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Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2019
Receivables [Abstract]  
Schedule of Loans

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

 

    March 31,     December 31,  
(Dollars in thousands)   2019     2018  
One-to-four family residential real estate   $ 135,871     $ 136,895  
Construction and land     18,386       20,083  
Commercial real estate     141,148       138,967  
Commercial     79,103       74,289  
Agriculture     94,905       96,632  
Municipal     2,922       2,953  
Consumer     24,160       25,428  
Total gross loans     496,495       495,247  
Net deferred loan costs and loans in process     116       (109 )
Allowance for loan losses     (5,938 )     (5,765 )
Loans, net   $ 490,673     $ 489,373  
Schedule of Allowance for Credit Losses On Financing Receivables

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

 

    Three months ended March 31, 2019  
(Dollars in thousands)   One-to-four family residential real estate     Construction and land     Commercial real estate     Commercial     Agriculture     Municipal     Consumer     Total  
Allowance for loan losses:                                                                
Balance at January 1, 2019   $ 449     $ 168     $ 1,686     $ 1,051     $ 2,238     $ 7     $ 166     $ 5,765  
Charge-offs     -       -       -       -       -       -       (49 )     (49 )
Recoveries     1       -       -       1       -       6       14       22  
Provision for loan losses     24       (12 )     185       113       (110 )     (6 )     6       200  
Balance at March 31, 2019   $ 474     $ 156     $ 1,871     $ 1,165     $ 2,128     $ 7     $ 137     $ 5,938  

 

    Three months ended March 31, 2018  
(Dollars in thousands)   One-to-four family residential real estate     Construction and land     Commercial real estate     Commercial     Agriculture     Municipal     Consumer     Total  
Allowance for loan losses:                                                                
Balance at January 1, 2018   $ 542     $ 181     $ 1,540     $ 1,226     $ 1,812     $ 8     $ 150     $ 5,459  
Charge-offs     -       -       -       -       -       -       (33 )     (33 )
Recoveries     1       -       1       1       -       2       13       18  
Provision for loan losses     (66 )     (60 )     21       257       55       (3 )     (4 )     200  
Balance at March 31, 2018   $ 477     $ 121     $ 1,562     $ 1,484     $ 1,867     $ 7     $ 126     $ 5,644  

 

    As of March 31, 2019  
(Dollars in thousands)   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   $ 115     $ 97     $ 223     $ 20     $ -     $ -     $ -     $ 455  
Collectively evaluated for loss     359       59       1,648       1,145       2,128       7       137       5,483  
Total   $ 474     $ 156     $ 1,871     $ 1,165     $ 2,128     $ 7     $ 137     $ 5,938  
Loan balances:                                                                
Individually evaluated for loss   $ 958     $ 1,766     $ 3,986     $ 1,567     $ 1,609     $ 58     $ 41     $ 9,985  
Collectively evaluated for loss     134,913       16,620       137,162       77,536       93,296       2,864       24,119       486,510  
Total   $ 135,871     $ 18,386     $ 141,148     $ 79,103     $ 94,905     $ 2,922     $ 24,160     $ 496,495  

 

    As of December 31, 2018  
(Dollars in thousands)   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   $ 100     $ 103     $ 67     $ 27     $ 13     $ -     $ -     $ 310  
Collectively evaluated for loss     349       65       1,619       1,024       2,225       7       166       5,455  
Total   $ 449     $ 168     $ 1,686     $ 1,051     $ 2,238     $ 7     $ 166     $ 5,765  
                                                                 
Loan balances:                                                                
Individually evaluated for loss   $ 623     $ 1,808     $ 3,912     $ 1,528     $ 717     $ 58     $ 45     $ 8,691  
Collectively evaluated for loss     136,272       18,275       135,055       72,761       95,915       2,895       25,383       486,556  
Total   $ 136,895     $ 20,083     $ 138,967     $ 74,289     $ 96,632     $ 2,953     $ 25,428     $ 495,247  
Schedule of Impaired Financing Receivables

The following tables present information on impaired loans:

 

(Dollars in thousands)   As of March 31, 2019  
    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   $ 958     $ 958     $ 681     $ 277     $ 115     $ 961     $ 3  
Construction and land     3,501       1,766       1,341       425       97       1,782       10  
Commercial real estate     3,986       3,986       2,023       1,963       223       3,992       118  
Commercial     1,567       1,567       1,441       126       20       1,570       -  
Agriculture     1,824       1,609       1,609       -       -       1,641       12  
Municipal     58       58       58       -       -       58       -  
Consumer     41       41       41       -       -       43       -  
Total impaired loans   $ 11,935     $ 9,985     $ 7,194     $ 2,791     $ 455     $ 10,047     $ 143  

 

(Dollars in thousands)   As of December 31, 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   $ 623     $ 623     $ 413     $ 210     $ 100     $ 640     $ 10  
Construction and land     3,543       1,808       1,383       425       103       2,689       53  
Commercial real estate     3,912       3,912       2,120       1,792       67       3,928       487  
Commercial     1,528       1,528       1,446       82       27       1,537       -  
Agriculture     932       717       529       188       13       844       52  
Municipal     58       58       58       -       -       58       1  
Consumer     45       45       45       -       -       49       -  
Total impaired loans   $ 10,641     $ 8,691     $ 5,994     $ 2,697     $ 310     $ 9,745     $ 603  
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 March 31, 2019  
    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   $ 728     $ 30     $ -     $ 758     $ 779     $ 1,537     $ 134,334  
Construction and land     223       -       -       223       946       1,169       17,217  
Commercial real estate     264       632       -       896       1,962       2,858       138,290  
Commercial     188       73       -       261       1,567       1,828       77,275  
Agriculture     23       -       -       23       1,393       1,416       93,489  
Municipal     -       -       -       -       -       -       2,922  
Consumer     61       2       -       63       41       104       24,056  
Total   $ 1,487     $ 737     $ -     $ 2,224     $ 6,688     $ 8,912     $ 487,583  
                                                         
Percent of gross loans     0.30 %     0.15 %     0.00 %     0.45 %     1.35 %     1.79 %     98.21 %

 

(Dollars in thousands)   As of December 31, 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   $ 131     $ 206     $ -     $ 337     $ 442     $ 779     $ 136,116  
Construction and land     -       134       -       134       948       1,082       19,001  
Commercial real estate     465       -       -       465       1,791       2,256       136,711  
Commercial     398       20       -       418       1,528       1,946       72,343  
Agriculture     100       88       -       188       482       670       95,962  
Municipal     -       -       -       -       -       -       2,953  
Consumer     106       23       -       129       45       174       25,254  
Total   $ 1,200     $ 471     $ -     $ 1,671     $ 5,236     $ 6,907     $ 488,340  
                                                         
Percent of gross loans     0.24 %     0.10 %     0.00 %     0.34 %     1.06 %     1.40 %     98.60 %
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 March 31, 2019     As of December 31, 2018  
    Nonclassified     Classified     Nonclassified     Classified  
                         
One-to-four family residential real estate   $ 134,626     $ 1,245     $ 135,947     $ 948  
Construction and land     17,440       946       19,135       948  
Commercial real estate     129,045       12,103       126,619       12,348  
Commercial     71,275       7,828       66,490       7,799  
Agriculture     86,279       8,626       86,917       9,715  
Municipal     2,922       -       2,953       -  
Consumer     24,119       41       25,383       45  
Total   $ 465,706     $ 30,789     $ 463,444     $ 31,803  
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 March 31, 2019     As of December 31, 2018  
    Number of
loans		     Non-accrual balance     Accruing balance     Number of
loans		     Non-accrual balance     Accruing balance  
                                     
One-to-four family residential real estate     2     $ -     $ 179       2     $ -     $ 181  
Construction and land     4       521       820       4       523       860  
Commercial real estate     1       -       2,024       2       -       2,121  
Commercial     1       32       -       1       36       -  
Agriculture     4       6       216       4       23       235  
Municipal     1       -       58       1       -       58  
Total troubled debt restructurings     13     $ 559     $ 3,297       14     $ 582     $ 3,455