XML 50 R35.htm IDEA: XBRL DOCUMENT v3.20.4
Loans (Tables)
 12 Months Ended
Dec. 31, 2020
Loans [Abstract]  
Loan Portfolio, by Loan Class
The composition of the Company’s loan portfolio, by loan class, at December 31, is as follows:

  
2020
    
2019
  
Commercial
  
$
255,926
    
$
106,140
  
Commercial Real Estate
    
454,053
      
451,774
  
Agriculture
    
95,048
      
115,751
  
Residential Mortgage
    
64,497
      
64,943
  
Residential Construction
    
4,223
      
15,212
  
Consumer
    
19,467
      
26,825
  
                 
     
893,214
      
780,645
  
Allowance for loan losses
    
(15,416
)
    
(12,356
)
Net deferred origination fees and costs
    
(1,968
)
    
584
  
                 
Loans, net
  
$
875,830
    
$
768,873
  
Loans by Delinquency and Non-Accrual Status
The Company’s loans by delinquency and non-accrual status, as of December 31, 2020 and 2019, was as follows:

  
Current &
Accruing
    
30-59 Days
Past Due &
Accruing
    
60-89 Days
Past Due &
Accruing
    
90 Days or
more Past Due
& Accruing
    
Nonaccrual
    
Total Loans
  
December 31, 2020
                                    
Commercial
  
$
255,563
    
$
—
    
$
—
    
$
—
    
$
363
    
$
255,926
  
Commercial Real Estate
    
449,178
      
—
      
—
      
—
      
4,875
      
454,053
  
Agriculture
    
85,918
      
—
      
—
      
—
      
9,130
      
95,048
  
Residential Mortgage
    
64,344
      
—
      
—
      
—
      
153
      
64,497
  
Residential Construction
    
4,223
      
—
      
—
      
—
      
—
      
4,223
  
Consumer
    
18,777
      
—
      
—
      
—
      
690
      
19,467
  
Total
  
$
878,003
    
$
—
    
$
—
    
$
—
    
$
15,211
    
$
893,214
  
                                                 
December 31, 2019
                                                
Commercial
  
$
105,741
    
$
—
    
$
133
    
$
—
    
$
266
    
$
106,140
  
Commercial Real Estate
    
451,215
      
—
      
93
      
—
      
466
      
451,774
  
Agriculture
    
115,751
      
—
      
—
      
—
      
—
      
115,751
  
Residential Mortgage
    
64,771
      
—
      
—
      
—
      
172
      
64,943
  
Residential Construction
    
15,212
      
—
      
—
      
—
      
—
      
15,212
  
Consumer
    
26,472
      
100
      
—
      
—
      
253
      
26,825
  
Total
  
$
779,162
    
$
100
    
$
226
    
$
—
    
$
1,157
    
$
780,645
  
Impaired Loans, Segregated by Loan Class
Impaired loans, segregated by loan class, as of December 31, 2020 and 2019, were as follows:

  
Unpaid
Contractual
Principal
Balance
    
Recorded
Investment
with no
Allowance
    
Recorded
Investment
with
Allowance
    
Total
Recorded
Investment
    
Related
Allowance
  
December 31, 2020
                              
Commercial
  
$
1,087
    
$
363
    
$
661
    
$
1,024
    
$
11
  
Commercial Real Estate
    
5,146
      
4,875
      
—
      
4,875
      
—
  
Agriculture
    
9,189
      
4,165
      
4,965
      
9,130
      
2,093
  
Residential Mortgage
    
1,046
      
153
      
883
      
1,036
      
159
  
Residential Construction
    
684
      
—
      
652
      
652
      
83
  
Consumer
    
773
      
690
      
64
      
754
      
1
  
Total
  
$
17,925
    
$
10,246
    
$
7,225
    
$
17,471
    
$
2,347
  
                                         
December 31, 2019
                                        
Commercial
  
$
1,694
    
$
266
    
$
1,385
    
$
1,651
    
$
26
  
Commercial Real Estate
    
715
      
466
      
250
      
716
      
19
  
Agriculture
    
—
      
—
      
—
      
—
      
—
  
Residential Mortgage
    
1,152
      
172
      
912
      
1,084
      
171
  
Residential Construction
    
724
      
—
      
691
      
691
      
56
  
Consumer
    
340
      
253
      
80
      
333
      
1
  
Total
  
$
4,625
    
$
1,157
    
$
3,318
    
$
4,475
    
$
273
  
Average Recorded Investment and Interest Income in Impaired Loans Recognized Using Accrual Basis Method of Accounting
The average recorded investment in impaired loans and the amount of interest income recognized on impaired loans during the years ended December 31, 2020, 2019, and 2018, was as follows:

  
December 31, 2020
    
December 31, 2019
    
December 31, 2018
  
   
Average
Recorded
Investment
    
Interest
Income
Recognized
    
Average
Recorded
Investment
    
Interest
Income
Recognized
    
Average
Recorded
Investment
    
Interest
Income
Recognized
  
Commercial
  
$
1,344
    
$
60
    
$
2,184
    
$
128
    
$
2,986
    
$
181
  
Commercial Real Estate
    
3,489
      
58
      
636
      
182
      
1,681
      
15
  
Agriculture
    
5,481
      
—
      
1,922
      
240
      
966
      
—
  
Residential Mortgage
    
1,062
      
30
      
1,219
      
72
      
1,834
      
72
  
Residential Construction
    
671
      
34
      
681
      
35
      
612
      
28
  
Consumer
    
630
      
17
      
366
      
31
      
439
      
27
  
Total
  
$
12,677
    
$
199
    
$
7,008
    
$
688
    
$
8,518
    
$
323
  
Loans Modified as TDR's
Loans modified as troubled debt restructurings during the years ended December 31, 2019 and 2018, were as follows:

  
Year Ended December 31, 2019
  
   
Number of
Contracts
    
Pre-modification
outstanding
recorded
investment
    
Post-
modification
outstanding
recorded
investment
  
Residential Construction
    
2
    
$
189
    
$
189
  
Total
    
2
    
$
189
    
$
189
  

 
Year Ended December 31, 2018
  
   
Number of
Contracts
    
Pre-modification
outstanding
recorded
investment
    
Post-
modification
outstanding
recorded
investment
  
Consumer
    
1
    
$
191
    
$
191
  
Total
    
1
    
$
191
    
$
191
  
Risk Ratings by Loan Class
The following table presents the risk ratings by loan class as of December 31, 2020 and 2019.

  
Pass
    
Special
Mention
    
Substandard
    
Doubtful
    
Loss
    
Total
  
December 31, 2020
                                    
Commercial
  
$
244,327
    
$
10,731
    
$
868
    
$
—
    
$
—
    
$
255,926
  
Commercial Real Estate
    
431,381
      
9,255
      
13,417
      
—
      
—
      
454,053
  
Agriculture
    
83,493
      
—
      
11,555
      
—
      
—
      
95,048
  
Residential Mortgage
    
64,018
      
—
      
479
      
—
      
—
      
64,497
  
Residential Construction
    
4,223
      
—
      
—
      
—
      
—
      
4,223
  
Consumer
    
18,697
      
—
      
770
      
—
      
—
      
19,467
  
Total
  
$
846,139
    
$
19,986
    
$
27,089
    
$
—
    
$
—
    
$
893,214
  
                                                 
December 31, 2019
                                                
Commercial
  
$
104,944
    
$
428
    
$
768
    
$
—
    
$
—
    
$
106,140
  
Commercial Real Estate
    
427,991
      
17,739
      
6,044
      
—
      
—
      
451,774
  
Agriculture
    
105,573
      
7,823
      
2,355
      
—
      
—
      
115,751
  
Residential Mortgage
    
64,596
      
—
      
347
      
—
      
—
      
64,943
  
Residential Construction
    
15,212
      
—
      
—
      
—
      
—
      
15,212
  
Consumer
    
25,933
      
500
      
392
      
—
      
—
      
26,825
  
Total
  
$
744,249
    
$
26,490
    
$
9,906
    
$
—
    
$
—
    
$
780,645
  
Allowance for Loan Losses
The following table details activity in the allowance for loan losses by loan category for the years ended December 31, 2020, 2019 and 2018.

  
Commercial
    
Commercial
Real Estate
    
Agriculture
    
Residential
Mortgage
    
Residential
Construction
    
Consumer
    
Unallocated
    
Total
  
Balance as of December 31, 2019
  
$
2,354
    
$
6,846
    
$
2,054
    
$
466
    
$
201
    
$
236
    
$
199
    
$
12,356
  
Provision for loan losses
    
(91
)
    
1,069
      
1,780
      
169
      
(73
)
    
(43
)
    
239
      
3,050
  
                                                                 
Charge-offs
    
(212
)
    
—
      
—
      
—
      
—
      
(15
)
    
—
      
(227
)
Recoveries
    
201
      
—
      
—
      
—
      
—
      
36
      
—
      
237
  
Net charge-offs
    
(11
)
    
—
      
—
      
—
      
—
      
21
      
—
      
10
  
Ending Balance
    
2,252
      
7,915
      
3,834
      
635
      
128
      
214
      
438
      
15,416
  
Period-end amount allocated to:
                                                                
Loans individually evaluated for impairment
    
11
      
—
      
2,093
      
159
      
83
      
1
      
—
      
2,347
  
Loans collectively evaluated for impairment
    
2,241
      
7,915
      
1,741
      
476
      
45
      
213
      
438
      
13,069
  
Balance as of December 31, 2020
  
$
2,252
    
$
7,915
    
$
3,834
    
$
635
    
$
128
    
$
214
    
$
438
    
$
15,416
  

 
Commercial
    
Commercial
Real Estate
    
Agriculture
    
Residential
Mortgage
    
Residential
Construction
    
Consumer
    
Unallocated
    
Total
  
Balance as of December 31, 2018
  
$
3,198
    
$
5,890
    
$
1,632
    
$
643
    
$
318
    
$
279
    
$
862
    
$
12,822
  
Provision for loan losses
    
(415
)
    
956
      
520
      
(251
)
    
(138
)
    
(9
)
    
(663
)
    
—
  
                                                                 
Charge-offs
    
(638
)
    
—
      
(98
)
    
—
      
—
      
(43
)
    
—
      
(779
)
Recoveries
    
209
      
—
      
—
      
74
      
21
      
9
      
—
      
313
  
Net charge-offs
    
(429
)
    
—
      
(98
)
    
74
      
21
      
(34
)
    
—
      
(466
)
Ending Balance
    
2,354
      
6,846
      
2,054
      
466
      
201
      
236
      
199
      
12,356
  
Period-end amount allocated to:
                                                                
Loans individually evaluated for impairment
    
26
      
19
      
—
      
171
      
56
      
1
      
—
      
273
  
Loans collectively evaluated for impairment
    
2,328
      
6,827
      
2,054
      
295
      
145
      
235
      
199
      
12,083
  
Balance as of December 31, 2019
  
$
2,354
    
$
6,846
    
$
2,054
    
$
466
    
$
201
    
$
236
    
$
199
    
$
12,356
  


 
Commercial
    
Commercial
Real Estate
    
Agriculture
    
Residential
Mortgage
    
Residential
Construction
    
Consumer
    
Unallocated
    
Total
  
Balance as of December 31, 2017
  
$
2,625
    
$
5,460
    
$
1,547
    
$
628
    
$
360
    
$
342
    
$
171
    
$
11,133
  
Provision for loan losses
    
1,036
      
572
      
85
      
(19
)
    
(173
)
    
(92
)
    
691
      
2,100
  
                                                                 
Charge-offs
    
(509
)
    
(142
)
    
—
      
—
      
—
      
(34
)
    
—
      
(685
)
Recoveries
    
46
      
—
      
—
      
34
      
131
      
63
      
—
      
274
  
Net charge-offs
    
(463
)
    
(142
)
    
—
      
34
      
131
      
29
      
—
      
(411
)
Ending Balance
    
3,198
      
5,890
      
1,632
      
643
      
318
      
279
      
862
      
12,822
  
Period-end amount allocated to:
                                                                
Loans individually evaluated for impairment
    
496
      
21
      
—
      
287
      
49
      
2
      
—
      
855
  
Loans collectively evaluated for impairment
    
2,702
      
5,869
      
1,632
      
356
      
269
      
277
      
862
      
11,967
  
Balance as of December 31, 2018
  
$
3,198
    
$
5,890
    
$
1,632
    
$
643
    
$
318
    
$
279
    
$
862
    
$
12,822
  

The Company’s investment in loans as of December 31, 2020, 2019, and 2018 related to each balance in the allowance for loan losses by loan category and disaggregated on the basis of the Company’s impairment methodology was as follows:

  
Commercial
    
Commercial
Real Estate
    
Agriculture
    
Residential
Mortgage
    
Residential
Construction
    
Consumer
    
Total
  
December 31, 2020
  
Loans individually evaluated for impairment
  
$
1,024
    
$
4,875
    
$
9,130
    
$
1,036
    
$
652
    
$
754
    
$
17,471
  
Loans collectively evaluated for impairment
    
254,902
      
449,178
      
85,918
      
63,461
      
3,571
      
18,713
      
875,743
  
Ending Balance
  
$
255,926
    
$
454,053
    
$
95,048
    
$
64,497
    
$
4,223
    
$
19,467
    
$
893,214
  
   
December 31, 2019
  
Loans individually evaluated for impairment
  
$
1,651
    
$
716
    
$
—
    
$
1,084
    
$
691
    
$
333
    
$
4,475
  
Loans collectively evaluated for impairment
    
104,489
      
451,058
      
115,751
      
63,859
      
14,521
      
26,492
      
776,170
  
Ending Balance
  
$
106,140
    
$
451,774
    
$
115,751
    
$
64,943
    
$
15,212
    
$
26,825
    
$
780,645
  
December 31, 2018
  
Loans individually evaluated for impairment
  
$
2,902
    
$
642
    
$
4,830
    
$
1,551
    
$
560
    
$
389
    
$
10,874
  
Loans collectively evaluated for impairment
    
122,275
      
419,464
      
118,796
      
49,513
      
19,564
      
35,008
      
764,620
  
Ending Balance
  
$
125,177
    
$
420,106
    
$
123,626
    
$
51,064
    
$
20,124
    
$
35,397
    
$
775,494