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Loans Receivable and Allowance for Loan Losses (Tables) | 3 Months Ended
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Mar. 31, 2022
Loans Receivable and Allowance for Loan Losses [Abstract] |
Composition of the Loan Portfolio |
| March 31, 2022 |  |  | December 31, 2021 |
Real Estate Loans: |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 276,592 |  | 20.2 | % |  | $ | 273,040 |  | 20.1 | %
Commercial |  | 641,581 |  | 46.7 |  |  |  | 628,724 |  | 46.4 |
Agricultural |  | 64,153 |  | 4.7 |  |  |  | 61,925 |  | 4.6 |
Construction |  | 19,407 |  | 1.4 |  |  |  | 21,990 |  | 1.6 |
Commercial loans |  | 183,212 |  | 13.3 |  |  |  | 186,031 |  | 13.7 |
Other agricultural loans |  | 36,729 |  | 2.7 |  |  |  | 37,930 |  | 2.8 |
Consumer loans to individuals |  | 150,818 |  | 11.0 |  |  |  | 146,400 |  | 10.8 |
Total loans |  | 1,372,492 |  | 100.0 | % |  |  | 1,356,040 |  | 100.0 | %
Deferred fees, net |  | (847) |  |  |  |  |  | (1,109) |  |  |
Total loans receivable |  | 1,371,645 |  |  |  |  |  | 1,354,931 |  |  |
Allowance for loan losses |  | (16,660) |  |  |  |  |  | (16,442) |  |  |
Net loans receivable | $ | 1,354,985 |  |  |  |  | $ | 1,338,489 |  |  |
Information Regarding Loans Acquired and Accounted for in Accordance With ASC 310-30 |
| March 31, 2022 |  | December 31, 2021
Outstanding Balance | $ | 10,239 |  | $ | 12,862
Carrying Amount | $ | 6,814 |  | $ | 8,304
Changes in the Accretable Yield for Purchased Credit-impaired Loans |
| 2022 |  | 2021
Balance at beginning of period | $ | 1,884 |  | $ | 1,365
Additions |  | — |  |  | —
Accretion |  | (258) |  |  | (176)
Reclassification and other |  | (386) |  |  | 43
Balance at end of period | $ | 1,240 |  | $ | 1,232
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
March 31, 2022 | (In thousands)
Individually evaluated for impairment | $ | — |  | $ | 1,643 |  | $ | — |  | $ | — |  | $ | 16 |  | $ | — |  | $ | — |  | $ | 1,659
Loans acquired with deteriorated credit quality |  | 669 |  |  | 2,744 |  |  | 1,925 |  |  | — |  |  | — |  |  | 1,476 |  |  | — |  |  | 6,814
Collectively evaluated for impairment |  | 275,923 |  |  | 637,194 |  |  | 62,228 |  |  | 19,407 |  |  | 183,196 |  |  | 35,253 |  |  | 150,818 |  |  | 1,364,019
Total Loans | $ | 276,592 |  | $ | 641,581 |  | $ | 64,153 |  | $ | 19,407 |  | $ | 183,212 |  | $ | 36,729 |  | $ | 150,818 |  | $ | 1,372,492
| Real Estate Loans |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  | Commercial |  |  | Other |  | Consumer |  |  |
| Residential |  | Commercial |  |  | Agricultural |  | Construction |  | Loans |  |  | Agricultural |  | Loans |  | Total
| (In thousands)
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | - |  | $ | 1,658 |  | $ | — |  | $ | - |  | $ | 16 |  | $ | — |  | $ | - |  | $ | 1,674
Loans acquired with deteriorated credit quality |  | 784 |  |  | 3,285 |  |  | 1,918 |  |  | - |  |  | 198 |  |  | 2,119 |  |  | - |  |  | 8,304
Collectively evaluated for impairment |  | 272,256 |  |  | 623,781 |  |  | 60,007 |  |  | 21,990 |  |  | 185,817 |  |  | 35,811 |  |  | 146,400 |  |  | 1,346,062
Total Loans | $ | 273,040 |  | $ | 628,724 |  | $ | 61,925 |  | $ | 21,990 |  | $ | 186,031 |  | $ | 37,930 |  | $ | 146,400 |  | $ | 1,356,040
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
March 31, 2022 |  |  |  |  | (in thousands) |  |
With no related allowance recorded: |  |  |  |  |  |  |  |
Real Estate Loans: |  |  |  |  |  |  |  |
Commercial | $ | 1,643 |  | $ | 1,643 |  | $ | —
Commercial Loans |  | 16 |  |  | 16 |  |  | —
Subtotal | $ | 1,659 |  | $ | 1,659 |  | $ | —
Total: |  |  |  |  |  |  |  |
Real Estate Loans: |  |  |  |  |  |  |  |
Commercial | $ | 1,643 |  | $ | 1,643 |  | $ | —
Commercial Loans |  | 16 |  |  | 16 |  |  | —
Total Impaired Loans | $ | 1,659 |  | $ | 1,659 |  | $ | —
|  |  |  | Unpaid |  |  |
| Recorded |  | Principal |  | Associated
| Investment |  | Balance |  | Allowance
December 31, 2021 |  |  |  |  | (in thousands) |  |
With no related allowance recorded: |  |  |  |  |  |  |  |
Real Estate Loans: |  |  |  |  |  |  |  |
Commercial | $ | 141 |  | $ | 141 |  | $ | —
Commercial Loans |  | 16 |  |  | 16 |  |  | —
Subtotal |  | 157 |  |  | 157 |  |  | —
With an allowance recorded: |  |  |  |  |  |  |  |
Real Estate Loans |  |  |  |  |  |  |  |
Commercial |  | 1,517 |  |  | 1,517 |  |  | 272
Subtotal |  | 1,517 |  |  | 1,517 |  |  | 272
Total: |  |  |  |  |  |  |  |
Real Estate Loans: |  |  |  |  |  |  |  |
Commercial |  | 1,658 |  |  | 1,658 |  |  | 272
Commercial Loans |  | 16 |  |  | 16 |  |  | —
Total Impaired Loans | $ | 1,674 |  | $ | 1,674 |  | $ | 272
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 March 31, 2022 and 2021, respectively (in thousands):
| Average Recorded |  | Interest Income
| Investment |  | Recognized
| 2022 |  | 2021 |  | 2022 |  | 2021
Real Estate Loans: |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 1,650 |  | $ | 2,566 |  | $ | 17 |  | $ | 1
Commercial Loans |  | 16 |  |  | 122 |  |  | — |  |  | —
Total | $ | 1,666 |  | $ | 2,688 |  | $ | 17 |  | $ | 1
Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating |
|  |  |  | Special |  |  |  |  | Doubtful |  |  |
| Pass |  | Mention |  | Substandard |  | or Loss |  | Total
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate loans | $ | 635,807 |  | $ | 1,093 |  | $ | 4,681 |  | $ | — |  | $ | 641,581
Real estate - agricultural |  | 62,413 |  |  | — |  |  | 1,740 |  |  | — |  |  | 64,153
Commercial loans |  | 182,927 |  |  | 195 |  |  | 90 |  |  | — |  |  | 183,212
Other agricultural loans |  | 35,101 |  |  | 207 |  |  | 1,421 |  |  | — |  |  | 36,729
Total | $ | 916,248 |  | $ | 1,495 |  | $ | 7,932 |  | $ | — |  | $ | 925,675
|  |  |  | Special |  |  |  |  | Doubtful |  |  |
| Pass |  | Mention |  | Substandard |  | or Loss |  | Total
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate loans | $ | 618,541 |  | $ | 5,146 |  | $ | 4,765 |  | $ | 272 |  | $ | 628,724
Real estate - agricultural |  | 60,193 |  |  | — |  |  | 1,732 |  |  | — |  |  | 61,925
Commercial loans |  | 185,729 |  |  | 199 |  |  | 103 |  |  | — |  |  | 186,031
Other agricultural loans |  | 35,573 |  |  | 210 |  |  | 2,147 |  |  | — |  |  | 37,930
Total | $ | 900,036 |  | $ | 5,555 |  | $ | 8,747 |  | $ | 272 |  | $ | 914,610
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 March 31, 2022 and December 31, 2021 (in thousands):
| Performing |  | Nonperforming |  | Total
March 31, 2022 |  |  |  |  |  |  |  |
Residential real estate loans | $ | 276,132 |  | $ | 460 |  | $ | 276,592
Construction |  | 19,407 |  |  | — |  |  | 19,407
Consumer loans to individuals |  | 150,687 |  |  | 131 |  |  | 150,818
Total | $ | 446,226 |  | $ | 591 |  | $ | 446,817
| Performing |  | Nonperforming |  | Total
December 31, 2021 |  |  |  |  |  |  |  |
Residential real estate loans | $ | 272,571 |  | $ | 469 |  | $ | 273,040
Construction |  | 21,990 |  |  | — |  |  | 21,990
Consumer loans to individuals |  | 146,345 |  |  | 55 |  |  | 146,400
Total | $ | 440,906 |  | $ | 524 |  | $ | 441,430
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
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real Estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 275,081 |  | $ | 242 |  | $ | 140 |  | $ | - |  | $ | 460 |  | $ | 842 |  | $ | 669 |  | $ | 276,592
Commercial |  | 638,502 |  |  | 194 |  |  | 40 |  |  | - |  |  | 101 |  |  | 335 |  |  | 2,744 |  |  | 641,581
Agricultural |  | 62,228 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1,925 |  |  | 64,153
Construction |  | 19,407 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 19,407
Commercial loans |  | 183,122 |  |  | 74 |  |  | - |  |  | - |  |  | 16 |  |  | 90 |  |  | - |  |  | 183,212
Other agricultural loans |  | 35,163 |  |  | 90 |  |  |  |  |  | - |  |  | - |  |  | 90 |  |  | 1,476 |  |  | 36,729
Consumer loans |  | 150,451 |  |  | 167 |  |  | 69 |  |  | - |  |  | 131 |  |  | 367 |  |  | - |  |  | 150,818
Total | $ | 1,363,954 |  | $ | 767 |  | $ | 249 |  | $ | - |  | $ | 708 |  | $ | 1,724 |  | $ | 6,814 |  | $ | 1,372,492
| 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, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real Estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential | $ | 271,622 |  | $ | 155 |  | $ | 10 |  | $ | - |  | $ | 469 |  | $ | 634 | - | $ | 784 |  | $ | 273,040
Commercial |  | 625,336 |  |  | - |  |  | - |  |  | - |  |  | 103 |  |  | 103 | - |  | 3,285 |  |  | 628,724
Agricultural |  | 59,982 |  |  | 25 |  |  | - |  |  |  |  |  | - |  |  | 25 |  |  | 1,918 |  |  | 61,925
Construction |  | 21,990 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - | - |  | - |  |  | 21,990
Commercial loans |  | 185,801 |  |  | 3 |  |  | 13 |  |  | 91 |  |  | 16 |  |  | 32 | - |  | 198 |  |  | 186,031
Other agricultural loans |  | 35,811 |  |  | - |  |  | - |  |  |  |  |  | - |  |  | - |  |  | 2,119 |  |  | 37,930
Consumer loans |  | 145,986 |  |  | 248 |  |  | 111 |  |  | - |  |  | 55 |  |  | 414 | - |  | - |  |  | 146,400
Total | $ | 1,346,528 |  | $ | 431 |  | $ | 134 |  | $ | 91 |  | $ | 643 |  | $ | 1,208 | - | $ | 8,304 |  | $ | 1,356,040
Allowance for Loan Losses and Recorded Investment in Financing Receivables |
(In thousands) | Residential Real Estate |  | Commercial Real Estate |  |  | Agricultural |  |  | Construction |  | Commercial |  |  | Other Agricultural |  | Consumer |  | Total
Beginning balance, December 31, 2021 | $ | 2,175 |  | $ | 10,878 |  | $ | - |  | $ | 133 |  | $ | 1,490 |  | $ | - |  | $ | 1,766 |  | $ | 16,442
Charge Offs |  | (115) |  |  | - |  |  | - |  |  | - |  |  | (15) |  |  | - |  |  | (52) |  |  | (182)
Recoveries |  | 2 |  |  | 74 |  |  | - |  |  | - |  |  | 9 |  |  | - |  |  | 15 |  |  | 100
Provision for loan losses |  | 264 |  |  | (665) |  |  | 504 |  |  | 1 |  |  | 11 |  |  | 292 |  |  | (107) |  |  | 300
Ending balance, March 31, 2022 | $ | 2,326 |  | $ | 10,287 |  | $ | 504 |  | $ | 134 |  | $ | 1,495 |  | $ | 292 |  | $ | 1,622 |  | $ | 16,660
Ending balance individually evaluated ‎for impairment | $ | - |  | $ | 1,643 |  | $ | - |  | $ | - |  | $ | 16 |  | $ | - |  | $ | - |  | $ | 1,659
Ending balance collectively evaluated ‎for impairment | $ | 2,326 |  | $ | 8,644 |  | $ | 504 |  | $ | 134 |  | $ | 1,479 |  | $ | 292 |  | $ | 1,622 |  | $ | 15,001
(In thousands) | Residential Real Estate |  | Commercial Real Estate |  |  | Agricultural |  |  | Construction |  | Commercial |  |  | Other Agricultural |  | Consumer |  | Total
Beginning balance, December 31, 2020 | $ | 1,960 |  | $ | 8,004 |  | $ | - |  | $ | 150 |  | $ | 1,360 |  | $ | - |  | $ | 1,676 |  | $ | 13,150
Charge Offs |  | (5) |  |  | - |  |  | - |  |  | - |  |  | (60) |  |  | - |  |  | (103) |  |  | (168)
Recoveries |  | 2 |  |  | 4 |  |  | - |  |  | - |  |  | 8 |  |  | - |  |  | 13 |  |  | 27
Provision for loan losses |  | 167 |  |  | 1,076 |  |  | - |  |  | (28) |  |  | 97 |  |  | - |  |  | 188 |  |  | 1,500
Ending balance, March 31, 2021 | $ | 2,124 |  | $ | 9,084 |  | $ | — |  | $ | 122 |  | $ | 1,405 |  | $ | — |  | $ | 1,774 |  | $ | 14,509
Ending balance individually evaluated ‎for impairment | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 38 |  | $ | - |  | $ | — |  | $ | 38
Ending balance collectively evaluated ‎for impairment | $ | 2,124 |  | $ | 9,084 |  | $ | — |  | $ | 122 |  | $ | 1,367 |  | $ | — |  | $ | 1,774 |  | $ | 14,471

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