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Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
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