ALLOWANCE FOR CREDIT LOSSES FOR LOANS (“ACLL”)

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

ALLOWANCE FOR CREDIT LOSSES FOR LOANS (“ACLL”)

NOTE 7 ALLOWANCE FOR CREDIT LOSSES FOR LOANS (“ACLL”)

The following table presents a disaggregated analysis of activity in the allowance for credit losses for loans as of September 30, 2024 and December 31, 2023:

		Real estate secured
(Dollars are in thousands)		Commercial		Construction and Land Development		Residential 1-4 family		Multifamily		Farmland		Commercial		Agriculture		Consumer and All Other		Unallocated		Total
Nine months ended September 30, 2024
Beginning balance	$	2,518	$	300	$	2,666	$	509	$	163	$	673	$	33	$	394	$	-	$	7,256
Charge-offs		(179)		-		(71)		-		-		(152)		-		(213)		-		(615)
Recoveries		54		37		73		-		297		1		-		114		-		576
Provision for credit losses		218		(48)		163		(15)		(310)		186		(2)		261		-		453
Ending balance	$	2,611	$	289	$	2,831	$	494	$	150	$	708	$	31	$	556	$	-	$	7,670
Three months ended September 30, 2024
Beginning balance	$	2,845	$	268	$	2,786	$	506	$	160	$	614	$	34	$	514	$	-	$	7,727
Charge-offs		(178)		-		(47)		-		-		(5)		-		(83)		-		(313)
Recoveries		28		11		55		-		98		-		-		37		-		229
Provision for credit losses		(84)		10		37		(12)		(108)		99		(3)		88		-		27
Ending balance	$	2,611	$	289	$	2,831	$	494	$	150	$	708	$	31	$	556	$	-	$	7,670
		Real estate secured
(Dollars are in thousands)		Commercial		Construction and Land Development		Residential 1-4 family		Multifamily		Farmland		Commercial		Agriculture		Consumer and All Other		Unallocated		Total
Year ended December 31, 2023
Beginning balance	$	2,364	$	345	$	2,364	$	262	$	153	$	381	$	32	$	386	$	440	$	6,727
Adjustment to allowance for adoption of ASU 2016-13		(299)		164		275		12		75		241		(5)		(103)		(440)
Charge-offs		-		-		(51)		-		-		(45)		(59)		(321)		-		(476)
Recoveries		-		35		37		111		-		19		5		166		-		373
Provision for credit losses		453		(244)		41		124		(65)		77		60		266		-		712
Ending balance	$	2,518	$	300	$	2,666	$	509	$	163	$	673	$	33	$	394	$	-	$	7,256

Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.