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Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Schedule of Loans

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

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 

		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

Schedule of Impaired Financing Receivables

 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

Schedule of Past Due Financing Receivables

 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	%

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

		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

Schedule of Troubled Debt Restructurings on Financing Receivables

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

Schedule of Loan to Directors Officers and Affiliated Parties

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

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