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Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Schedule of Loans

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

 Schedule of Loans

		June 30,				December 31,
(Dollars in thousands)		2022				2021
One-to-four family residential real estate loans		$	192,517			$	166,081
Construction and land loans			23,092				27,644
Commercial real estate loans			209,879				198,472
Commercial loans			137,929				132,154
Paycheck protection program loans			652				17,179
Agriculture loans			78,240				94,267
Municipal loans			2,076				2,050
Consumer loans			25,531				24,541
Total gross loans			669,916				662,388
Net deferred loan costs (fees) and loans in process			229				(380	)
Allowance for loan losses			(8,315	)			(8,775	)
Loans, net		$	661,830			$	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 and six months ended June 30, 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 April 1, 2022		$	624			$	146			$	3,061			$	2,465			$	-			$	1,929			$	6			$	126			$	8,357
Charge-offs			-				-				-				-				-				-				-				(76	)			(76	)
Recoveries			-				-				-				9				-				2				-				23				34
Provision for loan losses			(44	)			(13	)			(79	)			177				-				(111	)			-				70				-
Balance at June 30, 2022		$	580			$	133			$	2,982			$	2,651			$	-			$	1,820			$	6			$	143			$	8,315
Balance at January 1, 2022		$	623			$	138			$	3,051			$	2,613			$	-			$	2,221			$	6			$	123			$	8,775
Charge-offs			-				-				-				-				-				-				-				(129	)			(129	)
Recoveries			-				100				-				23				-				3				6				37				169
Provision for loan losses			(43	)			(105	)			(69	)			15				-				(404	)			(6	)			112				(500	)
Balance at June 30, 2022		$	580			$	133			$	2,982			$	2,651			$	-			$	1,820			$	6			$	143			$	8,315

		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
Allowance for loan losses:
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
Reversal of 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

		As of June 30, 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		$	-			$	-			$	-			$	644			$	-			$	-			$	-			$	-			$	644
Collectively evaluated for loss			580				133				2,982				2,007				-				1,820				6				143				7,671
Total		$	580			$	133			$	2,982			$	2,651			$	-			$	1,820			$	6			$	143			$	8,315
Loan balances:
Individually evaluated for loss		$	564			$	195			$	2,173			$	1,112			$	-			$	1,780			$	36			$	10			$	5,870
Collectively evaluated for loss			191,953				22,897				207,706				136,817				652				76,460				2,040				25,521				664,046
Total		$	192,517			$	23,092			$	209,879			$	137,929			$	652			$	78,240			$	2,076			$	25,531			$	669,916

			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 June 30, 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		$	564			$	564			$	564			$	-			$	-			$	573			$	4
Construction and land			195				195				195				-				-				195				4
Commercial real estate			2,173				2,173				2,173				-				-				2,190				25
Commercial			1,363				1,112				379				733				644				1,152				8
Agriculture			1,882				1,780				1,780				-				-				1,755				29
Municipal			36				36				36				-				-				36				-
Consumer			10				10				10				-				-				10				-
Total impaired loans		$	6,223			$	5,870			$	5,137			$	733			$	644			$	5,911			$	70

(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 June 30, 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		$	-			$	120			$	-			$	120			$	406			$	526			$	191,991
Construction and land loans			-				-				-				-				195				195				22,897
Commercial real estate loans			67				-				-				67				2,173				2,240				207,639
Commercial loans			5				-				-				5				815				820				137,109
Paycheck protection program loans			-				-				-				-				-				-				652
Agriculture loans			30				599				-				629				1,288				1,917				76,323
Municipal loans			-				-				-				-				-				-				2,076
Consumer loans			35				21				-				56				10				66				25,465
Total		$	137			$	740			$	-			$	877			$	4,887			$	5,764			$	664,152
Percent of gross loans			0.02	%			0.11	%			0.00	%			0.13	%			0.73	%			0.86	%			99.14	%

(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 June 30, 2022								As of December 31, 2021
(Dollars in thousands)		Nonclassified				Classified				Nonclassified				Classified
One-to-four family residential real estate loans		$	191,962			$	555			$	165,299			$	782
Construction and land loans			22,897				195				26,963				681
Commercial real estate loans			205,227				4,652				193,669				4,803
Commercial loans			133,719				4,210				123,609				8,545
Paycheck protection program loans			652				-				17,179				-
Agriculture loans			76,952				1,288				91,036				3,231
Municipal loan			2,076				-				2,050				-
Consumer loans			25,521				10				24,541				-
Total		$	659,006			$	10,910			$	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 June 30, 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			$	-			$	158				2			$	-			$	161
Construction and land loans			1				195				-				3				681				113
Commercial real estate loans			2				1,224				-				2				1,224				-
Commercial loans			2				32				297				4				33				436
Agriculture loans			3				-				492				4				-				742
Municipal loan			1				-				36				1				-				36
Total			11			$	1,451			$	983				16			$	1,938			$	1,488

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