial						$	123					$	—					$	4,157					$	—
Real estate:
Owner occupied						—						—						385						—
Real estate construction and other land loans						234						—						7						—
Commercial real estate						365						—						689						—
Agricultural real estate						—						—						120						—
Total real estate						599						—						1,201						—
Consumer:
Equity loans and lines of credit						139						3						178						3
Total with no related allowance recorded						861						3						5,536						3
With an allowance recorded:
Commercial:
Commercial and industrial						5,538						129						5,440						138
Agricultural production						1,063						—						778						11
Total commercial						6,601						129						6,218						149
Real estate:
Real estate construction and other land loans						76						5						656						—
Commercial real estate						141						2						150						3
Agricultural real estate						28						—						28						1
Total real estate						245						7						834						4
Consumer:
Equity loans and lines of credit						922						14						944						14
Consumer and installment						—						—						70						—
Total consumer						922						14						1,014						14
Total with an allowance recorded						7,768						150						8,066						167
Total						$	8,629					$	153					$	13,602					$	170

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

						Nine Months Ended September 30, 2021												Nine Months Ended September 30, 2020
						Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
With no related allowance recorded:
Commercial:
Commercial and industrial						$	56					$	—					$	1,712					$	—
Agricultural land and production						—						—						85						—
Total commercial						56						—						1,797						—
Real estate:
Owner occupied						72						—						400						—
Real estate construction and other land loans						203						—						3						—
Commercial real estate						446						—						860						—
Agricultural real estate						—						—						189						—
Total real estate						721						—						1,452						—
Consumer:
Equity loans and lines of credit						141						9						237						9
Total with no related allowance recorded						918						9						3,486						9
With an allowance recorded:
Commercial:
Commercial and industrial						6,217						282						5,743						482
Agricultural land and production						983						—						481						36
Total commercial						7,200						282						6,224						518
Real estate:
Real estate construction and other land loans						785						16						281						—
Commercial real estate						144						7						223						8
Agricultural real estate						29						1						26						2
Total real estate						958						24						530						10
Consumer:
Equity loans and lines of credit						928						40						1,019						41
Consumer and installment						18						—						45						—
Total consumer						946						40						1,064						41
Total with an allowance recorded						9,104						346						7,818						569
Total						$	10,022					$	355					$	11,304					$	578

Foregone interest on nonaccrual loans totaled $101,000 and $135,000 for the nine month period ended September 30, 2021 and 2020, respectively. Foregone interest on nonaccrual loans totaled 30,000 and 82,000 for the three month period ended September 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 September 30, 2021 and 2020 by portfolio segment (in thousands):

						Commercial						Real Estate						Consumer						Unallocated						Total
Allowance for credit losses:
Beginning balance, July 1, 2021						$	2,210					$	7,050					$	828					$	351					$	10,439
(Reversal) provision charged to operations						118						(434)						(230)						46						(500)
Charge-offs						(15)						—						(19)						—						(34)
Recoveries						21						—						135						—						156
Ending balance, September 30, 2021						$	2,334					$	6,616					$	714					$	397					$	10,061
Allowance for credit losses:
Beginning balance, July 1, 2020						$	2,087					$	10,389					$	1,280					$	181					$	13,937
Provision (reversal) charged to operations						(30)						267						60						303						600
Charge-offs						(43)						—						(2)						—						(45)
Recoveries						146						—						19						—						165
Ending balance, September 30, 2020						$	2,160					$	10,656					$	1,357					$	484					$	14,657

The following table shows the summary of activities for the Allowance as of and for the nine months ended September 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						(321)						(2,877)						(368)						(234)						(3,800)
Charge-offs						(46)						—						(215)						—						(261)
Recoveries						682						319						206						—						1,207
Ending balance, September 30, 2021						$	2,334					$	6,616					$	714					$	397					$	10,061
Allowance for credit losses:
Beginning balance, January 1, 2020						$	1,428					$	6,769					$	897					$	36					$	9,130
Provision charged to operations						203						3,887						437						448						4,975
Charge-offs						(72)						—						(97)						—						(169)
Recoveries						601						—						120						—						721
Ending balance, September 30, 2020						$	2,160					$	10,656					$	1,357					$	484					$	14,657

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

						Commercial						Real Estate						Consumer						Unallocated						Total
Allowance for credit losses:
Ending balance, September 30, 2021						$	2,334					$	6,616					$	714					$	397					$	10,061
Ending balance: individually evaluated for impairment						$	877					$	50					$	4					$	—					$	931
Ending balance: collectively evaluated for impairment						$	1,457					$	6,566					$	710					$	397					$	9,130
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, September 30, 2021						$	217,008					$	773,815					$	93,083					$	1,083,906
Ending balance: individually evaluated for impairment						$	8,051					$	952					$	1,057					$	10,060
Ending balance: collectively evaluated for impairment						$	208,957					$	772,863					$	92,026					$	1,073,846
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 September 30, 2021 (in thousands):

						Pass						Special Mention						Sub-Standard						Doubtful						Total
Commercial:
Commercial and industrial						$	173,016					$	667					$	11,147					$	—					$	184,830
Agricultural production						27,732						1,170						3,276						—						32,178
Real Estate:
Owner occupied						202,100						2,993						5,484						—						210,577
Real estate construction and other land loans						60,180						5,732						—						—						65,912
Commercial real estate						349,831						13,785						1,948						—						365,564
Agricultural real estate						94,985						2,021						1,144						—						98,150
Other real estate						33,612						—						—						—						33,612
Consumer:
Equity loans and lines of credit						54,589						244						—						—						54,833
Consumer and installment						38,184						—						66						—						38,250
Total						$	1,034,229					$	26,612					$	23,065					$	—					$	1,083,906

    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 September 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						$	1					$	—					$	—					$	1					$	184,829					$	184,830					$	—					$	333
Agricultural production						—						—						—						—						32,178						32,178						—						779
Real estate:						—																								—
Owner occupied						161						—						—						161						210,416						210,577						—						—
Real estate construction and other land loans						—						—						—						—						65,912						65,912						—						—
Commercial real estate						—						—						—						—						365,564						365,564						—						485
Agricultural real estate						—						—						—						—						98,150						98,150						—						—
Other real estate						—						—						—						—						33,612						33,612						—						—
Consumer:																														—
Equity loans and lines of credit						104						—						—						104						54,729						54,833						—						—
Consumer and installment						47						—						—						47						38,203						38,250						—						—
Total						$	313					$	—					$	—					$	313					$	1,083,593					$	1,083,906					$	—					$	1,597

    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 nine months ended September 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
Commercial:
Commercial and industrial						1						$	2,989					$	—					$	2,489					$	2,489
Real Estate:
Real estate-construction and other land loans						1						333						—						333						305
Total						2						$	3,322					$	—					$	2,822					$	2,794

(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 nine months ended September 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					$	7,175
Agricultural production						1						850						—						850						779
Total						2						$	13,775					$	—					$	13,775					$	7,954

The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended September 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
Commercial:
Commercial and Industrial						1						$	2,989					$	—					$	2,489					$	2,489
Total						1						$	2,989					$	—					$	2,489					$	2,489

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