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Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Schedule of Loans

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

 Schedule of Loans

		March 31,				December 31,
(Dollars in thousands)		2022				2021
One-to-four family residential real estate loans		$	169,514			$	166,081
Construction and land loans			25,408				27,644
Commercial real estate loans			196,736				198,472
Commercial loans			127,226				132,154
Paycheck protection program loans			5,218				17,179
Agriculture loans			82,484				94,267
Municipal loans			2,212				2,050
Consumer loans			24,751				24,541
Total gross loans			633,549				662,388
Net deferred loan costs (fees) and loans in process			(43	)			(380	)
Allowance for loan losses			(8,357	)			(8,775	)
Loans, net		$	625,149			$	653,233

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 months ended March 31, 2022
(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 January 1, 2022		$	623			$	138			$	3,051			$	2,613			$	-			$	2,221			$	6			$	123			$	8,775
Charge-offs			-				-				-				-				-				-				-				(53	)			(53	)
Recoveries			-				100				-				14				-				1				6				14				135
Provision for loan losses			1				(92	)			10				(162	)			-				(293	)			(6	)			42				(500	)
Balance at March 31, 2022		$	624			$	146			$	3,061			$	2,465			$	-			$	1,929			$	6			$	126			$	8,357

		Three months ended March 31, 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 January 1, 2021		$	859			$	181			$	2,482			$	2,388			$	-			$	2,690			$	6			$	169			$	8,775
Charge-offs			(23	)			-				-				-				-				-				-				(41	)			(64	)
Recoveries			1				1				-				1				-				-				6				51				60
Provision for loan losses			60				4				775				(143	)			-				(187	)			(6	)			(3	)			500
Balance at March 31, 2021		$	897			$	186			$	3,257			$	2,246			$	-			$	2,503			$	6			$	176			$	9,271

		As of March 31, 2022
(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		$	-			$	-			$	-			$	492			$	-			$	51			$	-			$	-			$	543
Collectively evaluated for loss			624				146				3,061				1,973				-				1,878				6				126				7,814
Total		$	624			$	146			$	3,061			$	2,465			$	-			$	1,929			$	6			$	126			$	8,357
Loan balances:
Individually evaluated for loss		$	580			$	195			$	2,194			$	927			$	-			$	1,738			$	36			$	-			$	5,670
Collectively evaluated for loss			168,934				25,213				194,542				126,299				5,218				80,746				2,176				24,751				627,879
Total		$	169,514			$	25,408			$	196,736			$	127,226			$	5,218			$	82,484			$	2,212			$	24,751			$	633,549

		As of December 31, 2021
(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		$	-			$	-			$	-			$	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

Schedule of Impaired Financing Receivables

The following tables present information on impaired loans:

Schedule of Impaired Financing Receivables 

		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
(Dollars in thousands)		As of March 31, 2022
		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		$	580			$	580			$	580			$	-			$	-			$	581			$	2
Construction and land			195				195				195				-				-				195				2
Commercial real estate			2,194				2,194				2,194				-				-				2,204				12
Commercial			1,178				927				434				493				492				955				4
Agriculture			1,840				1,738				1,418				320				51				1,757				15
Municipal			36				36				36				-				-				36				-
Total impaired loans		$	6,023			$	5,670			$	4,857			$	813			$	543			$	5,728			$	35

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

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 March 31, 2022
		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		$	26			$	-			$	-			$	26			$	421			$	447			$	169,067
Construction and land loans			-				-				-				-				195				195				25,213
Commercial real estate loans			195				-				-				195				2,194				2,389				194,347
Commercial loans			289				-				-				289				578				867				126,359
Paycheck protection program loans			-				-				-				-				-				-				5,218
Agriculture loans			308				-				-				308				1,288				1,596				80,888
Municipal loans			-				-				-				-				-				-				2,212
Consumer loans			20				8				-				28				-				28				24,723
Total		$	838			$	8			$	-			$	846			$	4,676			$	5,522			$	628,027
Percent of gross loans			0.13	%			0.00	%			0.00	%			0.13	%			0.74	%			0.87	%			99.13	%

(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	%

Schedule of Troubled Debt Restructurings on Financing Receivables

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

Schedule of Troubled Debt Restructurings on Financing Receivables 

(Dollars in thousands)		Nonclassified				Classified				Nonclassified				Classified
		As of March 31, 2022								As of December 31, 2021
(Dollars in thousands)		Nonclassified				Classified				Nonclassified				Classified
One-to-four family residential real estate loans		$	168,943			$	571			$	165,299			$	782
Construction and land loans			25,213				195				26,963				681
Commercial real estate loans			191,984				4,752				193,669				4,803
Commercial loans			123,280				3,946				123,609				8,545
Paycheck protection program loans			5,218				-				17,179				-
Agriculture loans			80,981				1,503				91,036				3,231
Municipal loan			2,212				-				2,050				-
Consumer loans			24,751				-				24,541				-
Total		$	622,582			$	10,967			$	644,346			$	18,042

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 March 31, 2022												As of December 31, 2021
		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			$	-			$	159				2			$	-			$	161
Construction and land loans			1				195				-				3				681				113
Commercial real estate loans			2				1,224				-				2				1,224				-
Commercial loans			3				33				349				4				33				436
Agriculture loans			3				-				450				4				-				742
Municipal loan			1				-				36				1				-				36
Total			12			$	1,452			$	994				16			$	1,938			$	1,488

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