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Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2018

Receivables [Abstract]

Schedule of Loans

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

		June 30,				December 31,
(Dollars in thousands)		2018				2017
One-to-four family residential real estate		$	138,267			$	136,215
Construction and land			26,453				19,356
Commercial real estate			121,946				120,624
Commercial			66,531				54,591
Agriculture			87,901				83,008
Municipal			3,172				3,396
Consumer			22,867				22,046
Total gross loans			467,137				439,236
Net deferred loan costs and loans in process			94				(34	)
Allowance for loan losses			(5,835	)			(5,459	)
Loans, net		$	461,396			$	433,743

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, 2018
		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, 2018		$	477			$	121			$	1,562			$	1,484			$	1,867			$	7			$	126			$	5,644
Charge-offs			-				-				-				(29	)			-				-				(44	)			(73	)
Recoveries			1				-				-				1				-				-				12				14
Provision for loan losses			(39	)			(12	)			(96	)			237				138				-				22				250
Balance at June 30, 2018			439				109				1,466				1,693				2,005				7				116				5,835
Balance at January 1, 2018		$	542			$	181			$	1,540			$	1,226			$	1,812			$	8			$	150			$	5,459
Charge-offs			-				-				-				(29	)			-				-				(77	)			(106	)
Recoveries			2				-				1				2				-				2				25				32
Provision for loan losses			(105	)			(72	)			(75	)			494				193				(3	)			18				450
Balance at June 30, 2018			439				109				1,466				1,693				2,005				7				116				5,835

(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

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, 2018
		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			85				-				14				728				25				-				1				853
Collectively evaluated for loss			354				109				1,452				965				1,980				7				115				4,982
Total			439				109				1,466				1,693				2,005				7				116				5,835
Loan balances:
Individually evaluated for loss			651				1,641				3,920				2,032				602				126				46				9,018
Collectively evaluated for loss			137,616				24,812				118,026				64,499				87,299				3,046				22,821				458,119
Total		$	138,267			$	26,453			$	121,946			$	66,531			$	87,901			$	3,172			$	22,867			$	467,137

(Dollars in thousands)		As of December 31, 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			73				102				52				391				24				-				-				642
Collectively evaluated for loss			469				79				1,488				835				1,788				8				150				4,817
Total			542				181				1,540				1,226				1,812				8				150				5,459
Loan balances:
Individually evaluated for loss			747				2,031				3,973				2,002				833				140				34				9,760
Collectively evaluated for loss			135,468				17,325				116,651				52,589				82,175				3,256				22,012				429,476
Total		$	136,215			$	19,356			$	120,624			$	54,591			$	83,008			$	3,396			$	22,046			$	439,236

Schedule of Impaired Financing Receivables

The following tables present information on impaired loans:

(Dollars in thousands)		As of June 30, 2018
		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		$	651			$	651			$	395			$	256			$	85			$	661			$	5
Construction and land			3,376				1,641				1,641				-				-				1,736				29
Commercial real estate			3,920				3,920				2,127				1,793				14				3,926				243
Commercial			2,032				2,032				3				2,029				728				2,055				8
Agriculture			817				602				344				258				25				652				27
Municipal			126				126				126				-				-				132				1
Consumer			46				46				40				6				1				46				-
Total impaired loans		$	10,968			$	9,018			$	4,676			$	4,342			$	853			$	9,208			$	313

(Dollars in thousands)		As of December 31, 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		$	747			$	747			$	503			$	244			$	73			$	774			$	8
Construction and land			3,766				2,031				430				1,601				102				2,033				65
Commercial real estate			3,973				3,973				3,888				85				52				3,989				490
Commercial			2,002				2,002				11				1,991				391				2,082				-
Agriculture			1,048				833				545				288				24				912				1
Municipal			140				140				140				-				-				192				5
Consumer			34				34				34				-				-				35				-
Total impaired loans		$	11,710			$	9,760			$	5,551			$	4,209			$	642			$	10,017			$	569

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, 2018
		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		$	100			$	289			$	-			$	389			$	463			$	852			$	137,415
Construction and land			-				-				-				-				567				567				25,886
Commercial real estate			-				-				-				-				1,793				1,793				120,153
Commercial			48				711				-				759				2,032				2,791				63,740
Agriculture			127				176				-				303				384				687				87,214
Municipal			-				-				-				-				-				-				3,172
Consumer			36				43				-				79				46				125				22,742
Total		$	311			$	1,219			$	-			$	1,530			$	5,285			$	6,815			$	460,322
Percent of gross loans			0.07	%			0.26	%			0.00	%			0.33	%			1.13	%			1.46	%			98.54	%

(Dollars in thousands)		As of December 31, 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		$	101			$	313			$	-			$	414			$	552			$	966			$	135,249
Construction and land			-				4				-				4				779				783				18,573
Commercial real estate			22				209				-				231				1,841				2,072				118,552
Commercial			-				397				-				397				2,002				2,399				52,192
Agriculture			-				-				-				-				833				833				82,175
Municipal			-				-				-				-				-				-				3,396
Consumer			105				204				-				309				34				343				21,703
Total		$	228			$	1,127			$	-			$	1,355			$	6,041			$	7,396			$	431,840
Percent of gross loans			0.05	%			0.26	%			0.00	%			0.31	%			1.37	%			1.68	%			98.32	%

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, 2018								As of December 31, 2017
		Non-classified				Classified				Non-classified				Classified
One-to-four family residential real estate		$	137,325			$	942			$	135,475			$	740
Construction and land			25,886				567				18,577				779
Commercial real estate			111,697				10,249				114,736				5,888
Commercial			58,424				8,107				52,313				2,278
Agriculture			83,390				4,511				76,455				6,553
Municipal			3,172				-				3,396				-
Consumer			22,821				46				22,006				40
Total		$	442,715			$	24,422			$	422,958			$	16,278

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, 2018												As of December 31, 2017
		Number of loans				Non-accrual balance				Accruing balance				Number of loans				Non-accrual balance				Accruing balance
One-to-four family residential real estate			2			$	-			$	188				2			$	-			$	194
Construction and land			4				567				1,074				4				575				1,252
Commercial real estate			2				-				2,127				3				45				2,133
Commercial			1				41				-				-				-				-
Agriculture			6				136				218				9				471				-
Municipal			2				-				126				2				-				140
Total troubled debt restructurings			17			$	744			$	3,733				20			$	1,091			$	3,719

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