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Loans and Allowance for Loan Losses (Tables)
 9 Months Ended
Sep. 30, 2019
Receivables [Abstract]  
Schedule of Loans

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

 

(Dollars in thousands)   September 30, 2019     December 31, 2018  
             
One-to-four family residential real estate   $ 141,801     $ 136,895  
Construction and land     19,702       20,083  
Commercial real estate     135,950       138,967  
Commercial     101,150       74,289  
Agriculture     100,958       96,632  
Municipal     2,728       2,953  
Consumer     24,150       25,428  
Total gross loans     526,439       495,247  
Net deferred loan costs and loans in process     (27 )     (109 )
Allowance for loan losses     (6,279 )     (5,765 )
Loans, net   $ 520,133     $ 489,373  
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, 2019  
    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, 2019   $ 441     $ 255     $ 1,758     $ 1,404     $ 2,260     $ 7     $ 141     $ 6,266  
Charge-offs     (15 )     (31 )     -       (284 )     -       -       (81 )     (411 )
Recoveries     -       -       -       1       -       -       23       24  
Provision for loan losses     249       (156 )     (326 )     490       40       (1 )     104       400  
Balance at September 30, 2019     675       68       1,432       1,611       2,300       6       187       6,279  
                                                                 
Balance at January 1, 2019   $ 449     $ 168     $ 1,686     $ 1,051     $ 2,238     $ 7     $ 166     $ 5,765  
Charge-offs     (56 )     (31 )     -       (324 )     -       -       (183 )     (594 )
Recoveries     1       -       -       52       -       6       49       108  
Provision for loan losses     281       (69 )     (254 )     832       62       (7 )     155       1,000  
Balance at September 30, 2019     675       68       1,432       1,611       2,300       6       187       6,279  

 

(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  

 

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, 2019  
    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     316       7       112       228       -       -       -       663  
Collectively evaluated for loss     359       61       1,320       1,383       2,300       6       187       5,616  
Total     675       68       1,432       1,611       2,300       6       187       6,279  
                                                                 
Loan balances:                                                                
Individually evaluated for loss     1,225       1,540       3,472       1,047       1,764       58       4       9,110  
Collectively evaluated for loss     140,576       18,162       132,478       100,103       99,194       2,670       24,146       517,329  
Total   $ 141,801     $ 19,702     $ 135,950     $ 101,150     $ 100,958     $ 2,728     $ 24,150     $ 526,439  

 

(Dollars in thousands)   As of December 31, 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     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 September 30, 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   $ 1,266     $ 1,225     $ 855     $ 370     $ 316     $ 1,253     $ 8  
Construction and land     3,275       1,540       1,348       192       7       195       28  
Commercial real estate     3,472       3,472       3,269       203       112       3,504       357  
Commercial     1,047       1,047       128       919       228       1,107       11  
Agriculture     1,979       1,764       1,764       -       -       1,753       35  
Municipal     58       58       58       -       -       58       1  
Consumer     4       4       4       -       -       4       -  
Total impaired loans   $ 11,101     $ 9,110     $ 7,426     $ 1,684     $ 663     $ 7,874     $ 440  

 

(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 September 30, 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   $ 71     $ 564     $ -     $ 635     $ 1,053     $ 1,688     $ 140,113  
Construction and land     -       -       -       -       904       904       18,798  
Commercial real estate     15       328       -       343       1,449       1,792       134,158  
Commercial     16       392       -       408       1,019       1,427       99,723  
Agriculture     510       106       -       616       1,509       2,125       98,833  
Municipal     -       -       -       -       -       -       2,728  
Consumer     35       47       -       82       4       86       24,064  
Total   $ 647     $ 1,437     $ -     $ 2,084     $ 5,938     $ 8,022     $ 518,417  
                                                         
Percent of gross loans     0.12 %     0.28 %     0.00 %     0.40 %     1.13 %     1.53 %     98.47 %

 

(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 September 30, 2019     As of December 31, 2018  
    Non-classified     Classified     Non-classified     Classified  
                         
One-to-four family residential real estate   $ 140,596     $ 1,205     $ 135,947     $ 948  
Construction and land     18,798       904       19,135       948  
Commercial real estate     130,913       5,037       126,619       12,348  
Commercial     93,125       8,025       66,490       7,799  
Agriculture     92,120       8,838       86,917       9,715  
Municipal     2,728       -       2,953       -  
Consumer     24,146       4       25,383       45  
Total   $ 502,426     $ 24,013     $ 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 September 30, 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     $ -     $ 172       2     $ -     $ 181  
Construction and land     4       513       636       4       523       860  
Commercial real estate     1       -       2,023       2       -       2,121  
Commercial     1       -       28       1       36       -  
Agriculture     4       -       255       4       23       235  
Municipal     1       -       58       1       -       58  
Total troubled debt restructurings     13     $ 513     $ 3,172       14     $ 582     $ 3,455