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Loans Receivable and Allowance for Loan Losses (Tables) | 9 Months Ended
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Sep. 30, 2020
Loans Receivable and Allowance for Loan Losses [Abstract] |
Composition of the Loan Portfolio |
| September 30, 2020 |  |  | December 31, 2019 |
Real Estate Loans: |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 263,404 |  | 18.6 | % |  | $ | 229,781 |  | 24.9 | %
Commercial |  | 574,123 |  | 40.5 |  |  |  | 391,327 |  | 42.3 |
Agricultural |  | 68,340 |  | 4.8 |  |  |  | — |  | — |
Construction |  | 20,797 |  | 1.5 |  |  |  | 17,732 |  | 1.9 |
Commercial loans |  | 285,295 |  | 20.1 |  |  |  | 134,150 |  | 14.5 |
Other agricultural loans |  | 42,297 |  | 3.0 |  |  |  | — |  | — |
Consumer loans to individuals |  | 162,217 |  | 11.5 |  |  |  | 151,686 |  | 16.4 |
Total loans |  | 1,416,473 |  | 100.0 | % |  |  | 924,676 |  | 100.0 | %
Deferred fees, net |  | (1,811) |  |  |  |  |  | (95) |  |  |
Total loans receivable |  | 1,414,662 |  |  |  |  |  | 924,581 |  |  |
Allowance for loan losses |  | (11,674) |  |  |  |  |  | (8,509) |  |  |
Net loans receivable | $ | 1,402,988 |  |  |  |  | $ | 916,072 |  |  |
Information Regarding Loans Acquired and Accounted for in Accordance With ASC 310-30 |
| September 30, 2020 |  | December 31, 2019
Outstanding Balance | $ | 15,344 |  | $ | 793
Carrying Amount | $ | 8,586 |  | $ | 696
Changes in the Accretable Yield for Purchased Credit-impaired Loans |
| 2020 |  | 2019
Balance at beginning of period | $ | 97 |  | $ | 168
Additions |  | 1,724 |  |  | —
Accretion |  | (179) |  |  | (29)
Reclassification and other |  | (96) |  |  | —
Balance at end of period | $ | 1,546 |  | $ | 139
Components Of Purchase Accounting Adjustments Related To Purchased Credit-impaired Loans Acquired |
(In Thousands) | July 7, 2020
Contractually required principal and interest | $ | 15,410
Non-accretable discount |  | (5,213)
Expected cash flows |  | 10,197
Accretable discount |  | (1,724)
Estimated fair value | $ | 8,473
Summary of Amount of Loans in Each Category that were Individually and Collectively Evaluated for Impairment |
| Real Estate Loans |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  | Commercial |  |  | Other |  | Consumer |  |  |
| Residential |  | Commercial |  |  | Agricultural |  | Construction |  | Loans |  |  | Agricultural |  | Loans |  | Total
September 30, 2020 | (In thousands)
Individually evaluated for impairment | $ | — |  | $ | 1,654 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 1,654
Loans acquired with deteriorated credit quality |  | 122 |  |  | 3,771 |  |  | 2,078 |  |  | 190 |  |  | 245 |  |  | 2,180 |  |  | — |  |  | 8,586
Collectively evaluated for impairment |  | 263,282 |  |  | 568,698 |  |  | 66,262 |  |  | 20,607 |  |  | 285,050 |  |  | 40,117 |  |  | 162,217 |  |  | 1,406,233
Total Loans | $ | 263,404 |  | $ | 574,123 |  | $ | 68,340 |  | $ | 20,797 |  | $ | 285,295 |  | $ | 42,297 |  | $ | 162,217 |  | $ | 1,416,473
| Real Estate Loans |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Commercial |  | Consumer |  |  |
| Residential |  | Commercial |  | Construction |  | Loans |  | Loans |  | Total
December 31, 2019 | (In thousands)
Individually evaluated for impairment | $ | - |  | $ | 2,144 |  | $ | - |  | $ | - |  | $ | - |  | $ | 2,144
Loans acquired with deteriorated credit quality |  | 476 |  |  | 220 |  |  | - |  |  | - |  |  | - |  |  | 696
Collectively evaluated for impairment |  | 229,305 |  |  | 388,963 |  |  | 17,732 |  |  | 134,150 |  |  | 151,686 |  |  | 921,836
Total Loans | $ | 229,781 |  | $ | 391,327 |  | $ | 17,732 |  | $ | 134,150 |  | $ | 151,686 |  | $ | 924,676
Impaired Loans and Related Interest Income by Loan Portfolio Class | The following table includes the recorded investment and unpaid principal balances for impaired loans with the associated allowance amount, if applicable.
|  |  |  | Unpaid |  |  |
| Recorded |  | Principal |  | Associated
| Investment |  | Balance |  | Allowance
September 30, 2020 |  |  |  |  | (in thousands) |  |
With no related allowance recorded: |  |  |  |  |  |  |  |
Real Estate Loans: |  |  |  |  |  |  |  |
Commercial | $ | 1,654 |  | $ | 2,287 |  |  | —
Total Impaired Loans | $ | 1,654 |  | $ | 2,287 |  |  | —
|  |  |  | Unpaid |  |  |
| Recorded |  | Principal |  | Associated
| Investment |  | Balance |  | Allowance
December 31, 2019 |  |  |  |  | (in thousands) |  |
With no related allowance recorded: |  |  |  |  |  |  |  |
Real Estate Loans: |  |  |  |  |  |  |  |
Commercial | $ | 143 |  | $ | 394 |  | $ | —
Subtotal |  | 143 |  |  | 394 |  |  | —
With an allowance recorded: |  |  |  |  |  |  |  |
Real Estate Loans |  |  |  |  |  |  |  |
Commercial |  | 2,001 |  |  | 2,001 |  |  | 417
Subtotal |  | 2,001 |  |  | 2,001 |  |  | 417
Total: |  |  |  |  |  |  |  |
Real Estate Loans: |  |  |  |  |  |  |  |
Commercial |  | 2,144 |  |  | 2,395 |  |  | 417
Total Impaired Loans | $ | 2,144 |  | $ | 2,395 |  | $ | 417
The following table presents the average recorded investment in impaired loans and the related amount of interest income recognized during the three-month periods ended September 30, 2020 and 2019, respectively (in thousands):
| Average Recorded |  | Interest Income
| Investment |  | Recognized
| 2020 |  | 2019 |  | 2020 |  | 2019
Real Estate Loans: |  |  |  |  |  |  |  |  |  |  |
Commercial |  | 1,874 |  |  | 633 |  |  | 2 |  |  | —
Total | $ | 1,874 |  | $ | 633 |  | $ | 2 |  | $ | —
The following table presents the average recorded investment in impaired loans and the related amount of interest income recognized during the nine-month periods ended September 30, 2020 and 2019, respectively (in thousands):
| Average Recorded |  | Interest Income
| Investment |  | Recognized
| 2020 |  | 2019 |  | 2020 |  | 2019
Real Estate Loans: |  |  |  |  |  |  |  |  |  |  |
Commercial |  | 1,986 |  |  | 759 |  |  | 8 |  |  | 24
Total | $ | 1,986 |  | $ | 759 |  | $ | 8 |  | $ | 24
Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating |
|  |  |  | Special |  |  |  |  | Doubtful |  |  |
| Pass |  | Mention |  | Substandard |  | or Loss |  | Total
September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate loans | $ | 558,137 |  | $ | 10,341 |  | $ | 5,645 |  | $ | — |  | $ | 574,123
Agricultural real estate loans |  | — |  |  | 5,554 |  |  | 3,529 |  |  | — |  |  | 68,340
Commercial loans |  | 284,625 |  |  | 275 |  |  | 395 |  |  | — |  |  | 285,295
Other agricultural loans |  | — |  |  | 2,595 |  |  | 2,270 |  |  | — |  |  | 42,297
Total | $ | 842,762 |  | $ | 18,765 |  | $ | 11,839 |  | $ | — |  | $ | 970,055
|  |  |  | Special |  |  |  |  | Doubtful |  |  |
| Pass |  | Mention |  | Substandard |  | or Loss |  | Total
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate loans | $ | 376,109 |  | $ | 12,268 |  | $ | 2,950 |  | $ | — |  | $ | 391,327
Commercial loans |  | 133,695 |  |  | 248 |  |  | 207 |  |  | — |  |  | 134,150
Total | $ | 509,804 |  | $ | 12,516 |  | $ | 3,157 |  | $ | — |  | $ | 525,477
For residential real estate loans, construction loans and consumer loans, the Company evaluates credit quality based on the performance of the individual credits. The following table presents the recorded investment in the loan classes based on payment activity as of September 30, 2020 and December 31, 2019 (in thousands):
| Performing |  | Nonperforming |  | Total
September 30, 2020 |  |  |  |  |  |  |  |
Residential real estate loans | $ | 262,741 |  | $ | 663 |  | $ | 263,404
Construction |  | 20,797 |  |  | — |  |  | 20,797
Consumer loans |  | 162,078 |  |  | 139 |  |  | 162,217
Total | $ | 445,616 |  | $ | 802 |  | $ | 446,418
| Performing |  | Nonperforming |  | Total
December 31, 2019 |  |  |  |  |  |  |  |
Residential real estate loans | $ | 229,214 |  | $ | 567 |  | $ | 229,781
Construction |  | 17,732 |  |  | — |  |  | 17,732
Consumer loans |  | 151,607 |  |  | 79 |  |  | 151,686
Total | $ | 398,553 |  | $ | 646 |  | $ | 399,199
Loan Portfolio Summarized by the Past Due Status |
| Current |  | 31-60 Days Past Due |  | 61-90 Days Past Due |  | Greater than 90 Days Past Due and still accruing |  | Nonaccrual |  | Total Past Due and Non-Accrual |  | Purchased Credit-Impaired |  | Total Loans
September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real Estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 261,906 |  | $ | 443 |  | $ | 270 |  | $ | - |  | $ | 663 |  | $ | 1,376 |  | $ | 122 |  | $ | 263,404
Commercial |  | 568,601 |  |  | 420 |  |  | 51 |  |  | - |  |  | 1,280 |  |  | 1,751 |  |  | 3,771 |  |  | 574,123
Agricultural |  | 65,557 |  |  | 29 |  |  |  |  |  |  |  |  | 676 |  |  | 705 |  |  | 2,078 |  |  | 68,340
Construction |  | 20,607 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 190 |  |  | 20,797
Commercial loans |  | 283,130 |  |  | 878 |  |  | 19 |  |  | 1,000 |  |  | 23 |  |  | 1,920 |  |  | 245 |  |  | 285,295
Other agricultural loans |  | 39,844 |  |  | 10 |  |  |  |  |  |  |  |  | 263 |  |  | 273 |  |  | 2,180 |  |  | 42,297
Consumer loans |  | 161,682 |  |  | 346 |  |  | 50 |  |  | - |  |  | 139 |  |  | 535 |  |  | - |  |  | 162,217
Total | $ | 1,401,327 |  | $ | 2,126 |  | $ | 390 |  | $ | 1,000 |  | $ | 3,044 |  | $ | 6,560 |  | $ | 8,586 |  | $ | 1,416,473
| Current |  | 31-60 Days Past Due |  | 61-90 Days Past Due |  | Greater than 90 Days Past Due and still accruing |  | Nonaccrual |  | Total Past Due and Non-Accrual |  | Purchased Credit-Impaired |  | Total Loans
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real Estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 227,766 |  | $ | 727 |  | $ | 245 |  | $ | - |  | $ | 567 |  | $ | 1,539 | - | $ | 476 |  | $ | 229,781
Commercial |  | 387,897 |  |  | 176 |  |  | 2,935 |  |  | - |  |  | 99 |  |  | 3,210 | - |  | 220 |  |  | 391,327
Construction |  | 17,695 |  |  | - |  |  | 37 |  |  | - |  |  | - |  |  | 37 | - |  | - |  |  | 17,732
Commercial loans |  | 134,018 |  |  | 82 |  |  | - |  |  | - |  |  | 50 |  |  | 132 | - |  | - |  |  | 134,150
Consumer loans |  | 151,309 |  |  | 233 |  |  | 65 |  |  | - |  |  | 79 |  |  | 377 | - |  | - |  |  | 151,686
Total | $ | 918,685 |  | $ | 1,218 |  | $ | 3,282 |  | $ | - |  | $ | 795 |  | $ | 5,295 | - | $ | 696 |  | $ | 924,676
Allowance for Loan Losses and Recorded Investment in Financing Receivables |
(In thousands) | Residential Real Estate |  | Commercial Real Estate |  | Construction |  | Commercial |  | Consumer |  | Total
Beginning balance, December 31, 2019 | $ | 1,552 |  | $ | 4,687 |  | $ | 95 |  | $ | 949 |  | $ | 1,226 |  | $ | 8,509
Charge Offs |  | (41) |  |  | (433) |  |  | — |  |  | (18) |  |  | (275) |  |  | (767)
Recoveries |  | 5 |  |  | 10 |  |  | — |  |  | 36 |  |  | 31 |  |  | 82
Provision for loan losses |  | 162 |  |  | 2,904 |  |  | 30 |  |  | 242 |  |  | 512 |  |  | 3,850
Ending balance, September 30, 2020 | $ | 1,678 |  | $ | 7,168 |  | $ | 125 |  | $ | 1,209 |  | $ | 1,494 |  | $ | 11,674
Ending balance individually evaluated ‎for impairment | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Ending balance collectively evaluated ‎for impairment | $ | 1,678 |  | $ | 7,168 |  | $ | 125 |  | $ | 1,209 |  | $ | 1,494 |  | $ | 11,674
(In thousands) | Residential Real Estate |  | Commercial Real Estate |  | Construction |  | Commercial |  | Consumer |  | Total
Beginning balance, June 30, 2020 | $ | 1,652 |  | $ | 6,079 |  | $ | 86 |  | $ | 1,076 |  | $ | 1,419 |  | $ | 10,312
Charge Offs |  | (40) |  |  | (400) |  |  | - |  |  | - |  |  | (83) |  |  | (523)
Recoveries |  | 2 |  |  | 4 |  |  | - |  |  | 18 |  |  | 11 |  |  | 35
Provision for loan losses |  | 64 |  |  | 1,485 |  |  | 39 |  |  | 115 |  |  | 147 |  |  | 1,850
Ending balance, September 30, 2020 | $ | 1,678 |  | $ | 7,168 |  | $ | 125 |  | $ | 1,209 |  | $ | 1,494 |  | $ | 11,674
(In thousands) | Residential Real Estate |  | Commercial Real Estate |  | Construction |  | Commercial |  | Consumer |  | Total
Beginning balance, December 31, 2018 | $ | 1,328 |  | $ | 5,455 |  | $ | 93 |  | $ | 712 |  | $ | 864 |  | $ | 8,452
Charge Offs |  | (90) |  |  | (615) |  |  | — |  |  | (254) |  |  | (246) |  |  | (1,205)
Recoveries |  | 20 |  |  | 18 |  |  | — |  |  | 31 |  |  | 39 |  |  | 108
Provision for loan losses |  | 310 |  |  | (292) |  |  | 14 |  |  | 454 |  |  | 564 |  |  | 1,050
Ending balance, September 30, 2019 | $ | 1,568 |  | $ | 4,566 |  | $ | 107 |  | $ | 943 |  | $ | 1,221 |  | $ | 8,405
Ending balance individually evaluated ‎for impairment | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Ending balance collectively evaluated ‎for impairment | $ | 1,568 |  | $ | 4,566 |  | $ | 107 |  | $ | 943 |  | $ | 1,221 |  | $ | 8,405
(In thousands) | Residential Real Estate |  | Commercial Real Estate |  | Construction |  | Commercial |  | Consumer |  | Total
Beginning balance, June 30, 2019 | $ | 1,447 |  | $ | 4,694 |  | $ | 112 |  | $ | 896 |  | $ | 1,079 |  | $ | 8,228
Charge Offs |  | (15) |  |  | — |  |  | — |  |  | (20) |  |  | (111) |  |  | (146)
Recoveries |  | 5 |  |  | 4 |  |  | — |  |  | 10 |  |  | 4 |  |  | 23
Provision for loan losses |  | 131 |  |  | (132) |  |  | (5) |  |  | 57 |  |  | 249 |  |  | 300
Ending balance, September 30, 2019 | $ | 1,568 |  | $ | 4,566 |  | $ | 107 |  | $ | 943 |  | $ | 1,221 |  | $ | 8,405

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953659-111524 + Details
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