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Loans (Tables)
 12 Months Ended
Dec. 31, 2021
Loans [Abstract]  
Loan Portfolio, by Loan Class
The composition of the Company’s loan portfolio, by loan class, at December 31, is as follows:

 
2021
    
2020
  
Commercial
  
$
135,894
    
$
255,926
  
Commercial Real Estate
    
526,924
      
454,053
  
Agriculture
    
107,183
      
95,048
  
Residential Mortgage
    
76,160
      
64,497
  
Residential Construction
    
4,482
      
4,223
  
Consumer
    
17,258
      
19,467
  
                 
     
867,901
      
893,214
  
Allowance for loan losses
    
(13,952
)
    
(15,416
)
Net deferred origination fees and costs
    
(1,232
)
    
(1,968
)
                 
Loans, net
  
$
852,717
    
$
875,830
  
Loans by Delinquency and Non-Accrual Status
The Company’s loans by delinquency and non-accrual status, as of December 31, 2021 and 2020, 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, 2021
                                    
Commercial
  
$
134,890
    
$
394
    
$
477
    
$
—
    
$
133
    
$
135,894
  
Commercial Real Estate
    
526,337
      
32
      
—
      
—
      
555
      
526,924
  
Agriculture
    
98,471
      
—
      
—
      
—
      
8,712
      
107,183
  
Residential Mortgage
    
75,861
      
161
      
—
      
—
      
138
      
76,160
  
Residential Construction
    
4,482
      
—
      
—
      
—
      
—
      
4,482
  
Consumer
    
16,523
      
—
      
76
      
—
      
659
      
17,258
  
Total
  
$
856,564
    
$
587
    
$
553
    
$
—
    
$
10,197
    
$
867,901
  
                                                 
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
  
Impaired Loans, Segregated by Loan Class
Impaired loans, segregated by loan class, as of December 31, 2021 and 2020, were as follows:

 
Unpaid
Contractual
Principal
Balance
    
Recorded
Investment
with no
Allowance
    
Recorded
Investment
with
Allowance
    
Total
Recorded
Investment
    
Related
Allowance
  
December 31, 2021
                              
Commercial
  
$
142
    
$
133
    
$
—
    
$
133
    
$
—
  
Commercial Real Estate
    
555
      
555
      
—
      
555
      
—
  
Agriculture
    
10,680
      
8,712
      
—
      
8,712
      
—
  
Residential Mortgage
    
701
      
138
      
517
      
655
      
81
  
Residential Construction
    
241
      
—
      
241
      
241
      
10
  
Consumer
    
815
      
659
      
64
      
723
      
2
  
Total
  
$
13,134
    
$
10,197
    
$
822
    
$
11,019
    
$
93
  
                                         
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
  
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, 2021 and  2020, was as follows:

 
December 31, 2021
    
December 31, 2020
  
   
Average
Recorded
Investment
    
Interest
Income
Recognized
    
Average
Recorded
Investment
    
Interest
Income
Recognized
  
Commercial
  
$
300
    
$
7
    
$
1,344
    
$
60
  
Commercial Real Estate
    
4,165
      
509
      
3,489
      
58
  
Agriculture
    
9,046
      
—
      
5,481
      
—
  
Residential Mortgage
    
809
      
23
      
1,062
      
30
  
Residential Construction
    
329
      
15
      
671
      
34
  
Consumer
    
745
      
7
      
630
      
17
  
Total
  
$
15,394
    
$
561
    
$
12,677
    
$
199
  
Loans Modified as TDR's
Loans modified as troubled debt restructurings during the years ended December 31, 2021 and 2020,  were as follows:

 
Year Ended December 31, 2021
  
   
Number of
Contracts
    
Pre-modification
outstanding
recorded
investment
    
Post-
modification
outstanding
recorded
investment
  
Agriculture
     3     $ 9,130     $ 9,130  
Consumer
    
2
      
593
      
593
  
Total
    
5
    
$
9,723
    
$
9,723
  

There were no loans modified as TDRs during the year ended December 31, 2020.
Risk Ratings by Loan Class
The following table presents the risk ratings by loan class as of December 31, 2021 and 2020.

 
Pass
    
Special
Mention
    
Substandard
    
Doubtful
    
Loss
    
Total
  
December 31, 2021
                                    
Commercial
  
$
132,425
    
$
2,376
    
$
1,093
    
$
—
    
$
—
    
$
135,894
  
Commercial Real Estate
    
516,120
      
6,524
      
4,280
      
—
      
—
      
526,924
  
Agriculture
    
98,471
      
—
      
8,712
      
—
      
—
      
107,183
  
Residential Mortgage
    
76,020
      
—
      
140
      
—
      
—
      
76,160
  
Residential Construction
    
4,482
      
—
      
—
      
—
      
—
      
4,482
  
Consumer
    
16,599
      
—
      
659
      
—
      
—
      
17,258
  
Total
  
$
844,117
    
$
8,900
    
$
14,884
    
$
—
    
$
—
    
$
867,901
  
                                                 
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
  
Allowance for Loan Losses
The following table details activity in the allowance for loan losses by loan category for the years ended December 31, 2021 and  2020.

 
Commercial
    
Commercial
Real Estate
    
Agriculture
    
Residential
Mortgage
    
Residential
Construction
    
Consumer
    
Unallocated
    
Total
  
Balance as of December 31, 2020
  
$
2,252
    
$
7,915
    
$
3,834
    
$
635
    
$
128
    
$
214
    
$
438
    
$
15,416
  
Provision for loan losses
    
(575
)
    
879
      
(2,352
)
    
112
      
(54
)
    
(147
)
    
637
      
(1,500
)
                                                                 
Charge-offs
    
(502
)
    
—
      
—
      
(5
)
    
—
      
(12
)
    
—
      
(519
)
Recoveries
    
429
      
14
      
—
      
—
      
—
      
112
      
—
      
555
  
Net (charge-offs)/ recoveries
    
(73
)
    
14
      
—
      
(5
)
    
—
      
100
      
—
      
36
  
Ending Balance
    
1,604
      
8,808
      
1,482
      
742
      
74
      
167
      
1,075
      
13,952
  
Period-end amount allocated to:
                                                                
Loans individually evaluated for impairment
    
—
      
—
      
—
      
81
      
10
      
2
      
—
      
93
  
Loans collectively evaluated for impairment
    
1,604
      
8,808
      
1,482
      
661
      
64
      
165
      
1,075
      
13,859
  
Balance as of December 31, 2021
  
$
1,604
    
$
8,808
    
$
1,482
    
$
742
    
$
74
    
$
167
    
$
1,075
    
$
13,952
  

 
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)/ recoveries
    
(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
  

The Company’s investment in loans as of December 31, 2021 and 2020 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, 2021
  
Loans individually evaluated for impairment
  
$
133
    
$
555
    
$
8,712
    
$
655
    
$
241
    
$
723
    
$
11,019
  
Loans collectively evaluated for impairment
    
135,761
      
526,369
      
98,471
      
75,505
      
4,241
      
16,535
      
856,882
  
Ending Balance
  
$
135,894
    
$
526,924
    
$
107,183
    
$
76,160
    
$
4,482
    
$
17,258
    
$
867,901
  
   
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