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Loans and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2022

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)		2022				2021
One-to-four family residential real estate loans		$	205,466			$	166,081
Construction and land loans			18,119				27,644
Commercial real estate loans			228,669				198,472
Commercial loans			144,582				132,154
Paycheck protection program loans			410				17,179
Agriculture loans			86,114				94,267
Municipal loans			2,036				2,050
Consumer loans			25,911				24,541
Total gross loans			711,307				662,388
Net deferred loan costs (fees) and loans in process			(311	)			(380	)
Allowance for loan losses			(8,858	)			(8,775	)
Loans, net		$	702,138			$	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 

(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
		Three and nine months ended September 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 July 1, 2022		$	580			$	133			$	2,982			$	2,651			$	-			$	1,820			$	6			$	143			$	8,315
Charge-offs			-				-				-				-				-				-				-				(106	)			(106	)
Recoveries			-				65				-				5				-				56				-				23				149
Provision for loan losses			25				(92	)			216				146				-				130				(1	)			76				500
Balance at September 30, 2022		$	605			$	106			$	3,198			$	2,802			$	-			$	2,006			$	5			$	136			$	8,858
Balance at January 1, 2022		$	623			$	138			$	3,051			$	2,613			$	-			$	2,221			$	6			$	123			$	8,775
Charge-offs			-				-				-				-				-				-				-				(235	)			(235	)
Recoveries			-				165				-				28				-				59				6				60				318
Provision for loan losses			(18	)			(197	)			147				161				-				(274	)			(7	)			188				-
Balance at September 30, 2022		$	605			$	106			$	3,198			$	2,802			$	-			$	2,006			$	5			$	136			$	8,858

		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 June 30, 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
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	)			-				(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

		As of September 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		$	-			$	-			$	-			$	663			$	-			$	30			$	-			$	-			$	693
Collectively evaluated for loss			605				106				3,198				2,139				-				1,976				5				136				8,165
Total		$	605			$	106			$	3,198			$	2,802			$	-			$	2,006			$	5			$	136			$	8,858
Loan balances:
Individually evaluated for loss		$	352			$	195			$	2,124			$	1,105			$	-			$	1,877			$	36			$	19			$	5,708
Collectively evaluated for loss			205,114				17,924				226,545				143,477				410				84,237				2,000				25,892				705,599
Total		$	205,466			$	18,119			$	228,669			$	144,582			$	410			$	86,114			$	2,036			$	25,911			$	711,307

		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 September 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		$	352			$	352			$	352			$	-			$	-			$	390			$	6
Construction and land			195				195				195				-				-				195				6
Commercial real estate			2,124				2,124				2,124				-				-				2,173				40
Commercial			1,356				1,105				324				781				663				1,186				12
Agriculture			1,960				1,877				1,847				30				30				1,932				48
Municipal			36				36				36				-				-				36				1
Consumer			19				19				19				-				-				19				-
Total impaired loans		$	6,042			$	5,708			$	4,897			$	811			$	693			$	5,931			$	113

(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 September 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		$	15			$	114			$	-			$	129			$	195			$	324			$	205,142
Construction and land loans			-				-				-				-				195				195				17,924
Commercial real estate loans			65				-				-				65				2,124				2,189				226,480
Commercial loans			4				-				-				4				860				864				143,718
Paycheck protection program loans			-				389				-				389				-				389				21
Agriculture loans			20				-				-				20				1,430				1,450				84,664
Municipal loans			-				-				-				-				-				-				2,036
Consumer loans			1				49				-				50				19				69				25,842
Total		$	105			$	552			$	-			$	657			$	4,823			$	5,480			$	705,827
Percent of gross loans			0.01	%			0.08	%			0.00	%			0.09	%			0.68	%			0.77	%			99.23	%

(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 September 30, 2022								As of December 31, 2021
(Dollars in thousands)		Nonclassified				Classified				Nonclassified				Classified
One-to-four family residential real estate loans		$	205,122			$	344			$	165,299			$	782
Construction and land loans			17,924				195				26,963				681
Commercial real estate loans			223,334				5,335				193,669				4,803
Commercial loans			135,739				8,843				123,609				8,545
Paycheck protection program loans			410				-				17,179				-
Agriculture loans			84,684				1,430				91,036				3,231
Municipal loan			2,036				-				2,050				-
Consumer loans			25,892				19				24,541				-
Total		$	695,141			$	16,166			$	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 September 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			$	-			$	157				2			$	-			$	161
Construction and land loans			1				195				-				3				681				113
Commercial real estate loans			2				1,224				-				2				1,224				-
Commercial loans			2				33				245				4				33				436
Agriculture loans			3				-				447				4				-				742
Municipal loan			1				-				36				1				-				36
Total			11			$	1,452			$	885				16			$	1,938			$	1,488

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