XML 51 R34.htm IDEA: XBRL DOCUMENT

Loans (Tables)

12 Months Ended

Dec. 31, 2020

Loans at December 31 are summarized below:

	(In Thousands)
Loans:	2021			2020
Consumer Real Estate	$	395,873		$	175,588
Agricultural Real Estate		198,343			189,159
Agricultural		118,368			94,358
Commercial Real Estate		848,477			588,825
Commercial and Industrial		208,270			189,246
Consumer		57,737			52,540
Other		32,089			15,757
	$	1,859,157		$	1,305,473
Less: Net deferred loan fees and costs		(1,738	)		(2,483	)
		1,857,419			1,302,990
Less: Allowance for loan losses		(16,242	)		(13,672	)
Loans - Net	$	1,841,177		$	1,289,318

Contractual Maturity Schedule by Major Category of Loans Excluding Fair Value Adjustments

The following is a maturity schedule by major category of loans excluding fair value adjustments at December 31, 2021:

	(In Thousands)
			After One
	Within		Year Within		After
	One Year		Five Years		Five Years		Total
Consumer Real Estate	$	8,878	$	35,921	$	355,631	$	400,430
Agricultural Real Estate		5,279		5,020		188,486		198,785
Agricultural		66,872		35,126		16,399		118,397
Commercial Real Estate		39,430		308,165		501,086		848,681
Commercial and Industrial		71,042		87,047		50,951		209,040
Consumer		3,202		39,746		14,840		57,788
Other		247		1,631		30,224		32,102
	$	194,950	$	512,656	$	1,157,617	$	1,865,223

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 December 31, 2021:

	(In Thousands)
	Fixed		Variable
	Rate		Rate
Consumer Real Estate	$	327,529	$	68,344
Agricultural Real Estate		127,918		70,425
Agricultural		104,269		14,099
Commercial Real Estate		712,755		135,722
Commercial and Industrial		174,633		33,637
Consumer		52,664		5,073
Other		22,102		9,987

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 classification of loans as of December 31, 2021 and 2020, net of deferred loan fees and costs:

December 31, 2021	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	$	228	$	-	$	246	$	474	$	395,331	$	395,805	$	-
Agricultural Real Estate		436		-		-		436		197,597		198,033		-
Agricultural		-		-		-		-		118,504		118,504		-
Commercial Real Estate		-		-		180		180		846,930		847,110		-
Commercial and Industrial		21		131		149		301		239,837		240,138		-
Consumer		64		-		-		64		57,765		57,829		-
Total	$	749	$	131	$	575	$	1,455	$	1,855,964	$	1,857,419	$	-

December 31, 2020	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	$	269	$	191	$	1,032	$	1,492	$	173,824	$	175,316	$	-
Agricultural Real Estate		-		-		88		88		188,738		188,826		-
Agricultural		-		-		176		176		94,314		94,490		-
Commercial Real Estate		-		-		185		185		587,469		587,654		-
Commercial and Industrial		-		750		983		1,733		202,310		204,043		-
Consumer		53		-		-		53		52,608		52,661		-
Total	$	322	$	941	$	2,464	$	3,727	$	1,299,263	$	1,302,990	$	-

Recorded Investment in Nonaccrual Loans by Portfolio Class of Loans

The following table presents the recorded investment in nonaccrual loans by portfolio class of loans as of December 31, 2021 and December 31, 2020:

	(In Thousands)
	2021		2020
Consumer Real Estate	$	824	$	1,546
Agricultural Real Estate		6,477		5,575
Agriculture		20		307
Commercial Real Estate		600		665
Commercial and Industrial		149		1,296
Consumer		6		15
Total	$	8,076	$	9,404

Risk Category of Loans by Portfolio Class

The following table represents the risk category of loans by portfolio class, net of deferred fees, based on the most recent analysis performed as of the time periods shown of December 31, 2021 and December 31, 2020.

	(In Thousands)
	Agricultural Real Estate				Agricultural				Commercial Real Estate				Commercial and Industrial				Other
	2021		2020		2021		2020		2021		2020		2021		2020		2021		2020
1-2	$	8,720	$	11,960	$	4,178	$	5,093	$	10,894	$	11,001	$	4,604	$	38,486	$	-	$	-
3		42,180		38,306		38,623		23,779		238,132		165,201		46,547		26,515		11,408		4,651
4		129,301		112,465		75,164		63,480		568,038		396,076		152,736		114,108		20,681		11,106
5		4,599		7,478		227		1,577		14,509		4,010		986		3,266		-		-
6		13,233		18,617		312		561		15,537		11,366		3,176		4,796		-		-
7		-		-		-		-		-		-		-		1,115		-		-
8		-		-		-		-		-		-		-		-		-		-
Total	$	198,033	$	188,826	$	118,504	$	94,490	$	847,110	$	587,654	$	208,049	$	188,286	$	32,089	$	15,757

Recorded Investment for Consumer Loans, Credit Quality based on Status of Loan and Payment Activity

The following tables present the recorded investment in those classes based on payment activity and assigned risk grading as of December 31, 2021 and December 31, 2020.

	(In Thousands)
	Consumer Real Estate
	2021		2020
Grade
Pass	$	392,940	$	171,667
Special mention (5)		1,673		1,284
Substandard (6)		1,192		2,365
Doubtful (7)		-		-
Total	$	395,805	$	175,316

	(In Thousands)
	Consumer - Credit Card				Consumer - Other
	2021		2020		2021		2020
Performing	$	3,906	$	3,660	$	53,820	$	48,855
Nonperforming		13		10		90		136
Total	$	3,919	$	3,670	$	53,910	$	48,991

Schedule of Impaired Loans

Information about impaired loans as of and for the years ended December 31, 2021 and 2020 are as follows:

	(In Thousands)
	2021		2020
Impaired loans without a valuation allowance	$	1,228	$	5,172
Impaired loans with a valuation allowance		10,711		9,360
Total impaired loans	$	11,939	$	14,532
Valuation allowance related to impaired loans	$	2,184	$	1,657
Total nonaccrual loans	$	8,076	$	9,404
Total loans past-due ninety days or more and still accruing	$	-	$	-

	(In Thousands)
	2021		2020		2019
Average investment in impaired loans	$	12,247	$	10,232	$	2,649
Interest income recognized on impaired loans	$	292	$	269	$	118
Interest income recognized on a cash basis on impaired loans	$	188	$	135	$	9

Impaired Loans Classified as Troubled Debt Restructured

The following table represents the years ended December 31, 2021 and 2020.

December 31, 2021							December 31, 2020
			(In thousands)							(In thousands)
Troubled Debt Restructurings	Number of Contracts Modified in the Last 12 Months		Pre- Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Troubled Debt Restructurings	Number of Contracts Modified in the Last 12 Months		Pre- Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Agricultural Real Estate		1	$	1,655	$	1,655	Agricultural Real Estate		2	$	5,380	$	5,380
Agricultural		-		-		-	Agricultural		1		164		164
Commercial Real Estate		1		382		382	Commercial Real Estate		2		981		981
Commercial and Industrial		1		1,000		1,000	Commercial and Industrial		1		50		50

Loans Individually Evaluated for Impairment by Portfolio Class of Loans

The following tables present loans individually evaluated for impairment by portfolio class of loans as of December 31, 2021 and 2020:

	(In Thousands)
2021	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized Cash Basis
With no related allowance recorded:
Consumer Real Estate	$	604	$	604	$	-	$	456	$	5	$	15
Agricultural Real Estate		423		423		-		1,000		33		-
Agricultural		-		-		-		143		18		3
Commercial Real Estate		180		180		-		1,445		70		9
Commercial and Industrial		21		21		-		920		24		158
Consumer		-		-		-		17		-		-
With a specific allowance recorded:
Consumer Real Estate		-		-		-		59		-		-
Agricultural Real Estate		6,302		6,406		691		5,414		54		-
Agricultural		20		20		1		94		-		-
Commercial Real Estate		3,381		3,381		664		2,199		70		3
Commercial and Industrial		982		982		825		498		17		-
Consumer		26		26		3		2		1		-
Totals:
Consumer Real Estate	$	604	$	604	$	-	$	515	$	5	$	15
Agricultural Real Estate	$	6,725	$	6,829	$	691	$	6,414	$	87	$	-
Agricultural	$	20	$	20	$	1	$	237	$	18	$	3
Commercial Real Estate	$	3,561	$	3,561	$	664	$	3,644	$	140	$	12
Commercial and Industrial	$	1,003	$	1,003	$	825	$	1,418	$	41	$	158
Consumer	$	26	$	26	$	3	$	19	$	1	$	-

	(In Thousands)
2020	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized Cash Basis
With no related allowance recorded:
Consumer Real Estate	$	799	$	799	$	-	$	738	$	22	$	10
Agricultural Real Estate		1,546		1,549		-		729		18		12
Agricultural		291		291		-		392		3		3
Commercial Real Estate		185		185		-		195		13		-
Commercial and Industrial		2,328		2,328		-		1,222		26		5
Consumer		23		23		-		16		-		-
With a specific allowance recorded:
Consumer Real Estate		202		202		31		126		-		3
Agricultural Real Estate		5,210		5,210		600		3,175		6		102
Agricultural		176		176		116		188		-		-
Commercial Real Estate		2,765		2,765		20		2,524		128		-
Commercial and Industrial		1,007		1,007		890		916		52		-
Consumer		-		-		-		11		1		-
Totals:
Consumer Real Estate	$	1,001	$	1,001	$	31	$	864	$	22	$	13
Agricultural Real Estate	$	6,756	$	6,759	$	600	$	3,904	$	24	$	114
Agricultural	$	467	$	467	$	116	$	580	$	3	$	3
Commercial Real Estate	$	2,950	$	2,950	$	20	$	2,719	$	141	$	-
Commercial and Industrial	$	3,335	$	3,335	$	890	$	2,138	$	78	$	5
Consumer	$	23	$	23	$	-	$	27	$	1	$	-

Summary of Activities in Allowance for Credit Losses

The following is an analysis of the allowance for credit losses for the years ended December 31:

	(In Thousands)
	2021			2020			2019
Allowance for Loan Losses
Balance at beginning of year	$	13,672		$	7,228		$	6,775
Provision for loan loss		3,444			6,981			1,138
Loans charged off		(1,332	)		(720	)		(841	)
Recoveries		458			183			156
Balance at ending of year	$	16,242		$	13,672		$	7,228
Allowance for Unfunded Loan Commitments & Letters of Credit	$	1,041		$	641		$	479
Total Allowance for Credit Losses	$	17,283		$	14,313		$	7,707

Analysis of Allowance for Credit Losses

Additional analysis related to the allowance for credit losses as of December 31, 2021 and 2020 is as follows:

	(In Thousands)
2021	Consumer Real Estate			Agricultural Real Estate			Agricultural			Commercial Real Estate		Commercial and Industrial			Consumer			Unfunded Loan Commitment & Letters of Credit		Unallocated		Total
ALLOWANCE FOR CREDIT LOSSES:
Beginning balance	$	633		$	958		$	701		$	7,415	$	3,346		$	606		$	641	$	13	$	14,313
Charge Offs		(19	)		(105	)		(143	)		-		(814	)		(251	)		-		-		(1,332	)
Recoveries		13			-			14			10		257			164			-		-		458
Provision		230			187			137			1,705		1,058			106			-		21		3,444
Other Non-interest expense related to unfunded		-			-			-			-		-			-			400		-		400
Ending Balance	$	857		$	1,040		$	709		$	9,130	$	3,847		$	625		$	1,041	$	34	$	17,283
Ending balance: individually evaluated for impairment	$	-		$	691		$	1		$	664	$	825		$	3		$	-	$	-	$	2,184
Ending balance: collectively evaluated for impairment	$	857		$	349		$	708		$	8,466	$	3,022		$	622		$	1,041	$	34	$	15,099
Ending balance: loans acquired with deteriorated credit quality	$	37		$	-		$	-		$	-	$	-		$	-		$	-	$	-	$	37
FINANCING RECEIVABLES:
Ending balance	$	395,805		$	198,033		$	118,504		$	847,110	$	240,138		$	57,829		$	-	$	-	$	1,857,419
Ending balance: individually evaluated for impairment	$	604		$	6,725		$	20		$	3,561	$	1,003		$	26		$	-	$	-	$	11,939
Ending balance: collectively evaluated for impairment	$	394,489		$	191,107		$	118,484		$	843,299	$	238,849		$	57,803		$	-	$	-	$	1,844,031
Ending balance: loans acquired with deteriorated credit quality	$	712		$	201		$	-		$	250	$	286		$	-		$	-	$	-	$	1,449

	(In Thousands)
2020	Consumer Real Estate			Agricultural Real Estate		Agricultural		Commercial Real Estate			Commercial and Industrial			Consumer			Unfunded Loan Commitment & Letters of Credit		Unallocated		Total
ALLOWANCE FOR CREDIT LOSSES:
Beginning balance	$	311		$	314	$	691	$	3,634		$	1,727		$	551		$	479	$	-	$	7,707
Charge Offs		(35	)		-		-		(8	)		(297	)		(380	)		-		-		(720	)
Recoveries		9			-		-		10			24			140			-		-		183
Provision (Credit)		348			644		10		3,779			1,892			295			-		13		6,981
Other Non-interest expense related to unfunded		-			-		-		-			-			-			162		-		162
Ending Balance	$	633		$	958	$	701	$	7,415		$	3,346		$	606		$	641	$	13	$	14,313
Ending balance: individually evaluated for impairment	$	31		$	600	$	116	$	20		$	890		$	-		$	-	$	-	$	1,657
Ending balance: collectively evaluated for impairment	$	602		$	358	$	585	$	7,395		$	2,456		$	606		$	641	$	13	$	12,656
Ending balance: loans acquired with deteriorated credit quality	$	-		$	-	$	-	$	-		$	-		$	-		$	-	$	-	$	-
FINANCING RECEIVABLES:
Ending balance	$	175,316		$	188,826	$	94,490	$	587,654		$	204,043		$	52,661		$	-	$	-	$	1,302,990
Ending balance: individually evaluated for impairment	$	1,001		$	6,756	$	467	$	2,950		$	3,335		$	23		$	-	$	-	$	14,532
Ending balance: collectively evaluated for impairment	$	174,273		$	182,070	$	94,023	$	584,704		$	200,602		$	52,638		$	-	$	-	$	1,288,310
Ending balance: loans acquired with deteriorated credit quality	$	42		$	-	$	-	$	-		$	106		$	-		$	-	$	-	$	148