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Loans and Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Outstanding loans

Outstanding loans are summarized as follows:

Loan Type (Dollars in thousands)						June 30, 2022						% of Total Loans						December 31, 2021						% of Total Loans
Commercial:
Commercial and industrial						$	115,037					10.1		%				$	136,847					13.2		%
Agricultural production						41,039						3.6		%				40,860						3.9		%
Total commercial						156,076						13.7		%				177,707						17.1		%
Real estate:
Owner occupied						199,116						17.5		%				212,234						20.4		%
Real estate construction and other land loans						83,561						7.4		%				61,586						5.9		%
Commercial real estate						409,496						36.1		%				369,529						35.6		%
Agricultural real estate						105,330						9.3		%				98,481						9.5		%
Other real estate						89,484						7.9		%				26,084						2.5		%
Total real estate						886,987						78.2		%				767,914						73.9		%
Consumer:
Equity loans and lines of credit						56,759						5.0		%				55,620						5.4		%
Consumer and installment						34,866						3.1		%				36,999						3.6		%
Total consumer						91,625						8.1		%				92,619						9.0		%
Net deferred origination fees						1,276												871
Total gross loans						1,135,964						100.0		%				1,039,111						100.0		%
Allowance for credit losses						(9,873)												(9,600)
Total loans						$	1,126,091											$	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 June 30, 2022 and 2021 (in thousands).

						Three Months Ended June 30, 2022												Three Months Ended June 30, 2021
						Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
With no related allowance recorded:
Real estate:
Real estate construction and other land loans						$	—					$	—					$	333					$	5
Commercial real estate						—						—						490						—
Total real estate						—						—						823						5
Consumer:
Equity loans and lines of credit						1,036						16						142						3
Total with no related allowance recorded						1,036						16						965						8
With an allowance recorded:
Commercial:
Commercial and industrial						2,270						28						5,831						67
Agricultural production						—						—						1,328						—
Total commercial						2,270						28						7,159						67
Real estate:
Real estate construction and other land loans						—						—						746						—
Commercial real estate						132						2						144						2
Agricultural real estate						21						—						30						1
Total real estate						153						2						920						3
Consumer:
Equity loans and lines of credit						—						—						928						14
Total consumer						—						—						928						14
Total with an allowance recorded						2,423						30						9,007						84
Total						$	3,459					$	46					$	9,972					$	92

						Six Months Ended June 30, 2022												Six Months Ended June 30, 2021
						Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
With no related allowance recorded:
Commercial:
Commercial and industrial						$	82					$	—					$	9					$	—
Agricultural land and production						47						—						—						—
Total commercial						129						—						9						—
Real estate:
Owner occupied						—						—						103						—
Real estate construction and other land loans						—						—						201						11
Commercial real estate						—						—						498						—
Total real estate						—						—						802						11
Consumer:
Equity loans and lines of credit						522						32						142						6
Total with no related allowance recorded						651						32						953						17
With an allowance recorded:
Commercial:
Commercial and industrial						2,875						55						6,475						153
Agricultural land and production						91						—						969						—
Total commercial						2,966						55						7,444						153
Real estate:
Real estate construction and other land loans						163						—						1,077						—
Commercial real estate						134						4						145						5
Agricultural real estate						21						1						30						1
Total real estate						318						5						1,252						6
Consumer:
Equity loans and lines of credit						520						—						931						27
Consumer and installment						—						—						25						—
Total consumer						520						—						956						27
Total with an allowance recorded						3,804						60						9,652						186
Total						$	4,455					$	92					$	10,605					$	203

Foregone interest on nonaccrual loans totaled $57,000 and $72,000 for the six month period ended June 30, 2022 and 2021, respectively. Foregone interest on nonaccrual loans totaled 53,000 and 34,000 for the three month period ended June 30, 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 June 30, 2022 and 2021 by portfolio segment (in thousands):

						Commercial						Real Estate						Consumer						Unallocated						Total
Allowance for credit losses:
Beginning balance, April 01, 2022						$	1,993					$	7,048					$	525					$	298					$	9,864
(Reversal) provision charged to operations						(30)						(54)						245						(161)						—
Charge-offs						—						—						(16)						—						(16)
Recoveries						10						—						15						—						25
Ending balance, June 30, 2022						$	1,973					$	6,994					$	769					$	137					$	9,873
Allowance for credit losses:
Beginning balance, April 1, 2021						$	2,483					$	8,352					$	888					$	333					$	12,056
Reversal 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

The following table shows the summary of activities for the Allowance as of and for the six months ended June 30, 2022 and 2021 by portfolio segment (in thousands):

						Commercial						Real Estate						Consumer						Unallocated						Total
Allowance for credit losses:
Beginning balance, January 1, 2022						$	2,011					$	6,741					$	568					$	280					$	9,600
Reversal charged to operations						(387)						253						277						(143)						—
Losses charged to allowance						(17)						—						(100)						—						(117)
Recoveries						366						—						24						—						390
Ending balance, June 30, 2022						$	1,973					$	6,994					$	769					$	137					$	9,873
Allowance for credit losses:
Beginning balance, January 1, 2021						$	2,019					$	9,174					$	1,091					$	631					$	12,915
Provision (reversal) charged to operations						(439)						(2,443)						(138)						(280)						(3,300)
Losses charged to allowance						(31)						—						(197)						—						(228)
Recoveries						661						319						72						—						1,052
Ending balance, June 30, 2021						$	2,210					$	7,050					$	828					$	351					$	10,439

    The following is a summary of the Allowance by impairment methodology and portfolio segment as of June 30, 2022 and December 31, 2021 (in thousands):

						Commercial						Real Estate						Consumer						Unallocated						Total
Allowance for credit losses:
Ending balance, June 30, 2022						$	1,973					$	6,994					$	769					$	137					$	9,873
Ending balance: individually evaluated for impairment						$	533					$	7					$	—					$	—					$	540
Ending balance: collectively evaluated for impairment						$	1,440					$	6,987					$	769					$	137					$	9,333
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, June 30, 2022						$	156,076					$	886,987					$	91,625					$	1,134,688
Ending balance: individually evaluated for impairment						$	2,261					$	152					$	1,034					$	3,447
Ending balance: collectively evaluated for impairment						$	153,815					$	886,835					$	90,591					$	1,131,241
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 June 30, 2022 (in thousands):

						Pass						Special Mention						Sub-Standard						Doubtful						Total
Commercial:
Commercial and industrial						$	108,609					$	3,930					$	2,498					$	—					$	115,037
Agricultural production						35,986						2,875						2,178						—						41,039
Real Estate:
Owner occupied						192,260						3,314						3,542						—						199,116
Real estate construction and other land loans						71,997						11,564						—						—						83,561
Commercial real estate						404,162						2,878						2,456						—						409,496
Agricultural real estate						95,395						9,935						—						—						105,330
Other real estate						89,484						—						—						—						89,484
Consumer:
Equity loans and lines of credit						56,713						—						46						—						56,759
Consumer and installment						34,817						13						36						—						34,866
Total						$	1,089,423					$	34,509					$	10,756					$	—					$	1,134,688

    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 June 30, 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						$	—					$	—					$	—					$	—					$	115,037					$	115,037					$	—					$	271
Agricultural production						—						—						—						—						41,039						41,039						—						—
Real estate:						—																								—
Owner occupied						—						—						—						—						199,116						199,116						—						—
Real estate construction and other land loans						—						—						—						—						83,561						83,561						—						—
Commercial real estate						—						—						—						—						409,496						409,496						—						—
Agricultural real estate						—						—						—						—						105,330						105,330						—						—
Other real estate						—						—						—						—						89,484						89,484						—						—
Consumer:																														—
Equity loans and lines of credit						145						—						—						145						56,614						56,759						—						—
Consumer and installment						62						—						—						62						34,804						34,866						—						—
Total						$	207					$	—					$	—					$	207					$	1,134,481					$	1,134,688					$	—					$	271

    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 six months ended June 30, 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 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
Commercial:
Commercial and Industrial						1						$	333					$	—					$	333					$	317

(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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