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Loans and Allowance for Loan Losses (Tables)
 6 Months Ended
Jun. 30, 2021
Receivables [Abstract]  
Schedule of Loans

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

 

   June 30,   December 31, 
(Dollars in thousands)  2021   2020 
         
One-to-four family residential real estate loans  $162,606   $157,984 
Construction and land loans   27,092    26,106 
Commercial real estate loans   189,093    172,307 
Commercial loans   127,672    134,047 
Paycheck protection program loans   61,236    100,084 
Agriculture loans   89,667    96,532 
Municipal loans   2,178    2,332 
Consumer loans   25,676    24,122 
Total gross loans   685,220    713,514 
Net deferred loan fees and loans in process   (2,361)   (1,957)
Allowance for loan losses   (9,163)   (8,775)
Loans, net  $673,696   $702,782 
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 and six months ended June 30, 2021 
(Dollars in thousands)  One-to-four family residential real estate loans   Construction and land loans   Commercial real estate loans   Commercial loans   Paycheck protection program loans   Agriculture loans   Municipal loans   Consumer loans   Total 
                                     
Allowance for loan losses:                                             
Balance at April 1, 2021  $897   $186   $3,257   $2,246   $-   $2,503   $6   $176   $9,271 
Charge-offs   (58)   -    -    (72)   -    (50)   -    (48)   (228)
Recoveries   1    100    -    1    -    -    -    18    120 
Provision for loan losses   (115)   (155)   155    413    -    (297)   (1)   -    - 
Balance at June 30, 2021  $725   $131   $3,412   $2,588   $-   $2,156   $5   $146   $9,163 
                                              
Balance at January 1, 2021  $859   $181   $2,482   $2,388   $-   $2,690   $6   $169   $8,775 
Charge-offs   (81)   -    -    (72)   -    (50)   -    (89)   (292)
Recoveries   2    101    -    2    -    -    6    69    180 
Provision for loan losses   (55)   (151)   930    270    -    (484)   (7)   (3)   500 
Balance at June 30, 2021  $725   $131   $3,412   $2,588   $-   $2,156   $5   $146   $9,163 

 

   Three and six months ended June 30, 2020 
(Dollars in thousands)  One-to-four family residential real estate loans   Construction and land loans   Commercial real estate loans   Commercial loans   Paycheck protection program loans   Agriculture loans   Municipal loans   Consumer loans   Total 
                                     
Allowance for loan losses:                                             
Balance at April 1, 2020  $653   $225   $1,628   $2,425   $-   $2,381   $7   $160   $7,479 
Charge-offs   (20)   -    (120)   -    -    -    -    (36)   (176)
Recoveries   -    -    13    1    -    -    -    30    44 
Provision for loan losses   74    48    172    (70)   -    184    (1)   (7)   400 
Balance at June 30, 2020  $707   $273   $1,693   $2,356   $-   $2,565   $6   $147   $7,747 
                                              
Balance at January 1, 2020  $501   $271   $1,386   $1,815   $-   $2,347   $7   $140   $6,467 
Charge-offs   (20)   (100)   (120)   (33)   -    -    -    (123)   (396)
Recoveries   -    -    13    2    -    -    6    55    76 
Provision for loan losses   226    102    414    572    -    218    (7)   75    1,600 
Balance at June 30, 2020  $707   $273   $1,693   $2,356   $-   $2,565   $6   $147   $7,747 

 

 

   As of June 30, 2021 
(Dollars in thousands)  One-to-four family residential real estate loans   Construction and land loans   Commercial real estate loans   Commercial loans   Paycheck protection program loans   Agriculture loans   Municipal loans   Consumer loans   Total 
                                     
Allowance for loan losses:                                             
Individually evaluated for loss  $-   $-   $504   $512   $-   $143   $-   $-   $1,159 
Collectively evaluated for loss   725    131    2,908    2,076    -    2,013    5    146    8,004 
Total  $725   $131   $3,412   $2,588   $-   $2,156   $5   $146   $9,163 
                                              
Loan balances:                                             
Individually evaluated for loss  $767   $966   $7,849   $1,333   $-   $3,836   $36   $-   $14,787 
Collectively evaluated for loss   161,839    26,126    181,244    126,339    61,236    85,831    2,142    25,676    670,433 
Total  $162,606   $27,092   $189,093   $127,672   $61,236   $89,667   $2,178   $25,676   $685,220 

 

 

   As of December 31, 2020 
(Dollars in thousands)  One-to-four family residential real estate loan   Construction and land loans   Commercial real estate loans   Commercial loans   Paycheck protection program loans   Agriculture loans   Municipal loans   Consumer loans   Total 
                                     
Allowance for loan losses:                                             
Individually evaluated for loss  $-   $-   $177   $22   $-   $67   $-   $-   $266 
Collectively evaluated for loss   859    181    2,305    2,366    -    2,623    6    169    8,509 
Total  $859   $181   $2,482   $2,388   $-   $2,690   $6   $169   $8,775 
                                              
Loan balances:                                             
Individually evaluated for loss  $914   $1,137   $8,119   $1,639   $-   $614   $36   $3   $12,462 
Collectively evaluated for loss   157,070    24,969    164,188    132,408    100,084    95,918    2,296    24,119    701,052 
Total  $157,984   $26,106   $172,307   $134,047   $100,084   $96,532   $2,332   $24,122   $713,514 
Schedule of Impaired Financing Receivables

The following tables present information on impaired loans:

 

  As of June 30, 2021 
(Dollars in thousands)  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  $767   $767   $767   $-   $-   $777   $4 
Construction and land   2,701    966    966    -    -    1,020    11 
Commercial real estate   7,849    7,849    2,394    5,455    504    7,883    19 
Commercial   1,684    1,333    751    582    512    1,349    1 
Agriculture   4,051    3,836    2,257    1,579    143    3,860    32 
Municipal   36    36    36    -    -    36    - 
Total impaired loans  $17,088   $14,787   $7,171   $7,616   $1,159   $14,925   $67 

 

  As of December 31, 2020 
(Dollars in thousands)  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  $914   $914   $914   $-   $-   $925   $3 
Construction and land   2,872    1,137    1,137    -    -    1,211    26 
Commercial real estate   8,119    8,119    4,302    3,817    177    8,152    8 
Commercial   1,990    1,639    1,543    96    22    1,984    43 
Agriculture   829    614    538    76    67    618    67 
Municipal   36    36    36    -    -    54    1 
Consumer   3    3    3    -    -    4    - 
Total impaired loans  $14,763   $12,462   $8,473   $3,989   $266   $12,948   $148 
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 June 30, 2021 
    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 loans  $10   $173   $-   $183   $605   $788   $161,818 
Construction and land loans   -    -    -    -    687    687    26,405 
Commercial real estate loans   -    -    -    -    7,849    7,849    181,244 
Commercial loans   380    650    -    1,030    841    1,871    125,801 
Paycheck protection program loans   -    -    -    -    -    -    61,236 
Agriculture loans   306    338    -    644    3,315    3,959    85,708 
Municipal loans   -    -    -    -    -    -    2,178 
Consumer loans   23    1    -    24    -    24    25,652 
Total  $719   $1,162   $-   $1,881   $13,297   $15,178   $670,042 
                                    
Percent of gross loans   0.10%   0.17%   0.00%   0.27%   1.94%   2.21%   97.79%

 

 

(Dollars in thousands)  As of December 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 loans  $262   $185   $-   $447   $749   $1,196   $156,788 
Construction and land loans   -    -    -    -    694    694    25,412 
Commercial real estate loans   -    -    -    -    8,119    8,119    164,188 
Commercial loans   832    -    -    832    874    1,706    132,341 
Paycheck protection program loans   -    -    -    -    -    -    100,084 
Agriculture loans   206    29    -    235    76    311    96,221 
Municipal loans   -    -    -    -    -    -    2,332 
Consumer loans   15    1    -    16    3    19    24,103 
Total  $1,315   $215   $-   $1,530   $10,515   $12,045   $701,469 
                                    
Percent of gross loans   0.19%   0.03%   0.00%   0.22%   1.47%   1.69%   98.31%
Schedule of Risk Categories by Loan Class

The following table provides information on the Company’s risk categories by loan class:

 

   As of June 30 2021   As of December 31, 2020 
(Dollars in thousands)  Nonclassified   Classified   Nonclassified   Classified 
                 
One-to-four family residential real estate loans  $159,159   $3,447   $154,985   $2,999 
Construction and land loans   26,405    687    25,412    694 
Commercial real estate loans   178,308    10,785    161,661    10,646 
Commercial loans   125,697    1,975    132,023    2,024 
Paycheck protection program loans   61,236    -    100,084    - 
Agriculture loans   83,487    6,180    87,662    8,870 
Municipal loan   2,178    -    2,332    - 
Consumer loans   25,676    -    24,119    3 
Total  $662,146   $23,074   $688,278   $25,236 
Schedule of Troubled Debt Restructurings on Financing Receivables

The following table presents information on loans that are classified as TDRs:

 

  As of June 30, 2021   As of December 31, 2020 
(Dollars in thousands)  Number of loans   Non-accrual balance   Accruing balance   Number of loans   Non-accrual balance   Accruing balance 
                         
One-to-four family residential real estate loans   2   $-   $162    2   $-   $165 
Construction and land loans   4    687    279    5    693    443 
Commercial real estate loans   2    1,227    -    2    1,227    - 
Commercial loans   4    73    492    7    33    765 
Agriculture loans   4    -    521    4    -    538 
Municipal loan   1    -    36    1    -    36 
Total   17   $1,987   $1,490    21   $1,953   $1,947