TROUBLED DEBT RESTRUCTURINGS

6 Months Ended

Jun. 30, 2019

Troubled Debt Restructurings

TROUBLED DEBT RESTRUCTURINGS

NOTE 8 TROUBLED DEBT RESTRUCTURINGS:

At June 30, 2019 there were $4.1 million in loans that are classified as troubled debt restructurings compared to $5.4 million at December 31, 2018. All loans considered to be troubled debt restructurings are individually evaluated for impairment as part of the allowance for loan losses calculation. The following table presents information related to loans modified as troubled debt restructurings during the six and three months ended June 30, 2019 and 2018.

		For the six months ended							For the six months ended
			June 30, 2019							June 30, 2018
			Pre-Mod.							Pre-Mod.		Post-Mod.
Troubled Debt	# of		Recorded		Post-Mod.		# of			Recorded		Recorded
Restructurings	Loans		Investment				Loans			Investment		Investment
					Recorded
(Dollars are in thousands)					Investment
Real estate secured:
Commercial	-	$	-	$	-	-		$	-		$	-
Construction and land
Development	-		-		-	-			-			-
Residential 1-4 family	-		-		-	-			-			-
Multifamily	-		-		-	-			-			-
Farmland	1		281		281		-			-		-
Total real estate loans	-		-		-	-			-			-
Commercial						-			-			-
Agriculture	-		-		-	-			-			-
Consumer installment loans	-		-		-	-			-			-
All other loans	-		-		-		-			-		-
Total	1	$	281	$	281		-	$		-	$	-

		For the three months ended							For the three months ended
				June 30, 2019						June 30, 2018
Troubled Debt				Pre-Mod.		Post-Mod.				Pre-Mod.		Post-Mod.
Restructurings	# of			Recorded				# of		Recorded		Recorded
						Recorded
(Dollars are in thousands)	Loans			Investment				Loans		Investment		Investment
						Investment
Real estate secured:
Commercial	-	$		-	$	-	-		$	-	$	-
Construction and land
Development	-			-		-	-			-		-
Residential 1-4 family	-			-		-	-			-		-
Multifamily	-			-		-	-			-		-
Farmland	1			281		281		-		-		-
Total real estate loans	-			-		-	-			-		-
Commercial							-			-		-
Agriculture	-			-		-	-			-		-
Consumer installment loans	-			-		-	-			-		-
All other loans	-			-		-		-		-		-
Total	1		$	281	$	281		-	$	-	$	-

During the three months ended June 30, 2019, the Company modified one loan for which the modification was considered to be a troubled debt restructuring. This loan is secured by farmland and the modification is related to a court-ordered payment plan. No modified loans were considered to be troubled debt restructurings during the first three months of 2019.

During the six and three months ended June 30, 2018, the Company modified no loans for which the modification was considered to be a troubled debt restructuring.

No loans modified as a troubled debt restructurings defaulted during the three or six months ended June 30, 2019 or 2018. Generally, a troubled debt restructuring is considered to be in default once it becomes 90 days or more past due following a modification.

In determination of the allowance for loan losses, management considers troubled debt restructurings and subsequent defaults in these restructurings in its estimate. The Company evaluates all troubled debt restructurings for possible further impairment. As a result, the allowance may be increased, adjustments may be made in the allocation of the allowance, or charge-offs may be taken to further write down the carrying value of the loan.