LOANS (Tables)

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Summary of loans receivable outstanding

Loans receivable outstanding at December 31, are summarized as follows: 

(Dollars are in thousands)	2019		2018
Real estate secured:
Commercial	$	170,436	$	140,862
Construction and land development		31,130		35,119
Residential 1-4 family		242,922		249,946
Multifamily		13,638		13,496
Farmland		20,790		22,114
Total real estate loans		478,916		461,537
Commercial		53,994		55,157
Agriculture		4,797		5,266
Consumer installment loans		23,127		24,538
All other loans		1,710		598
Total loans	$	562,544	$	547,096

Summary of loans receivable on nonaccrual status

Loans receivable on nonaccrual status at December 31, are summarized as follows:

(Dollars are in thousands)	2019		2018
Real estate secured:
Commercial	$	1,601	$	784
Construction and land development		45		157
Residential 1-4 family		2,544		3,626
Multifamily		—		76
Farmland		531		1,657
Total real estate loans		4,721		6,300
Commercial		390		61
Consumer installment and other loans		45		8
Total loans receivable on nonaccrual status	$	5,156	$	6,369

Summary of impaired loans

The following table presents information concerning the Company’s investment in loans considered impaired as of December 31, 2019 and December 31, 2018:

As of December 31, 2019  (Dollars are in thousands)	Average Recorded Investment		Interest Income Recognized		Recorded Investment		Unpaid Principal Balance		Related Allowance
With no related allowance recorded:
Real estate secured:
Commercial	$	2,017	$	100	$	2,416	$	2,478	$	-
Construction and land development		91		7		70		346		-
Residential 1-4 family		1,944		55		1,263		1,460		-
Multifamily		29		1		-		-		-
Farmland		1,143		47		778		970		-
Commercial		578		11		128		178		-
Agriculture		-		-		-		1		-
Consumer installment loans		2		-		-		-		-
All other loans		-		-		-		-		-
With an allowance recorded:
Real estate secured:
Commercial		470		1		363		379		70
Construction and land development		-		-		-		-		-
Residential 1-4 family		302		-		55		60		44
Multifamily		-		-		-		-		-
Farmland		221		11		216		228		9
Commercial		507		7		286		886		200
Agriculture		-		-		-		-		-
Consumer installment loans		3		-		-		-		-
All other loans		-		-		-		-		-
Total	$	7,307	$	240	$	5,575	$	6,986	$	323

As of December 31, 2018  (Dollars are in thousands)	Average Recorded Investment		Interest Income Recognized		Recorded Investment		Unpaid Principal Balance		Related Allowance
With no related allowance recorded:
Real estate secured:
Commercial	$	2,556	$	95	$	1,887	$	1,941	$	-
Construction and land development		199		1		114		379		-
Residential 1-4 family		3,159		175		2,880		3,168		-
Multifamily		146		6		75		117		-
Farmland		1,551		54		1,693		1,880		-
Commercial		132		1		-		-		-
Agriculture		3		-		-		-		-
Consumer installment loans		2		-		-		-		-
All other loans		-		-		-		-		-
With an allowance recorded:
Real estate secured:
Commercial		1,214		16		435		539		40
Construction and land development		-		-		-		-		-
Residential 1-4 family		399		16		431		454		132
Multifamily		-		-		-		-		-
Farmland		361		-		345		358		132
Commercial		256		3		109		109		13
Agriculture		-		-		-		-		-
Consumer installment loans		6		1		7		7		1
All other loans		-		-		-		-		-
Total	$	9,984	$	368	$	7,976	$	8,952	$	318

Summary of age analysis of past due loans receivable

An age analysis of past due loans receivable is below. At December 31, 2019 and 2018, there were no loans over 90 days past due that were accruing.

As of December 31, 2019 (Dollars are in thousands)	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total Loans
Real estate secured:
Commercial	$	502	$	125	$	262	$	889	$	169,547	$	170,436
Construction and land development		50		18		18		86		31,044		31,130
Residential 1-4 family		3,700		1,096		710		5,506		237,416		242,922
Multifamily		262		-		-		262		13,376		13,638
Farmland		111		47		152		310		20,480		20,790
Total real estate loans		4,625		1,286		1,142		7,053		471,863		485,916
Commercial		406		-		323		729		53,265		53,994
Agriculture		244		-		21		265		4,532		4,797
Consumer installment Loans		98		24		23		145		22,982		23,127
All other loans		-		-		-		-		1,710		1,710
Total loans	$	5,373	$	1,310	$	1,509	$	8,192	$	554,352	$	562,544

As of December 31, 2018  (Dollars are in thousands)	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total Loans
Real estate secured:
Commercial	$	80	$	31	$	137	$	248	$	140,614	$	140,862
Construction and land development		70		-		27		97		35,022		35,119
Residential 1-4 family		3,468		564		525		4,557		245,389		249,946
Multifamily		-		273		—		273		13,223		13,496
Farmland		316		—		1090		1,406		20,708		22,114
Total real estate loans		3,934		868		1,779		6,581		454,956		461,537
Commercial		68		-		61		129		55,028		55,157
Agriculture		22		-		-		22		5,244		5,266
Consumer installment Loans		74		15		-		89		24,449		24,538
All other loans		-		—		-		-		598		598
Total loans	$	4,098	$	883	$	1,840	$	6,821	$	540,275	$	547,096

Summary of risk category of loans receivable

Based on the most recent analysis performed, the risk category of loans receivable was as follows:

As of December 31, 2019  (Dollars are in thousands)	Pass		Special Mention		Substandard		Doubtful		Total
Real estate secured:
Commercial	$	165,570	$	3,265	$	1,601	$	-	$	170,436
Construction and land development		30,747		360		23		-		31,130
Residential 1-4 family		239,210		1,207		2,505		-		242,922
Multifamily		13,638		-		-		-		13,638
Farmland		18,779		1,480		531		-		20,790
Total real estate loans		467,944		6,312		4,660		-		478,916
Commercial		51,086		2,504		118		286		53,994
Agriculture		4,753		4		40		-		4,797
Consumer installment loans		23,087		12		28		-		23,127
All other loans		1,710		-		-		-		1,710
Total	$	548,580	$	8,832	$	4,846	$	286	$	562,544

As of December 31, 2018 (Dollars are in thousands)	Pass		Special Mention		Substandard		Doubtful		Total
Real estate secured:
Commercial	$	137,146	$	2,890	$	826	$	-	$	140,862
Construction and land development		34,231		718		170		-		35,119
Residential 1-4 family		243,950		1,523		4,473		-		249,946
Multifamily		13,357		63		76		-		13,496
Farmland		18,126		2,331		1,657		-		22,114
Total real estate loans		446,810		7,525		7,202		-		461,537
Commercial		52,156		2,940		61		-		55,157
Agriculture		5,255		10		1		-		5,266
Consumer installment loans		24,493		35		10		-		24,538
All other loans		598		-		-		-		598
Total	$	529,312	$	10,510	$	7,274	$	-	$	547,096