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Loans Receivable and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2021

Loans Receivable and Allowance for Loan Losses [Abstract]

Composition of the Loan Portfolio

	June 30, 2021						December 31, 2020
Real Estate Loans:
Residential	$	258,130		18.6	%		$	263,127		18.6	%
Commercial		597,906		43.0				579,104		41.0
Agricultural		64,245		4.6				66,334		4.7
Construction		21,839		1.6				21,005		1.5
Commercial loans		250,872		18.1				283,741		20.1
Other agricultural loans		41,836		3.0				40,929		2.9
Consumer loans to individuals		154,792		11.1				158,049		11.2
Total loans		1,389,620		100.0	%			1,412,289		100.0	%
Deferred fees, net		(2,966)						(1,557)
Total loans receivable		1,386,654						1,410,732
Allowance for loan losses		(15,340)						(13,150)
Net loans receivable	$	1,371,314					$	1,397,582

Information Regarding Loans Acquired and Accounted for in Accordance With ASC 310-30

	June 30, 2021			December 31, 2020
Outstanding Balance	$	13,526		$	15,570
Carrying Amount	$	8,398		$	9,281

Changes in the Accretable Yield for Purchased Credit-impaired Loans

	2021			2020
Balance at beginning of period	$	1,365		$	—
Additions		—			—
Accretion		(357)			—
Reclassification and other		11			—
Balance at end of period	$	1,019		$	—

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
June 30, 2021	(In thousands)
Individually evaluated for impairment	$	—		$	1,206		$	858		$	—		$	20		$	125		$	—		$	2,209
Loans acquired with deteriorated credit quality		572			3,460			1,906			202			131			2,127			—			8,398
Collectively evaluated for impairment		257,558			593,240			61,481			21,637			250,721			39,584			154,792			1,379,013
Total Loans	$	258,130		$	597,906		$	64,245		$	21,839		$	250,872		$	41,836		$	154,792		$	1,389,620

	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

Impaired Loans and Related Interest Income by Loan Portfolio Class

	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

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
June 30, 2021					(in thousands)
With no related allowance recorded:
Real Estate Loans:
Commercial	$	1,206		$	2,078		$	—
Agriculture		858			858
Commercial Loans		20			20			—
Other agricultural loans		125			125			—
Subtotal	$	2,209		$	3,081		$	—
Total:
Real Estate Loans:
Commercial	$	1,206		$	2,078		$	—
Agriculture		858			858
Commercial Loans		20			20			—
Other agricultural loans		125			125			—
Total Impaired Loans	$	2,209		$	3,081		$	—

				Unpaid
	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		$	—

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 June 30, 2021 and 2020, respectively (in thousands):

	Average Recorded						Interest Income
	Investment						Recognized
	2021			2020			2021			2020
Real Estate Loans:
Commercial	$	1,467		$	2,094		$	—		$	3
Agriculture		858			—			—			—
Commercial Loans		29			—			—			—
Other agricultural loans		125			—			—			—
Total	$	2,479		$	2,094		$	—		$	3

The following table presents the average recorded investment in impaired loans and the related amount of interest income recognized during the six-month periods ended June 30, 2021 and 2020, respectively (in thousands):

	Average Recorded						Interest Income
	Investment						Recognized
	2021			2020			2021			2020
Real Estate Loans:
Commercial	$	1,541		$	2,096		$	1		$	6
Agriculture		858			—			—			—
Commercial Loans		19			—			—			—
Other agricultural loans		110			—			—			—
Total	$	2,528		$	2,096		$	1		$	6

Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating

				Special						Doubtful
	Pass			Mention			Substandard			or Loss			Total
June 30, 2021
Commercial real estate loans	$	586,338		$	6,302		$	5,266		$	—		$	597,906
Real estate - agricultural		61,415			66			2,764			—			64,245
Commercial loans		250,388			229			255			—			250,872
Other agricultural loans		38,007			272			3,557			—			41,836
Total	$	936,148		$	6,869		$	11,842		$	—		$	954,859

				Special						Doubtful
	Pass			Mention			Substandard			or 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

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 June 30, 2021 and December 31, 2020 (in thousands):

	Performing			Nonperforming			Total
June 30, 2021
Residential real estate loans	$	257,644		$	486		$	258,130
Construction		21,839			—			21,839
Consumer loans to individuals		154,609			183			154,792
Total	$	434,092		$	669		$	434,761

	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

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
June 30, 2021
Real Estate loans
Residential	$	256,368		$	350		$	354		$	-		$	486		$	1,190		$	572		$	258,130
Commercial		592,870			253			205			-			1,118			1,576			3,460			597,906
Agricultural		61,663			-			-			-			676			676			1,906			64,245
Construction		21,637			-			-			-			-			-			202			21,839
Commercial loans		249,414			105			53			-			1,169			1,327			131			250,872
Other agricultural loans		39,020			381						-			308			689			2,127			41,836
Consumer loans		154,437			166			6			-			183			355			-			154,792
Total	$	1,375,409		$	1,255		$	618		$	-		$	3,940		$	5,813		$	8,398		$	1,389,620

	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, 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

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, 2020	$	1,960		$	8,004		$	150		$	1,360		$	1,676		$	13,150
Charge Offs		(5)			(439)			—			(174)			(261)			(879)
Recoveries		5			10			—			24			30			69
Provision for loan losses		273			2,005			(13)			293			442			3,000
Ending balance, June 30, 2021	$	2,233		$	9,580		$	137		$	1,503		$	1,887		$	15,340
Ending balance individually evaluated ‎for impairment	$	—		$	—		$	—		$	—		$	—		$	—
Ending balance collectively evaluated ‎for impairment	$	2,233		$	9,580		$	137		$	1,503		$	1,887		$	15,340

(In thousands)	Residential Real Estate			Commercial Real Estate			Construction			Commercial			Consumer			Total
Beginning balance, March 31, 2021	$	2,124		$	9,084		$	122		$	1,405		$	1,774		$	14,509
Charge Offs		-			(439)			-			(114)			(158)			(711)
Recoveries		3			6			-			16			17			42
Provision for loan losses		106			929			15			196			254			1,500
Ending balance, June 30, 2021	$	2,233		$	9,580		$	137		$	1,503		$	1,887		$	15,340

(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		(1)			(33)			—			(18)			(192)			(244)
Recoveries		3			6			—			18			20			47
Provision for loan losses		98			1,419			(9)			127			365			2,000
Ending balance, June 30, 2020	$	1,652		$	6,079		$	86		$	1,076		$	1,419		$	10,312
Ending balance individually evaluated ‎for impairment	$	—		$	392		$	—		$	—		$	—		$	392
Ending balance collectively evaluated ‎for impairment	$	1,652		$	5,687		$	86		$	1,076		$	1,419		$	9,920

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