XML 24 R15.htm IDEA: XBRL DOCUMENT

TROUBLED DEBT RESTRUCTURINGS	6 Months Ended
Jun. 30, 2022
Troubled Debt Restructurings
TROUBLED DEBT RESTRUCTURINGS	NOTE 8 TROUBLED DEBT RESTRUCTURINGS There were $2.2 million and $2.5 million in loans classified as troubled debt restructurings at June 30, 2022 and December 31, 2021, respectively. All loans considered to be troubled debt restructurings are individually evaluated for impairment as part of the allowance for loan losses calculation. No loans modified during the three and six months ended June 30, 2022 or June 30, 2021, were considered to be troubled debt restructurings. Three loans totaling $84 thousand, secured by residential real estate, previously modified as troubled debt restructurings, defaulted during the three months ended June 30, 2022. One loan totaling $81 thousand, previously modified as a trouble debt restructuring, that defaulted during the first three months of 2022, was in compliance with the terms of the restructuring at June 30, 2022. During the three months ended June 30, 2021, two loans to the same borrower, previously modified as troubled debt restructurings, totaling $1.1 million defaulted, resulting in charge-offs totaling $835 thousand. No loans previously modified as troubled debt restructurings defaulted during the first three months of 2021. Generally, a restructured troubled debt is considered to be in default once it becomes 90 days or more past due following a modification. In determining 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.

TROUBLED DEBT RESTRUCTURINGS

6 Months Ended

Jun. 30, 2022

NOTE 8 TROUBLED DEBT RESTRUCTURINGS

There were $2.2 million and $2.5 million in loans classified as troubled debt restructurings at June 30, 2022 and December 31, 2021, respectively. All loans considered to be troubled debt restructurings are individually evaluated for impairment as part of the allowance for loan losses calculation. No loans modified during the three and six months ended June 30, 2022 or June 30, 2021, were considered to be troubled debt restructurings.

Three loans totaling $84 thousand, secured by residential real estate, previously modified as troubled debt restructurings, defaulted during the three months ended June 30, 2022. One loan totaling $81 thousand, previously modified as a trouble debt restructuring, that defaulted during the first three months of 2022, was in compliance with the terms of the restructuring at June 30, 2022. During the three months ended June 30, 2021, two loans to the same borrower, previously modified as troubled debt restructurings, totaling $1.1 million defaulted, resulting in charge-offs totaling $835 thousand. No loans previously modified as troubled debt restructurings defaulted during the first three months of 2021. Generally, a restructured troubled debt is considered to be in default once it becomes 90 days or more past due following a modification.

In determining 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.