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Loans Receivable and Allowance for Loan Losses (Tables) | 12 Months Ended
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Dec. 31, 2020
Loans Receivable and Allowance for Loan Losses [Abstract] |
Composition of the Loan Portfolio |
| December 31, 2020 |  |  | December 31, 2019 |
Real Estate: |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 263,127 |  | 18.6 | % |  | $ | 229,781 |  | 24.9 | %
Commercial |  | 579,104 |  | 41.0 |  |  |  | 391,327 |  | 42.3 |
Agricultural |  | 66,334 |  | 4.7 |  |  |  | — |  | — |
Construction |  | 21,005 |  | 1.5 |  |  |  | 17,732 |  | 1.9 |
Commercial loans |  | 283,741 |  | 20.1 |  |  |  | 134,150 |  | 14.5 |
Other agricultural loans |  | 40,929 |  | 2.9 |  |  |  | — |  | — |
Consumer loans to individuals |  | 158,049 |  | 11.2 |  |  |  | 151,686 |  | 16.4 |
Total loans |  | 1,412,289 |  | 100.0 | % |  |  | 924,676 |  | 100.0 | %
Deferred fees, net |  | (1,557) |  |  |  |  |  | (95) |  |  |
Total loans receivable |  | 1,410,732 |  |  |  |  |  | 924,581 |  |  |
Allowance for loan losses |  | (13,150) |  |  |  |  |  | (8,509) |  |  |
Net loans receivable | $ | 1,397,582 |  |  |  |  | $ | 916,072 |  |  |
Changes in the Accretable Yield for Purchased Credit-impaired Loans |
| 2020 |  | 2019
Balance at beginning of period | $ | — |  | $ | 29
Additions |  | 1,724 |  |  | —
Accretion |  | (353) |  |  | (29)
Reclassification and other |  | (6) |  |  | —
Balance at end of period | $ | 1,365 |  | $ | —
Information Regarding Loans Acquired and Accounted for in Accordance With ASC 310-30 |
| December 31, 2020 |  | December 31, 2019
Outstanding Balance |  |  |  |  |
| $ | 15,570 |  | $ | 793
Carrying Amount |  |  |  |  |
| $ | 9,281 |  | $ | 696
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
| (In thousands)
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | — |  | $ | 2,582 |  | $ | — |  | $ | — |  | $ | 80 |  | $ | — |  | $ | — |  | $ | 2,662
Loans acquired with deteriorated credit quality |  | 591 |  |  | 3,995 |  |  | 2,043 |  |  | 194 |  |  | 246 |  |  | 2,212 |  |  | — |  |  | 9,281
Collectively evaluated for impairment |  | 262,536 |  |  | 572,527 |  |  | 64,291 |  |  | 20,811 |  |  | 283,415 |  |  | 38,717 |  |  | 158,049 |  |  | 1,400,346
Total Loans | $ | 263,127 |  | $ | 579,104 |  | $ | 66,334 |  | $ | 21,005 |  | $ | 283,741 |  | $ | 40,929 |  | $ | 158,049 |  | $ | 1,412,289
| Real Estate Loans |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  | Commercial |  |  | Other |  | Consumer |  |  |
| Residential |  | Commercial |  |  | Agricultural |  | Construction |  | Loans |  |  | Agricultural |  | Loans |  | Total
| (In thousands)
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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 Principal |  |  |
| Recorded |  | Principal |  | Associated
| Investment |  | Balance |  | Allowance
December 31, 2020 | (In thousands)
With no related allowance recorded: |  |  |  |  |  |  |  |
Real Estate Loans |  |  |  |  |  |  |  |
Commercial | $ | 2,582 |  | $ | 3,234 |  | $ | —
Commercial loans |  | 80 |  |  | 80 |  |  | —
Subtotal |  | 2,662 |  |  | 3,314 |  |  | —
Total: |  |  |  |  |  |  |  |
Real Estate Loans |  |  |  |  |  |  |  |
Commercial | $ | 2,582 |  | $ | 3,234 |  | $ | —
Commercial loans |  | 80 |  |  | 80 |  |  | —
Total Impaired Loans | $ | 2,662 |  | $ | 3,314 |  | $ | —
|  |  |  | 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 information for impaired loans is presented for the years ended December 31, 2020 and 2019:
| Average Recorded |  | Interest Income
| Investment |  | Recognized
| 2020 |  | 2019 |  | 2020 |  | 2019
| (In thousands)
Total: |  |  |  |  |  |  |  |  |  |  |
Real Estate Loans |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 2,105 |  | $ | 1,036 |  | $ | 14 |  | $ | 233
Commercial loans |  | 16 |  |  | — |  |  | — |  |  | —
Total Loans | $ | 2,121 |  | $ | 1,036 |  | $ | 14 |  | $ | 233
Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating |
|  |  |  | Special |  |  |  |  |  |  |  |  |  |  |  |
| Pass |  | Mention |  | Substandard |  | Doubtful |  | Loss |  | Total
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate loans | $ | 566,418 |  | $ | 6,346 |  | $ | 6,340 |  | $ | — |  | $ | — |  | $ | 579,104
Real estate - agricultural |  | 58,322 |  |  | 5,111 |  |  | 2,901 |  |  | — |  |  | — |  |  | 66,334
Commercial loans |  | 282,915 |  |  | 437 |  |  | 389 |  |  | — |  |  | — |  |  | 283,741
Other agricultural loans |  | 35,772 |  |  | 2,786 |  |  | 2,371 |  |  | — |  |  | — |  |  | 40,929
Total | $ | 943,427 |  | $ | 14,680 |  | $ | 12,001 |  | $ | — |  | $ | — |  | $ | 970,108
|  |  |  | Special |  |  |  |  |  |  |  |  |  |  |  |
| Pass |  | Mention |  | Substandard |  | Doubtful |  | Loss |  | Total
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate loans | $ | 376,109 |  | $ | 12,268 |  | $ | 2,950 |  | $ | - |  | $ | - |  | $ | 391,327
Commercial |  | 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. Nonperforming loans include loans that have been placed on nonaccrual status and loans remaining in accrual status on which the contractual payment of principal and interest has become 90 days past due. The following table presents the recorded investment in the loan classes based on payment activity as of December 31, 2020 and December 31, 2019 (in thousands):
| Performing |  | Nonperforming |  | Total
December 31, 2020 |  |  |  |  |  |  |  |
Residential real estate loans | $ | 262,556 |  | $ | 571 |  | $ | 263,127
Construction |  | 21,005 |  |  | — |  |  | 21,005
Consumer loans to individuals |  | 157,864 |  |  | 185 |  |  | 158,049
Total | $ | 441,425 |  | $ | 756 |  | $ | 442,181
| Performing |  | Nonperforming |  | Total
December 31, 2019 |  |  |  |  |  |  |  |
Residential real estate loans | $ | 229,214 |  | $ | 567 |  | $ | 229,781
Construction |  | 17,732 |  |  | — |  |  | 17,732
Consumer loans to individuals |  | 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 |  | Non-Accrual |  | Total Past Due and Non-Accrual |  | Purchased Credit Impaired Loans |  | Total Loans
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real Estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 261,406 |  | $ | 355 |  | $ | 204 |  | $ | — |  | $ | 571 |  | $ | 1,130 |  | $ | 591 |  | $ | 263,127
Commercial |  | 573,376 |  |  | 59 |  |  | — |  |  | — |  |  | 1,674 |  |  | 1,733 |  |  | 3,995 |  |  | 579,104
Agricultural |  | 63,615 |  |  | — |  |  | — |  |  | — |  |  | 676 |  |  | 676 |  |  | 2,043 |  |  | 66,334
Construction |  | 20,811 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 194 |  |  | 21,005
Commercial loans |  | 282,374 |  |  | 1,009 |  |  | 90 |  |  | — |  |  | 22 |  |  | 1,121 |  |  | 246 |  |  | 283,741
Other agricultural loans |  | 38,454 |  |  | — |  |  | — |  |  | — |  |  | 263 |  |  | 263 |  |  | 2,212 |  |  | 40,929
Consumer loans |  | 157,538 |  |  | 233 |  |  | 93 |  |  | — |  |  | 185 |  |  | 511 |  |  | - |  |  | 158,049
Total | $ | 1,397,574 |  | $ | 1,656 |  | $ | 387 |  | $ | — |  | $ | 3,391 |  | $ | 5,434 |  | $ | 9,281 |  | $ | 1,412,289
| Current |  | 31-60 Days Past Due |  | 61-90 Days Past Due |  | Greater than 90 Days Past Due and still accruing |  | Non-Accrual |  | Total Past Due and Non-Accrual |  | Purchased Credit Impaired Loans |  | 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 | The following table presents the allowance for loan losses by the classes of the loan portfolio:
(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) |  |  | (452) |  |  | — |  |  | (18) |  |  | (431) |  |  | (942)
Recoveries |  | 6 |  |  | 39 |  |  | — |  |  | 44 |  |  | 44 |  |  | 133
Provision for loan losses |  | 443 |  |  | 3,730 |  |  | 55 |  |  | 385 |  |  | 837 |  |  | 5,450
Ending balance, December 31, 2020 | $ | 1,960 |  | $ | 8,004 |  | $ | 150 |  | $ | 1,360 |  | $ | 1,676 |  | $ | 13,150
Ending balance individually evaluated ‎for impairment | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Ending balance collectively evaluated for impairment | $ | 1,960 |  | $ | 8,004 |  | $ | 150 |  | $ | 1,360 |  | $ | 1,676 |  | $ | 13,150
(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 |  | (102) |  |  | (627) |  |  | — |  |  | (284) |  |  | (420) |  |  | (1,433)
Recoveries |  | 24 |  |  | 125 |  |  | — |  |  | 48 |  |  | 43 |  |  | 240
Provision for loan losses |  | 302 |  |  | (266) |  |  | 2 |  |  | 473 |  |  | 739 |  |  | 1,250
Ending balance, December 31, 2019 | $ | 1,552 |  | $ | 4,687 |  | $ | 95 |  | $ | 949 |  | $ | 1,226 |  | $ | 8,509
Ending balance individually evaluated ‎for impairment | $ | — |  | $ | 417 |  | $ | — |  | $ | — |  | $ | — |  | $ | 417
Ending balance collectively evaluated for impairment | $ | 1,552 |  | $ | 4,270 |  | $ | 95 |  | $ | 949 |  | $ | 1,226 |  | $ | 8,092

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