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LOANS (Tables)

3 Months Ended

Mar. 31, 2014

Receivables [Abstract]

Loans

Loan balances as of March 31, 2014 and December 31, 2013:

		(In Thousands)
Loans:		March 31, 2014				December 31, 2013
Commercial real estate		$	261,634			$	248,893
Agricultural real estate			49,629				44,301
Consumer real estate			91,368				92,438
Commercial and industrial			90,024				99,498
Agricultural			64,859				65,449
Consumer			21,322				21,406
Industrial Development Bonds			4,334				4,358
			583,170				576,343
Less: Net deferred loan fees and costs			(298	)			(230	)
			582,872				576,113
Less: Allowance for loan losses			(5,325	)			(5,194	)
Loans - Net		$	577,547			$	570,919

Maturity Schedule by Major Category of Loans

The following is a maturity schedule by major category of loans as of March 31, 2014:

		Maturities (In Thousands)
		Within One Year				After One Year Within Five Years				After Five Years
Commercial Real Estate		$	46,874			$	98,903			$	115,857
Agricultural Real Estate			2,986				15,099				31,544
Consumer Real Estate			9,786				16,834				64,748
Commercial/Industrial			49,684				34,923				5,417
Agricultural			40,408				20,987				3,464
Consumer			5,316				12,318				3,688
Industrial Development Bonds			1,933				542				1,859

Distribution of Fixed Rate Loans and Variable Rate Loans by Major Loan Category

The distribution of fixed rate loans and variable rate loans by major loan category is as follows as of March 31, 2014. Variable rate loans whose current rates are equal to their floor or ceiling are classified as fixed in this table.

		(In Thousands)
		Fixed Rate				Variable Rate
Commercial Real Estate		$	170,058			$	91,576
Agricultural Real Estate			35,240				14,389
Consumer Real Estate			74,606				16,762
Commercial/Industrial			68,909				21,115
Agricultural			60,876				3,983
Consumer			17,194				4,128
Industrial Development Bonds			4,137				197

Contractual Aging of Recorded Investment in Past Due Loans by Portfolio Segment of Loans

The following table represents the contractual aging of the recorded investment in past due loans by portfolio segment of loans as of March 31, 2014 and December 31, 2013, net of deferred fees:

		(In Thousands)
March 31, 2014		30-59 Days Past Due				60-89 Days Past Due				Greater Than 90 Days				Total Past Due				Current				Total Financing Receivables				Recorded Investment > 90 Days and Accruing
Consumer Real Estate		$	784			$	—			$	116			$	900			$	90,468			$	91,368			$	—
Agricultural Real Estate			—				—				—				—				49,629				49,629				—
Agricultural			—				5				—				5				64,854				64,859				—
Commercial Real Estate			1,102				94				32				1,228				260,406				261,634				—
Commercial and Industrial			62				41				—				103				94,255				94,358				—
Consumer			32				—				—				32				20,992				21,024				—
Total		$	1,980			$	140			$	148			$	2,268			$	580,604			$	582,872			$	—
December 31, 2013		30-59 Days Past Due				60-89 Days Past Due				Greater Than 90 Days				Total Past Due				Current				Total Financing Receivables				Recorded Investment > 90 Days and Accruing
Consumer Real Estate		$	778			$	—			$	234			$	1,012			$	91,426			$	92,438			$	—
Agricultural Real Estate			—				—				—				—				44,301				44,301				—
Agricultural			—				—				—				—				65,449				65,449				—
Commercial Real Estate			—				—				373				373				248,520				248,893				—
Commercial and Industrial			—				—				26				26				103,830				103,856				—
Consumer			28				2				—				30				21,146				21,176				—
Total		$	806			$	2			$	633			$	1,441			$	574,672			$	576,113			$	—

Recorded Investment in Nonaccrual Loans by Portfolio Segment of Loans

The following table presents the recorded investment in nonaccrual loans by class of loans as of March 31, 2014 and December 31, 2013:

		(In Thousands)
		March 31				December 31
		2014				2013
Consumer Real Estate		$	379			$	483
Agricultural Real Estate			—				—
Agricultural			—				—
Commercial Real Estate			1,875				2,436
Commercial and Industrial			361				410
Consumer			—				—
Total		$	2,615			$	3,329

Risk Category of Loans by Portfolio Segment

The following table represents the risk category of loans by class based on the most recent analysis performed as of March 31, 2014 and December 31, 2013:

		(In Thousands)
		Agricultural Real Estate				Agricultural				Commercial Real Estate				Commercial and Industrial				Industrial Development Bonds
March 31, 2014
1-2		$	3,510			$	6,803			$	1,113			$	1,817			$	—
3			15,139				25,732				53,771				20,615				3,845
4			30,363				32,304				199,701				64,399				489
5			584				20				1,978				2,074				—
6			33				—				5,039				717				—
7							—				32				402				—
8			—				—				—				—				—
Total		$	49,629			$	64,859			$	261,634			$	90,024			$	4,334
		Agricultural Real Estate				Agricultural				Commercial Real Estate				Commercial and Industrial				Industrial Development Bonds
December 31, 2013
1-2		$	3,764			$	9,263			$	1,104			$	2,525			$	—
3			14,588				27,212				55,060				21,610				3,869
4			25,186				28,974				182,277				72,059				489
5			729				—				4,987				2,119				—
6			34				—				5,092				758				—
7			—				—				373				427				—
8			—				—				—				—				—
Total		$	44,301			$	65,449			$	248,893			$	99,498			$	4,358

Recorded Investment in Those Classes Based on Payment Activity and Assigned Risk Grading

The following tables present the recorded investment in those classes based on payment activity and assigned risk grading as of March 31, 2014 and December 31, 2013.

		(In Thousands)
		Consumer Real Estate				Consumer Real Estate
		March 31 2014				December 31 2013
Grade
Pass		$	91,178			$	92,226
Special Mention (5)			—				—
Substandard (6)			81				18
Doubtful (7)			109				194
Total		$	91,368			$	92,438

		(In Thousands)
		Consumer - Credit								Consumer - Other
		March 31 2014				December 31 2013				March 31 2014				December 31 2013
Performing		$	3,497			$	3,721			$	17,507			$	17,425
Nonperforming			—				—				20				30
Total		$	3,497			$	3,721			$	17,527			$	17,455

Schedule of Impaired Loans

Information about impaired loans as of March 31, 2014, December 31, 2013 and March 31, 2013 are as follows:

		(In Thousands)
		March 31, 2014				December 31, 2013				March 31, 2013
Impaired loans without a valuation allowance		$	1,116			$	924			$	1,119
Impaired loans with a valuation allowance			943				1,516				3,025
Total impaired loans		$	2,059			$	2,440			$	4,144
Valuation allowance related to impaired loans		$	261			$	516			$	860
Total non-accrual loans		$	2,615			$	3,329			$	4,582
Total loans past-due ninety days or more and still accruing		$	—			$	—			$	3
Quarter ended average investment in impaired loans		$	2,312			$	2,532			$	4,321
Year to date average investment in impaired loans		$	2,312			$	3,274			$	4,321

Impaired Loans Classified as Troubled Debt Restructured

The following table represents three months ended March 31, 2014.

(In Thousands)

Pre-

Post-

Number of

Modification

Modification

March 31, 2014

Contracts

Outstanding

Outstanding

Modified in the

Recorded

Recorded

Troubled Debt Restructurings

Last 3 Months

Investment

Investment

Ag Real Estate

2

$

153

$

141

Number of

Contracts

Troubled Debt Restructurings

Modified in the

Recorded

That Subsequently Defaulted

Last 3 Months

Investment

Commercial Real Estate

—

$

—

Ag Real Estate

—

$

—

Commercial and Industrial

—

$

—

The following table represents three months ended March 31, 2013.

(In Thousands)

Pre-

Post-

Number of

Modification

Modification

March 31, 2013

Contracts

Outstanding

Outstanding

Modified in the

Recorded

Recorded

Troubled Debt Restructurings

Last 3 Months

Investment

Investment

Commercial and Industrial

1

$

81

$

43

Number of

Contracts

Troubled Debt Restructurings

Modified in the

Recorded

That Subsequently Defaulted

Last 3 Months

Investment

Commercial Real Estate

—

$

—

Ag Real Estate

—

$

—

Commercial and Industrial

—

$

—

Loans Individually Evaluated for Impairment by Portfolio Segment of Loans

The following table presents loans individually evaluated for impairment by class of loans for three months ended

March 31, 2014

		(In Thousands)
Three Months Ended March 31, 2014		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized
With no related allowance recorded:
Consumer real estate		$	72			$	72			$	—			$	145			$	—
Agricultural real estate			141				141				—				328				—
Agricultural			—				—				—				—				—
Commercial real estate			904				904				—				2,112				14
Commercial and industrial			—				—				—				25				9
Consumer			—				—				—				—				—
With a specific allowance recorded:
Consumer real estate			109				109				44				523				1
Agricultural real estate			—				—				—				177				—
Agricultural			—				—				—				—				—
Commercial real estate			481				481				107				284				—
Commercial and industrial			352				352				110				1,968				7
Consumer			—				—				—				—				—
Totals:
Consumer real estate		$	181			$	181			$	44			$	668			$	1
Agricultural real estate		$	141			$	141			$	—			$	505			$	—
Agricultural		$	—			$	—			$	—			$	—			$	—
Commercial real estate		$	1,385			$	1,385			$	107			$	2,396			$	14
Commercial and industrial		$	352			$	352			$	110			$	1,993			$	16
Consumer		$	—			$	—			$	—			$	—			$	—

		(In Thousands)
Three Months Ended March 31, 2013		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized
With no related allowance recorded:
Consumer real estate		$	33			$	33			$	—			$	60			$	1
Agricultural real estate			—				—				—				—				—
Agricultural			—				—				—				—				—
Commercial real estate			801				1,225				—				207				—
Commercial and industrial			285				285				—				286				—
Consumer			—				—				—				—				—
With a specific allowance recorded:															—
Consumer real estate			277				349				79				131				3
Agricultural real estate			—				—				—				—				—
Agricultural			—				—				—				—				—
Commercial real estate			44				64				29				650				—
Commercial and industrial			2,704				2,704				751				2,743				—
Consumer			—				—				—				—				—
Totals:
Consumer real estate		$	310			$	382			$	79			$	191			$	4
Agricultural real estate		$	—			$	—			$	—			$	—			$	—
Agricultural		$	—			$	—			$	—			$	—			$	—
Commercial real estate		$	845			$	1,289			$	29			$	857			$	—
Commercial and industrial		$	2,989			$	2,989			$	751			$	3,029			$	—
Consumer		$	—			$	—			$	—			$	—			$	—

Summary of Activities in Allowance for Credit Losses

The following tables summarize the activities in the allowance for credit losses.

		(In Thousands)
		Three Months Ended March 31, 2014				Twelve Months Ended December 31, 2013
Allowance for Loan Losses
Balance at beginning of year		$	5,194			$	5,224
Provision for loan loss			428				858
Loans charged off			(366	)			(1,262	)
Recoveries			69				374
Allowance for Loan & Lease Losses		$	5,325			$	5,194
Allowance for Unfunded Loan Commitments & Letters of Credit		$	180			$	163
Total Allowance for Credit Losses		$	5,505			$	5,357

Analysis of Allowance for Credit Losses

Additional analysis related to the allowance for credit losses for three months ended March 31, 2014 is as follows:

		(In Thousands)
		Consumer Real Estate				Agricultural Real Estate				Agricultural				Commercial Real Estate				Commercial and Industrial				Consumer				Unfunded Loan Commitment & Letters of Credit				Unallocated				Total
Three Months Ended March 31, 2014
ALLOWANCE FOR CREDIT LOSSES:
Beginning balance		$	257			$	131			$	326			$	2,107			$	1,359			$	292			$	163			$	722			$	5,357
Charge Offs			(64	)			—				—				(201	)			—				(101	)			—				—			$	(366	)
Recoveries			10				—				1				2				5				51				—				—			$	69
Provision (Credit)			199				—				(3	)			50				(34	)			28				—				188			$	428
Other Non-interest expense related to unfunded			—				—				—				—				—				—				17				—			$	17
Ending Balance		$	402			$	131			$	324			$	1,958			$	1,330			$	270			$	180			$	910			$	5,505
Ending balance: individually evaluated for impairment		$	44			$	—			$	—			$	107			$	110			$	—			$	—			$	—			$	261
Ending balance: collectively evaluated for impairment		$	358			$	131			$	324			$	1,851			$	1,220			$	270			$	180			$	910			$	5,244
Ending balance: loans acquired with deteriorated credit quality		$	2			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	2
FINANCING RECEIVABLES:
Ending balance		$	91,368			$	49,629			$	64,859			$	261,634			$	94,358			$	21,024			$	—			$	—			$	582,872
Ending balance: individually evaluated for impairment		$	181			$	141			$	—			$	1,385			$	352			$	—			$	—			$	—			$	2,059
Ending balance: collectively evaluated for impairment		$	91,187			$	49,488			$	64,859			$	260,249			$	94,006			$	21,024			$	—			$	—			$	580,813
Ending balance: loans acquired with deteriorated credit quality		$	536			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	536

		(In Thousands)
		Consumer Real Estate				Agricultural Real Estate				Agricultural				Commercial Real Estate				Commercial and Industrial				Consumer				Unfunded Loan Commitment & Letters of Credit				Unallocated				Total
Three Months Ended March 31, 2013
ALLOWANCE FOR CREDIT LOSSES:
Beginning balance		$	368			$	113			$	290			$	1,749			$	2,183			$	268			$	162			$	253			$	5,386
Charge Offs			(10	)			—				—				(20	)			—				(86	)			—				—			$	(116	)
Recoveries			4				—				1				—				15				49				—				—			$	69
Provision (Credit)			101				(8	)			(31	)			(163	)			(226	)			25				—				469			$	167
Other Non-interest expense related to unfunded			—				—				—				—				—				—				10				—			$	10
Ending Balance		$	463			$	105			$	260			$	1,566			$	1,972			$	256			$	172			$	722			$	5,516
Ending balance: individually evaluated for impairment		$	79			$	—			$	—			$	29			$	752			$	—			$	—			$	—			$	860
Ending balance: collectively evaluated for impairment		$	384			$	105			$	260			$	1,537			$	1,220			$	256			$	172			$	722			$	4,656
Ending balance: loans acquired with deteriorated credit quality		$	2			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	2
FINANCING RECEIVABLES:
Ending balance		$	77,160			$	35,898			$	51,896			$	209,601			$	90,981			$	19,292			$	—			$	—			$	484,828
Ending balance: individually evaluated for impairment		$	310			$	—			$	—			$	845			$	2,990			$	—			$	—			$	—			$	4,145
Ending balance: collectively evaluated for impairment		$	76,850			$	35,898			$	51,896			$	208,756			$	87,991			$	19,292			$	—			$	—			$	480,683
Ending balance: loans acquired with deteriorated credit quality		$	556			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	556

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