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Loans (Tables)

3 Months Ended

Mar. 31, 2015

Receivables [Abstract]

Loans

Loan balances as of March 31, 2015 and December 31, 2014:

		(In Thousands)
		March 31, 2015				December 31, 2014
Loans:
Commercial real estate		$	271,676			$	270,188
Agricultural real estate			51,467				50,895
Consumer real estate			97,142				97,550
Commercial and industrial			95,128				100,126
Agricultural			71,474				74,611
Consumer			23,605				24,277
Industrial Development Bonds			4,673				4,698
			615,165				622,345
Less: Net deferred loan fees and costs			(456	)			(419	)
			614,709				621,926
Less: Allowance for loan losses			(5,977	)			(5,905	)
Loans - Net		$	608,732			$	616,021

Maturity Schedule by Major Category of Loans

The following is a maturity schedule by major category of loans as of March 31, 2015:

		Maturities (In Thousands)
		Within One Year				After One Year Within Five Years				After Five Years
Consumer Real Estate		$	10,983			$	19,428			$	66,731
Agricultural Real Estate			3,713				13,800				33,954
Agricultural			40,522				26,855				4,097
Commercial Real Estate			30,529				84,230				156,917
Commercial/Industrial			55,841				34,222				5,065
Consumer			4,813				14,487				4,305
Industrial Development Bonds			2,498				127				2,048

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, 2015. 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
Consumer Real Estate		$	77,681			$	19,461
Agricultural Real Estate			37,478				13,989
Agricultural			66,318				5,156
Commercial Real Estate			187,012				84,664
Commercial/Industrial			77,104				18,024
Consumer			19,528				4,077
Industrial Development Bonds			4,505				168

Contractual Aging of Recorded Investment in Past Due Loans by Portfolio Classification 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, 2015 and December 31, 2014, net of deferred fees and costs:

		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
March 31, 2015
Consumer Real Estate		$	368			$	580			$	227			$	1,175			$	95,844			$	97,019			$	—
Agricultural Real Estate			—				—				222				222				51,174				51,396				—
Agricultural			—				—				54				54				71,517				71,571				—
Commercial Real Estate			14				—				978				992				270,209				271,201				—
Commercial and Industrial			35				—				84				119				99,776				99,895				—
Consumer			34				3				20				57				23,570				23,627				—
Total		$	451			$	583			$	1,585			$	2,619			$	612,090			$	614,709			$	—
		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
December 31, 2014
Consumer Real Estate		$	713			$	50			$	436			$	1,199			$	96,351			$	97,550			$	—
Agricultural Real Estate			—				—				—				—				50,895				50,895				—
Agricultural			25				—				—				25				74,586				74,611				—
Commercial Real Estate			78				204				709				991				269,197				270,188				—
Commercial and Industrial			—				8				—				8				104,816				104,824				—
Consumer			25				8				29				62				23,796				23,858				—
Total		$	841			$	270			$	1,174			$	2,285			$	619,641			$	621,926			$	—

Recorded Investment in Nonaccrual Loans by Portfolio Class of Loans

The following table presents the recorded investment in nonaccrual loans by class of loans as of March 31, 2015 and December 31, 2014:

		(In Thousands)
		March 31 2015				December 31 2014
Consumer Real Estate		$	703			$	628
Agricultural Real Estate			222				—
Agricultural			78				—
Commercial Real Estate			978				709
Commercial and Industrial			423				339
Consumer			20				29
Total		$	2,424			$	1,705

Risk Category of Loans by Portfolio Class

The following table represents the risk category of loans by class based on the most recent analysis performed as of March 31, 2015 and December 31, 2014:

		(In Thousands)
		Agricultural Real Estate				Agricultural				Commercial Real Estate				Commercial and Industrial				Industrial Development Bonds
March 31, 2015
1-2		$	4,829			$	9,098			$	983			$	1,817			$	—
3			16,349				25,784				33,466				15,864				4,264
4			29,674				36,611				231,346				74,948				409
5			332				54				2,423				2,179				—
6			212				—				2,274				178				—
7			—				24				709				236				—
8			—				—				—				—				—
Total		$	51,396			$	71,571			$	271,201			$	95,222			$	4,673
		Agricultural Real Estate				Agricultural				Commercial Real Estate				Commercial and Industrial				Industrial Development Bonds
December 31, 2014
1-2		$	4,319			$	11,490			$	1,072			$	1,771			$	—
3			15,780				26,871				34,229				15,582				4,289
4			30,472				36,225				225,015				80,079				409
5			111				—				7,083				2,299				—
6			213				—				2,080				165				—
7			—				25				709				230				—
8			—				—				—				—				—
Total		$	50,895			$	74,611			$	270,188			$	100,126			$	4,698

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, 2015 and December 31, 2014.

		(In Thousands)
		Consumer Real Estate				Consumer Real Estate
		March 31 2015				December 31 2014
Grade
Pass		$	96,404			$	97,007
Special Mention (5)			—				—
Substandard (6)			519				446
Doubtful (7)			96				97
Total		$	97,019			$	97,550

		(In Thousands)
		Consumer - Credit								Consumer - Other
		March 31 2015				December 31 2014				March 31 2015				December 31 2014
Performing					$				3,514									$	3,987			$	20,099			$	19,846
Nonperforming			1				—				13				25
Total		$	3,515			$	3,987			$	20,112			$	19,871

Schedule of Impaired Loans

Information about impaired loans as of March 31, 2015, December 31, 2014 and March 31, 2014 are as follows:

		(In Thousands)
		March 31, 2015				December 31, 2014				March 31, 2014
Impaired loans without a valuation allowance		$	624			$	675			$	1,116
Impaired loans with a valuation allowance			1,619				1,168				943
Total impaired loans		$	2,243			$	1,843			$	2,059
Valuation allowance related to impaired loans		$	428			$	387			$	261
Total non-accrual loans		$	2,424			$	1,705			$	2,615
Total loans past-due ninety days or more and still accruing		$	—			$	—			$	—
Quarter ended average investment in impaired loans		$	1,958			$	1,730			$	2,312
Year to date average investment in impaired loans		$	1,958			$	1,929			$	2,312

Impaired Loans Classified as Troubled Debt Restructured

The following table represents three months ended March 31, 2015.

March 31, 2015 Troubled Debt Restructurings		Number of Contracts Modified in the Last 3 Months				Pre- Modification Outstanding Recorded Investment				Post- Modification Outstanding Recorded Investment
Commercial Real Estate			1			$	528			$	430
Commercial and Industrial			1				28				24

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

March 31, 2014 Troubled Debt Restructurings

Number of Contracts Modified in the Last 3 Months

Pre- Modification Outstanding Recorded Investment

Post- Modification Outstanding Recorded Investment

Ag Real Estate

2

153

141

Loans Individually Evaluated for Impairment by Portfolio Class of Loans

The following table presents loans individually evaluated for impairment by class of loans for three months ended March 31, 2015 and March 31, 2014.

		(In Thousands)
		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized
Three Months Ended March 31, 2015
With no related allowance recorded:
Consumer real estate		$	157			$	157			$	—			$	173			$	—
Agricultural real estate			—				—				—				—				—
Agricultural			—				—				—				—				—
Commercial real estate			—				—				—				—				—
Commercial and industrial			467				467				—				469				7
Consumer			—				—				—				—				—
With a specific allowance recorded:
Consumer real estate			96				96				35				96				3
Agricultural real estate			—				—				—				—				—
Agricultural			24				24				24				24				—
Commercial real estate			1,139				1,139				131				852				—
Commercial and industrial			360				360				238				337				—
Consumer			—				—				—				7				—
Totals:
Consumer real estate		$	253			$	253			$	35			$	269			$	3
Agricultural real estate		$	—			$	—			$	—			$	—			$	—
Agricultural		$	24			$	24			$	24			$	24			$	—
Commercial real estate		$	1,139			$	1,139			$	131			$	852			$	—
Commercial and industrial		$	827			$	827			$	238			$	806			$	7
Consumer		$	—			$	—			$	—			$	7			$	—

		(In Thousands)
		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized
Three Months Ended March 31, 2014
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		$	—			$	—			$	—			$	—			$	—

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, 2015				Twelve Months Ended December 31, 2014
Allowance for Loan & Lease Losses
Balance at beginning of year		$	5,905			$	5,194
Provision for loan loss			114				1,191
Loans charged off			(92	)			(778	)
Recoveries			50				298
Allowance for Loan & Lease Losses		$	5,977			$	5,905
Allowance for Unfunded Loan Commitments & Letters of Credit		$	202			$	207
Total Allowance for Credit Losses		$	6,179			$	6,112

Analysis of Allowance for Credit Losses

Additional analysis related to the allowance for credit losses for three months ended March 31, 2015 and 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, 2015
ALLOWANCE FOR CREDIT LOSSES:
Beginning balance		$	537			$	184			$	547			$	2,367			$	1,421			$	323			$	207			$	526			$	6,112
Charge Offs			—				—				—				—				—				(92	)			—				—			$	(92	)
Recoveries			2				—				1				1				5				41				—				—			$	50
Provision (Credit)			(42	)			3				(24	)			(156	)			(7	)			12				—				328			$	114
Other Non-interest expense related to unfunded			—				—				—				—				—				—				(5	)			—			$	(5	)
Ending Balance		$	497			$	187			$	524			$	2,212			$	1,419			$	284			$	202			$	854			$	6,179
Ending balance: individually evaluated for impairment		$	35			$	—			$	24			$	131			$	238			$	—			$	—			$	—			$	428
Ending balance: collectively evaluated for impairment		$	462			$	187			$	500			$	2,081			$	1,181			$	284			$	202			$	854			$	5,751
Ending balance: loans acquired with deteriorated credit quality		$	1			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	1
FINANCING RECEIVABLES:
Ending balance		$	97,019			$	51,396			$	71,571			$	271,201			$	99,895			$	23,627			$	—			$	—			$	614,709
Ending balance: individually evaluated for impairment		$	253			$	—			$	24			$	1,139			$	827			$	—			$	—			$	—			$	2,243
Ending balance: collectively evaluated for impairment		$	96,766			$	51,396			$	71,547			$	270,062			$	99,068			$	23,627			$	—			$	—			$	612,466
Ending balance: loans acquired with deteriorated credit quality		$	520			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	520

		(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

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