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Loans Receivable and Allowance for Loan Losses (Tables) | 9 Months Ended
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Sep. 30, 2021
Loans Receivable and Allowance for Loan Losses [Abstract] |
Composition of the Loan Portfolio | September 30, 2021 December 31, 2020 Real Estate Loans: Residential$ 265,778 19.4% $ 263,127 18.6%Commercial 612,794 44.6 579,104 41.0 Agricultural 64,018 4.7 66,334 4.7 Construction 23,892 1.7 21,005 1.5 Commercial loans 216,692 15.8 283,741 20.1 Other agricultural loans 40,257 2.9 40,929 2.9 Consumer loans to individuals 149,343 10.9 158,049 11.2 Total loans 1,372,774 100.0% 1,412,289 100.0%Deferred fees, net (1,772) (1,557) Total loans receivable 1,371,002 1,410,732 Allowance for loan losses (16,103) (13,150) Net loans receivable$ 1,354,899 $ 1,397,582
Information Regarding Loans Acquired and Accounted for in Accordance With ASC 310-30 | September 30, 2021 December 31, 2020Outstanding Balance$ 13,332 $ 15,570Carrying Amount$ 8,481 $ 9,281
Changes in the Accretable Yield for Purchased Credit-impaired Loans | 2021 2020Balance at beginning of period $ 1,365 $ 97Additions — 1,724Accretion (523) (179)Reclassification and other 993 (96)Balance at end of period$ 1,835 $ 1,546
Components Of Purchase Accounting Adjustments Related To Purchased Credit-impaired Loans Acquired | (In Thousands)July 7, 2020Contractually required principal and interest$ 15,410Non-accretable discount (5,213)Expected cash flows 10,197Accretable 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 TotalSeptember 30, 2021(In thousands) Individually evaluated for impairment$ — $ 1,603 $ 858 $ — $ 18 $ 126 $ — $ 2,605Loans acquired with deteriorated credit quality 787 3,405 1,959 — 128 2,202 — 8,481 Collectively evaluated for impairment 264,991 606,927 62,059 23,892 216,421 38,055 149,343 1,361,688Total Loans$ 265,778 $ 611,935 $ 64,876 $ 23,892 $ 216,567 $ 40,383 $ 149,343 $ 1,372,774 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 $ — $- $ 2,662Loans 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 1,400,346Total 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 | 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 AllowanceSeptember 30, 2021 (in thousands) With no related allowance recorded: Real Estate Loans: Commercial$ 83 $ 83 $ — Agriculture 858 858 —Commercial Loans 18 18 —Other agricultural loans 126 126 —Subtotal$ 1,085 $ 1,085 $ —With an allowance recorded: Real Estate - Commercial$ 1,520 $ 1,520 $ 275Subtotal$ 1,520 $ 1,520 $ 275Total: Real Estate Loans: Commercial$ 1,603 $ 1,603 $ 275 Agriculture 858 858 —Commercial Loans 18 18 —Other agricultural loans 126 126 —Total Impaired Loans$ 2,605 $ 2,605 $ 275 Unpaid Recorded Principal Associated Investment Balance AllowanceDecember 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 September 30, 2021 and 2020, respectively (in thousands): Average Recorded Interest Income Investment Recognized 2021 2020 2021 2020Real Estate Loans: Commercial$ 1,405 $ 1,874 $ 55 $ 2 Agriculture 858 — — —Commercial Loans 19 — — —Other agricultural loans 125 — — —Total $ 2,407 $ 1,874 $ 55 $ 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, 2021 and 2020, respectively (in thousands): Average Recorded Interest Income Investment Recognized 2021 2020 2021 2020Real Estate Loans: Commercial$ 1,560 $ 1,986 $ 56 $ 6 Agriculture 858 — — —Commercial Loans 19 — — —Other agricultural loans 114 — — —Total $ 2,551 $ 1,986 $ 56 $ 6
Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating | Special Doubtful Pass Mention Substandard or Loss TotalSeptember 30, 2021 Commercial real estate loans$ 602,548 $ 5,596 $ 4,375 $ 275 $ 612,794Real estate - agricultural 61,387 — 2,631 — 64,018Commercial loans 216,374 208 110 — 216,692Other agricultural loans 37,424 212 2,621 — 40,257Total$ 917,733 $ 6,016 $ 9,737 $ 275 $ 933,761 Special Doubtful Pass Mention Substandard or Loss TotalDecember 31, 2020 Commercial real estate loans$ 566,418 $ 6,346 $ 6,340 $ — $ 579,104Real estate - agricultural 58,322 5,111 2,901 — 66,334Commercial loans 282,915 437 389 — 283,741Other agricultural loans 35,772 2,786 2,371 — 40,929Total$ 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 September 30, 2021 and December 31, 2020 (in thousands): Performing Nonperforming TotalSeptember 30, 2021 Residential real estate loans$ 265,256 $ 522 $ 265,778Construction 23,892 — 23,892Consumer loans to individuals 149,243 100 149,343Total$ 438,391 $ 622 $ 439,013 Performing Nonperforming TotalDecember 31, 2020 Residential real estate loans$ 262,556 $ 571 $ 263,127Construction 21,005 — 21,005Consumer loans to individuals 157,864 185 158,049Total$ 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 LoansSeptember 30, 2021 Real Estate loans Residential$ 264,251 $ 186 $ 32 $ - $ 522 $ 740 $ 787 $ 265,778Commercial 609,048 244 58 - 39 341 3,405 612,794Agricultural 61,201 - - - 858 858 1,959 64,018Construction 23,831 61 - - - 61 - 23,892Commercial loans 215,349 112 26 - 1,077 1,215 128 216,692Other agricultural loans 37,929 - - 126 126 2,202 40,257Consumer loans 148,858 310 75 - 100 485 - 149,343Total$ 1,360,467 $ 913 $ 191 $ - $ 2,722 $ 3,826 $ 8,481 $ 1,372,774 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 LoansDecember 31, 2020 Real Estate loans Residential$ 261,406 $ 355 $ 204 $ - $ 571 $ 1,130 $ 591 $ 263,127Commercial 573,376 59 - - 1,674 1,733 3,995 579,104Agricultural 63,615 - - 676 676 2,043 66,334Construction 20,811 - - - - - 194 21,005Commercial loans 282,374 1,009 90 - 22 1,121 246 283,741Other agricultural loans 38,454 - - 263 263 2,212 40,929Consumer loans 157,538 233 93 - 185 511 - 158,049Total$ 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 TotalBeginning balance, December 31, 2020$ 1,960 $ 8,004 $ 150 $ 1,360 $ 1,676 $ 13,150Charge Offs (5) (452) — (174) (368) (999)Recoveries 64 15 — 33 90 202Provision for loan losses 424 2,324 13 386 603 3,750Ending balance, September 30, 2021$ 2,443 $ 9,891 $ 163 $ 1,605 $ 2,001 $ 16,103Ending balance individually evaluated‎for impairment$ — $ 275 $ — $ — $ — $ 275Ending balance collectively evaluated‎for impairment$ 2,443 $ 9,616 $ 163 $ 1,605 $ 2,001 $ 15,828 (In thousands)Residential Real Estate Commercial Real Estate Construction Commercial Consumer TotalBeginning balance, June 30, 2021$ 2,233 $ 9,580 $ 137 $ 1,503 $ 1,887 $ 15,340Charge Offs - (13) - - (107) (120)Recoveries 59 5 - 9 60 133Provision for loan losses 151 319 26 93 161 750Ending balance, September 30, 2021$ 2,443 $ 9,891 $ 163 $ 1,605 $ 2,001 $ 16,103 (In thousands)Residential Real Estate Commercial Real Estate Construction Commercial Consumer TotalBeginning balance, December 31, 2019$ 1,552 $ 4,687 $ 95 $ 949 $ 1,226 $ 8,509Charge Offs (41) (433) — (18) (275) (767)Recoveries 5 10 — 36 31 82Provision for loan losses 162 2,904 30 242 512 3,850Ending balance, September 30, 2020$ 1,678 $ 7,168 $ 125 $ 1,209 $ 1,494 $ 11,674Ending balance individually evaluated‎for impairment$ — $ — $ — $ — $ — $ —Ending balance collectively evaluated‎for impairment$ 1,678 $ 7,168 $ 125 $ 1,209 $ 1,494 $ 11,674

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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=124255953&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=123577603&loc=SL6953659-111524 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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