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Note 8 - Loans Receivable and Credit Disclosures | 3 Months Ended
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Mar. 31, 2020
Notes to Financial Statements |
Financing Receivables [Text Block] |
8. | Loans Receivable and Credit Disclosures
The composition of loans receivable as of March 31, 2020 and December 31, 2019 is as follows ( in t housands ):
|  | 2020 |  |  | 2019 |
Real estate - construction |  | $ | 49,768 |  |  | $ | 47,895 |
Real estate - 1 to 4 family residential |  |  | 204,791 |  |  |  | 201,510 |
Real estate - commercial |  |  | 461,505 |  |  |  | 435,850 |
Real estate - agricultural |  |  | 161,984 |  |  |  | 160,771 |
Commercial |  |  | 85,743 |  |  |  | 84,084 |
Agricultural |  |  | 112,406 |  |  |  | 111,945 |
Consumer and other |  |  | 18,454 |  |  |  | 18,791 |
|  |  | 1,094,651 |  |  |  | 1,060,846 |
Less: |  |  |  |  |  |  |  |
Allowance for loan losses |  |  | (14,909 | ) |  |  | (12,619 | )
Deferred loan fees |  |  | (85 | ) |  |  | (80 | )
Loans receivable, net |  | $ | 1,079,657 |  |  | $ | 1,048,147 |
Activity in the allowance for loan losses, on a disaggregated basis, for the three months ended March 31, 2020 and 2019 is as follows: (in thousands)
|  | Three Months Ended March 31, 2020 |
|  |  |  |  |  | 1-4 Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Construction |  |  | Residential |  |  | Commercial |  |  | Agricultural |  |  |  |  |  |  |  |  |  |  | Consumer |  |  |  |  |
|  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Commercial |  |  | Agricultural |  |  | and Other |  |  | Total |
Balance, December 31, 2019 |  | $ | 672 |  |  | $ | 2,122 |  |  | $ | 5,362 |  |  | $ | 1,326 |  |  | $ | 1,458 |  |  | $ | 1,478 |  |  | $ | 201 |  |  | $ | 12,619 |
Provision (credit) for loan losses |  |  | 80 |  |  |  | 214 |  |  |  | 1,220 |  |  |  | 237 |  |  |  | 212 |  |  |  | 337 |  |  |  | 16 |  |  |  | 2,316 |
Recoveries of loans charged-off |  |  | 1 |  |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | 3 |  |  |  | 7 |
Loans charged-off |  |  | - |  |  |  | - |  |  |  | (31 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2 | ) |  |  | (33 | )
Balance, March 31, 2020 |  | $ | 753 |  |  | $ | 2,336 |  |  | $ | 6,552 |  |  | $ | 1,563 |  |  | $ | 1,672 |  |  | $ | 1,815 |  |  | $ | 218 |  |  | $ | 14,909 |
|  | Three Months Ended March 31, 2019 |
|  |  |  |  |  | 1-4 Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Construction |  |  | Residential |  |  | Commercial |  |  | Agricultural |  |  |  |  |  |  |  |  |  |  | Consumer |  |  |  |  |
|  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Commercial |  |  | Agricultural |  |  | and Other |  |  | Total |
Balance, December 31, 2018 |  | $ | 699 |  |  | $ | 1,820 |  |  | $ | 4,615 |  |  | $ | 1,198 |  |  | $ | 1,777 |  |  | $ | 1,384 |  |  | $ | 191 |  |  | $ | 11,684 |
Provision (credit) for loan losses |  |  | 26 |  |  |  | 28 |  |  |  | 155 |  |  |  | 60 |  |  |  | (190 | ) |  |  | 8 |  |  |  | 11 |  |  |  | 98 |
Recoveries of loans charged-off |  |  | 11 |  |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | 28 |  |  |  | - |  |  |  | - |  |  |  | 41 |
Loans charged-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (5 | ) |  |  | - |  |  |  | (6 | ) |  |  | (11 | )
Balance, March 31, 2019 |  | $ | 736 |  |  | $ | 1,850 |  |  | $ | 4,770 |  |  | $ | 1,258 |  |  | $ | 1,610 |  |  | $ | 1,392 |  |  | $ | 196 |  |  | $ | 11,812 |
Allowance for loan losses disaggregated on the basis of impairment analysis method as of March 31, 2020 and December 31, 2019 is as follows: (in thousands )
2020 |  |  |  |  |  | 1-4 Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Construction |  |  | Residential |  |  | Commercial |  |  | Agricultural |  |  |  |  |  |  |  |  |  |  | Consumer |  |  |  |  |
|  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Commercial |  |  | Agricultural |  |  | and Other |  |  | Total |
Individually evaluated for impairment |  | $ | - |  |  | $ | 213 |  |  | $ | 435 |  |  | $ | - |  |  | $ | 28 |  |  | $ | 45 |  |  | $ | - |  |  | $ | 721 |
Collectively evaluated for impairment |  |  | 753 |  |  |  | 2,123 |  |  |  | 6,117 |  |  |  | 1,563 |  |  |  | 1,644 |  |  |  | 1,770 |  |  |  | 218 |  |  |  | 14,188 |
Balance March 31, 2020 |  | $ | 753 |  |  | $ | 2,336 |  |  | $ | 6,552 |  |  | $ | 1,563 |  |  | $ | 1,672 |  |  | $ | 1,815 |  |  | $ | 218 |  |  | $ | 14,909 |
2019 |  |  |  |  |  | 1-4 Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Construction |  |  | Residential |  |  | Commercial |  |  | Agricultural |  |  |  |  |  |  |  |  |  |  | Consumer |  |  |  |  |
|  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Commercial |  |  | Agricultural |  |  | and Other |  |  | Total |
Individually evaluated for impairment |  | $ | - |  |  | $ | 209 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 209 |
Collectively evaluated for impairment |  |  | 672 |  |  |  | 1,913 |  |  |  | 5,362 |  |  |  | 1,326 |  |  |  | 1,458 |  |  |  | 1,478 |  |  |  | 201 |  |  |  | 12,410 |
Balance December 31, 2019 |  | $ | 672 |  |  | $ | 2,122 |  |  | $ | 5,362 |  |  | $ | 1,326 |  |  | $ | 1,458 |  |  | $ | 1,478 |  |  | $ | 201 |  |  | $ | 12,619 |
Loans receivable disaggregated on the basis of impairment analysis method as of March 31, 2020 and December 31, 2019 is as follows (in thousands) :
2020 |  |  |  |  |  | 1-4 Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Construction |  |  | Residential |  |  | Commercial |  |  | Agricultural |  |  |  |  |  |  |  |  |  |  | Consumer |  |  |  |  |
|  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Commercial |  |  | Agricultural |  |  | and Other |  |  | Total |
Individually evaluated for impairment |  | $ | - |  |  | $ | 1,198 |  |  | $ | 11,594 |  |  | $ | 794 |  |  | $ | 580 |  |  | $ | 3,462 |  |  | $ | 84 |  |  | $ | 17,712 |
Collectively evaluated for impairment |  |  | 49,768 |  |  |  | 203,593 |  |  |  | 449,911 |  |  |  | 161,190 |  |  |  | 85,163 |  |  |  | 108,944 |  |  |  | 18,370 |  |  |  | 1,076,939 |
Balance March 31, 2020 |  | $ | 49,768 |  |  | $ | 204,791 |  |  | $ | 461,505 |  |  | $ | 161,984 |  |  | $ | 85,743 |  |  | $ | 112,406 |  |  | $ | 18,454 |  |  | $ | 1,094,651 |
2019 |  |  |  |  |  | 1-4 Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Construction |  |  | Residential |  |  | Commercial |  |  | Agricultural |  |  |  |  |  |  |  |  |  |  | Consumer |  |  |  |  |
|  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Commercial |  |  | Agricultural |  |  | and Other |  |  | Total |
Individually evaluated for impairment |  | $ | - |  |  | $ | 1,204 |  |  | $ | 83 |  |  | $ | 84 |  |  | $ | 462 |  |  | $ | 2,951 |  |  | $ | 4 |  |  | $ | 4,788 |
Collectively evaluated for impairment |  |  | 47,895 |  |  |  | 200,306 |  |  |  | 435,767 |  |  |  | 160,687 |  |  |  | 83,622 |  |  |  | 108,994 |  |  |  | 18,787 |  |  |  | 1,056,058 |
Balance December 31, 2019 |  | $ | 47,895 |  |  | $ | 201,510 |  |  | $ | 435,850 |  |  | $ | 160,771 |  |  | $ | 84,084 |  |  | $ | 111,945 |  |  | $ | 18,791 |  |  | $ | 1,060,846 |
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payment of principal and interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. The Company will apply its normal loan review procedures to identify loans that should be evaluated for impairment. Impaired loans, on a disaggregated basis, as of March 31, 2020 and December 31, 2019: (in thousands)
|  | 2020 |  |  | 2019 |
|  |  |  |  |  | Unpaid |  |  |  |  |  |  |  |  |  |  | Unpaid |  |  |  |  |
|  | Recorded |  |  | Principal |  |  | Related |  |  | Recorded |  |  | Principal |  |  | Related |
|  | Investment |  |  | Balance |  |  | Allowance |  |  | Investment |  |  | Balance |  |  | Allowance |
With no specific reserve recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate - construction |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Real estate - 1 to 4 family residential |  |  | 104 |  |  |  | 139 |  |  |  | - |  |  |  | 460 |  |  |  | 796 |  |  |  | - |
Real estate - commercial |  |  | 10,618 |  |  |  | 10,956 |  |  |  | - |  |  |  | 83 |  |  |  | 435 |  |  |  | - |
Real estate - agricultural |  |  | 794 |  |  |  | 808 |  |  |  | - |  |  |  | 84 |  |  |  | 97 |  |  |  | - |
Commercial |  |  | 412 |  |  |  | 459 |  |  |  | - |  |  |  | 462 |  |  |  | 517 |  |  |  | - |
Agricultural |  |  | 3,006 |  |  |  | 3,160 |  |  |  | - |  |  |  | 2,951 |  |  |  | 3,071 |  |  |  | - |
Consumer and other |  |  | 84 |  |  |  | 84 |  |  |  | - |  |  |  | 4 |  |  |  | 4 |  |  |  | - |
Total loans with no specific reserve: |  |  | 15,018 |  |  |  | 15,606 |  |  |  | - |  |  |  | 4,044 |  |  |  | 4,920 |  |  |  | - |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate - construction |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Real estate - 1 to 4 family residential |  |  | 1,094 |  |  |  | 1,425 |  |  |  | 213 |  |  |  | 744 |  |  |  | 755 |  |  |  | 209 |
Real estate - commercial |  |  | 976 |  |  |  | 976 |  |  |  | 435 |  |  |  | - |  |  |  | - |  |  |  | - |
Real estate - agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial |  |  | 168 |  |  |  | 168 |  |  |  | 28 |  |  |  | - |  |  |  | - |  |  |  | - |
Agricultural |  |  | 456 |  |  |  | 456 |  |  |  | 45 |  |  |  | - |  |  |  | - |  |  |  | - |
Consumer and other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total loans with specific reserve: |  |  | 2,694 |  |  |  | 3,025 |  |  |  | 721 |  |  |  | 744 |  |  |  | 755 |  |  |  | 209 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate - construction |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Real estate - 1 to 4 family residential |  |  | 1,198 |  |  |  | 1,564 |  |  |  | 213 |  |  |  | 1,204 |  |  |  | 1,551 |  |  |  | 209 |
Real estate - commercial |  |  | 11,594 |  |  |  | 11,932 |  |  |  | 435 |  |  |  | 83 |  |  |  | 435 |  |  |  | - |
Real estate - agricultural |  |  | 794 |  |  |  | 808 |  |  |  | - |  |  |  | 84 |  |  |  | 97 |  |  |  | - |
Commercial |  |  | 580 |  |  |  | 627 |  |  |  | 28 |  |  |  | 462 |  |  |  | 517 |  |  |  | - |
Agricultural |  |  | 3,462 |  |  |  | 3,616 |  |  |  | 45 |  |  |  | 2,951 |  |  |  | 3,071 |  |  |  | - |
Consumer and other |  |  | 84 |  |  |  | 84 |  |  |  | - |  |  |  | 4 |  |  |  | 4 |  |  |  | - |
|  | $ | 17,712 |  |  | $ | 18,631 |  |  | $ | 721 |  |  | $ | 4,788 |  |  | $ | 5,675 |  |  | $ | 209 |
Average recorded investment and interest income recognized on impaired loans for the three months ended March 31, 2020 and 2019: (in thousands)
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
|  | Average |  |  | Interest |  |  | Average |  |  | Interest |
|  | Recorded |  |  | Income |  |  | Recorded |  |  | Income |
|  | Investment |  |  | Recognized |  |  | Investment |  |  | Recognized |
With no specific reserve recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate - construction |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Real estate - 1 to 4 family residential |  |  | 283 |  |  |  | - |  |  |  | 247 |  |  |  | 20 |
Real estate - commercial |  |  | 5,351 |  |  |  | - |  |  |  | 131 |  |  |  | 31 |
Real estate - agricultural |  |  | 439 |  |  |  | 6 |  |  |  | 73 |  |  |  | - |
Commercial |  |  | 437 |  |  |  | - |  |  |  | 243 |  |  |  | - |
Agricultural |  |  | 2,979 |  |  |  | - |  |  |  | - |  |  |  | - |
Consumer and other |  |  | 44 |  |  |  | - |  |  |  | 1 |  |  |  | - |
Total loans with no specific reserve: |  |  | 9,533 |  |  |  | 6 |  |  |  | 695 |  |  |  | 51 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate - construction |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Real estate - 1 to 4 family residential |  |  | 919 |  |  |  | - |  |  |  | 111 |  |  |  | - |
Real estate - commercial |  |  | 488 |  |  |  | - |  |  |  | - |  |  |  | - |
Real estate - agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial |  |  | 84 |  |  |  | - |  |  |  | 2,468 |  |  |  | - |
Agricultural |  |  | 228 |  |  |  | - |  |  |  | - |  |  |  | - |
Consumer and other |  |  | - |  |  |  | - |  |  |  | 16 |  |  |  | 1 |
Total loans with specific reserve: |  |  | 1,719 |  |  |  | - |  |  |  | 2,595 |  |  |  | 1 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate - construction |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Real estate - 1 to 4 family residential |  |  | 1,202 |  |  |  | - |  |  |  | 358 |  |  |  | 20 |
Real estate - commercial |  |  | 5,839 |  |  |  | - |  |  |  | 131 |  |  |  | 31 |
Real estate - agricultural |  |  | 439 |  |  |  | 6 |  |  |  | 73 |  |  |  | - |
Commercial |  |  | 521 |  |  |  | - |  |  |  | 2,711 |  |  |  | - |
Agricultural |  |  | 3,207 |  |  |  | - |  |  |  | - |  |  |  | - |
Consumer and other |  |  | 44 |  |  |  | - |  |  |  | 17 |  |  |  | 1 |
|  | $ | 11,252 |  |  | $ | 6 |  |  | $ | 3,290 |  |  | $ | 52 |
The interest foregone on nonaccrual loans for the three months ended March 31, 2020 and 2019 was approximately $189,000 and $58,000, respectively. Nonaccrual loans at March 31, 2020 and December 31, 2019 were $17,712,000 and $4,788,000 respectively. The Company had loans meeting the definition of a troubled debt restructuring (TDR) of $1,372,000 as of March 31, 2020, all of which were included in impaired and nonaccrual loans. The Company had TDRs of $1,171,000 as of December 31, 2019, all of which were included in impaired and nonaccrual loans. The Company’s TDR, on a disaggregated basis, occurring in the three months ended March 31, 2020 and 2019, is as follows: ( dollars in thousands )
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
|  |  |  |  |  | Pre-Modification |  |  | Post-Modification |  |  |  |  |  |  | Pre-Modification |  |  | Post-Modification |
|  |  |  |  |  | Outstanding |  |  | Outstanding |  |  |  |  |  |  | Outstanding |  |  | Outstanding |
|  | Number of |  |  | Recorded |  |  | Recorded |  |  | Number of |  |  | Recorded |  |  | Recorded |
|  | Contracts |  |  | Investment |  |  | Investment |  |  | Contracts |  |  | Investment |  |  | Investment |
Real estate - construction |  |  | - |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | - |  |  | $ | - |
Real estate - 1 to 4 family residential |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Real estate - commercial |  |  | 1 |  |  |  | 184 |  |  |  | 184 |  |  |  | - |  |  |  | - |  |  |  | - |
Real estate - agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial |  |  | 1 |  |  |  | 61 |  |  |  | 61 |  |  |  | - |  |  |  | - |  |  |  | - |
Agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Consumer and other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  |  | 2 |  |  | $ | 245 |  |  | $ | 245 |  |  |  | - |  |  | $ | - |  |  | $ | - |
During the three months ended March 31, 2020, the Company granted concessions to two related borrowers in the hospitality industry that are facing financial difficulties. One loan was secured by commercial real estate and the second loan was secured by a commercial operating note. Payments on these loans were deferred for six months and the interest rate was reduced below the market interest rate. During the three months ended March 31, 2019, the Company did not grant concessions to any borrowers. There were no TDR loans that were modified during the three months ended March 31, 2020 and twelve months ended March 31, 2019 that had payment defaults. The Company considers TDR loans to have payment default when it is past due 60 days or more. There were $16,000 of net charge-offs related to TDRs for the three months ended March 31, 2020 and no charge-offs related to TDRs for the three months ended March 31, 2019. No additional specific reserve was provided for the three months ended March 31, 2020 and March 31, 2019. An aging analysis of the recorded investments in loans, on a disaggregated basis, as of March 31, 2020 and December 31, 2019, is as follows: (in thousands)
2020 |  |  |  |  |  | 90 Days |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 90 Days |
|  | 30-89 |  |  | or Greater |  |  | Total |  |  |  |  |  |  |  |  |  |  | or Greater |
|  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Current |  |  | Total |  |  | Accruing |
Real estate - construction |  | $ | 410 |  |  | $ | - |  |  | $ | 410 |  |  | $ | 49,358 |  |  | $ | 49,768 |  |  | $ | - |
Real estate - 1 to 4 family residential |  |  | 1,009 |  |  |  | 280 |  |  |  | 1,289 |  |  |  | 203,502 |  |  |  | 204,791 |  |  |  | 122 |
Real estate - commercial |  |  | 83 |  |  |  | 183 |  |  |  | 266 |  |  |  | 461,239 |  |  |  | 461,505 |  |  |  | - |
Real estate - agricultural |  |  | 1,474 |  |  |  | 1,398 |  |  |  | 2,872 |  |  |  | 159,112 |  |  |  | 161,984 |  |  |  | 682 |
Commercial |  |  | 1,469 |  |  |  | 481 |  |  |  | 1,950 |  |  |  | 83,793 |  |  |  | 85,743 |  |  |  | - |
Agricultural |  |  | 1,545 |  |  |  | 3,098 |  |  |  | 4,643 |  |  |  | 107,763 |  |  |  | 112,406 |  |  |  | 30 |
Consumer and other |  |  | 58 |  |  |  | 23 |  |  |  | 81 |  |  |  | 18,373 |  |  |  | 18,454 |  |  |  | 4 |
|  | $ | 6,048 |  |  | $ | 5,463 |  |  | $ | 11,511 |  |  | $ | 1,083,140 |  |  | $ | 1,094,651 |  |  | $ | 838 |
2019 |  |  |  |  |  | 90 Days |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 90 Days |
|  | 30-89 |  |  | or Greater |  |  | Total |  |  |  |  |  |  |  |  |  |  | or Greater |
|  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Current |  |  | Total |  |  | Accruing |
Real estate - construction |  | $ | 1,796 |  |  | $ | - |  |  | $ | 1,796 |  |  | $ | 46,099 |  |  | $ | 47,895 |  |  | $ | - |
Real estate - 1 to 4 family residential |  |  | 811 |  |  |  | 290 |  |  |  | 1,101 |  |  |  | 200,409 |  |  |  | 201,510 |  |  |  | 188 |
Real estate - commercial |  |  | 387 |  |  |  | - |  |  |  | 387 |  |  |  | 435,463 |  |  |  | 435,850 |  |  |  | - |
Real estate - agricultural |  |  | 422 |  |  |  | - |  |  |  | 422 |  |  |  | 160,349 |  |  |  | 160,771 |  |  |  | - |
Commercial |  |  | 518 |  |  |  | 237 |  |  |  | 755 |  |  |  | 83,329 |  |  |  | 84,084 |  |  |  | - |
Agricultural |  |  | 666 |  |  |  | 2,587 |  |  |  | 3,253 |  |  |  | 108,692 |  |  |  | 111,945 |  |  |  | 62 |
Consumer and other |  |  | 146 |  |  |  | 6 |  |  |  | 152 |  |  |  | 18,639 |  |  |  | 18,791 |  |  |  | 5 |
|  | $ | 4,746 |  |  | $ | 3,120 |  |  | $ | 7,866 |  |  | $ | 1,052,980 |  |  | $ | 1,060,846 |  |  | $ | 255 |
The increase in the 90 days or greater loans from December 31, 2019 is primarily due to agricultural loans that are well secured as of March 31, 2020. The credit risk profile by internally assigned grade, on a disaggregated basis, as of March 31, 2020 and December 31, 2019 is as follows: (in thousands)
2020 |  | Construction |  |  | Commercial |  |  | Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Commercial |  |  | Agricultural |  |  | Total |
Pass |  | $ | 35,393 |  |  | $ | 364,413 |  |  | $ | 119,570 |  |  | $ | 63,373 |  |  | $ | 87,270 |  |  | $ | 670,019 |
Watch |  |  | 14,375 |  |  |  | 75,914 |  |  |  | 32,085 |  |  |  | 15,258 |  |  |  | 19,435 |  |  |  | 157,067 |
Special Mention |  |  | - |  |  |  | 5,015 |  |  |  | - |  |  |  | 1,567 |  |  |  | - |  |  |  | 6,582 |
Substandard |  |  | - |  |  |  | 4,569 |  |  |  | 9,535 |  |  |  | 4,965 |  |  |  | 2,239 |  |  |  | 21,308 |
Substandard-Impaired |  |  | - |  |  |  | 11,594 |  |  |  | 794 |  |  |  | 580 |  |  |  | 3,462 |  |  |  | 16,430 |
|  | $ | 49,768 |  |  | $ | 461,505 |  |  | $ | 161,984 |  |  | $ | 85,743 |  |  | $ | 112,406 |  |  | $ | 871,406 |
2019 |  | Construction |  |  | Commercial |  |  | Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Real Estate |  |  | Real Estate |  |  | Real Estate |  |  | Commercial |  |  | Agricultural |  |  | Total |
Pass |  | $ | 41,073 |  |  | $ | 387,274 |  |  | $ | 118,692 |  |  | $ | 62,655 |  |  | $ | 90,083 |  |  | $ | 699,777 |
Watch |  |  | 6,822 |  |  |  | 29,209 |  |  |  | 32,780 |  |  |  | 16,147 |  |  |  | 15,248 |  |  |  | 100,206 |
Special Mention |  |  | - |  |  |  | 4,581 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,581 |
Substandard |  |  | - |  |  |  | 14,703 |  |  |  | 9,215 |  |  |  | 4,820 |  |  |  | 3,663 |  |  |  | 32,401 |
Substandard-Impaired |  |  | - |  |  |  | 83 |  |  |  | 84 |  |  |  | 462 |  |  |  | 2,951 |  |  |  | 3,580 |
|  | $ | 47,895 |  |  | $ | 435,850 |  |  | $ | 160,771 |  |  | $ | 84,084 |  |  | $ | 111,945 |  |  | $ | 840,545 |
The credit risk profile based on payment activity, on a disaggregated basis, as of March 31, 2020 and December 31, 2019 is as follows:
2020 |  | 1-4 Family |  |  |  |  |  |  |  |  |
|  | Residential |  |  | Consumer |  |  |  |  |
|  | Real Estate |  |  | and Other |  |  | Total |
Performing |  | $ | 203,392 |  |  | $ | 18,430 |  |  | $ | 221,822 |
Non-performing |  |  | 1,399 |  |  |  | 24 |  |  |  | 1,423 |
|  | $ | 204,791 |  |  | $ | 18,454 |  |  | $ | 223,245 |
2019 |  | 1-4 Family |  |  |  |  |  |  |  |  |
|  | Residential |  |  | Consumer |  |  |  |  |
|  | Real Estate |  |  | and Other |  |  | Total |
Performing |  | $ | 200,117 |  |  | $ | 18,782 |  |  | $ | 218,899 |
Non-performing |  |  | 1,393 |  |  |  | 9 |  |  |  | 1,402 |
|  | $ | 201,510 |  |  | $ | 18,791 |  |  | $ | 220,301 |

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- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2196816 + Details
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