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Troubled Debt Restructurings | 12 Months Ended
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Dec. 31, 2019
Troubled Debt Restructurings [Abstract] |
Troubled Debt Restructurings | NOTE 5 – Troubled Debt Restructurings At December 31, 2019, we had 19 loans totaling $9.3 million and at December 31, 2018 we had 26 loans totaling $9.3 million, which we considered as TDRs. The Company considers a loan to be a TDR when the debtor experiences financial difficulties and the Company grants a concession to the debtor that it would not normally consider. Concessions can relate to the contractual interest rate, maturity date, or payment structure of the note. As part of our workout plan for individual loan relationships, we may restructure loan terms to assist borrowers facing challenges in the current economic environment. During 2019, we have added one commercial loan totaling $1.8 million as TDRs and removed nine loans from TDR status due to pay-offs or in accordance with our nonperforming loans and TDR policies. To date, we have restored five nonaccrual commercial loans previously classified as TDRs to accrual status. The following table summarizes the concession at the time of modification and the recorded investment in our TDRs before and after their modification.
|  | For the year ended December 31, 2019
|  |  |  |  |  |  |  |  |  |  |  | Pre- |  | Post-
|  |  |  |  |  |  |  |  |  |  |  | modification |  | modification
|  | Renewals |  | Reduced |  | Converted |  | Maturity |  | Total |  | outstanding |  | outstanding
|  | deemed a |  | or deferred |  | to interest |  | date |  | number |  | recorded |  | recorded
(dollars in thousands) |  | concession |  | payments |  | only |  | extensions |  | of loans |  | investment |  | Investment
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Business |  | 1 |  | - |  | - |  | - |  | 1 |  | $ | 1,823 |  | $ | 1,823
Total loans |  | 1 |  | 1 |  | - |  | - |  | 1 |  | $ | 1,823 |  | $ | 1,823
|  | For the year ended December 31, 2018
|  |  |  |  |  |  |  |  |  |  |  | Pre- |  | Post-
|  |  |  |  |  |  |  |  |  |  |  | modification |  | modification
|  | Renewals |  | Reduced |  | Converted |  | Maturity |  | Total |  | outstanding |  | outstanding
|  | deemed a |  | or deferred |  | to interest |  | date |  | number |  | recorded |  | recorded
|  | concession |  | payments |  | only |  | extensions |  | of loans |  | investment |  | Investment
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied RE |  | 1 |  | - |  | - |  | - |  | 1 |  | $ | 506 |  | $ | 592
Non-owner occupied RE |  | - |  | 1 |  | - |  | - |  | 1 |  |  | 1,287 |  |  | 1,287
Business |  | 4 |  | - |  | - |  | - |  | 4 |  |  | 1,207 |  |  | 1,532
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate |  | 2 |  | - |  | - |  | - |  | 2 |  |  | 549 |  |  | 669
Total loans |  | 7 |  | 1 |  | - |  | - |  | 8 |  | $ | 3,549 |  | $ | 4,080
As of December 31, 2019 and 2018 there were no loans modified as TDRs for which there was a payment default (60 days past due) within 12 months of the restructuring date.

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- Definition Disclosure of the accounting policy for loan agreements whose terms have been modified because of the inability of the borrower for financial reasons to comply with the terms of the original loan agreement. A creditor discloses material facts pertaining to significant modifications. + References No definition available. + Details
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