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Loans Receivable and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2022

Loans Receivable and Allowance for Loan Losses [Abstract]



	March 31, 2022				December 31, 2021
Real Estate Loans:
Residential	$	276,592	20.2	%	$	273,040	20.1	%
Commercial		641,581	46.7			628,724	46.4
Agricultural		64,153	4.7			61,925	4.6
Construction		19,407	1.4			21,990	1.6
Commercial loans		183,212	13.3			186,031	13.7
Other agricultural loans		36,729	2.7			37,930	2.8
Consumer loans to individuals		150,818	11.0			146,400	10.8
Total loans		1,372,492	100.0	%		1,356,040	100.0	%
Deferred fees, net		(847)				(1,109)
Total loans receivable		1,371,645				1,354,931
Allowance for loan losses		(16,660)				(16,442)
Net loans receivable	$	1,354,985			$	1,338,489

Information Regarding Loans Acquired and Accounted for in Accordance With ASC 310-30



	March 31, 2022		December 31, 2021
Outstanding Balance	$	10,239	$	12,862
Carrying Amount	$	6,814	$	8,304

Changes in the Accretable Yield for Purchased Credit-impaired Loans



	2022		2021
Balance at beginning of period	$	1,884	$	1,365
Additions		—		—
Accretion		(258)		(176)
Reclassification and other		(386)		43
Balance at end of period	$	1,240	$	1,232

Components Of Purchase Accounting Adjustments Related To Purchased Credit-impaired Loans Acquired



(In Thousands)	July 7, 2020
Contractually required principal and interest	$	15,410
Non-accretable discount		(5,213)
Expected cash flows		10,197
Accretable discount		(1,724)
Estimated fair value	$	8,473

Summary of Amount of Loans in Each Category that were Individually and Collectively Evaluated for Impairment



	Real Estate Loans
									Commercial			Other	Consumer
	Residential		Commercial			Agricultural	Construction		Loans			Agricultural	Loans		Total
March 31, 2022	(In thousands)
Individually evaluated for impairment	$	—	$	1,643	$	—	$	—	$	16	$	—	$	—	$	1,659
Loans acquired with deteriorated credit quality		669		2,744		1,925		—		—		1,476		—		6,814
Collectively evaluated for impairment		275,923		637,194		62,228		19,407		183,196		35,253		150,818		1,364,019
Total Loans	$	276,592	$	641,581	$	64,153	$	19,407	$	183,212	$	36,729	$	150,818	$	1,372,492



	Real Estate Loans
									Commercial			Other	Consumer
	Residential		Commercial			Agricultural	Construction		Loans			Agricultural	Loans		Total
	(In thousands)
December 31, 2021
Individually evaluated for impairment	$	-	$	1,658	$	—	$	-	$	16	$	—	$	-	$	1,674
Loans acquired with deteriorated credit quality		784		3,285		1,918		-		198		2,119		-		8,304
Collectively evaluated for impairment		272,256		623,781		60,007		21,990		185,817		35,811		146,400		1,346,062
Total Loans	$	273,040	$	628,724	$	61,925	$	21,990	$	186,031	$	37,930	$	146,400	$	1,356,040

Impaired Loans and Related Interest Income by Loan Portfolio Class

The following table includes the recorded investment and unpaid principal balances for impaired loans with the associated allowance amount, if applicable.



			Unpaid
	Recorded		Principal		Associated
	Investment		Balance		Allowance
March 31, 2022				(in thousands)
With no related allowance recorded:
Real Estate Loans:
Commercial	$	1,643	$	1,643	$	—
Commercial Loans		16		16		—
Subtotal	$	1,659	$	1,659	$	—
Total:
Real Estate Loans:
Commercial	$	1,643	$	1,643	$	—
Commercial Loans		16		16		—
Total Impaired Loans	$	1,659	$	1,659	$	—



			Unpaid
	Recorded		Principal		Associated
	Investment		Balance		Allowance
December 31, 2021				(in thousands)
With no related allowance recorded:
Real Estate Loans:
Commercial	$	141	$	141	$	—
Commercial Loans		16		16		—
Subtotal		157		157		—
With an allowance recorded:
Real Estate Loans
Commercial		1,517		1,517		272
Subtotal		1,517		1,517		272
Total:
Real Estate Loans:
Commercial		1,658		1,658		272
Commercial Loans		16		16		—
Total Impaired Loans	$	1,674	$	1,674	$	272

The following table presents the average recorded investment in impaired loans and the related amount of interest income recognized during the three-month periods ended March 31, 2022 and 2021, respectively (in thousands):



	Average Recorded				Interest Income
	Investment				Recognized
	2022		2021		2022		2021
Real Estate Loans:
Commercial	$	1,650	$	2,566	$	17	$	1
Commercial Loans		16		122		—		—
Total	$	1,666	$	2,688	$	17	$	1

Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating



			Special				Doubtful
	Pass		Mention		Substandard		or Loss		Total
March 31, 2022
Commercial real estate loans	$	635,807	$	1,093	$	4,681	$	—	$	641,581
Real estate - agricultural		62,413		—		1,740		—		64,153
Commercial loans		182,927		195		90		—		183,212
Other agricultural loans		35,101		207		1,421		—		36,729
Total	$	916,248	$	1,495	$	7,932	$	—	$	925,675



			Special				Doubtful
	Pass		Mention		Substandard		or Loss		Total
December 31, 2021
Commercial real estate loans	$	618,541	$	5,146	$	4,765	$	272	$	628,724
Real estate - agricultural		60,193		—		1,732		—		61,925
Commercial loans		185,729		199		103		—		186,031
Other agricultural loans		35,573		210		2,147		—		37,930
Total	$	900,036	$	5,555	$	8,747	$	272	$	914,610

For residential real estate loans, construction loans and consumer loans, the Company evaluates credit quality based on the performance of the individual credits. The following table presents the recorded investment in the loan classes based on payment activity as of March 31, 2022 and December 31, 2021 (in thousands):



	Performing		Nonperforming		Total
March 31, 2022
Residential real estate loans	$	276,132	$	460	$	276,592
Construction		19,407		—		19,407
Consumer loans to individuals		150,687		131		150,818
Total	$	446,226	$	591	$	446,817



	Performing		Nonperforming		Total
December 31, 2021
Residential real estate loans	$	272,571	$	469	$	273,040
Construction		21,990		—		21,990
Consumer loans to individuals		146,345		55		146,400
Total	$	440,906	$	524	$	441,430

Loan Portfolio Summarized by the Past Due Status



	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due and still accruing		Nonaccrual		Total Past Due and Non-Accrual		Purchased Credit-Impaired		Total Loans
March 31, 2022
Real Estate loans
Residential	$	275,081	$	242	$	140	$	-	$	460	$	842	$	669	$	276,592
Commercial		638,502		194		40		-		101		335		2,744		641,581
Agricultural		62,228		-		-		-		-		-		1,925		64,153
Construction		19,407		-		-		-		-		-		-		19,407
Commercial loans		183,122		74		-		-		16		90		-		183,212
Other agricultural loans		35,163		90				-		-		90		1,476		36,729
Consumer loans		150,451		167		69		-		131		367		-		150,818
Total	$	1,363,954	$	767	$	249	$	-	$	708	$	1,724	$	6,814	$	1,372,492



	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due and still accruing		Nonaccrual		Total Past Due and Non-Accrual			Purchased Credit-Impaired		Total Loans
December 31, 2021
Real Estate loans
Residential	$	271,622	$	155	$	10	$	-	$	469	$	634	-	$	784	$	273,040
Commercial		625,336		-		-		-		103		103	-		3,285		628,724
Agricultural		59,982		25		-				-		25			1,918		61,925
Construction		21,990		-		-		-		-		-	-		-		21,990
Commercial loans		185,801		3		13		91		16		32	-		198		186,031
Other agricultural loans		35,811		-		-				-		-			2,119		37,930
Consumer loans		145,986		248		111		-		55		414	-		-		146,400
Total	$	1,346,528	$	431	$	134	$	91	$	643	$	1,208	-	$	8,304	$	1,356,040

Allowance for Loan Losses and Recorded Investment in Financing Receivables


(In thousands)	Residential Real Estate		Commercial Real Estate			Agricultural		Construction	Commercial			Other Agricultural	Consumer		Total
Beginning balance, December 31, 2021	$	2,175	$	10,878	$	-	$	133	$	1,490	$	-	$	1,766	$	16,442
Charge Offs		(115)		-		-		-		(15)		-		(52)		(182)
Recoveries		2		74		-		-		9		-		15		100
Provision for loan losses		264		(665)		504		1		11		292		(107)		300
Ending balance, March 31, 2022	$	2,326	$	10,287	$	504	$	134	$	1,495	$	292	$	1,622	$	16,660
Ending balance individually evaluated ‎for impairment	$	-	$	1,643	$	-	$	-	$	16	$	-	$	-	$	1,659
Ending balance collectively evaluated ‎for impairment	$	2,326	$	8,644	$	504	$	134	$	1,479	$	292	$	1,622	$	15,001



(In thousands)	Residential Real Estate		Commercial Real Estate			Agricultural		Construction	Commercial			Other Agricultural	Consumer		Total
Beginning balance, December 31, 2020	$	1,960	$	8,004	$	-	$	150	$	1,360	$	-	$	1,676	$	13,150
Charge Offs		(5)		-		-		-		(60)		-		(103)		(168)
Recoveries		2		4		-		-		8		-		13		27
Provision for loan losses		167		1,076		-		(28)		97		-		188		1,500
Ending balance, March 31, 2021	$	2,124	$	9,084	$	—	$	122	$	1,405	$	—	$	1,774	$	14,509
Ending balance individually evaluated ‎for impairment	$	-	$	-	$	-	$	-	$	38	$	-	$	—	$	38
Ending balance collectively evaluated ‎for impairment	$	2,124	$	9,084	$	—	$	122	$	1,367	$	—	$	1,774	$	14,471