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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Schedule of Purchase Accounting Discounts on Loans from an Adjustment to Amortized Cost

The following table illustrates the impact of ASC 326:

 Schedule of Purchase Accounting Discounts on Loans from an Adjustment to Amortized Cost

		January 1, 2023
(Dollars in thousands)		As reported under ASC 326				Pre-ASC 326 adoption				Impact of ASC 326 adoption
Allowance for credit losses:
Held-to-maturity investment securities		$	72			$	-			$	72
One-to-four family residential real estate loans		$	1,677			$	655			$	1,022
Construction and land loans			166				117				49
Commercial real estate loans			4,221				3,158				1,063
Commercial loans			2,898				2,753				145
Paycheck protection program loans			-				-				-
Agriculture loans			1,142				1,966				(824	)
Municipal loans			16				5				11
Consumer loans			194				137				57
Total allowance for credit losses for loans		$	10,314			$	8,791			$	1,523
Unfunded loan commitments		$	170			$	170			$	-

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- References

No definition available.

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482989/270-10-45-12

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482989/270-10-45-13

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