XML 22 R12.htm IDEA: XBRL DOCUMENT v3.22.2
Troubled Debt Restructurings
6 Months Ended
Jun. 30, 2022
Troubled Debt Restructuring [Abstract]  
Troubled Debt Restructurings

NOTE 5 – Troubled Debt Restructurings

 

At June 30, 2022, the Company had 13 loans totaling $5.8 million compared to 14 loans totaling $6.3 million at December 31, 2021, which were 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 the workout plan for individual loan relationships, the Company may restructure loan terms to assist borrowers facing financial challenges in the current economic environment.

 

The were no renewals or modifications to any loans considered TDRs during the three and six months ended June 30, 2022. For the three and six months ended June 30, 2021, renewals and modifications were not material.

 

As of June 30, 2022 and 2021, there were no loans modified as a TDR for which there was a payment default (60 days past due) within 12 months of the restructuring date.