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Allowance for Loans Losses (Tables)

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

Summary of Allowance for Loans Losses

A summary of changes in the allowance for loans losses for the six months ended June 30, 2020 and year ended December 31, 2019 is as follows:

	June 30, 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		(574	)			(914	)
Total charge-offs		(574	)			(961	)
Recoveries
Commercial and industrial	$	1			$	—
Real estate, mortgage		—				6
Consumer and other loans		132				205
Total recoveries		133				211
Net charge-offs		(441	)			(750	)
Provision for loan losses		4,075				1,742
Allowance, end of period	$	8,206			$	4,572

Summary of Loan Portfolio Individually and Collectively Evaluated for Impairment

(in thousands)	Individually Evaluated for Impairment				Collectively Evaluated for Impairment				Total
June 30, 2020
Commercial and industrial	$	259			$	436,901			$	437,160
Real Estate – construction, commercial		—				45,777				45,777
Real Estate – construction, residential		—				23,406				23,406
Real Estate – mortgage, commercial		338				263,455				263,793
Real Estate – mortgage, residential		767				211,235				212,002
Real Estate – mortgage, farmland		—				4,803				4,803
Consumer installment loans		—				44,897				44,897
Gross loans		1,364				1,030,474				1,031,838
Less: Unearned income		—				(10,373	)			(10,373	)
Total	$	1,364			$	1,020,101			$	1,021,465
(in thousands)	Individually Evaluated for Impairment				Collectively Evaluated for Impairment				Total
December 31, 2019
Commercial and industrial	$	280			$	77,448			$	77,728
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.

	June 30, 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	$	767			$	767			$	—			$	581			$	—
With an allowance recorded:
Commercial and industrial		259				259				81				265				1
Real estate – mortgage, commercial		338				338				98				376				2
	$	1,364			$	1,364			$	179			$	1,222			$	3

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 June 30, 2020 and December 31, 2019 (in thousands):

	June 30, 2020				December 31, 2019
Real Estate
Construction loans and all land development and other land    loans	$	908			$	1,397
Revolving, open-end loans secured by 1-4 family residential    properties and extended under lines of credit		2,631				2,709
Secured by first liens		5,896				6,971
Secured by junior liens		385				394
Secured by multifamily (five or more) residential properties		58				63
Loans secured by owner-occupied, nonfarm nonresidential    properties		4,046				4,459
Loans secured by other nonfarm nonresidential properties		—				2,322
Commercial and Industrial		906				1,272
Other
Other revolving credit plans		19				26
Automobile loans		8				10
Other consumer loans		53				63
Total	$	14,910			$	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 June 30, 2020 and December 31, 2019:

	June 30, 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	$	351,175			$	1,264			$	35,962			$	39,454			$	7,636			$	876			$	793			$	437,160
Real Estate – construction, commercial		—				2,027				25,410				17,295				101				—				944				45,777
Real Estate – construction, residential		—				—				6,730				13,043				3,633				—				—				23,406
Real Estate – mortgage, commercial		—				3,897				132,939				113,272				9,421				1,777				2,487				263,793
Real Estate – mortgage residential		—				3,394				103,560				99,957				3,073				246				1,772				212,002
Real Estate – mortgage, farmland		933				50				1,674				2,146				—				—				—				4,803
Consumer installment loans		285				43				17,746				25,970				157				4				692				44,897
Gross loans		352,393				10,675				324,021				311,137				24,021				2,903				6,688				1,031,838
Less: Unearned income																														(10,373	)
Total																													$	1,021,465
	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			$	1,042			$	35,180			$	37,458			$	568			$	1,488			$	483			$	77,728
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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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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