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Loans and Allowance for Credit Losses (Tables) | 12 Months Ended
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Dec. 31, 2023
Loans and Allowance for Credit Losses [Abstract] |
Schedule of Categories of Loans | The following tables present the categories of loans at December 31, 2023 and 2022:
|  | Total Loans |
($ in thousands) |  | 2023 |  |  | 2022 |
Commercial & industrial |  | $ | 126,716 |  |  | $ | 128,393 |
Commercial real estate - owner occupied |  |  | 126,717 |  |  |  | 110,929 |
Commercial real estate - nonowner occupied |  |  | 297,323 |  |  |  | 301,880 |
Agricultural |  |  | 65,659 |  |  |  | 64,505 |
Residential real estate |  |  | 318,123 |  |  |  | 291,368 |
Home equity line of credit (HELOC) |  |  | 47,845 |  |  |  | 45,056 |
Consumer |  |  | 17,829 |  |  |  | 19,944 |
Total loans |  |  | 1,000,212 |  |  |  | 962,075 |
Allowance for credit losses |  |  | (15,786 | ) |  |  | (13,818 | )
Loans, net |  | $ | 984,426 |  |  | $ | 948,257 |
Schedule of Loan Commitments, Unused Lines of Credit and Standby Letters of Credit | Listed below is a summary of loan commitments, unused lines of credit, and standby letters of credit as of December 31, 2023 and 2022.
($ in thousands) |  | 2023 |  |  | 2022 |
Loan commitments and unused lines of credit |  | $ | 201,605 |  |  | $ | 221,668 |
Standby letters of credit |  |  | 1,184 |  |  |  | 1,336 |
Totals |  | $ | 202,789 |  |  | $ | 223,004 |
Schedule of Activity Related to The Allowance for Credit Losses | The following table summarizes the activity related to the ACL for the twelve months ended December 31, 2023 under the CECL methodology.
($ in thousands) For the twelve months ended December 31, 2023 |  | Balance, beginning of period |  |  | Impact of Adopting ASC 326 |  |  | Chargeoffs |  |  | Recoveries |  |  | Provision for Credit Losses |  |  | Balance, end of period |
Commercial & industrial |  | $ | 1,663 |  |  | $ | 230 |  |  | $ | - |  |  | $ | - |  |  | $ | 110 |  |  | $ | 2,003 |
Commercial real estate - owner occupied |  |  | 1,696 |  |  |  | 54 |  |  |  | - |  |  |  | - |  |  |  | 202 |  |  |  | 1,952 |
Commercial real estate - nonowner occupied |  |  | 4,584 |  |  |  | 1,015 |  |  |  | - |  |  |  | - |  |  |  | 119 |  |  |  | 5,718 |
Agricultural |  |  | 611 |  |  |  | (194 | ) |  |  | - |  |  |  | - |  |  |  | 23 |  |  |  | 440 |
Residential real estate |  |  | 4,438 |  |  |  | 360 |  |  |  | (53 | ) |  |  | 1 |  |  |  | 190 |  |  |  | 4,936 |
HELOC |  |  | 547 |  |  |  | (76 | ) |  |  | - |  |  |  | - |  |  |  | 39 |  |  |  | 510 |
Consumer |  |  | 279 |  |  |  | (17 | ) |  |  | (65 | ) |  |  | 25 |  |  |  | 5 |  |  |  | 227 |
Total |  | $ | 13,818 |  |  | $ | 1,372 |  |  | $ | (118 | ) |  | $ | 26 |  |  | $ | 688 |  |  | $ | 15,786 |
($ in thousands) For the twelve months ended December 31, 2022 |  | Balance, beginning of period |  |  | Impact of Adopting ASC 326 |  |  | Chargeoffs |  |  | Recoveries |  |  | Provision for Credit Losses |  |  | Balance, end of period |
Commercial & industrial |  | $ | 1,890 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | (227 | ) |  | $ | 1,663 |
Commercial real estate - owner occupied |  |  | 2,564 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (868 | ) |  |  | 1,696 |
Commercial real estate - nonowner occupied |  |  | 4,217 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 367 |  |  |  | 4,584 |
Agricultural |  |  | 599 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 12 |  |  |  | 611 |
Residential real estate |  |  | 3,515 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 923 |  |  |  | 4,438 |
HELOC |  |  | 579 |  |  |  | - |  |  |  | (34 | ) |  |  | 47 |  |  |  | (45 | ) |  |  | 547 |
Consumer |  |  | 441 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (162 | ) |  |  | 279 |
Total |  | $ | 13,805 |  |  | $ | - |  |  | $ | (34 | ) |  | $ | 47 |  |  | $ | - |  |  | $ | 13,818 |
Schedue of Gross Chargeoffs | The following table presents gross chargeoffs for the year ended December 31, 2023 by loan category and origination year.
($ in thousands) |  | Term Loans by Year of Origination |  |  | Revolving |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Loans |  |  | Total |
Commercial & industrial |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Commercial real estate - owner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial real estate - nonowner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Residential real estate |  |  | - |  |  |  | - |  |  |  | 32 |  |  |  | 21 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 53 |
Home equity line of credit (HELOC) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Consumer |  |  | - |  |  |  | 12 |  |  |  | 8 |  |  |  | 11 |  |  |  | - |  |  |  | - |  |  |  | 34 |  |  |  | 65 |
|  | $ | - |  |  | $ | 12 |  |  | $ | 40 |  |  | $ | 32 |  |  | $ | - |  |  | $ | - |  |  | $ | 34 |  |  | $ | 118 |
Schedule of Presents an Analysis of Collateral-Dependent Loans | The following table presents an analysis of collateral-dependent loans of the Company as of December 31, 2023.
($ in thousands) |  | Collateral Type |  |  | Allocated |
December 31, 2023 |  | Real Estate |  |  | Other |  |  | Total |  |  | Allowance |
Commercial & industrial |  | $ | 604 |  |  | $ | - |  |  | $ | 604 |  |  | $ | 97 |
Commercial real estate - owner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial real estate - nonowner occupied |  |  | 284 |  |  |  | - |  |  |  | 284 |  |  |  | 40 |
Agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Residential real estate |  |  | 1,023 |  |  |  | - |  |  |  | 1,023 |  |  |  | 18 |
HELOC |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Consumer |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 1,911 |  |  | $ | - |  |  | $ | 1,911 |  |  | $ | 155 |
Schedule of Allowance for Loan Losses and Recorded Investment | The following table disaggregates the allowance for loan losses and recorded investment in loans by impairment methodology under the incurred loss methodology as of December 31, 2022.
December 31, 2022 |  | Commercial & industrial |  |  | Commercial real estate |  |  | Agricultural |  |  | Residential real estate |  |  | Consumer |  |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending allowance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 138 |  |  | $ | 2 |  |  | $ | 140 |
Collectively evaluated for impairment |  | $ | 1,663 |  |  | $ | 6,280 |  |  | $ | 611 |  |  | $ | 4,300 |  |  | $ | 824 |  |  | $ | 13,678 |
Totals |  | $ | 1,663 |  |  | $ | 6,280 |  |  | $ | 611 |  |  | $ | 4,438 |  |  | $ | 826 |  |  | $ | 13,818 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 204 |  |  | $ | 347 |  |  | $ | - |  |  | $ | 2,863 |  |  | $ | 114 |  |  | $ | 3,528 |
Collectively evaluated for impairment |  | $ | 128,189 |  |  | $ | 412,462 |  |  | $ | 64,505 |  |  | $ | 288,505 |  |  | $ | 64,886 |  |  | $ | 958,547 |
Totals |  | $ | 128,393 |  |  | $ | 412,809 |  |  | $ | 64,505 |  |  | $ | 291,368 |  |  | $ | 65,000 |  |  | $ | 962,075 |
Schedue of Credit Risk Profile of Company's Loan Portfolio Based on Rating Category | The following table presents loan balances by credit quality indicators by year of origination as of December 31, 2023.
($ in thousands) |  | Term Loans by Year of Origination |  |  | Revolving |  |  | Revolving Loans Converted |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Loans |  |  | to Term |  |  | Total |
Commercial & industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1 - 4) |  | $ | 17,239 |  |  | $ | 18,076 |  |  | $ | 19,143 |  |  | $ | 10,573 |  |  | $ | 7,449 |  |  | $ | 5,965 |  |  | $ | 45,831 |  |  | $ | 444 |  |  | $ | 124,720 |
Special Mention (5) |  |  | - |  |  |  | 731 |  |  |  | - |  |  |  | 64 |  |  |  | - |  |  |  | 140 |  |  |  | 201 |  |  |  | - |  |  |  | 1,136 |
Substandard (6) |  |  | - |  |  |  | 41 |  |  |  | - |  |  |  | - |  |  |  | 25 |  |  |  | 137 |  |  |  | - |  |  |  | 80 |  |  |  | 283 |
Doubtful (7) |  |  | 195 |  |  |  | - |  |  |  | 226 |  |  |  | - |  |  |  | 1 |  |  |  | 100 |  |  |  | 50 |  |  |  | 5 |  |  |  | 577 |
Loss (8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 17,434 |  |  | $ | 18,848 |  |  | $ | 19,369 |  |  | $ | 10,637 |  |  | $ | 7,475 |  |  | $ | 6,342 |  |  | $ | 46,082 |  |  | $ | 529 |  |  | $ | 126,716 |
Commercial real estate - owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1 - 4) |  | $ | 29,253 |  |  | $ | 21,427 |  |  | $ | 26,808 |  |  | $ | 12,931 |  |  | $ | 12,881 |  |  | $ | 20,409 |  |  | $ | 112 |  |  | $ | 173 |  |  | $ | 123,994 |
Special Mention (5) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,338 |  |  |  | 358 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,696 |
Substandard (6) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful (7) |  |  | - |  |  |  | - |  |  |  | 26 |  |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 27 |
Loss (8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 29,253 |  |  | $ | 21,427 |  |  | $ | 26,834 |  |  | $ | 15,269 |  |  | $ | 13,240 |  |  | $ | 20,409 |  |  | $ | 112 |  |  | $ | 173 |  |  | $ | 126,717 |
Commercial real estate - nonowner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1 - 4) |  | $ | 52,915 |  |  | $ | 67,285 |  |  | $ | 47,658 |  |  | $ | 46,364 |  |  | $ | 30,561 |  |  | $ | 47,895 |  |  | $ | 2,377 |  |  | $ | - |  |  | $ | 295,055 |
Special Mention (5) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 838 |  |  |  | 1,134 |  |  |  | - |  |  |  | - |  |  |  | 1,972 |
Substandard (6) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 154 |  |  |  | 18 |  |  |  | - |  |  |  | 172 |
Doubtful (7) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 124 |  |  |  | - |  |  |  | - |  |  |  | 124 |
Loss (8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 52,915 |  |  | $ | 67,285 |  |  | $ | 47,658 |  |  | $ | 46,364 |  |  | $ | 31,399 |  |  | $ | 49,307 |  |  | $ | 2,395 |  |  | $ | - |  |  | $ | 297,323 |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1 - 4) |  | $ | 9,496 |  |  | $ | 16,131 |  |  | $ | 12,940 |  |  | $ | 3,029 |  |  | $ | 1,859 |  |  | $ | 9,801 |  |  | $ | 12,403 |  |  | $ | - |  |  | $ | 65,659 |
Special Mention (5) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Substandard (6) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful (7) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Loss (8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 9,496 |  |  | $ | 16,131 |  |  | $ | 12,940 |  |  | $ | 3,029 |  |  | $ | 1,859 |  |  | $ | 9,801 |  |  | $ | 12,403 |  |  | $ | - |  |  | $ | 65,659 |
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1 - 4) |  | $ | 53,013 |  |  | $ | 110,531 |  |  | $ | 85,075 |  |  | $ | 31,558 |  |  | $ | 10,425 |  |  | $ | 22,564 |  |  | $ | 1,816 |  |  | $ | 1,300 |  |  | $ | 316,282 |
Special Mention (5) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Substandard (6) |  |  | - |  |  |  | - |  |  |  | 361 |  |  |  | 54 |  |  |  | 485 |  |  |  | 920 |  |  |  | - |  |  |  | - |  |  |  | 1,820 |
Doubtful (7) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 21 |  |  |  | - |  |  |  | - |  |  |  | 21 |
Loss (8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 53,013 |  |  | $ | 110,531 |  |  | $ | 85,436 |  |  | $ | 31,612 |  |  | $ | 10,910 |  |  | $ | 23,505 |  |  | $ | 1,816 |  |  | $ | 1,300 |  |  | $ | 318,123 |
Home equity line of credit (HELOC) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1 - 4) |  | $ | - |  |  | $ | - |  |  | $ | 46 |  |  | $ | 18 |  |  | $ | 85 |  |  | $ | 94 |  |  | $ | 40,932 |  |  | $ | 6,492 |  |  | $ | 47,667 |
Special Mention (5) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 59 |  |  |  | 20 |  |  |  | 99 |  |  |  | 178 |
Substandard (6) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful (7) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Loss (8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | - |  |  | $ | - |  |  | $ | 46 |  |  | $ | 18 |  |  | $ | 85 |  |  | $ | 153 |  |  | $ | 40,952 |  |  | $ | 6,591 |  |  | $ | 47,845 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1 - 4) |  | $ | 3,296 |  |  | $ | 5,142 |  |  | $ | 1,429 |  |  | $ | 740 |  |  | $ | 221 |  |  | $ | 128 |  |  | $ | 6,863 |  |  | $ | - |  |  | $ | 17,819 |
Special Mention (5) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |
Substandard (6) |  |  | - |  |  |  | 9 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9 |
Doubtful (7) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Loss (8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 3,296 |  |  | $ | 5,151 |  |  | $ | 1,429 |  |  | $ | 741 |  |  | $ | 221 |  |  | $ | 128 |  |  | $ | 6,863 |  |  | $ | - |  |  | $ | 17,829 |
Total Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1 - 4) |  | $ | 165,212 |  |  | $ | 238,592 |  |  | $ | 193,099 |  |  | $ | 105,213 |  |  | $ | 63,481 |  |  | $ | 106,856 |  |  | $ | 110,334 |  |  | $ | 8,409 |  |  | $ | 991,196 |
Special Mention (5) |  |  | - |  |  |  | 731 |  |  |  | - |  |  |  | 2,403 |  |  |  | 1,196 |  |  |  | 1,333 |  |  |  | 221 |  |  |  | 99 |  |  |  | 5,983 |
Substandard (6) |  |  | - |  |  |  | 50 |  |  |  | 361 |  |  |  | 54 |  |  |  | 510 |  |  |  | 1,211 |  |  |  | 18 |  |  |  | 80 |  |  |  | 2,284 |
Doubtful (7) |  |  | 195 |  |  |  | - |  |  |  | 252 |  |  |  | - |  |  |  | 2 |  |  |  | 245 |  |  |  | 50 |  |  |  | 5 |  |  |  | 749 |
Loss (8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Loans |  | $ | 165,407 |  |  | $ | 239,373 |  |  | $ | 193,712 |  |  | $ | 107,670 |  |  | $ | 65,189 |  |  | $ | 109,645 |  |  | $ | 110,623 |  |  | $ | 8,593 |  |  | $ | 1,000,212 |
Schedule of Credit Quality Indicators and Loan Categories | The following table presents loan balances by credit quality indicators and loan categories as of December 31, 2022.
($ in thousands) December 31, 2022 |  | Commercial & industrial |  |  | Commercial real estate - owner occupied |  |  | Commercial real estate - nonowner occupied |  |  | Agricultural |  |  | Residential real estate |  |  | HELOC |  |  | Consumer |  |  | Total |
Pass (1 - 4) |  | $ | 127,727 |  |  | $ | 107,999 |  |  | $ | 296,611 |  |  | $ | 64,505 |  |  | $ | 288,028 |  |  | $ | 44,746 |  |  | $ | 19,915 |  |  | $ | 949,531 |
Special Mention (5) |  |  | 394 |  |  |  | 2,930 |  |  |  | 4,899 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 8,223 |
Substandard (6) |  |  | 158 |  |  |  | - |  |  |  | 160 |  |  |  | - |  |  |  | 3,316 |  |  |  | 310 |  |  |  | 29 |  |  |  | 3,973 |
Doubtful (7) |  |  | 114 |  |  |  | - |  |  |  | 210 |  |  |  | - |  |  |  | 24 |  |  |  | - |  |  |  | - |  |  |  | 348 |
Loss (8) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Loans |  | $ | 128,393 |  |  | $ | 110,929 |  |  | $ | 301,880 |  |  | $ | 64,505 |  |  | $ | 291,368 |  |  | $ | 45,056 |  |  | $ | 19,944 |  |  | $ | 962,075 |
Schedule of Loan Portfolio Aging Analysis | The following tables present the Company’s loan portfolio aging analysis as of December 31, 2023 and 2022:
($ in thousands) |  | 30-59 Days |  |  | 60-89 Days |  |  | Greater Than 90 Days |  |  | Total Past |  |  |  |  |  |  |
December 31, 2023 |  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Due |  |  | Current |  |  | Total Loans |
Commercial & industrial |  | $ | 26 |  |  | $ | - |  |  | $ | 658 |  |  | $ | 684 |  |  | $ | 126,032 |  |  | $ | 126,716 |
Commercial real estate - owner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 126,717 |  |  |  | 126,717 |
Commercial real estate - nonowner occupied |  |  | - |  |  |  | - |  |  |  | 29 |  |  |  | 29 |  |  |  | 297,294 |  |  |  | 297,323 |
Agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 65,659 |  |  |  | 65,659 |
Residential real estate |  |  | - |  |  |  | 222 |  |  |  | 395 |  |  |  | 617 |  |  |  | 317,506 |  |  |  | 318,123 |
HELOC |  |  | - |  |  |  | 8 |  |  |  | 67 |  |  |  | 75 |  |  |  | 47,770 |  |  |  | 47,845 |
Consumer |  |  | 88 |  |  |  | 33 |  |  |  | 1 |  |  |  | 122 |  |  |  | 17,707 |  |  |  | 17,829 |
Total Loans |  | $ | 114 |  |  | $ | 263 |  |  | $ | 1,150 |  |  | $ | 1,527 |  |  | $ | 998,685 |  |  | $ | 1,000,212 |
|  | 30-59 Days |  |  | 60-89 Days |  |  | Greater Than 90 Days |  |  | Total Past |  |  |  |  |  |  |
December 31, 2022 |  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Due |  |  | Current |  |  | Total Loans |
Commercial & industrial |  | $ | 23 |  |  | $ | 108 |  |  | $ | 114 |  |  | $ | 245 |  |  | $ | 128,148 |  |  | $ | 128,393 |
Commercial real estate - owner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 110,929 |  |  |  | 110,929 |
Commercial real estate - nonowner occupied |  |  | 114 |  |  |  | - |  |  |  | 32 |  |  |  | 146 |  |  |  | 301,734 |  |  |  | 301,880 |
Agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 64,505 |  |  |  | 64,505 |
Residential real estate |  |  | 98 |  |  |  | 411 |  |  |  | 1,287 |  |  |  | 1,796 |  |  |  | 289,572 |  |  |  | 291,368 |
HELOC |  |  | 98 |  |  |  | 24 |  |  |  | 138 |  |  |  | 260 |  |  |  | 44,796 |  |  |  | 45,056 |
Consumer |  |  | 61 |  |  |  | 26 |  |  |  | 22 |  |  |  | 109 |  |  |  | 19,835 |  |  |  | 19,944 |
Total Loans |  | $ | 394 |  |  | $ | 569 |  |  | $ | 1,593 |  |  | $ | 2,556 |  |  | $ | 959,519 |  |  | $ | 962,075 |
Schedule of Categories of Nonaccrual Loans | The categories of nonaccrual loans as of December 31, 2023 and December 31, 2022 are presented in the following table.
|  | 2023 |  |  | 2022 |
($ in thousands) |  | Nonaccrual loans with no allowance |  |  | Nonaccrual loans with an allowance |  |  | Total nonaccrual loans |  |  | Total nonaccrual loans |
Commercial & industrial |  | $ | 651 |  |  | $ | 97 |  |  | $ | 748 |  |  | $ | 114 |
Commercial real estate - owner occupied |  |  | 26 |  |  |  | - |  |  |  | 26 |  |  |  | - |
Commercial real estate - nonowner occupied |  |  | 141 |  |  |  | - |  |  |  | 141 |  |  |  | 210 |
Agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Residential real estate |  |  | 1,694 |  |  |  | 18 |  |  |  | 1,712 |  |  |  | 3,020 |
Home equity line of credit (HELOC) |  |  | 180 |  |  |  | - |  |  |  | 180 |  |  |  | 310 |
Consumer |  |  | 11 |  |  |  | - |  |  |  | 11 |  |  |  | 28 |
Total loans |  | $ | 2,703 |  |  | $ | 115 |  |  | $ | 2,818 |  |  | $ | 3,682 |
Schedule of Presents an Analysis of Collateral-Dependent Loans | The following table presents impaired loan activity for the twelve months ended December 31, 2022:
($ in thousands) |  | Recorded |  |  | Unpaid Principal |  |  | Related |  |  | Average Recorded |  |  | Interest Income |
Twelve Months Ended December 31, 2022 |  | Investment |  |  | Balance |  |  | Allowance |  |  | Investment |  |  | Recognized |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & industrial |  | $ | 204 |  |  | $ | 627 |  |  | $ | - |  |  | $ | 650 |  |  | $ | 34 |
Commercial real estate - owner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial real estate - nonowner occupied |  |  | 347 |  |  |  | 825 |  |  |  | - |  |  |  | 1,350 |  |  |  | 94 |
Agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Residential real estate |  |  | 1,491 |  |  |  | 1,558 |  |  |  | - |  |  |  | 1,793 |  |  |  | 65 |
HELOC |  |  | 68 |  |  |  | 68 |  |  |  |  |  |  |  | 85 |  |  |  | 4 |
Consumer |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
With a specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & industrial |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial real estate - owner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial real estate - nonowner occupied |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Agricultural |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Residential real estate |  |  | 1,372 |  |  |  | 1,372 |  |  |  | 138 |  |  |  | 1,424 |  |  |  | 43 |
HELOC |  |  | 46 |  |  |  | 46 |  |  |  | 2 |  |  |  | 51 |  |  |  | 2 |
Consumer |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Totals: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & industrial |  | $ | 204 |  |  | $ | 627 |  |  | $ | - |  |  | $ | 650 |  |  | $ | 34 |
Commercial real estate - owner occupied |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Commercial real estate - nonowner occupied |  | $ | 347 |  |  | $ | 825 |  |  | $ | - |  |  | $ | 1,350 |  |  | $ | 94 |
Agricultural |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Residential real estate |  | $ | 2,863 |  |  | $ | 2,930 |  |  | $ | 138 |  |  | $ | 3,217 |  |  | $ | 108 |
HELOC |  | $ | 114 |  |  | $ | 114 |  |  | $ | 2 |  |  | $ | 136 |  |  | $ | 6 |
Consumer |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Schedule of Credit Losses for Unfunded Loan Commitments | The following table presents the balance and activity in the ACL for unfunded loan commitments for the twelve months ended December 31, 2023 and 2022.
($ in thousands) |  | 2023 |  |  | 2022 |
Balance, beginning of period |  | $ | - |  |  | $ | - |
Adjustment for adoption of ASU 2016-13 |  |  | 1,149 |  |  |  | - |
Provision for unfunded commitments |  |  | (373 | ) |  |  | - |
Balance, end of period |  | $ | 776 |  |  | $ | - |
Schedule of Loans to Directors | Loans to directors and their related interests, including loans to companies for which directors are principal owners and executive officers are presented in the following table at December 31:
($ in thousands) |  | 2023 |  |  | 2022 |
Balance at beginning of period |  | $ | 521 |  |  | $ | 521 |
Effect of change in compostioin of directors and executive officers |  |  | - |  |  |  | 112 |
New Term Loans |  |  | - |  |  |  | - |
Repayment of term loans |  |  | (144 | ) |  |  | (53 | )
Changes in balances of revolving lines of credit |  |  | 58 |  |  |  | (59 | )
Balance at end of period |  | $ | 435 |  |  | $ | 521 |

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