XML 28 R15.htm IDEA: XBRL DOCUMENT
v3.23.1

Loans and Allowance for Loan Losses | 12 Months Ended
--- | ---
Dec. 31, 2022
Receivables [Abstract] |
Loans and Allowance for Loan Losses | (6) Loans and Allowance for Loan Losses Loans consisted of the following: Schedule of Loans
|  | As of December 31, |
(Dollars in thousands) |  | 2022 |  |  | 2021 |
One-to-four family residential real estate loans |  | $ | 236,982 |  |  | $ | 166,081 |
Construction and land loans |  |  | 22,725 |  |  |  | 27,644 |
Commercial real estate loans |  |  | 304,074 |  |  |  | 198,472 |
Commercial loans |  |  | 173,415 |  |  |  | 132,154 |
Paycheck protection program loans |  |  | 21 |  |  |  | 17,179 |
Agriculture loans |  |  | 84,283 |  |  |  | 94,267 |
Municipal loans |  |  | 2,026 |  |  |  | 2,050 |
Consumer loans |  |  | 26,664 |  |  |  | 24,541 |
Total gross loans |  |  | 850,190 |  |  |  | 662,388 |
Net deferred loan (fees) costs and loans in process |  |  | (250 | ) |  |  | (380 | )
Allowance for loan losses |  |  | (8,791 | ) |  |  | (8,775 | )
Loans, net |  | $ | 841,149 |  |  | $ | 653,233 |
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
|  | 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 |
(Dollars in thousands) |  | Year ended December 31, 2022 |
|  | 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, 2022 |  | $ | 623 |  |  | $ | 138 |  |  | $ | 3,051 |  |  | $ | 2,613 |  |  | $ | - |  |  | $ | 2,221 |  |  | $ | 6 |  |  | $ | 123 |  |  | $ | 8,775 |
Charge-offs |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (336 | ) |  |  | (336 | )
Recoveries |  |  | - |  |  |  | 165 |  |  |  | - |  |  |  | 38 |  |  |  | - |  |  |  | 59 |  |  |  | 6 |  |  |  | 84 |  |  |  | 352 |
Provision for loan losses |  |  | 32 |  |  |  | (186 | ) |  |  | 107 |  |  |  | 102 |  |  |  | - |  |  |  | (314 | ) |  |  | (7 | ) |  |  | 266 |  |  |  | - |
Balance at December 31, 2022 |  | $ | 655 |  |  | $ | 117 |  |  | $ | 3,158 |  |  | $ | 2,753 |  |  | $ | - |  |  | $ | 1,966 |  |  | $ | 5 |  |  | $ | 137 |  |  | $ | 8,791 |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for loss |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 636 |  |  | $ | - |  |  | $ | 18 |  |  | $ | - |  |  | $ | - |  |  | $ | 654 |
Collectively evaluated for loss |  |  | 655 |  |  |  | 117 |  |  |  | 3,158 |  |  |  | 2,117 |  |  |  | - |  |  |  | 1,948 |  |  |  | 5 |  |  |  | 137 |  |  |  | 8,137 |
Total |  | $ | 655 |  |  | $ | 117 |  |  | $ | 3,158 |  |  | $ | 2,753 |  |  | $ | - |  |  | $ | 1,966 |  |  | $ | 5 |  |  | $ | 137 |  |  | $ | 8,791 |
Loan balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for loss |  | $ | 326 |  |  | $ | 412 |  |  | $ | 1,224 |  |  | $ | 812 |  |  | $ | - |  |  | $ | 1,319 |  |  | $ | 36 |  |  | $ | - |  |  | $ | 4,129 |
Collectively evaluated for loss |  |  | 236,656 |  |  |  | 22,313 |  |  |  | 302,850 |  |  |  | 172,603 |  |  |  | 21 |  |  |  | 82,964 |  |  |  | 1,990 |  |  |  | 26,664 |  |  |  | 846,061 |
Total |  | $ | 236,982 |  |  | $ | 22,725 |  |  | $ | 304,074 |  |  | $ | 173,415 |  |  | $ | 21 |  |  | $ | 84,283 |  |  | $ | 2,026 |  |  | $ | 26,664 |  |  | $ | 850,190 |
(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 |
Balance |  | $ | 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 |
Balance |  | $ | 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 |
The Company’s impaired loans decreased $2.6 million from $6.7 million at December 31, 2021 to $4.1 million at December 31, 2022. The difference between the unpaid contractual principal and the impaired loan balance is a result of charge-offs recorded against impaired loans. The difference in the Company’s non-accrual loan balances and impaired loan balances at December 31, 2022 and December 31, 2021 was related to TDRs that are current and accruing interest, but still classified as impaired. Interest income recognized on a cash basis for impaired loans was immaterial during the years 2022, 2021 and 2020. The following tables present information on impaired loans: Schedule of Impaired Financing Receivables
(Dollars in thousands)
|  | As of December 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 loans |  | $ | 326 |  |  | $ | 326 |  |  | $ | 326 |  |  | $ | - |  |  | $ | - |  |  | $ | 357 |  |  | $ | 9 |
Construction and land loans |  |  | 843 |  |  |  | 412 |  |  |  | 412 |  |  |  | - |  |  |  | - |  |  |  | 243 |  |  |  | 10 |
Commercial real estate loans |  |  | 1,224 |  |  |  | 1,224 |  |  |  | 1,224 |  |  |  | - |  |  |  | - |  |  |  | 1,224 |  |  |  | 47 |
Commercial loans |  |  | 1,063 |  |  |  | 812 |  |  |  | 75 |  |  |  | 737 |  |  |  | 636 |  |  |  | 865 |  |  |  | 5 |
Agriculture loans |  |  | 1,402 |  |  |  | 1,319 |  |  |  | 1,301 |  |  |  | 18 |  |  |  | 18 |  |  |  | 1,433 |  |  |  | 64 |
Municipal loans |  |  | 36 |  |  |  | 36 |  |  |  | 36 |  |  |  | - |  |  |  | - |  |  |  | 36 |  |  |  | 1 |
Total impaired loans |  | $ | 4,894 |  |  | $ | 4,129 |  |  | $ | 3,374 |  |  | $ | 755 |  |  | $ | 654 |  |  | $ | 4,158 |  |  | $ | 136 |
|  | 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 |
The Company’s key credit quality indicator is a loan’s performance status, defined as accruing or non-accruing. Performing loans are considered to have a lower risk of loss. Non-accrual loans are those which the Company believes have a higher risk of loss. The accrual of interest on non-performing loans is discontinued at the time the loan is ninety days delinquent, unless the credit is well secured and in process of collection. Loans are placed on non-accrual or are charged off at an earlier date if collection of principal or interest is considered doubtful. There were no loans ninety days delinquent and accruing interest at December 31, 2022 or December 31, 2021. 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 December 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 |  | $ | 8 |  |  | $ | 72 |  |  | $ | - |  |  | $ | 80 |  |  | $ | 170 |  |  | $ | 250 |  |  | $ | 236,732 |
Construction and land loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 195 |  |  |  | 195 |  |  |  | 22,530 |
Commercial real estate loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,224 |  |  |  | 1,224 |  |  |  | 302,850 |
Commercial loans |  |  | - |  |  |  | 411 |  |  |  | - |  |  |  | 411 |  |  |  | 812 |  |  |  | 1,223 |  |  |  | 172,192 |
Paycheck protection program loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 21 |
Agriculture loans |  |  | - |  |  |  | 180 |  |  |  | - |  |  |  | 180 |  |  |  | 925 |  |  |  | 1,105 |  |  |  | 83,178 |
Municipal loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,026 |
Consumer loans |  |  | 67 |  |  |  | - |  |  |  | - |  |  |  | 67 |  |  |  | - |  |  |  | 67 |  |  |  | 26,597 |
Total |  | $ | 75 |  |  | $ | 663 |  |  | $ | - |  |  | $ | 738 |  |  | $ | 3,326 |  |  | $ | 4,064 |  |  | $ | 846,126 |
Percent of gross loans |  |  | 0.01 | % |  |  | 0.08 | % |  |  | 0.00 | % |  |  | 0.09 | % |  |  | 0.39 | % |  |  | 0.48 | % |  |  | 99.52 | %
|  | 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 | %
Under the original terms of the Company’s non-accrual loans, interest earned on such loans for the years 2022, 2021 and 2020, would have increased interest income by $137,000, $309,000 and $380,000, respectively. No interest income related to non-accrual loans was included in interest income for the years ended December 31, 2022, 2021 and 2020. The Company also categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a quarterly basis. Non-classified loans generally include those loans that are expected to be repaid in accordance with contractual loan terms. Classified loans are those that are assigned a special mention, substandard or doubtful risk rating using the following definitions: Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loans are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged. Loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Loans are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The following table provides information on the Company’s risk categories by loan class: Schedule of Troubled Debt Restructurings on Financing Receivables
|  | As of December 31, 2022 |  |  | As of December 31, 2021 |
(Dollars in thousands) |  | Nonclassified |  |  | Classified |  |  | Nonclassified |  |  | Classified |
One-to-four family residential real estate loans |  | $ | 236,663 |  |  | $ | 319 |  |  | $ | 165,299 |  |  | $ | 782 |
Construction and land loans |  |  | 22,530 |  |  |  | 195 |  |  |  | 26,963 |  |  |  | 681 |
Commercial real estate loans |  |  | 300,216 |  |  |  | 3,858 |  |  |  | 193,669 |  |  |  | 4,803 |
Commercial loans |  |  | 165,709 |  |  |  | 7,706 |  |  |  | 123,609 |  |  |  | 8,545 |
Paycheck protection program loans |  |  | 21 |  |  |  | - |  |  |  | 17,179 |  |  |  | - |
Agriculture loans |  |  | 83,358 |  |  |  | 925 |  |  |  | 91,036 |  |  |  | 3,231 |
Municipal loans |  |  | 2,026 |  |  |  | - |  |  |  | 2,050 |  |  |  | - |
Consumer loans |  |  | 26,664 |  |  |  | - |  |  |  | 24,541 |  |  |  | - |
Total |  | $ | 837,187 |  |  | $ | 13,003 |  |  | $ | 644,346 |  |  | $ | 18,042 |
Total gross loans |  | $ | 837,187 |  |  | $ | 13,003 |  |  | $ | 644,346 |  |  | $ | 18,042 |
At December 31, 2022, the Company had eight loan relationships consisting of 12 outstanding loans totaling $2.5 million that were classified as TDRs compared to 11 loan relationships consisting of 16 outstanding loans totaling $3.4 million that were classified as TDRs at December 31, 2021. During 2022, a $231,000 commercial loan was classified as a TDR after the loan was renewed with payments restructured to match the borrower’s cash flows. During 2022, commercial loans totaling $479,000, $32,000 and $7,000 paid off after being classified as TDRs in 2022, 2021 and 2020, respectively. Also during 2022, two construction and land loans totaling $599,000 were paid off. These loans were originally classified as TDRs in 2012. Additionally, the Company advanced funds on a construction and land loan which was originally classified as a TDR in 2012. The customer had paid off the balances on the construction loan during 2021, before borrowing again in 2022. The loan is still classified as a TDR with $431,000 of charged off principal remaining from the original amount of $708,000. An agriculture loan totaling $250,000 was also paid off in 2022 after being classified as a TDR in 2021. During 2021, a commercial loan relationship consisting of five loans was modified after originally being classified as a TDR in 2020. The borrower liquidated some of the collateral securing the loans and refinanced the remaining balance of $397,000 into one loan, which retained a TDR classification. A commercial loan totaling $32,000 was classified as a TDR during 2021 after the maturity of the loan was extended. The restructuring changed the payment terms to match the borrower’s cash flows. The Company had previously charged-off $100,000 of the loan due to a collateral shortfall. An agriculture loan totaling $250,000 was also classified as a TDR during 2021 after a new loan was originated to an existing classified loan relationship. The additional loan provided funds to stabilize the borrower’s operations through the fall harvest. All of the loans classified as TDRs were experiencing financial difficulties prior to the COVID-19 pandemic. An agriculture loan and two construction and land loans previously classified as TDRs in 2016 and 2012, respectively, were paid off during 2021. During 2020, the Company modified the payment terms on an agriculture loan totaling $156,000 and classified the restructuring as a TDR. The loans related to a $1.6 million loan relationship, consisting of two one-to-our family loans, one construction and land loan, two commercial real estate loans and one commercial loan, were classified as TDRs during 2020 after negotiating restructuring agreements with the borrowers. The restructuring included a charge-off of $50,000. The loans related to one commercial loan relationship, with five loans totaling $742,000, were classified as TDRs during 2020, after the payments were modified to interest only. All of the loans classified as TDRs were experiencing financial difficulties prior to the COVID-19 pandemic. An agriculture loan, a commercial real estate loan and a one-to-four family residential real estate loan previously classified as TDRs in 2017, 2015 and 2016, respectively, paid off during 2020. Subsequently, the Company evaluates each TDR individually and returns the loan to accrual status when a payment history is established after the restructuring and future payments are reasonably assured. There were no loans modified as TDRs for which there was a payment default within 12 months of modification as of December 31, 2022, 2021 and 2020. At December 31, 2022, there was $111,000 of commitments to lend additional funds on loans classified as TDRs. The Company did not record any charge-offs against loans classified as TDRs during 2022 and recorded a provision for loan loss of $152,000 against TDRs in 2022. The Company did not record any charge-offs against loans classified as TDRs during 2021 and recorded a credit provision for loan loss of $6,000 against TDRs during 2021. The Company did not record any charge-offs against loans classified as TDRs during 2020 and recorded a credit provision for loan loss of $1,000 against TDRs during 2020. The Company allocated $152,000 and $2,000 of the allowance for loan losses recorded against loans classified as TDRs at December 31, 2022 and 2021, respectively. The following table presents information on loans that were classified as TDRs: (Dollars in thousands) Schedule of Troubled Debt Restructurings on Financing Receivables
|  | As of December 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 |  |  | $ | - |  |  | $ | 156 |  |  |  | 2 |  |  | $ | - |  |  | $ | 161 |
Construction and land loans |  |  | 2 |  |  |  | 195 |  |  |  | 217 |  |  |  | 3 |  |  |  | 681 |  |  |  | 113 |
Commercial real estate loans |  |  | 2 |  |  |  | 1,224 |  |  |  | - |  |  |  | 2 |  |  |  | 1,224 |  |  |  | - |
Commercial loans |  |  | 2 |  |  |  | 264 |  |  |  | - |  |  |  | 4 |  |  |  | 33 |  |  |  | 436 |
Agriculture |  |  | 3 |  |  |  | - |  |  |  | 394 |  |  |  | 4 |  |  |  | - |  |  |  | 742 |
Municipal loans |  |  | 1 |  |  |  | - |  |  |  | 36 |  |  |  | 1 |  |  |  | - |  |  |  | 36 |
Total troubled debt restructurings |  |  | 12 |  |  | $ | 1,683 |  |  | $ | 803 |  |  |  | 16 |  |  | $ | 1,938 |  |  | $ | 1,488 |
As of December 31, 2022, all of the loan modifications and short-term forbearance and repayment plans in connection with the COVID-19 pandemic returned to contractual terms. The Company had loans and unfunded commitments to directors and officers, and to affiliated parties, at December 31, 2022 and 2021. A summary of such loans is as follows: Schedule of Loan to Directors Officers and Affiliated Parties
(Dollars in thousands) |  |  |
Balance at December 31, 2021 |  | $ | 9,937 |
New loans |  |  | 15,525 |
Repayments |  |  | (10,889 | )
Balance at December 31, 2022 |  | $ | 14,573 |

X
- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration