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Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of Loans

Loans consisted of the following:

Schedule of Loans 

(Dollars in thousands)		2021				2020
		As of December 31,
(Dollars in thousands)		2021				2020
One-to-four family residential real estate loans		$	166,081			$	157,984
Construction and land loans			27,644				26,106
Commercial real estate loans			198,472				172,307
Commercial loans			132,154				134,047
Paycheck protection program loans			17,179				100,084
Agriculture loans			94,267				96,532
Municipal loans			2,050				2,332
Consumer loans			24,541				24,122
Total gross loans			662,388				713,514
Net deferred loan (fees) costs and loans in process			(380	)			(1,957	)
Allowance for loan losses			(8,775	)			(8,775	)
Loans, net		$	653,233			$	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 

(Dollars in thousands)
		Year ended December 31, 2021
		One-to-four family residential real estate loans				Construction and land loans				Commercial real estate loans				Commercial loans				Paycheck protection loans				Agriculture loans				Municipal loans				Consumer loans				Total
Allowance for loan losses:
Balance at January 1, 2021		$	859			$	181			$	2,482			$	2,388			$	-			$	2,690			$	6			$	169			$	8,775
Charge-offs			(81	)			-				(540	)			(72	)			-				(50	)			-				(235	)			(978	)
Recoveries			11				263				-				14				-				66				6				118				478
Provision for loan losses			(166	)			(306	)			1,109				283				-				(485	)			(6	)			71				500
Balance at December 31, 2021		$	623			$	138			$	3,051			$	2,613			$	-			$	2,221			$	6			$	123			$	8,775
Allowance for loan losses:
Individually evaluated for loss		$	-			$	-			$	-			$	504			$	-			$	-			$	-			$	-			$	504
Collectively evaluated for loss			623				138				3,051				2,109				-				2,221				6				123				8,271
Total		$	623			$	138			$	3,051			$	2,613			$	-			$	2,221			$	6			$	123			$	8,775
Loan balances:
Individually evaluated for loss		$	578			$	794			$	2,214			$	1,029			$	-			$	2,067			$	36			$	-			$	6,718
Collectively evaluated for loss			165,503				26,850				196,258				131,125				17,179				92,200				2,014				24,541				655,670
Total		$	166,081			$	27,644			$	198,472			$	132,154			$	17,179			$	94,267			$	2,050			$	24,541			$	662,388

(Dollars in thousands)
		Year ended December 31, 2020
		One-to-four family residential real estate loans				Construction and land loans				Commercial real estate loans				Commercial loans				Paycheck protection loans				Agriculture loans				Municipal loans				Consumer loans				Total
Allowance for loan losses:
Balance at January 1, 2020		$	501			$	271			$	1,386			$	1,815			$	-			$	2,347			$	7			$	140			$	6,467
Charge-offs			(251	)			(191	)			(131	)			(292	)			-				(3	)			-				(248	)			(1,116	)
Recoveries			-				-				13				3				-				-				6				102				124
Provision for loan losses			609				101				1,214				862				-				346				(7	)			175				3,300
Balance at December 31, 2020		$	859			$	181			$	2,482			$	2,388			$	-			$	2,690			$	6			$	169			$	8,775
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

(Dollars in thousands)
		Year ended December 31, 2019
		One-to-four family residential real estate				Construction and land				Commercial real estate				Commercial loans				Agriculture loans				Municipal loans				Consumer loans				Total
Allowance for loan losses:
Balance at January 1, 2019		$	449			$	168			$	1,686			$	1,051			$	2,238			$	7			$	166			$	5,765
Charge-offs			(56	)			(31	)			-				(453	)			-				-				(285	)			(825	)
Recoveries			1				-				-				53				-				6				67				127
Provision for loan losses			107				134				(300	)			1,164				109				(6	)			192				1,400
Balance at December 31, 2019		$	501			$	271			$	1,386			$	1,815			$	2,347			$	7			$	140			$	6,467
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

 Schedule of Impaired Financing Receivables

(Dollars in thousands)
		As of December 31, 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 loans		$	578			$	578			$	578			$	-			$	-			$	590			$	8
Construction and land loans			2,401				794				794				-				-				895				16
Commercial real estate loans			2,214				2,214				2,214				-				-				2,388				37
Commercial loans			1,380				1,029				520				509				504				1,096				38
Agriculture loans			2,235				2,067				2,067				-				-				2,420				67
Municipal loans			36				36				36				-				-				36				1
Total impaired loans		$	8,844			$	6,718			$	6,209			$	509			$	504			$	7,425			$	167

		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 loans		$	914			$	914			$	914			$	-			$	-			$	925			$	3
Construction and land loans			2,872				1,137				1,137				-				-				1,211				26
Commercial real estate loans			8,119				8,119				4,302				3,817				177				8,152				8
Commercial loans			1,990				1,639				1,543				96				22				1,984				43
Agriculture loans			829				614				538				76				67				618				67
Municipal loans			36				36				36				-				-				54				1
Consumer loans			3				3				3				-				-				4				-
Total impaired loans		$	14,763			$	12,462			$	8,473			$	3,989			$	266			$	12,948			$	148

		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 loans		$	1,297			$	1,256			$	887			$	369			$	129			$	1,291			$	10
Construction and land loans			3,214				1,479				1,288				191				191				1,631				36
Commercial real estate loans			3,461				3,461				3,258				203				103				3,489				478
Commercial loans			1,427				1,298				416				882				204				1,464				11
Agriculture loans			1,339				1,124				613				511				106				1,166				48
Municipal loans			58				58				58				-				-				58				1
Consumer loans			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

Schedule of Past Due Financing Receivables 

(Dollars in thousands)
		As of December 31, 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		$	20			$	125			$	-			$	145			$	417			$	562			$	165,519
Construction and land loans			-				-				-				-				681				681				26,963
Commercial real estate loans			-				-				-				-				2,214				2,214				196,258
Commercial loans			289				340				-				629				593				1,222				130,932
Paycheck protection program loans			-				-				-				-				-				-				17,179
Agriculture loans			1,189				-				-				1,189				1,325				2,514				91,753
Municipal loans			-				-				-				-				-				-				2,050
Consumer loans			18				9				-				27				-				27				24,514
Total		$	1,516			$	474			$	-			$	1,990			$	5,230			$	7,220			$	655,168
Percent of gross loans			0.23	%			0.07	%			0.00	%			0.30	%			0.79	%			1.09	%			98.91	%

		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 December 31, 2021								As of December 31, 2020
(Dollars in thousands)		Nonclassified				Classified				Nonclassified				Classified
One-to-four family residential real estate loans		$	165,299			$	782			$	154,985			$	2,999
Construction and land loans			26,963				681				25,412				694
Commercial real estate loans			193,669				4,803				161,661				10,646
Commercial loans			123,609				8,545				132,023				2,024
Paycheck protection program loans			17,179				-				100,084				-
Agriculture loans			91,036				3,231				87,662				8,870
Municipal loans			2,050				-				2,332				-
Consumer loans			24,541				-				24,119				3
Total		$	644,346			$	18,042			$	688,278			$	25,236

Schedule of Troubled Debt Restructurings on Financing Receivables

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

Schedule of Troubled Debt Restructurings on Financing Receivables

(Dollars in thousands)
		As of December 31, 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			3				681				113				5				693				443
Commercial real estate loans			2				1,224				-				2				1,227				-
Commercial loans			4				33				436				7				33				765
Agriculture			4				-				742				4				-				538
Municipal loans			1				-				36				1				-				36
Total troubled debt restructurings			16			$	1,938			$	1,488				21			$	1,953			$	1,947

Schedule of Loan to Directors Officers and Affiliated Parties

 Schedule of Loan to Directors Officers and Affiliated Parties

(Dollars in thousands)
Balance at December 31, 2020		$	16,094
New loans			10,920
Repayments			(17,077	)
Balance at December 31, 2021		$	9,937

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