All loans deemed a troubled debt restructuring (“TDR"), are considered impaired, and are evaluated for collateral and cash-flow sufficiency. A loan is considered a TDR when the Company, for economic or legal reasons related to a borrower’s financial difficulties, grants a concession to the borrower that the Company would not otherwise consider. All of the following factors are indicators that the Company has granted a concession (one or multiple items may be present):

There were 21 TDR loans totaling $3.4 million at June 30, 2022. At December 31, 2021, there were 17 TDR loans totaling $2.7 million. Two TDR loans, totaling $141 thousand, were in nonaccrual status at June 30, 2022. Two TDR loans, totaling $149 thousand, were in nonaccrual status at December 31, 2021. There were no outstanding commitments to lend additional amounts to troubled debt restructured borrowers at June 30, 2022 or December 31, 2021.

The following table sets forth information on the Company’s troubled debt restructurings by class of loans occurring during the three and six months ended June 30, 2022 and 2021. During the three and six months ended June 30, 2022, the Company classified 5 additional loans as troubled debt restructurings.

	Three Months Ended
	June 30, 2022
	(in thousands)
	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Commercial Real Estate:
Owner Occupied		1	$	185	$	185
Construction and Farmland:
Residential		1		639		639
Residential:
Single family		3		539		557
Total		5	$	1,363	$	1,381

	Three Months Ended
	June 30, 2021
	(in thousands)
	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Consumer:
Installment		1	$	4	$	4
Total		1	$	4		4

	Six Months Ended
	June 30, 2022
	(in thousands)
	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Commercial Real Estate:
Owner Occupied		1	$	185	$	185
Construction and Farmland:
Residential		1		639		639
Residential:
Single family		3		539		557
Total		5	$	1,363	$	1,381

	Six Months Ended
	June 30, 2021
	(in thousands)
	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Consumer:
Installment		2	$	15	$	15
Residential:
Single family		1		98		98
Total		3	$	113	$	113

During the three and six months ended June 30, 2022, the Company restructured five loans by granting concessions to the borrowers experiencing financial difficulty. Three loans were restructured renewing the loan for a twelve-month period. One loan was restructured by extending the loan for three months. One loan was restructured by refinancing the loan to extend the term.

During the three and six months ended June 30, 2021, the Company restructured one and three loans, respectively, by granting
a concession to borrowers experiencing financial difficulty. These loans were restructured by reducing the loan payments and
extending the term.

There were no payment defaults during the three and six months ended June 30, 2022 for TDRs that were restructured within the preceding twelve-month period. There were also no payment defaults during the three and six months ended June 30, 2021.

Management defines default as over 30 days contractually past due under the modified terms, the foreclosure and/or repossession of the collateral, or the charge-off of the loan during the twelve-month period subsequent to the modification.