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Loans and Allowance for Loan Losses (Tables)
 6 Months Ended
Jun. 30, 2017
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable

Loans consisted of the following as of the dates indicated below:

 

    June 30,     December 31,  
(Dollars in thousands)   2017     2016  
             
One-to-four family residential real estate   $ 138,932     $ 136,846  
Construction and land     16,557       13,738  
Commercial real estate     116,600       118,200  
Commercial     51,631       54,506  
Agriculture     79,310       78,324  
Municipal     3,593       3,884  
Consumer     21,403       20,271  
Total gross loans     428,026       425,769  
Net deferred loan costs and loans in process     39       36  
Allowance for loan losses     (5,326 )     (5,344 )
Loans, net   $ 422,739     $ 420,461  
Schedule of Allowance for Credit Losses On Financing Receivables

The following tables provide information on the Company’s activity in the allowance for loan losses by loan class:

 

(Dollars in thousands)   Three and six months ended June 30, 2017  
    One-to-four family residential real estate     Construction and land     Commercial real estate     Commercial     Agriculture     Municipal     Consumer     Total  
                                                 
Allowance for loan losses:                                                                
Balance at April 1, 2017   $ 493     $ 71     $ 1,740     $ 1,101     $ 1,731     $ 11     $ 180     $ 5,327  
Charge-offs     -       -       (61 )     -       -       -       (58 )     (119 )
Recoveries     7       -       -       1       -       -       10       18  
Provision for loan losses     (1 )     (1 )     30       (21 )     41       (1 )     53       100  
Balance at June 30, 2017     499       70       1,709       1,081       1,772       10       185       5,326  
                                                                 
Balance at January 1, 2017   $ 504     $ 53     $ 1,777     $ 1,119     $ 1,684     $ 12     $ 195     $ 5,344  
Charge-offs     (19 )     -       (61 )     -       -       -       (165 )     (245 )
Recoveries     8       -       -       9       1       -       59       77  
Provision for loan losses     6       17       (7 )     (47 )     87       (2 )     96       150  
Balance at June 30, 2017     499       70       1,709       1,081       1,772       10       185       5,326  

 

(Dollars in thousands)   Three and six months ended June 30, 2016  
    One-to-four family residential real estate     Construction and land     Commercial real estate     Commercial     Agriculture     Municipal     Consumer     Total  
                                                 
Allowance for loan losses:                                                                
Balance at April 1, 2016   $ 864     $ 82     $ 1,831     $ 1,384     $ 1,483     $ 24     $ 201     $ 5,869  
Charge-offs     -       -       -       (306 )     (83 )     -       (148 )     (537 )
Recoveries     3       -       -       1       -       6       10       20  
Provision for loan losses     (283 )     7       (55 )     314       200       (7 )     124       300  
Balance at June 30, 2016     584       89       1,776       1,393       1,600       23       187       5,652  
                                                                 
Balance at January 1, 2016   $ 925     $ 77     $ 1,740     $ 1,530     $ 1,428     $ 23     $ 199     $ 5,922  
Charge-offs     -       -       -       (306 )     (83 )     -       (285 )     (674 )
Recoveries     5       -       -       20       -       6       23       54  
Provision for loan losses     (346 )     12       36       149       255       (6 )     250       350  
Balance at June 30, 2016     584       89       1,776       1,393       1,600       23       187       5,652  

 

The following tables provide information on the Company’s activity in the allowance for loan losses by loan class and allowance methodology:

 

(Dollars in thousands)   As of June 30, 2017  
    One-to-four family residential real estate     Construction and land     Commercial real estate     Commercial     Agriculture     Municipal     Consumer     Total  
                                                 
Allowance for loan losses:                                                                
Individually evaluated for loss     -       -       50       76       149       -       -       275  
Collectively evaluated for loss     499       70       1,659       1,005       1,623       10       185       5,051  
Total     499       70       1,709       1,081       1,772       10       185       5,326  
                                                                 
Loan balances:                                                                
Individually evaluated for loss     732       2,041       2,206       323       868       221       36       6,427  
Collectively evaluated for loss     138,200       14,516       114,394       51,308       78,442       3,372       21,367       421,599  
Total   $ 138,932     $ 16,557     $ 116,600     $ 51,631     $ 79,310     $ 3,593     $ 21,403     $ 428,026  

 

(Dollars in thousands)   As of December 31, 2016
    One-to-four family residential real estate     Construction and land     Commercial real estate     Commercial     Agriculture     Municipal     Consumer     Total  
                                                 
Allowance for loan losses:                                                                
Individually evaluated for loss     -       -       81       87       89       -       17       274  
Collectively evaluated for loss     504       53       1,696       1,032       1,595       12       178       5,070  
Total     504       53       1,777       1,119       1,684       12       195       5,344  
                                                                 
Loan balances:                                                                
Individually evaluated for loss     780       1,937       2,445       355       881       258       72       6,728  
Collectively evaluated for loss     136,066       11,801       115,755       54,151       77,443       3,626       20,199       419,041  
Total   $ 136,846     $ 13,738     $ 118,200     $ 54,506     $ 78,324     $ 3,884     $ 20,271     $ 425,769  
Schedule of Impaired Financing Receivables

The following tables present information on impaired loans:

 

(Dollars in thousands)   As of June 30, 2017  
    Unpaid contractual principal     Impaired loan balance     Impaired loans without an allowance     Impaired loans with an allowance     Related allowance recorded     Year-to-date average loan balance     Year-to-date interest income recognized  
                                           
One-to-four family residential real estate   $ 732     $ 732     $ 732     $ -     $ -     $ 739     $ 4  
Construction and land     3,776       2,041       2,041       -       -       2,010       33  
Commercial real estate     2,206       2,206       2,156       50       50       2,217       246  
Commercial     323       323       70       253       76       361       -  
Agriculture     1,083       868       49       819       149       933       1  
Municipal     221       221       221       -       -       236       3  
Consumer     36       36       36       -       -       39       -  
Total impaired loans   $ 8,377     $ 6,427     $ 5,305     $ 1,122     $ 275     $ 6,535     $ 287  

 

(Dollars in thousands)   As of December 31, 2016  
    Unpaid contractual principal     Impaired loan balance     Impaired loans without an allowance     Impaired loans with an allowance     Related allowance recorded     Year-to-date average loan balance     Year-to-date interest income recognized  
                                           
One-to-four family residential real estate   $ 780     $ 780     $ 780     $ -     $ -     $ 798     $ 7  
Construction and land     3,672       1,937       1,937       -       -       2,068       72  
Commercial real estate     2,445       2,445       2,145       300       81       2,587       505  
Commercial     355       355       46       309       87       425       2  
Agriculture     1,173       881       147       734       89       1,000       2  
Municipal     258       258       258       -       -       418       -  
Consumer     72       72       55       17       17       78       13  
Total impaired loans   $ 8,755     $ 6,728     $ 5,368     $ 1,360     $ 274     $ 7,374     $ 601  
Schedule of Past Due Financing Receivables

The following tables present information on the Company’s past due and non-accrual loans by loan class:

 

(Dollars in thousands)   As of June 30, 2017  
    30-59 days delinquent and accruing     60-89 days delinquent and accruing     90 days or more delinquent and accruing     Total past due loans accruing     Non-accrual loans     Total past due and non-accrual loans     Total loans not past due  
                                           
One-to-four family residential real estate   $ 300     $ 316     $ -     $ 616     $ 557     $ 1,173     $ 137,759  
Construction and land     -       -       -       -       692       692       15,865  
Commercial real estate     1,971       42       -       2,013       69       2,082       114,518  
Commercial     176       1,315       -       1,491       323       1,814       49,817  
Agriculture     49       60       -       109       868       977       78,333  
Municipal     -       -       -       -       -       -       3,593  
Consumer     36       17       -       53       36       89       21,314  
 Total   $ 2,532     $ 1,750     $ -     $ 4,282     $ 2,545     $ 6,827     $ 421,199  
                                                         
Percent of gross loans     0.59 %     0.41 %     0.00 %     1.00 %     0.59 %     1.59 %     98.41 %

 

(Dollars in thousands)   As of December 31, 2016  
    30-59 days delinquent and accruing     60-89 days delinquent and accruing     90 days or more delinquent and accruing     Total past due loans accruing     Non-accrual loans     Total past due and non-accrual loans     Total loans not past due  
                                           
One-to-four family residential real estate   $ 215     $ 388     $ -     $ 603     $ 595     $ 1,198     $ 135,648  
Construction and land     -       -       -       -       599       599       13,139  
Commercial real estate     -       -       -       -       300       300       117,900  
Commercial     13       5       -       18       342       360       54,146  
Agriculture     55       -       -       55       838       893       77,431  
Municipal     -       -       -       -       -       -       3,884  
Consumer     79       3       -       82       72       154       20,117  
 Total   $ 362     $ 396     $ -     $ 758     $ 2,746     $ 3,504     $ 422,265  
                                                         
Percent of gross loans     0.09 %     0.09 %     0.00 %     0.18 %     0.64 %     0.82 %     99.18 %
Schedule of Risk Categories by Loan Class

The following table provides information on the Company’s risk categories by loan class:

 

(Dollars in thousands)   As of June 30, 2017     As of December 31, 2016  
    Nonclassified     Classified     Nonclassified     Classified  
                         
One-to-four family residential real estate   $ 137,803     $ 1,129     $ 135,640     $ 1,206  
Construction and land     15,865       692       13,138       600  
Commercial real estate     110,725       5,875       111,641       6,559  
Commercial     48,115       3,516       51,080       3,426  
Agriculture     74,727       4,583       73,564       4,760  
Municipal     3,593       -       3,884       -  
Consumer     21,356       47       20,181       90  
Total   $ 412,184     $ 15,842     $ 409,128     $ 16,641  
Schedule of Troubled Debt Restructurings On Financing Receivables

The following table presents information on loans that are classified as TDRs:

 

(Dollars in thousands)   As of June 30, 2017     As of December 31, 2016  
    Number of loans     Non-accrual balance     Accruing balance     Number of loans     Non-accrual balance     Accruing balance  
                                     
One-to-four family residential real estate     2     $ -     $ 175       2     $ -     $ 185  
Construction and land     4       581       1,349       4       588       1,338  
Commercial real estate     4       61       2,137       3       64       2,145  
Commercial     -       -       -       2       -       13  
Agriculture     7       409       -       4       268       44  
Municipal     2       -       221       2       -       258  
Total troubled debt restructurings     19     $ 1,051     $ 3,882       17     $ 920     $ 3,983