XML 38 R28.htm IDEA: XBRL DOCUMENT v3.25.1
Loans Receivable and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2025
Loans Receivable and Allowance for Credit Losses [Abstract]  
Composition of the Loan Portfolio

March 31, 2025

December 31, 2024

Real Estate Loans:

Residential

$

330,288

18.6

%

$

330,856

19.3

%

Commercial

731,156

41.3

716,875

41.8

Agricultural

63,213

3.6

63,488

3.7

Construction

58,226

3.3

53,020

3.1

Commercial loans

233,479

13.2

211,991

12.4

Other agricultural loans

27,637

1.5

30,077

1.7

Consumer loans to individuals

327,683

18.5

307,775

18.0

Total loans

1,771,682

100.0

%

1,714,082

100.0

%

Deferred fees, net

(413)

(444)

Total loans receivable

1,771,269

1,713,638

Allowance for credit losses

(20,442)

(19,843)

Net loans receivable

$

1,750,827

$

1,693,795
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, 2025

(In thousands)

Individually evaluated

$

838

$

7,194

$

—

$

11

$

847

$

10

$

1,200

$

10,100

Collectively evaluated

329,450

723,962

63,213

58,215

232,632

27,627

326,483

1,761,582

Total Loans

$

330,288

$

731,156

$

63,213

$

58,226

$

233,479

$

27,637

$

327,683

$

1,771,682

Real Estate Loans

Commercial

Other

Consumer

Residential

Commercial

Agricultural

Construction

Loans

Agricultural

Loans

Total

(In thousands)

December 31, 2024

Individually evaluated

$

940

$

7,197

$

—

$

—

$

854

$

—

$

1,031

$

10,022

Collectively evaluated

329,916

709,678

63,488

53,020

211,137

30,077

306,744

1,704,060

Total Loans

$

330,856

$

716,875

$

63,488

$

53,020

$

211,991

$

30,077

$

307,775

$

1,714,082
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

Total Loans

March 31, 2025

Real Estate loans

Residential

$

328,882

$

313

$

255

$

-

$

838

$

1,406

$

330,288

Commercial

723,861

945

611

-

5,739

7,295

731,156

Agricultural

62,608

605

-

-

-

605

63,213

Construction

58,215

-

-

11

-

11

58,226

Commercial loans

233,009

280

37

-

153

470

233,479

Other agricultural loans

27,463

164

-

10

-

174

27,637

Consumer loans

325,548

597

338

-

1,200

2,135

327,683

Total

$

1,759,586

$

2,904

$

1,241

$

21

$

7,930

$

12,096

$

1,771,682

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

Total Loans

December 31, 2024

Real Estate loans

Residential

$

329,578

$

70

$

268

$

-

$

940

$

1,278

$

330,856

Commercial

709,821

1,182

129

-

5,743

7,054

716,875

Agricultural

63,488

-

-

-

-

63,488

Construction

53,009

11

-

-

-

11

53,020

Commercial loans

211,520

194

117

33

127

471

211,991

Other agricultural loans

30,028

49

-

-

49

30,077

Consumer loans

305,676

805

263

121

910

2,099

307,775

Total

$

1,703,120

$

2,311

$

777

$

154

$

7,720

$

10,962

$

1,714,082
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, 2024

$

1,146

$

11,406

$

48

$

884

$

1,732

$

162

$

4,465

$

19,843

Charge Offs

-

(49)

-

-

-

(38)

(329)

(416)

Recoveries

-

-

-

-

54

-

38

92

(Release of) Provision for credit losses

(131)

(772)

33

101

186

45

1,461

923

Ending balance, March 31, 2025

$

1,015

$

10,585

$

81

$

985

$

1,972

$

169

$

5,635

$

20,442

Ending balance individually evaluated

$

-

$

315

$

-

$

-

$

-

$

11

$

329

$

655

Ending balance collectively evaluated

$

1,015

$

10,270

$

81

$

985

$

1,972

$

158

$

5,306

$

19,787

(In thousands)

Residential Real Estate

Commercial Real Estate

Agricultural

Construction

Commercial

Other Agricultural

Consumer

Total

Beginning balance, December 31, 2023

$

1,351

$

11,871

$

58

$

933

$

1,207

$

94

$

3,454

$

18,968

Charge Offs

-

-

-

-

(55)

-

(439)

(494)

Recoveries

42

102

-

-

—

-

27

171

(Release of) Provision for credit losses

(196)

(2,142)

26

(102)

835

74

880

(625)

Ending balance, March 31, 2024

$

1,197

$

9,831

$

84

$

831

$

1,987

$

168

$

3,922

$

18,020

Ending balance individually evaluated
‎for impairment

$

-

$

-

$

-

$

-

$

-

$

-

$

69

$

69

Ending balance collectively evaluated
‎for impairment

$

1,197

$

9,831

$

84

$

831

$

1,987

$

168

$

3,853

$

17,951
Summary of Carrying Value of Loan on Nonaccrual Status

Nonaccrual

Nonaccrual

Loans Past Due

with no

with

Total

Over 90 Days

Total

ACL

ACL

Nonaccrual

Still Accruing

Nonperforming

March 31, 2025

Real Estate loans

Residential

$

838

$

-

$

838

$

-

$

838

Commercial

5,718

21

5,739

-

5,739

Agricultural

-

-

-

-

-

Construction

-

-

-

11

11

Commercial loans

153

-

153

-

153

Other agricultural loans

-

-

-

10

10

Consumer loans

237

963

1,200

-

1,200

Total

$

6,946

$

984

$

7,930

$

21

$

7,951

Nonaccrual

Nonaccrual

Loans Past Due

with no

with

Total

Over 90 Days

Total

ACL

ACL

Nonaccrual

Still Accruing

Nonperforming

December 31, 2024

Real Estate loans

Residential

$

936

$

4

$

940

$

-

$

940

Commercial

5,739

4

5,743

-

5,743

Agricultural

-

-

-

-

-

Construction

-

-

-

-

-

Commercial loans

127

-

127

33

160

Other agricultural loans

-

-

-

-

-

Consumer loans

570

340

910

121

1,031

Total

$

7,372

$

348

$

7,720

$

154

$

7,874
Summary of Recorded Investment by Internal Risk Rating Systems Based on the most recent analysis performed, the following table presents the recorded investment in non-homogenous pools by internal risk rating systems (in thousands):

 

Revolving

Revolving

Term Loans Amortized Costs Basis by Origination Year

Loans

Loans

Amortized

Converted

March 31, 2025

2025

2024

2023

2022

2021

Prior

Cost Basis

to Term

Total

Commercial real estate

Risk Rating

Pass

$

25,605

$

101,428

$

73,057

$

120,459

$

103,005

$

272,174

$

21,321

$

-

$

717,049

Special Mention

-

4

-

259

183

2,075

-

-

2,521

Substandard

-

135

-

-

2,438

8,613

400

-

11,586

Doubtful

-

-

-

-

-

-

-

-

-

Total

$

25,605

$

101,567

$

73,057

$

120,718

$

105,626

$

282,862

$

21,721

$

-

$

731,156

Commercial real estate

Current period gross charge-offs

$

-

$

-

$

-

$

-

$

-

$

49

$

-

$

-

$

49

Real Estate - Agriculture

Risk Rating

Pass

$

915

$

6,232

$

3,764

$

11,921

$

3,904

$

35,315

$

371

$

-

$

62,422

Special Mention

-

-

-

-

-

609

150

-

759

Substandard

-

-

-

-

-

-

32

-

32

Doubtful

-

-

-

-

-

-

-

-

-

Total

$

915

$

6,232

$

3,764

$

11,921

$

3,904

$

35,924

$

553

$

-

$

63,213

Real Estate - Agriculture

Current period gross charge-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Commercial loans

Risk Rating

Pass

$

31,152

$

51,113

$

30,155

$

28,303

$

17,644

$

24,397

$

47,484

$

-

$

230,248

Special Mention

-

-

-

24

33

229

13

-

299

Substandard

-

-

271

411

658

742

850

-

2,932

Doubtful

-

-

-

-

-

-

-

-

-

Total

$

31,152

$

51,113

$

30,426

$

28,738

$

18,335

$

25,368

$

48,347

$

-

$

233,479

Commercial loans

Current period gross charge-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Other agricultural loans

Risk Rating

Pass

$

227

$

3,645

$

1,672

$

3,488

$

2,235

$

6,041

$

8,737

$

-

$

26,045

Special Mention

-

-

-

-

-

120

-

-

120

Substandard

-

-

-

-

-

-

1,472

-

1,472

Doubtful

-

-

-

-

-

-

-

-

-

Total

$

227

$

3,645

$

1,672

$

3,488

$

2,235

$

6,161

$

10,209

$

-

$

27,637

Other agricultural loans

Current period gross charge-offs

$

-

$

-

$

-

$

-

$

-

$

38

$

-

$

-

$

38

Total

Risk Rating

Pass

$

57,899

$

162,418

$

108,648

$

164,171

$

126,788

$

337,927

$

77,913

$

-

$

1,035,764

Special Mention

-

4

-

283

216

3,033

163

-

3,699

Substandard

-

135

271

411

3,096

9,355

2,754

-

16,022

Doubtful

-

-

-

-

-

-

-

-

-

Total

$

57,899

$

162,557

$

108,919

$

164,865

$

130,100

$

350,315

$

80,830

$

-

$

1,055,485


‎

Revolving

Revolving

Term Loans Amortized Costs Basis by Origination Year

Loans

Loans

Amortized

Converted

December 31, 2024

2024

2023

2022

2021

2020

Prior

Cost Basis

to Term

Total

Commercial real estate

Risk Rating

Pass

$

102,773

$

74,242

$

121,881

$

104,720

$

60,941

$

217,435

$

20,829

$

-

$

702,821

Special Mention

5

-

262

-

-

2,148

-

-

2,415

Substandard

135

-

-

2,461

1,405

7,238

400

-

11,639

Doubtful

-

-

-

-

-

-

-

-

-

Total

$

102,913

$

74,242

$

122,143

$

107,181

$

62,346

$

226,821

$

21,229

$

-

$

716,875

Commercial real estate

Current period gross charge-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Real Estate - Agriculture

Risk Rating

Pass

$

6,257

$

3,756

$

12,036

$

3,960

$

7,148

$

29,038

$

336

$

-

$

62,531

Special Mention

-

-

-

-

-

773

150

-

923

Substandard

-

-

-

-

-

-

34

-

34

Doubtful

-

-

-

-

-

-

-

-

-

Total

$

6,257

$

3,756

$

12,036

$

3,960

$

7,148

$

29,811

$

520

$

-

$

63,488

Real Estate - Agriculture

Current period gross charge-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Commercial loans

Risk Rating

Pass

$

57,939

$

34,088

$

29,465

$

19,163

$

10,233

$

15,042

$

42,906

$

-

$

208,836

Special Mention

-

-

25

-

-

106

14

-

145

Substandard

-

277

429

711

-

743

850

-

3,010

Doubtful

-

-

-

-

-

-

-

-

-

Total

$

57,939

$

34,365

$

29,919

$

19,874

$

10,233

$

15,891

$

43,770

$

-

$

211,991

Commercial loans

Current period gross charge-offs

$

-

$

11

$

-

$

-

$

8

$

51

$

30

$

-

$

100

Other agricultural loans

Risk Rating

Pass

$

4,358

$

1,836

$

3,721

$

2,379

$

2,134

$

4,353

$

9,697

$

-

$

28,478

Special Mention

-

-

-

-

-

127

-

-

127

Substandard

-

-

-

-

-

-

1,472

-

1,472

Doubtful

-

-

-

-

-

-

-

-

-

Total

$

4,358

$

1,836

$

3,721

$

2,379

$

2,134

$

4,480

$

11,169

$

-

$

30,077

Other agricultural loans

Current period gross charge-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Total

Risk Rating

Pass

$

171,327

$

113,922

$

167,103

$

130,222

$

80,456

$

265,868

$

73,768

$

-

$

1,002,666

Special Mention

5

-

287

-

-

3,154

164

-

3,610

Substandard

135

277

429

3,172

1,405

7,981

2,756

-

16,155

Doubtful

-

-

-

-

-

-

-

-

-

Total

$

171,467

$

114,199

$

167,819

$

133,394

$

81,861

$

277,003

$

76,688

$

-

$

1,022,431
Summary of Recorded Investment in Loan Classes Based on Payment Activity

Revolving

Revolving

Term Loans Amortized Costs Basis by Origination Year

Loans

Loans

Amortized

Converted

March 31, 2025

2025

2024

2023

2022

2021

Prior

Cost Basis

to Term

Total

Residential real estate

Payment Performance

Performing

$

3,405

$

26,247

$

41,090

$

58,207

$

51,735

$

118,458

$

30,308

$

-

$

329,450

Nonperforming

-

-

125

52

180

443

38

-

838

Total

$

3,405

$

26,247

$

41,215

$

58,259

$

51,915

$

118,901

$

30,346

$

-

$

330,288

Residential real estate

Current period gross charge-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Construction

Payment Performance

Performing

$

1,853

$

33,626

$

11,210

$

9,040

$

348

$

131

$

2,007

$

-

$

58,215

Nonperforming

-

-

-

-

11

-

-

-

11

Total

$

1,853

$

33,626

$

11,210

$

9,040

$

359

$

131

$

2,007

$

-

$

58,226

Construction

Current period gross charge-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Consumer loans to individuals

Payment Performance

Performing

$

39,642

$

121,194

$

85,983

$

47,727

$

14,006

$

17,133

$

798

$

-

$

326,483

Nonperforming

-

115

442

409

144

90

-

-

1,200

Total

$

39,642

$

121,309

$

86,425

$

48,136

$

14,150

$

17,223

$

798

$

-

$

327,683

Consumer loans to individuals

Current period gross charge-offs

$

-

$

69

$

79

$

87

$

8

$

86

$

-

$

-

$

329

Total

Payment Performance

Performing

$

44,900

$

181,067

$

138,283

$

114,974

$

66,089

$

135,722

$

33,113

$

-

$

714,148

Nonperforming

-

115

567

461

335

533

38

-

2,049

Total

$

44,900

$

181,182

$

138,850

$

115,435

$

66,424

$

136,255

$

33,151

$

-

$

716,197

Revolving

Revolving

Term Loans Amortized Costs Basis by Origination Year

Loans

Loans

Amortized

Converted

December 31, 2024

2024

2023

2022

2021

2020

Prior

Cost Basis

to Term

Total

Residential real estate

Payment Performance

Performing

$

22,842

$

41,384

$

60,194

$

52,712

$

32,161

$

89,965

$

30,658

$

-

$

329,916

Nonperforming

-

125

52

184

-

560

19

-

940

Total

$

22,842

$

41,509

$

60,246

$

52,896

$

32,161

$

90,525

$

30,677

$

-

$

330,856

Residential real estate

Current period gross charge-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Construction

Payment Performance

Performing

$

28,817

$

12,986

$

9,024

$

431

$

-

$

144

$

1,618

$

-

$

53,020

Nonperforming

-

-

-

-

-

-

-

-

-

Total

$

28,817

$

12,986

$

9,024

$

431

$

-

$

144

$

1,618

$

-

$

53,020

Construction

Current period gross charge-offs

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Consumer loans to individuals

Payment Performance

Performing

$

125,254

$

93,392

$

52,009

$

15,679

$

8,316

$

11,207

$

887

$

-

$

306,744

Nonperforming

97

401

377

114

26

16

-

-

1,031

Total

$

125,351

$

93,793

$

52,386

$

15,793

$

8,342

$

11,223

$

887

$

-

$

307,775

Consumer loans to individuals

Current period gross charge-offs

$

123

$

511

$

850

$

203

$

87

$

75

$

-

$

-

$

1,849

Total

Payment Performance

Performing

$

176,913

$

147,762

$

121,227

$

68,822

$

40,477

$

101,316

$

33,163

$

-

$

689,680

Nonperforming

97

526

429

298

26

576

19

-

1,971

Total

$

177,010

$

148,288

$

121,656

$

69,120

$

40,503

$

101,892

$

33,182

$

-

$

691,651
Loan Modifications Made to Borrowers

Significant Payment Delay

Amortized Cost Basis at March 31, 2025

% of Total Class of Financing Receivable

Financial Effect

(in thousands)

Consumer loans to individuals

$

7

0.00

%

Deferred principal for 4 months

Total

$

7

Term Extension

Amortized Cost Basis at March 31, 2025

% of Total Class of Financing Receivable

Financial Effect

(in thousands)

Commercial real estate loans

$

1,475

0.00

%

Added a weighted-average 6.0 months to the life of loans

Commercial loans

298

0.00

Added a weighted-average 5.0 years to the life of loans

Total

$

1,773

Combination -Significant Payment Delay and Term Extension

Amortized Cost Basis at March 31, 2025

% of Total Class of Financing Receivable

Financial Effect

Commercial real estate loans

$

3,779

0.01

%

Deferred principal for 9 months and extended term by 9 months

Total

$

3,779

Of the modifications made to borrowers experiencing financial difficulty, there were none that had a payment default during the period.
Summary of Loan Concentrations by Industry

Account Type

Outstanding as of March 31, 2025

Percent of Loans as of March 31, 2025

Commercial Rentals

$

162,498

9.21

%

Residential Rentals

117,528

6.66

Hotels/Motels

107,206

6.08

Builders/Contractors

38,627

2.19

Dairy Cattle/Milk Product

43,993

2.49

Fuel/Gas Stations

49,366

2.80

Government Support

25,898

1.47

Mobile Home Park

22,296

1.26

Wineries

23,313

1.32

Camps

23,943

1.36

Resorts

34,512

1.96