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Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Outstanding loans

Outstanding loans are summarized as follows:

Loan Type (Dollars in thousands)						March 31, 2022						% of Total Loans						December 31, 2021						% of Total Loans
Commercial:
Commercial and industrial						$	116,927					11.6		%				$	136,847					13.2		%
Agricultural production						32,045						3.2		%				40,860						3.9		%
Total commercial						148,972						14.8		%				177,707						17.1		%
Real estate:
Owner occupied						204,272						20.2		%				212,234						20.4		%
Real estate construction and other land loans						73,358						7.2		%				61,586						5.9		%
Commercial real estate						375,017						37.2		%				369,529						35.6		%
Agricultural real estate						94,462						9.3		%				98,481						9.5		%
Other real estate						25,351						2.5		%				26,084						2.5		%
Total real estate						772,460						76.4		%				767,914						73.9		%
Consumer:
Equity loans and lines of credit						54,706						5.4		%				55,620						5.4		%
Consumer and installment						34,825						3.4		%				36,999						3.6		%
Total consumer						89,531						8.8		%				92,619						9.0		%
Net deferred origination fees						1,079												871
Total gross loans						1,012,042						100.0		%				1,039,111						100.0		%
Allowance for credit losses						(9,864)												(9,600)
Total loans						$	1,002,178											$	1,029,511

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, 2022 and 2021 (in thousands).

						Three Months Ended March 31, 2022												Three Months Ended March 31, 2021
						Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
With no related allowance recorded:
Commercial:
Commercial and industrial						$	143					$	—					$	15					$	—
Agricultural production						83						—						—						—
Total commercial						226						—						15						—
Real estate:
Owner occupied						—						—						180						—
Real estate construction and other land loans						—						—						108						—
Commercial real estate						—						—						505						—
Total real estate						—						—						793						—
Consumer:
Equity loans and lines of credit						136						3						144						12
Total with no related allowance recorded						362						3						952						12
With an allowance recorded:
Commercial:
Commercial and industrial						3,329						27						7,002						582
Agricultural production						158						—						717						—
Total commercial						3,487						27						7,719						582
Real estate:
Real estate construction and other land loans						286						5						1,513						—
Commercial real estate						136						2						147						11
Agricultural real estate						21						—						30						2
Total real estate						443						7						1,690						13
Consumer:
Equity loans and lines of credit						911						13						933						55
Consumer and installment						—						—						44						—
Total consumer						911						13						977						55
Total with an allowance recorded						4,841						47						10,386						650
Total						$	5,203					$	50					$	11,338					$	662

Foregone interest on nonaccrual loans totaled $4,000 and $56,000 for the three month period ended March 31, 2022 and 2021, 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, 2022 and 2021 by portfolio segment (in thousands):

						Commercial						Real Estate						Consumer						Unallocated						Total
Allowance for credit losses:
Beginning balance, January 01, 2022						$	2,011					$	6,741					$	568					$	280					$	9,600
(Reversal) provision charged to operations						(356)						307						31						18						—
Charge-offs						(18)						—						(83)						—						(101)
Recoveries						356						—						9						—						365
Ending balance, March 31, 2022						$	1,993					$	7,048					$	525					$	298					$	9,864
Allowance for credit losses:
Beginning balance, January 1, 2021						$	2,019					$	9,174					$	1,091					$	631					$	12,915
Reversal charged to operations						(132)						(1,141)						(229)						(298)						(1,800)
Charge-offs						(31)						—						(26)						—						(57)
Recoveries						627						319						52						—						998
Ending balance, March 31, 2021						$	2,483					$	8,352					$	888					$	333					$	12,056

    The following is a summary of the Allowance by impairment methodology and portfolio segment as of March 31, 2022 and December 31, 2021 (in thousands):

						Commercial						Real Estate						Consumer						Unallocated						Total
Allowance for credit losses:
Ending balance, March 31, 2022						$	1,993					$	7,048					$	525					$	298					$	9,864
Ending balance: individually evaluated for impairment						$	556					$	25					$	2					$	—					$	583
Ending balance: collectively evaluated for impairment						$	1,437					$	7,023					$	523					$	298					$	9,281
Ending balance, December 31, 2021						$	2,011					$	6,741					$	568					$	280					$	9,600
Ending balance: individually evaluated for impairment						$	607					$	38					$	4					$	—					$	649
Ending balance: collectively evaluated for impairment						$	1,404					$	6,703					$	564					$	280					$	8,951

Schedule of receivable by impairment methodology

						Commercial						Real Estate						Consumer						Total
Loans:
Ending balance, March 31, 2022						$	148,972					$	772,460					$	89,531					$	1,010,963
Ending balance: individually evaluated for impairment						$	2,281					$	435					$	1,043					$	3,759
Ending balance: collectively evaluated for impairment						$	146,691					$	772,025					$	88,488					$	1,007,204
Loans:
Ending balance, December 31, 2021						$	177,707					$	767,914					$	92,619					$	1,038,240
Ending balance: individually evaluated for impairment						$	7,086					$	450					$	1,050					$	8,586
Ending balance: collectively evaluated for impairment						$	170,621					$	767,464					$	91,569					$	1,029,654

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, 2022 (in thousands):

						Pass						Special Mention						Sub-Standard						Doubtful						Total
Commercial:
Commercial and industrial						$	110,393					$	3,992					$	2,542					$	—					$	116,927
Agricultural production						27,132						2,829						2,084						—						32,045
Real Estate:
Owner occupied						197,143						3,575						3,554						—						204,272
Real estate construction and other land loans						63,724						9,634						—						—						73,358
Commercial real estate						358,421						14,119						2,477						—						375,017
Agricultural real estate						88,726						5,736						—						—						94,462
Other real estate						25,351						—						—						—						25,351
Consumer:
Equity loans and lines of credit						54,660						—						46						—						54,706
Consumer and installment						34,773						16						36						—						34,825
Total						$	960,323					$	39,901					$	10,739					$	—					$	1,010,963

    The following table shows the loan portfolio by class allocated by management’s internally assigned risk grade ratings at December 31, 2021 (in thousands):

						Pass						Special Mention						Sub-Standard						Doubtful						Total
Commercial:
Commercial and industrial						$	125,537					$	8,724					$	2,586					$	—					$	136,847
Agricultural production						37,179						1,325						2,356						—						40,860
Real Estate:
Owner occupied						205,092						3,582						3,560						—						212,234
Real estate construction and other land loans						54,066						7,520						—						—						61,586
Commercial real estate						351,395						18,134						—						—						369,529
Agricultural real estate						96,949						1,532						—						—						98,481
Other real estate						26,084						—						—						—						26,084
Consumer:
Equity loans and lines of credit						55,611						9						—						—						55,620
Consumer and installment						36,942						19						38						—						36,999
Total						$	988,855					$	40,845					$	8,540					$	—					$	1,038,240

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, 2022 (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						$	—					$	—					$	—					$	—					$	116,927					$	116,927					$	—					$	292
Agricultural production						—						—						—						—						32,045						32,045						—						—
Real estate:						—																								—
Owner occupied						—						—						—						—						204,272						204,272						—						—
Real estate construction and other land loans						—						—						—						—						73,358						73,358						—						—
Commercial real estate						—						—						—						—						375,017						375,017						—						—
Agricultural real estate						—						—						—						—						94,462						94,462						—						—
Other real estate						—						—						—						—						25,351						25,351						—						—
Consumer:																														—
Equity loans and lines of credit						—						—						—						—						54,706						54,706						—						—
Consumer and installment						17						—						—						17						34,808						34,825						—						—
Total						$	17					$	—					$	—					$	17					$	1,010,946					$	1,010,963					$	—					$	292

    The following table shows an aging analysis of the loan portfolio by class and the time past due at December 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						$	1					$	—					$	—					$	1					$	136,846					$	136,847					$	—					$	312
Agricultural production						—						—						—						—						40,860						40,860						—						634
Real estate:						—
Owner occupied						—						—						—						—						212,234						212,234						—						—
Real estate construction and other land loans						—						—						—						—						61,586						61,586						—						—
Commercial real estate						—						—						—						—						369,529						369,529						—						—
Agricultural real estate						—						—						—						—						98,481						98,481						—						—
Other real estate						—						—						—						—						26,084						26,084						—						—
Consumer:
Equity loans and lines of credit						—						—						—						—						55,620						55,620						—						—
Consumer and installment						79						—						—						79						36,920						36,999						—						—
Total						$	80					$	—					$	—					$	80					$	1,038,160					$	1,038,240					$	—					$	946

Troubled debt restructurings

During the three months ended March 31, 2022, no loans were modified as troubled debt restructuring.

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
Commercial:
Commercial and Industrial						1						$	333					$	—					$	333					$	325

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

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

Troubled Debt Restructurings:

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