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Loans and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2018

Receivables [Abstract]

Schedule of Loans

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

		September 30,				December 31,
(Dollars in thousands)		2018				2017
One-to-four family residential real estate		$	136,995			$	136,215
Construction and land			30,841				19,356
Commercial real estate			128,292				120,624
Commercial			67,898				54,591
Agriculture			91,376				83,008
Municipal			2,990				3,396
Consumer			23,012				22,046
Total gross loans			481,404				439,236
Net deferred loan costs and loans in process			(18	)			(34	)
Allowance for loan losses			(5,889	)			(5,459	)
Loans, net		$	475,497			$	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 nine months ended September 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 July 1, 2018		$	439			$	109			$	1,466			$	1,693			$	2,005			$	7			$	116			$	5,835
Charge-offs			-				-				-				(352	)			-				-				(49	)			(401	)
Recoveries			1				-				-				1				-				-				3				5
Provision for loan losses			109				6				(19	)			191				99				-				64				450
Balance at September 30, 2018			549				115				1,447				1,533				2,104				7				134				5,889
Balance at January 1, 2018		$	542			$	181			$	1,540			$	1,226			$	1,812			$	8			$	150			$	5,459
Charge-offs			-				-				-				(381	)			-				-				(126	)			(507	)
Recoveries			3				-				1				3				-				2				28				37
Provision for loan losses			4				(66	)			(94	)			685				292				(3	)			82				900
Balance at September 30, 2018			549				115				1,447				1,533				2,104				7				134				5,889

(Dollars in thousands)		Three and nine months ended September 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 July 1, 2017		$	499			$	70			$	1,709			$	1,081			$	1,772			$	10			$	185			$	5,326
Charge-offs			-				-				-				-				-				-				(84	)			(84	)
Recoveries			1				-				-				10				-				14				12				37
Provision for loan losses			-				33				11				(82	)			87				(15	)			66				100
Balance at September 30, 2017			500				103				1,720				1,009				1,859				9				179				5,379
Balance at January 1, 2017		$	504			$	53			$	1,777			$	1,119			$	1,684			$	12			$	195			$	5,344
Charge-offs			(19	)			-				(61	)			-				-				-				(249	)			(329	)
Recoveries			9				-				-				19				1				14				71				114
Provision for loan losses			6				50				4				(129	)			174				(17	)			162				250
Balance at September 30, 2017			500				103				1,720				1,009				1,859				9				179				5,379

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 September 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		$	190			$	-			$	13			$	666			$	-			$	-			$	1			$	870
Collectively evaluated for loss			359				115				1,434				867				2,104				7				133				5,019
Total		$	549			$	115			$	1,447			$	1,533			$	2,104			$	7			$	134			$	5,889
Loan balances:
Individually evaluated for loss		$	773			$	1,616			$	3,916			$	2,013			$	647			$	58			$	80			$	9,103
Collectively evaluated for loss			136,222				29,225				124,376				65,885				90,729				2,932				22,932				472,301
Total		$	136,995			$	30,841			$	128,292			$	67,898			$	91,376			$	2,990			$	23,012			$	481,404

(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 September 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		$	773			$	773			$	450			$	323			$	190			$	793			$	7
Construction and land			3,351				1,616				1,616				-				-				1,817				42
Commercial real estate			3,916				3,916				3,880				36				13				3,926				365
Commercial			2,013				2,013				2				2,011				666				2,043				-
Agriculture			862				647				647				-				-				717				39
Municipal			58				58				58				-				-				58				1
Consumer			80				80				73				7				1				83				-
Total impaired loans		$	11,053			$	9,103			$	6,726			$	2,377			$	870			$	9,437			$	454

(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 September 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		$	129			$	344			$	-			$	473			$	588			$	1,061			$	135,934
Construction and land			157				116				-				273				671				944				29,897
Commercial real estate			227				-				-				227				1,792				2,019				126,273
Commercial			26				93				-				119				2,013				2,132				65,766
Agriculture			294				50				-				344				413				757				90,619
Municipal			-				-				-				-				-				-				2,990
Consumer			35				4				-				39				80				119				22,893
Total		$	868			$	607			$	-			$	1,475			$	5,557			$	7,032			$	474,372
Percent of gross loans			0.18	%			0.13	%			0.00	%			0.31	%			1.15	%			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 September 30, 2018								As of December 31, 2017
		Non-classified				Classified				Non-classified				Classified
One-to-four family residential real estate		$	135,821			$	1,174			$	135,475			$	740
Construction and land			29,896				945				18,577				779
Commercial real estate			118,293				9,999				114,736				5,888
Commercial			59,788				8,110				52,313				2,278
Agriculture			84,344				7,032				76,455				6,553
Municipal			2,990				-				3,396				-
Consumer			22,932				80				22,006				40
Total		$	454,064			$	27,340			$	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 September 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			$	-			$	185				2			$	-			$	194
Construction and land			4				527				945				4				575				1,252
Commercial real estate			2				-				2,124				3				45				2,133
Commercial			1				41				-				-				-				-
Agriculture			4				63				234				9				471				-
Municipal			1				-				58				2				-				140
Total troubled debt restructurings			14			$	631			$	3,546				20			$	1,091			$	3,719

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