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Loans and Allowance for Loan Losses (Tables) | 3 Months Ended
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Mar. 31, 2020
Receivables [Abstract] |
Schedule of Loans | Loans consisted of the following as of the dates indicated below:
|  | March 31, |  |  | December 31, |
(Dollars in thousands) |  | 2020 |  |  | 2019 |
One-to-four family residential real estate |  | $ | 148,994 |  |  | $ | 146,505 |
Construction and land |  |  | 24,657 |  |  |  | 22,459 |
Commercial real estate |  |  | 141,712 |  |  |  | 133,501 |
Commercial |  |  | 121,271 |  |  |  | 109,612 |
Agriculture |  |  | 96,120 |  |  |  | 98,558 |
Municipal |  |  | 2,628 |  |  |  | 2,656 |
Consumer |  |  | 25,662 |  |  |  | 25,101 |
Total gross loans |  |  | 561,044 |  |  |  | 538,392 |
Net deferred loan costs and loans in process |  |  | 171 |  |  |  | 255 |
Allowance for loan losses |  |  | (7,479 | ) |  |  | (6,467 | )
Loans, net |  | $ | 553,736 |  |  | $ | 532,180 |
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, 2020 |
(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, 2020 |  | $ | 501 |  |  | $ | 271 |  |  | $ | 1,386 |  |  | $ | 1,815 |  |  | $ | 2,347 |  |  | $ | 7 |  |  | $ | 140 |  |  | $ | 6,467 |
Charge-offs |  |  | - |  |  |  | (100 | ) |  |  | - |  |  |  | (33 | ) |  |  | - |  |  |  | - |  |  |  | (87 | ) |  |  | (220 | )
Recoveries |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | 6 |  |  |  | 25 |  |  |  | 32 |
Provision for loan losses |  |  | 152 |  |  |  | 54 |  |  |  | 242 |  |  |  | 642 |  |  |  | 34 |  |  |  | (6 | ) |  |  | 82 |  |  |  | 1,200 |
Balance at March 31, 2020 |  | $ | 653 |  |  | $ | 225 |  |  | $ | 1,628 |  |  | $ | 2,425 |  |  | $ | 2,381 |  |  | $ | 7 |  |  | $ | 160 |  |  | $ | 7,479 |
|  | 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 |
|  | As of March 31, 2020 |
(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 |  | $ | 129 |  |  | $ | 91 |  |  | $ | 52 |  |  | $ | 235 |  |  | $ | 36 |  |  | $ | - |  |  | $ | - |  |  | $ | 543 |
Collectively evaluated for loss |  |  | 524 |  |  |  | 134 |  |  |  | 1,576 |  |  |  | 2,190 |  |  |  | 2,345 |  |  |  | 7 |  |  |  | 160 |  |  |  | 6,936 |
Total |  | $ | 653 |  |  | $ | 225 |  |  | $ | 1,628 |  |  | $ | 2,425 |  |  | $ | 2,381 |  |  | $ | 7 |  |  | $ | 160 |  |  | $ | 7,479 |
Loan balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for loss |  | $ | 1,436 |  |  | $ | 1,319 |  |  | $ | 5,504 |  |  | $ | 1,576 |  |  | $ | 690 |  |  | $ | 58 |  |  | $ | 15 |  |  | $ | 10,598 |
Collectively evaluated for loss |  |  | 147,558 |  |  |  | 23,338 |  |  |  | 136,208 |  |  |  | 119,695 |  |  |  | 95,430 |  |  |  | 2,570 |  |  |  | 25,647 |  |  |  | 550,446 |
Total |  | $ | 148,994 |  |  | $ | 24,657 |  |  | $ | 141,712 |  |  | $ | 121,271 |  |  | $ | 96,120 |  |  | $ | 2,628 |  |  | $ | 25,662 |  |  | $ | 561,044 |
|  | As of December 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 |  | $ | 129 |  |  | $ | 191 |  |  | $ | 103 |  |  | $ | 204 |  |  | $ | 106 |  |  | $ | - |  |  | $ | - |  |  | $ | 733 |
Collectively evaluated for loss |  |  | 372 |  |  |  | 80 |  |  |  | 1,283 |  |  |  | 1,611 |  |  |  | 2,241 |  |  |  | 7 |  |  |  | 140 |  |  |  | 5,734 |
Total |  | $ | 501 |  |  | $ | 271 |  |  | $ | 1,386 |  |  | $ | 1,815 |  |  | $ | 2,347 |  |  | $ | 7 |  |  | $ | 140 |  |  | $ | 6,467 |
Loan balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for loss |  | $ | 1,256 |  |  | $ | 1,479 |  |  | $ | 3,461 |  |  | $ | 1,298 |  |  | $ | 1,124 |  |  | $ | 58 |  |  | $ | 4 |  |  | $ | 8,680 |
Collectively evaluated for loss |  |  | 145,249 |  |  |  | 20,980 |  |  |  | 130,040 |  |  |  | 108,314 |  |  |  | 97,434 |  |  |  | 2,598 |  |  |  | 25,097 |  |  |  | 529,712 |
Total |  | $ | 146,505 |  |  | $ | 22,459 |  |  | $ | 133,501 |  |  | $ | 109,612 |  |  | $ | 98,558 |  |  | $ | 2,656 |  |  | $ | 25,101 |  |  | $ | 538,392 |
Schedule of Impaired Financing Receivables | The following tables present information on impaired loans:
(Dollars in thousands) |  | As of March 31, 2020 |
|  | 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 |  | $ | 1,477 |  |  | $ | 1,436 |  |  | $ | 1,067 |  |  | $ | 369 |  |  | $ | 129 |  |  | $ | 1,442 |  |  | $ | 2 |
Construction and land |  |  | 3,154 |  |  |  | 1,319 |  |  |  | 1,228 |  |  |  | 91 |  |  |  | 91 |  |  |  | 1,353 |  |  |  | 7 |
Commercial real estate |  |  | 5,504 |  |  |  | 5,504 |  |  |  | 5,308 |  |  |  | 196 |  |  |  | 52 |  |  |  | 5,510 |  |  |  | 118 |
Commercial |  |  | 1,710 |  |  |  | 1,576 |  |  |  | 680 |  |  |  | 896 |  |  |  | 235 |  |  |  | 1,578 |  |  |  | 1 |
Agriculture |  |  | 905 |  |  |  | 690 |  |  |  | 514 |  |  |  | 176 |  |  |  | 36 |  |  |  | 733 |  |  |  | 13 |
Municipal |  |  | 58 |  |  |  | 58 |  |  |  | 58 |  |  |  | - |  |  |  | - |  |  |  | 58 |  |  |  | - |
Consumer |  |  | 15 |  |  |  | 15 |  |  |  | 15 |  |  |  | - |  |  |  | - |  |  |  | 15 |  |  |  | - |
Total impaired loans |  | $ | 12,823 |  |  | $ | 10,598 |  |  | $ | 8,870 |  |  | $ | 1,728 |  |  | $ | 543 |  |  | $ | 10,689 |  |  | $ | 141 |
(Dollars in thousands) |  | As of December 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 |  | $ | 1,297 |  |  | $ | 1,256 |  |  | $ | 887 |  |  | $ | 369 |  |  | $ | 129 |  |  | $ | 1,291 |  |  | $ | 10 |
Construction and land |  |  | 3,214 |  |  |  | 1,479 |  |  |  | 1,288 |  |  |  | 191 |  |  |  | 191 |  |  |  | 1,631 |  |  |  | 36 |
Commercial real estate |  |  | 3,461 |  |  |  | 3,461 |  |  |  | 3,258 |  |  |  | 203 |  |  |  | 103 |  |  |  | 3,489 |  |  |  | 478 |
Commercial |  |  | 1,427 |  |  |  | 1,298 |  |  |  | 416 |  |  |  | 882 |  |  |  | 204 |  |  |  | 1,464 |  |  |  | 11 |
Agriculture |  |  | 1,339 |  |  |  | 1,124 |  |  |  | 613 |  |  |  | 511 |  |  |  | 106 |  |  |  | 1,166 |  |  |  | 48 |
Municipal |  |  | 58 |  |  |  | 58 |  |  |  | 58 |  |  |  | - |  |  |  | - |  |  |  | 58 |  |  |  | 1 |
Consumer |  |  | 4 |  |  |  | 4 |  |  |  | 4 |  |  |  | - |  |  |  | - |  |  |  | 5 |  |  |  | - |
Total impaired loans |  | $ | 10,800 |  |  | $ | 8,680 |  |  | $ | 6,524 |  |  | $ | 2,156 |  |  | $ | 733 |  |  | $ | 9,104 |  |  | $ | 584 |
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, 2020 |
|  | 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 |  | $ | 67 |  |  | $ | 221 |  |  | $ | - |  |  | $ | 288 |  |  | $ | 1,271 |  |  | $ | 1,559 |  |  | $ | 147,435 |
Construction and land |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 796 |  |  |  | 796 |  |  |  | 23,861 |
Commercial real estate |  |  | 265 |  |  |  | 64 |  |  |  | - |  |  |  | 329 |  |  |  | 3,483 |  |  |  | 3,812 |  |  |  | 137,900 |
Commercial |  |  | 201 |  |  |  | 127 |  |  |  | - |  |  |  | 328 |  |  |  | 1,548 |  |  |  | 1,876 |  |  |  | 119,395 |
Agriculture |  |  | 456 |  |  |  | 1,262 |  |  |  | - |  |  |  | 1,718 |  |  |  | 447 |  |  |  | 2,165 |  |  |  | 93,955 |
Municipal |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,628 |
Consumer |  |  | 11 |  |  |  | - |  |  |  | - |  |  |  | 11 |  |  |  | 15 |  |  |  | 26 |  |  |  | 25,636 |
Total |  | $ | 1,000 |  |  | $ | 1,674 |  |  | $ | - |  |  | $ | 2,674 |  |  | $ | 7,560 |  |  | $ | 10,234 |  |  | $ | 550,810 |
Percent of gross loans |  |  | 0.18 | % |  |  | 0.30 | % |  |  | 0.00 | % |  |  | 0.48 | % |  |  | 1.35 | % |  |  | 1.83 | % |  |  | 98.17 | %
(Dollars in thousands) |  | As of December 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 |  | $79 |  |  | $593 |  |  | $- |  |  | $672 |  |  | $1,088 |  |  | $1,760 |  |  | $144,745 |
Construction and land |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 898 |  |  |  | 898 |  |  |  | 21,561 |
Commercial real estate |  |  | 1,137 |  |  |  | 707 |  |  |  | - |  |  |  | 1,844 |  |  |  | 1,440 |  |  |  | 3,284 |  |  |  | 130,217 |
Commercial |  |  | 510 |  |  |  | 68 |  |  |  | - |  |  |  | 578 |  |  |  | 1,270 |  |  |  | 1,848 |  |  |  | 107,764 |
Agriculture |  |  | 316 |  |  |  | - |  |  |  | - |  |  |  | 316 |  |  |  | 846 |  |  |  | 1,162 |  |  |  | 97,396 |
Municipal |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,656 |
Consumer |  |  | 27 |  |  |  | - |  |  |  | - |  |  |  | 27 |  |  |  | 4 |  |  |  | 31 |  |  |  | 25,070 |
Total |  | $ | 2,069 |  |  | $ | 1,368 |  |  | $ | - |  |  | $ | 3,437 |  |  | $ | 5,546 |  |  | $ | 8,983 |  |  | $ | 529,409 |
Percent of gross loans |  |  | 0.39 | % |  |  | 0.25 | % |  |  | 0.00 | % |  |  | 0.64 | % |  |  | 1.03 | % |  |  | 1.67 | % |  |  | 98.33 | %
Schedule of Risk Categories by Loan Class | The following table provides information on the Company’s risk categories by loan class:
|  | As of March 31, 2020 |  |  | As of December 31, 2019 |
(Dollars in thousands) |  | Nonclassified |  |  | Classified |  |  | Nonclassified |  |  | Classified |
One-to-four family residential real estate |  | $ | 147,591 |  |  | $ | 1,403 |  |  | $ | 145,311 |  |  | $ | 1,194 |
Construction and land |  |  | 23,861 |  |  |  | 796 |  |  |  | 21,560 |  |  |  | 899 |
Commercial real estate |  |  | 137,577 |  |  |  | 4,135 |  |  |  | 130,714 |  |  |  | 2,787 |
Commercial |  |  | 113,195 |  |  |  | 8,076 |  |  |  | 101,678 |  |  |  | 7,934 |
Agriculture |  |  | 90,158 |  |  |  | 5,962 |  |  |  | 93,259 |  |  |  | 5,299 |
Municipal |  |  | 2,628 |  |  |  | - |  |  |  | 2,656 |  |  |  | - |
Consumer |  |  | 25,647 |  |  |  | 15 |  |  |  | 25,097 |  |  |  | 4 |
Total |  | $ | 540,657 |  |  | $ | 20,387 |  |  | $ | 520,275 |  |  | $ | 18,117 |
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, 2020 |  |  | As of December 31, 2019 |
|  | Number of loans |  |  | Non-accrual balance |  |  | Accruing balance |  |  | Number of loans |  |  | Non-accrual balance |  |  | Accruing balance |
One-to-four family residential real estate |  |  | 2 |  |  | $ | - |  |  | $ | 165 |  |  |  | 2 |  |  | $ | - |  |  | $ | 168 |
Construction and land |  |  | 4 |  |  |  | 508 |  |  |  | 523 |  |  |  | 4 |  |  |  | 510 |  |  |  | 581 |
Commercial real estate |  |  | 1 |  |  |  | - |  |  |  | 2,021 |  |  |  | 1 |  |  |  | - |  |  |  | 2,021 |
Commercial |  |  | 1 |  |  |  | - |  |  |  | 28 |  |  |  | 1 |  |  |  | - |  |  |  | 28 |
Agriculture |  |  | 4 |  |  |  | - |  |  |  | 243 |  |  |  | 4 |  |  |  | - |  |  |  | 278 |
Municipal |  |  | 1 |  |  |  | - |  |  |  | 58 |  |  |  | 1 |  |  |  | - |  |  |  | 58 |
Total troubled debt restructurings |  |  | 13 |  |  | $ | 508 |  |  | $ | 3,038 |  |  |  | 13 |  |  | $ | 510 |  |  | $ | 3,134 |

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