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Allowance for Loans Losses (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Summary of Allowance for Loans Losses

A summary of changes in the allowance for loans losses for March 31, 2020 and December 31, 2019 is as follows:

	March 31, 2020				December 31, 2019
(in thousands)
Allowance, beginning of period	$	4,572			$	3,580
Charge-Offs
Commercial and industrial	$	—			$	(43	)
Real estate, mortgage		—				(4	)
Consumer and other loans		(319	)			(914	)
Total charge-offs		(319	)			(961	)
Recoveries
Commercial and industrial	$	1			$	—
Real estate, mortgage		—				6
Consumer and other loans		68				205
Total recoveries		69				211
Net charge-offs		(250	)			(750	)
Provision for loan losses		575				1,742
Allowance, end of period	$	4,897			$	4,572

Summary of Loan Portfolio Individually and Collectively Evaluated for Impairment

(in thousands)	Individually Evaluated for Impairment				Collectively Evaluated for Impairment				Total
March 31, 2020
Commercial and industrial	$	270			$	81,907			$	82,177
Agricultural		—				309				309
Real Estate – construction, commercial		—				42,527				42,527
Real Estate – construction, residential		—				27,152				27,152
Real Estate – mortgage, commercial		412				256,131				256,543
Real Estate – mortgage, residential		395				214,760				215,155
Real Estate – mortgage, farmland		—				5,394				5,394
Consumer installment loans		—				42,409				42,409
Gross loans		1,077				670,589				671,666
Less: Unearned income		—				(731	)			(731	)
Total	$	1,077			$	669,858			$	670,935
(in thousands)	Individually Evaluated for Impairment				Collectively Evaluated for Impairment				Total
December 31, 2019
Commercial and industrial	$	280			$	77,002			$	77,282
Agricultural		—				446				446
Real Estate – construction, commercial		—				38,039				38,039
Real Estate – construction, residential		—				26,778				26,778
Real Estate – mortgage, commercial		733				251,091				251,824
Real Estate – mortgage residential		395				208,099				208,494
Real Estate – mortgage, farmland		—				5,507				5,507
Consumer installment loans		—				39,202				39,202
Gross loans		1,408				646,164				647,572
Less: Unearned income		—				(738	)			(738	)
Total	$	1,408			$	645,426			$	646,834

Summary of Impaired Financing Receivables

The following table presents information related to impaired loans, by portfolio segment, at the dates presented.

	March 31, 2020
(in thousands)	Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized
With no specific allowance recorded:
Real estate – mortgage, residential	$	395			$	395			$	—			$	395			$	—
With an allowance recorded:
Commercial and industrial		270				270				135				275				1
Real estate – mortgage, commercial		412				412				96				573				4
	$	1,077			$	1,077			$	231			$	1,243			$	5

Note 5 – Allowance for Loans Losses, continued

	December 31, 2019
(in thousands)	Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized
With no specific allowance recorded:
Real estate – mortgage, residential	$	395			$	395			$	—			$	527			$	7
With an allowance recorded:
Commercial and industrial		280				280				143				286				2
Real estate – mortgage, commercial		733				733				98				734				5
	$	1,408			$	1,408			$	241			$	1,547			$	14

Summary of Purchased Loans

The following table presents the recorded investment in the segments of the River Bancorp, Inc. purchased loans as of March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020				December 31, 2019
Real Estate
Construction loans and all land development and other land    loans	$	917			$	1,397
Revolving, open-end loans secured by 1-4 family residential    properties and extended under lines of credit		2,770				2,709
Secured by first liens		6,240				6,971
Secured by junior liens		175				394
Secured by multifamily (5 or more) residential properties		61				63
Loans secured by owner-occupied, nonfarm nonresidential    properties		4,210				4,459
Loans secured by other nonfarm nonresidential properties		544				2,322
Commercial and Industrial		1,152				1,272
Other
Other revolving credit plans		23				26
Automobile loans		9				10
Other consumer loans		57				63
Total	$	16,158			$	19,686

Summary of Accounts Notes Loans and Financing Receivable

The following table presents the Company’s loan portfolio by internal loan grade (in thousands) as of March 31, 2020 and December 31, 2019:

	March 31, 2020
	Grade 1 Prime				Grade 2 Desirable				Grade 3 Good				Grade 4 Acceptable				Grade 5 Pass/Watch				Grade 6 Special Mention				Grade 7 Substandard				Total
Commercial and industrial	$	1,618			$	1,428			$	35,586			$	41,167			$	926			$	883			$	569			$	82,177
Agricultural		—				104				139				66				—				—				—				309
Real Estate – construction, commercial		—				1,563				25,044				14,865				102				—				953				42,527
Real Estate – construction, residential		—				—				9,359				14,174				3,619				—				—				27,152
Real Estate – mortgage, commercial		—				3,675				125,197				114,441				9,193				1,444				2,593				256,543
Real Estate – mortgage residential		—				3,570				103,297				103,716				2,987				249				1,336				215,155
Real Estate – mortgage, farmland		1,410				116				1,702				2,166				—				—				—				5,394
Consumer installment loans		373				54				17,627				23,524				110				—				721				42,409
Gross loans		3,401				10,510				317,951				314,119				16,937				2,576				6,172				671,666
Less: Unearned income																														(731	)
Total																													$	670,935
	December 31, 2019
	Grade 1 Prime				Grade 2 Desirable				Grade 3 Good				Grade 4 Acceptable				Grade 5 Pass/Watch				Grade 6 Special Mention				Grade 7 Substandard				Total
Commercial and industrial	$	1,509			$	924			$	35,012			$	37,298			$	568			$	1,488			$	483			$	77,282
Agricultural		—				118				168				160				—				—				—				446
Real Estate – construction, commercial		—				1,454				24,667				10,850				102				—				966				38,039
Real Estate – construction, residential		—				139				9,355				14,331				2,953				—				—				26,778
Real Estate – mortgage, commercial		—				4,971				118,488				114,598				9,273				1,935				2,559				251,824
Real Estate – mortgage residential		—				4,611				100,665				98,116				3,470				130				1,502				208,494
Real Estate – mortgage, farmland		1,467				134				1,736				2,170				—				—				—				5,507
Consumer installment loans		293				72				17,872				20,067				116				—				782				39,202
Gross loans		3,269				12,423				307,963				297,590				16,482				3,553				6,292				647,572
Less: Unearned income																														(738	)
Total																													$	646,834

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Tabular disclosure of allowance for credit loss on financing receivable.

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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
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-SubTopic 10
-Section 50
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