XML 38 R27.htm IDEA: XBRL DOCUMENT v3.21.1
LOANS (Tables)
3 Months Ended
Mar. 31, 2021
LOANS  
Summary of loans outstanding

Summary of Loans by Type

(In Thousands)

    

March 31, 

    

December 31, 

2021

2020

Commercial:

 

  

 

  

Commercial loans secured by real estate

$

524,886

$

531,810

Commercial and industrial

 

155,828

 

159,577

Paycheck Protection Program - 1st Draw

71,708

132,269

Paycheck Protection Program - 2nd Draw

66,127

0

Political subdivisions

 

49,860

 

53,221

Commercial construction and land

 

45,307

 

42,874

Loans secured by farmland

 

10,897

 

11,736

Multi-family (5 or more) residential

 

54,049

 

55,811

Agricultural loans

 

2,460

 

3,164

Other commercial loans

 

16,315

 

17,289

Total commercial

 

997,437

 

1,007,751

Residential mortgage:

 

  

 

  

Residential mortgage loans - first liens

518,392

532,947

Residential mortgage loans - junior liens

 

25,402

 

27,311

Home equity lines of credit

 

39,083

 

39,301

1-4 Family residential construction

 

18,376

 

20,613

Total residential mortgage

 

601,253

 

620,172

Consumer

 

15,897

 

16,286

Total

 

1,614,587

 

1,644,209

Less: allowance for loan losses

 

(11,661)

 

(11,385)

Loans, net

$

1,602,926

$

1,632,824

Schedule of quantity and balances of modification

Deferrals Remaining

As of March 31, 2021

(Dollars in Thousands)

Number

Purchased

of

Special

Credit

    

Loans

    

Pass

    

Mention

Substandard

Impaired

    

Total

COVID-19-related loan modifications:

Commercial

Accommodation and food services - hotels

5

$

9,186

$

10,349

$

0

$

0

$

19,535

Lessors of residential buildings and dwellings

3

0

0

55

1,557

1,612

Lessors of nonresidential buildings (except miniwarehouses)

1

0

0

0

1,411

1,411

Transportation and warehousing

4

1,197

0

0

0

1,197

Religious organizations

2

757

0

0

0

757

Real estate rental and leasing - other

1

438

0

0

0

438

Total commercial

16

11,578

10,349

55

2,968

24,950

Residential mortgage

9

619

0

475

0

1,094

Consumer

0

0

0

0

0

0

Total

25

$

12,197

$

10,349

$

530

$

2,968

$

26,044

Schedule of adjustments to the initial market rate and credit fair value adjustments recognized

(In Thousands)

    

    

Three Months Ended

March 31, 

March 31, 

2021

2020

Market Rate Adjustment

 

  

 

  

Adjustments to gross amortized cost of loans at beginning of period

$

718

$

(1,415)

(Amortization) accretion recognized in interest income

(366)

147

Adjustments to gross amortized cost of loans at end of period

$

352

$

(1,268)

Credit Adjustment on Non-impaired Loans

Adjustments to gross amortized cost of loans at beginning of period

$

(5,979)

$

(1,216)

Accretion recognized in interest income

 

797

 

205

Adjustments to gross amortized cost of loans at end of period

$

(5,182)

$

(1,011)

Schedule of PCI loans

(In Thousands)

March 31, 

December 31, 

    

2021

    

2020

Outstanding balance

$

10,256

$

10,316

Carrying amount

 

6,781

 

6,841

Schedule of transactions within the allowance for loan losses

Three Months Ended March 31, 2021

December 31, 2020

    

    

    

    

    

    

    

March 31, 2021

(In Thousands)

    

Balance

    

 Charge-offs 

    

 Recoveries 

    

 Provision (Credit) 

    

Balance

Allowance for Loan Losses:

 

  

  

  

  

  

Commercial:

 

  

 

  

 

  

 

  

 

  

Commercial loans secured by real estate

$

3,051

$

0

$

0

$

299

$

3,350

Commercial and industrial

 

2,245

 

0

 

14

 

(72)

 

2,187

Commercial construction and land

 

454

 

0

 

0

 

22

 

476

Loans secured by farmland

 

120

 

0

 

0

 

(9)

 

111

Multi-family (5 or more) residential

 

236

 

0

 

0

 

19

 

255

Agricultural loans

 

34

 

0

 

0

 

(8)

 

26

Other commercial loans

 

168

 

0

 

0

 

(9)

 

159

Total commercial

 

6,308

 

0

 

14

 

242

 

6,564

Residential mortgage:

 

  

  

  

  

  

Residential mortgage loans - first liens

3,524

0

1

(18)

3,507

Residential mortgage loans - junior liens

 

349

 

0

 

0

 

(15)

 

334

Home equity lines of credit

 

281

 

0

 

1

 

(1)

 

281

1-4 Family residential construction

 

99

 

0

 

0

 

(21)

 

78

Total residential mortgage

 

4,253

 

0

 

2

 

(55)

4,200

Consumer

 

239

 

(11)

 

12

 

(20)

 

220

Unallocated

 

585

 

0

 

0

 

92

 

677

Total Allowance for Loan Losses

$

11,385

$

(11)

$

28

$

259

$

11,661

Three Months Ended March 31, 2020

December 31, 2019

    

    

    

    

    

    

    

March 31, 2020

(In Thousands)

    

Balance

    

 Charge-offs 

    

 Recoveries 

    

 Provision (Credit) 

    

Balance

Allowance for Loan Losses:

 

  

  

  

  

  

Commercial:

 

  

 

  

 

  

 

  

 

  

Commercial loans secured by real estate

$

1,921

$

0

$

0

$

11

$

1,932

Commercial and industrial

 

1,391

 

(17)

 

0

 

1,271

 

2,645

Commercial construction and land

 

966

 

0

 

0

 

4

 

970

Loans secured by farmland

 

158

 

0

 

0

 

(14)

 

144

Multi-family (5 or more) residential

 

156

 

0

 

0

 

43

 

199

Agricultural loans

 

41

 

0

 

0

 

(2)

 

39

Other commercial loans

 

155

 

0

 

0

 

5

 

160

Total commercial

 

4,788

 

(17)

 

0

 

1,318

 

6,089

Residential mortgage:

 

  

  

  

  

  

Residential mortgage loans - first liens

3,405

0

1

166

3,572

Residential mortgage loans - junior liens

 

384

 

0

 

1

 

29

 

414

Home equity lines of credit

 

276

 

0

 

1

 

1

 

278

1-4 Family residential construction

 

117

 

0

 

0

 

2

 

119

Total residential mortgage

 

4,182

 

0

 

3

 

198

 

4,383

Consumer

 

281

 

(31)

 

11

 

12

 

273

Unallocated

 

585

 

0

 

0

 

0

 

585

Total Allowance for Loan Losses

$

9,836

$

(48)

$

14

$

1,528

$

11,330

Schedule of aggregate credit quality classification of outstanding loans by risk

March 31, 2021

    

    

    

    

    

Purchased

    

(In Thousands)

Special

Credit

Pass

Mention

Substandard

Doubtful

Impaired

Total

Commercial:

 

 

 

 

 

 

Commercial loans secured by real estate

$

485,821

$

18,419

$

16,371

$

0

$

4,275

$

524,886

Commercial and Industrial

 

139,780

 

8,627

 

6,537

 

95

 

789

 

155,828

Paycheck Protection Program - 1st Draw

71,708

0

0

0

0

71,708

Paycheck Protection Program - 2nd Draw

66,127

0

0

0

0

66,127

Political subdivisions

 

49,860

 

0

 

0

 

0

 

0

 

49,860

Commercial construction and land

 

44,543

 

715

 

49

 

0

 

0

 

45,307

Loans secured by farmland

 

9,657

 

397

 

843

 

0

 

0

 

10,897

Multi-family (5 or more) residential

 

49,204

 

2,380

 

887

 

0

 

1,578

 

54,049

Agricultural loans

 

1,880

 

0

 

580

 

0

 

0

 

2,460

Other commercial loans

 

16,315

 

0

 

0

 

0

 

0

 

16,315

Total commercial

 

934,895

 

30,538

 

25,267

 

95

 

6,642

 

997,437

Residential Mortgage:

 

  

 

  

 

  

 

  

 

  

 

  

Residential Mortgage loans - first liens

501,338

5,397

11,583

0

74

518,392

Residential Mortgage loans - junior liens

 

24,601

 

132

 

604

 

0

 

65

 

25,402

Home equity lines of credit

 

38,326

 

59

 

698

 

0

 

0

 

39,083

1-4 Family residential construction

 

18,376

 

0

 

0

 

0

 

0

 

18,376

Total residential mortgage

 

582,641

 

5,588

 

12,885

 

0

 

139

 

601,253

Consumer

 

15,784

 

0

 

113

 

0

 

0

 

15,897

Totals

$

1,533,320

$

36,126

$

38,265

$

95

$

6,781

$

1,614,587

December 31, 2020

    

    

    

    

    

Purchased

    

(In Thousands)

Special

Credit

Pass

Mention

Substandard

Doubtful

Impaired

Total

Commercial:

 

 

 

 

 

 

Commercial loans secured by real estate

$

494,876

$

17,374

$

15,262

$

0

$

4,298

$

531,810

Commercial and Industrial

 

143,500

 

8,025

 

7,268

 

0

 

784

 

159,577

Paycheck Protection Program - 1st Draw

132,269

0

0

0

0

132,269

Political subdivisions

 

53,221

 

0

 

0

 

0

 

0

 

53,221

Commercial construction and land

 

42,110

 

715

 

49

 

0

 

0

 

42,874

Loans secured by farmland

 

10,473

 

405

 

858

 

0

 

0

 

11,736

Multi-family (5 or more) residential

 

50,563

 

2,405

 

1,229

 

0

 

1,614

 

55,811

Agricultural loans

 

2,569

 

0

 

595

 

0

 

0

 

3,164

Other commercial loans

 

17,289

 

0

 

0

 

0

 

0

 

17,289

Total commercial

 

946,870

 

28,924

 

25,261

 

0

 

6,696

 

1,007,751

Residential Mortgage:

 

  

 

  

 

  

 

  

 

  

 

  

Residential Mortgage loans - first liens

516,685

6,192

9,994

0

76

532,947

Residential Mortgage loans - junior liens

 

26,480

 

141

 

621

 

0

 

69

 

27,311

Home equity lines of credit

 

38,529

 

59

 

713

 

0

 

0

 

39,301

1-4 Family residential construction

 

20,613

 

0

 

0

 

0

 

0

 

20,613

Total residential mortgage

 

602,307

 

6,392

 

11,328

 

0

 

145

 

620,172

Consumer

 

16,172

 

0

 

114

 

0

 

0

 

16,286

Totals

$

1,565,349

$

35,316

$

36,703

$

0

$

6,841

$

1,644,209

Summary of loan balances and the related allowance for loan losses

March 31, 2021

    

Loans:

Allowance for Loan Losses:

(In Thousands)

Individually

Collectively

Individually

Collectively

  

    

Evaluated

    

Evaluated

    

Totals

    

Evaluated

    

Evaluated

    

Totals

Commercial:

 

 

 

 

 

 

Commercial loans secured by real estate

$

12,749

$

512,137

$

524,886

$

899

$

2,451

$

3,350

Commercial and industrial

 

1,422

 

154,406

 

155,828

 

71

 

2,116

 

2,187

Paycheck Protection Program - 1st Draw

 

0

 

71,708

 

71,708

 

0

 

0

 

0

Paycheck Protection Program - 2nd Draw

0

66,127

66,127

0

0

0

Political subdivisions

 

0

 

49,860

 

49,860

 

0

 

0

 

0

Commercial construction and land

 

0

 

45,307

 

45,307

 

0

 

476

 

476

Loans secured by farmland

 

84

 

10,813

 

10,897

 

0

 

111

 

111

Multi-family (5 or more) residential

 

1,578

 

52,471

 

54,049

 

0

 

255

 

255

Agricultural loans

 

0

 

2,460

 

2,460

 

0

 

26

 

26

Other commercial loans

 

0

 

16,315

 

16,315

 

0

 

159

 

159

Total commercial

 

15,833

 

981,604

 

997,437

 

970

 

5,594

 

6,564

Residential mortgage:

 

  

 

  

 

  

 

  

 

  

 

  

Residential mortgage loans - first liens

1,920

516,472

518,392

8

3,499

3,507

Residential mortgage loans - junior liens

 

405

 

24,997

 

25,402

 

146

 

188

 

334

Home equity lines of credit

 

0

 

39,083

 

39,083

 

0

 

281

 

281

1-4 Family residential construction

 

0

 

18,376

 

18,376

 

0

 

78

 

78

Total residential mortgage

 

2,325

 

598,928

 

601,253

 

154

 

4,046

 

4,200

Consumer

 

0

 

15,897

 

15,897

 

0

 

220

 

220

Unallocated

 

 

 

 

 

 

677

Total

$

18,158

$

1,596,429

$

1,614,587

$

1,124

$

9,860

$

11,661

December 31, 2020

    

Loans:

Allowance for Loan Losses:

(In Thousands)

Individually

Collectively

Individually

Collectively

  

    

Evaluated

    

Evaluated

    

Totals

    

Evaluated

    

Evaluated

    

Totals

Commercial:

 

 

 

 

 

 

Commercial loans secured by real estate

$

11,962

$

519,848

$

531,810

$

692

$

2,359

$

3,051

Commercial and industrial

 

1,359

 

158,218

 

159,577

 

71

 

2,174

 

2,245

Paycheck Protection Program - 1st Draw

 

0

 

132,269

 

132,269

 

0

 

0

 

0

Political subdivisions

 

0

 

53,221

 

53,221

 

0

 

0

 

0

Commercial construction and land

 

0

 

42,874

 

42,874

 

0

 

454

 

454

Loans secured by farmland

 

84

 

11,652

 

11,736

 

0

 

120

 

120

Multi-family (5 or more) residential

 

1,614

 

54,197

 

55,811

 

0

 

236

 

236

Agricultural loans

 

0

 

3,164

 

3,164

 

0

 

34

 

34

Other commercial loans

 

0

 

17,289

 

17,289

 

0

 

168

 

168

Total commercial

 

15,019

 

992,732

 

1,007,751

 

763

 

5,545

 

6,308

Residential mortgage:

 

  

 

  

 

  

 

  

 

  

 

  

Residential mortgage loans - first liens

2,385

530,562

532,947

9

3,515

3,524

Residential mortgage loans - junior liens

 

414

 

26,897

 

27,311

 

153

 

196

 

349

Home equity lines of credit

 

0

 

39,301

 

39,301

 

0

 

281

 

281

1-4 Family residential construction

 

0

 

20,613

 

20,613

 

0

 

99

 

99

Total residential mortgage

 

2,799

 

617,373

 

620,172

 

162

 

4,091

 

4,253

Consumer

 

0

 

16,286

 

16,286

 

0

 

239

 

239

Unallocated

 

 

 

 

 

 

585

Total

$

17,818

$

1,626,391

$

1,644,209

$

925

$

9,875

$

11,385

Summary of information related to impaired loans

(In Thousands)

March 31, 2021

December 31, 2020

Unpaid

Unpaid

Principal

Recorded

Related

Principal

Recorded

Related

    

Balance

    

Investment

    

Allowance

    

Balance

    

Investment

    

Allowance

With no related allowance recorded:

 

  

 

  

 

  

 

  

 

  

 

  

Commercial loans secured by real estate

$

6,731

$

4,961

$

0

$

7,168

$

5,398

$

0

Commercial and industrial

 

1,844

 

1,350

 

0

 

1,781

 

1,287

 

0

Residential mortgage loans - first liens

731

731

0

1,248

1,248

0

Residential mortgage loans - junior liens

 

155

 

100

 

0

 

160

 

105

 

0

Loans secured by farmland

 

84

 

84

 

0

 

84

 

84

 

0

Multi-family (5 or more) residential

2,734

1,578

0

2,770

1,614

0

Total with no related allowance recorded

 

12,279

 

8,804

 

0

 

13,211

 

9,736

 

0

With a related allowance recorded:

 

 

 

 

 

 

Commercial loans secured by real estate

7,788

7,788

898

6,501

6,501

691

Commercial and industrial

 

72

 

72

 

72

 

72

 

72

 

72

Residential mortgage loans - first liens

 

1,189

 

1,189

 

8

 

1,200

 

1,200

 

9

Residential mortgage loans - junior liens

 

305

 

305

 

146

 

309

 

309

 

153

Total with a related allowance recorded

 

9,354

 

9,354

 

1,124

 

8,082

 

8,082

 

925

Total

$

21,633

$

18,158

$

1,124

$

21,293

$

17,818

$

925

Schedule of average balance of impaired loans and interest income recognized on impaired loans

(In Thousands)

Interest Income Recognized on

Average Investment in Impaired Loans

Impaired Loans on a Cash Basis

Three Months Ended

Three Months Ended

March 31, 

March 31, 

    

2021

2020

2021

2020

Commercial:

Commercial loans secured by real estate

$

12,203

$

387

$

143

$

4

Commercial and industrial

1,082

2,872

12

1

Commercial construction and land

49

1,308

1

12

Loans secured by farmland

84

516

1

17

Multi-family (5 or more) residential

1,596

0

61

0

Agricultural loans

69

76

2

0

Other commercial loans

0

50

0

1

Total commercial

15,083

5,209

220

35

Residential mortgage:

 

Residential mortgage loans - first lien

2,451

1,232

37

8

Residential mortgage loans - junior lien

437

382

5

0

Home equity lines of credit

18

65

0

1

Total residential mortgage

2,906

1,679

42

9

Consumer

0

0

0

0

Total

$

17,989

$

6,888

$

262

$

44

Schedule of breakdown by portfolio segment and class of non accrual loans

(In Thousands)

March 31, 2021

December 31, 2020

Past Due

Past Due

90+ Days and

90+ Days and

    

Accruing

    

Nonaccrual

    

Accruing

    

Nonaccrual

Commercial:

 

 

 

  

 

  

Commercial loans secured by real estate

$

155

$

12,648

$

395

$

11,550

Commercial and industrial

 

103

 

1,047

 

142

 

970

Commercial construction and land

 

0

 

49

 

0

 

49

Loans secured by farmland

 

188

 

84

 

188

 

84

Multi-family (5 or more) residential

0

1,578

0

1,614

Other commercial

 

0

 

0

 

71

 

0

Total commercial

 

446

 

15,406

 

796

 

14,267

Residential mortgage:

 

  

 

  

 

  

 

  

Residential mortgage loans - first liens

550

5,964

838

6,387

Residential mortgage loans - junior liens

 

45

 

370

 

52

 

378

Home equity lines of credit

 

196

 

295

 

233

 

299

Total residential mortgage

 

791

 

6,629

 

1,123

 

7,064

Consumer

 

48

 

81

 

56

 

85

Totals

$

1,285

$

22,116

$

1,975

$

21,416

Summary of the contractual aging of loans

(In Thousands)

As of March 31, 2021

As of December 31, 2020

    

Current &

    

    

    

    

Current &

    

    

    

Past Due

Past Due

Past Due

Past Due

Past Due

Past Due

Less than

30-89

90+

Less than

30-89

90+

30 Days

Days

Days

Total

30 Days

Days

Days

Total

Commercial:

 

 

 

 

 

  

 

  

 

  

 

  

Commercial loans secured by real estate

$

519,474

$

630

$

4,782

$

524,886

$

529,998

$

66

$

1,746

$

531,810

Commercial and industrial

 

154,745

 

94

 

989

 

155,828

 

158,523

 

55

 

999

 

159,577

Paycheck Protection Program - 1st Draw

71,708

0

0

71,708

132,269

0

0

132,269

Paycheck Protection Program - 2nd Draw

66,127

0

0

66,127

0

0

0

0

Political subdivisions

 

49,860

 

0

 

0

 

49,860

 

53,221

 

0

 

0

 

53,221

Commercial construction and land

 

45,060

 

198

 

49

 

45,307

 

42,590

 

284

 

0

 

42,874

Loans secured by farmland

 

10,593

 

82

 

222

 

10,897

 

11,419

 

95

 

222

 

11,736

Multi-family (5 or more) residential

 

54,049

 

0

 

0

 

54,049

 

53,860

 

1,951

 

0

 

55,811

Agricultural loans

 

2,364

 

96

 

0

 

2,460

 

3,091

 

2

 

71

 

3,164

Other commercial loans

 

16,315

 

0

 

0

 

16,315

 

17,289

 

0

 

0

 

17,289

Total commercial

 

990,295

 

1,100

 

6,042

 

997,437

 

1,002,260

 

2,453

 

3,038

 

1,007,751

Residential mortgage:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Residential mortgage loans - first liens

508,818

7,176

2,398

518,392

523,191

5,703

4,053

532,947

Residential mortgage loans - junior liens

 

25,201

 

20

 

181

 

25,402

 

27,009

 

111

 

191

 

27,311

Home equity lines of credit

 

38,455

 

432

 

196

 

39,083

 

38,919

 

101

 

281

 

39,301

1-4 Family residential construction

 

18,376

 

0

 

0

 

18,376

 

20,457

 

156

 

0

 

20,613

Total residential mortgage

 

590,850

 

7,628

 

2,775

 

601,253

 

609,576

 

6,071

 

4,525

 

620,172

Consumer

 

15,752

 

26

 

119

 

15,897

 

16,063

 

83

 

140

 

16,286

Totals

$

1,596,897

$

8,754

$

8,936

$

1,614,587

$

1,627,899

$

8,607

$

7,703

$

1,644,209

Summary of the contractual aging of nonaccrual loans

(In Thousands)

Current &

 

Past Due

Past Due

Past Due

 

Less than

30-89

90+

 

    

30 Days

    

Days

    

Days

    

Total

March 31, 2021 Nonaccrual Totals

$

12,654

$

1,861

$

7,601

$

22,116

December 31, 2020 Nonaccrual Totals

$

12,999

$

2,689

$

5,728

$

21,416

Summary of troubled debt restructurings

(In Thousands)

Current &

 

 

Past Due

Past Due

Past Due

 

 

Less than

30-89

90+

 

 

    

30 Days

    

Days

    

Days

    

Nonaccrual

    

Total

March 31, 2021 Totals

$

176

$

126

$

67

$

6,816

$

7,185

December 31, 2020 Totals

$

166

$

0

$

418

$

6,867

$

7,451

Summary of loans for which modifications considered to be TDRs were entered into within the previous 12 months

(Balances in Thousands)

Three Months Ended

Three Months Ended

March 31, 2021

March 31, 2020

Number

Number

of

Recorded

of

Recorded

Loans

Investment

Loans

Investment

Commercial loans secured by real estate

1

$

3,392

0

$

0

Total

 

1

$

3,392

 

0

$

0

Schedule of carrying amount of foreclosed residential real estate properties

(In Thousands)

    

March 31, 

    

December 31, 

2021

2020

Foreclosed residential real estate

$

218

$

80

Schedule of mortgage loans secured by residential real properties

(In Thousands)

    

March 31, 

    

December 31, 

2021

2020

Residential real estate in process of foreclosure

$

1,852

$

1,246

Troubled Debt Restructuring  
LOANS  
Summary of troubled debt restructurings

Three Months Ended

Three Months Ended

March 31, 2021

March 31, 2020

Post-

Post-

Number

Modification

Number

Modification

of

Recorded

of

Recorded

(Balances in Thousands)

Loans

Investment

Loans

Investment

Residential mortgage - first liens,

Reduced monthly payments and extended maturity date

    

1

    

$

12

    

0

    

$

0

Residential mortgage - junior liens,

New loan at lower than risk-adjusted market rate to borrower from whom short sale of other collateral was accepted

    

0

    

0

    

1

    

30

Consumer,

Reduced monthly payments and extended maturity date

1

24

0

0

Total

    

2

    

$

36

    

1

    

$

30