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Loans and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2021

Receivables [Abstract]

Schedule of Loans

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

Schedule of Loans 

		September 30,				December 31,
(Dollars in thousands)		2021				2020
One-to-four family residential real estate loans		$	161,120			$	157,984
Construction and land loans			26,658				26,106
Commercial real estate loans			193,455				172,307
Commercial loans			135,790				134,047
Paycheck protection program loans			28,671				100,084
Agriculture loans			91,305				96,532
Municipal loans			2,115				2,332
Consumer loans			25,624				24,122
Total gross loans			664,738				713,514
Net deferred loan costs (fees) and loans in process			936				(1,957	)
Allowance for loan losses			(8,766	)			(8,775	)
Loans, net		$	656,908			$	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:

Schedule of Allowance for Credit Losses on Financing Receivables 

		Three and nine months ended September 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 July 1, 2021		$	725			$	131			$	3,412			$	2,588			$	-			$	2,156			$	5			$	146			$	9,163
Charge-offs			-				-				(540	)			-				-				-				-				(75	)			(615	)
Recoveries			8				120				-				11				-				50				-				29				218
Provision for loan losses			(89	)			(117	)			25				18				-				117				-				46				-
Balance at September 30, 2021		$	644			$	134			$	2,897			$	2,617			$	-			$	2,323			$	5			$	146			$	8,766
Balance at January 1, 2021		$	859			$	181			$	2,482			$	2,388			$	-			$	2,690			$	6			$	169			$	8,775
Charge-offs			(81	)			-				(540	)			(72	)			-				(50	)			-				(164	)			(907	)
Recoveries			10				221				-				13				-				50				6				98				398
Provision for loan losses			(144	)			(268	)			955				288				-				(367	)			(7	)			43				500
Balance at September 30, 2021		$	644			$	134			$	2,897			$	2,617			$	-			$	2,323			$	5			$	146			$	8,766

		Three and nine months ended September 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 July 1, 2020		$	707			$	273			$	1,693			$	2,356			$	-			$	2,565			$	6			$	147			$	7,747
Charge-offs			(89	)			(91	)			-				(167	)			-				(3	)			-				(57	)			(407	)
Recoveries			-				-				-				1				-				-				-				25				26
Provision for loan losses			213				22				264				436				-				15				-				50				1,000
Balance at September 30, 2020		$	831			$	204			$	1,957			$	2,626			$	-			$	2,577			$	6			$	165			$	8,366
Balance at January 1, 2020		$	501			$	271			$	1,386			$	1,815			$	-			$	2,347			$	7			$	140			$	6,467
Charge-offs			(109	)			(191	)			(120	)			(200	)			-				(3	)			-				(180	)			(803	)
Recoveries			-				-				13				3				-				-				6				80				102
Provision for loan losses			439				124				678				1,008				-				233				(7	)			125				2,600
Balance at Seeptember 30, 2020		$	831			$	204			$	1,957			$	2,626			$	-			$	2,577			$	6			$	165			$	8,366

		As of September 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		$	-			$	-			$	45			$	505			$	-			$	143			$	-			$	-			$	693
Collectively evaluated for loss			644				134				2,852				2,112				-				2,180				5				146				8,073
Total		$	644			$	134			$	2,897			$	2,617			$	-			$	2,323			$	5			$	146			$	8,766
Loan balances:
Individually evaluated for loss		$	917			$	919			$	6,124			$	1,086			$	-			$	2,387			$	36			$	2			$	11,471
Collectively evaluated for loss			160,203				25,739				187,331				134,704				28,671				88,918				2,079				25,622				653,267
Total		$	161,120			$	26,658			$	193,455			$	135,790			$	28,671			$	91,305			$	2,115			$	25,624			$	664,738

		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 Loans

The following tables present information on impaired loans:

Schedule of Impaired Loans

(Dollars in thousands)		As of September 30, 2021
		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		$	917			$	917			$	917			$	-			$	-			$	933			$	6
Construction and land			2,569				919				919				-				-				996				16
Commercial real estate			6,124				6,124				2,384				3,740				45				6,173				28
Commercial			1,437				1,086				573				513				505				1,127				30
Agriculture			2,555				2,387				808				1,579				143				2,212				48
Municipal			36				36				36				-				-				36				-
Consumer			2				2				2				-				-				2				-
Total impaired loans		$	13,640			$	11,471			$	5,639			$	5,832			$	693			$	11,479			$	128

(Dollars in thousands)		As of December 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		$	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:

Schedule of Past Due Financing Receivables 

(Dollars in thousands)		As of September 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		$	47			$	40			$	-			$	87			$	756			$	843			$	160,277
Construction and land loans			-				-				-				-				684				684				25,974
Commercial real estate loans			-				-				-				-				6,124				6,124				187,331
Commercial loans			110				369				-				479				597				1,076				134,714
Paycheck protection program loans			-				-				-				-				-				-				28,671
Agriculture loans			437				500				-				937				1,666				2,603				88,702
Municipal loans			-				-				-				-				-				-				2,115
Consumer loans			39				-				-				39				2				41				25,583
Total		$	633			$	909			$	-			$	1,542			$	9,829			$	11,371			$	653,367
Percent of gross loans			0.09	%			0.14	%			0.00	%			0.23	%			1.48	%			1.71	%			98.29	%

(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:

Schedule of Risk Categories by Loan Class

		As of September 30, 2021								As of December 31, 2020
(Dollars in thousands)		Nonclassified				Classified				Nonclassified				Classified
One-to-four family residential real estate loans		$	158,071			$	3,049			$	154,985			$	2,999
Construction and land loans			25,879				779				25,412				694
Commercial real estate loans			184,756				8,699				161,661				10,646
Commercial loans			133,856				1,934				132,023				2,024
Paycheck protection program loans			28,671				-				100,084				-
Agriculture loans			86,043				5,262				87,662				8,870
Municipal loan			2,115				-				2,332				-
Consumer loans			25,622				2				24,119				3
Total		$	645,013			$	19,725			$	688,278			$	25,236

Schedule of Troubled Debt Restructurings on Financing Receivables

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

Schedule of Troubled Debt Restructurings on Financing Receivables

(Dollars in thousands)
		As of September 30, 2021												As of December 31, 2020
		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			$	-			$	161				2			$	-			$	165
Construction and land loans			4				684				235				5				693				443
Commercial real estate loans			2				1,227				-				2				1,227				-
Commercial loans			4				33				489				7				33				765
Agriculture loans			4				-				721				4				-				538
Municipal loan			1				-				36				1				-				36
Total			17			$	1,944			$	1,642				21			$	1,953			$	1,947

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