NOTE 5: LOAN PERFORMANCE

Nonaccrual loans, segregated by loan class, as of the dates shown below were as follows:



(Dollars in thousands)	March 31, 2020		December 31, 2019
Commercial and industrial	$	449	$	596
Real estate:
Commercial real estate		67		67
Construction and development		519		—
1-4 family residential		413		314
Total nonaccrual loans	$	1,448	$	977

Interest income that would have been earned under the original terms of the nonaccrual loans was $33,000 and $48,000 for the three months ended March 31, 2020 and 2019, respectively.

The following is an aging analysis of the Company’s past due loans, segregated by loan class, as of the dates shown below:


					90 days or								90 days
	30 to 59 days		60 to 89 days		greater		Total past		Total current				past due and
(Dollars in thousands)	past due		past due		past due		due		loans		Total loans		still accruing
March 31, 2020
Commercial and industrial	$	1,549	$	7	$	—	$	1,556	$	541,094	$	542,650	$	—
Real estate:
Commercial real estate		1,532		—		—		1,532		902,863		904,395		—
Construction and development		2,973		—		—		2,973		555,370		558,343		—
1-4 family residential		133		—		32		165		275,977		276,142		—
Multi-family residential		—		—		—		—		267,152		267,152		—
Consumer		15		—		—		15		38,118		38,133		—
Agriculture		—		—		—		—		7,520		7,520		—
Other		—		—				—		84,076		84,076
Total loans	$	6,202	$	7	$	32	$	6,241	$	2,672,170	$	2,678,411	$	—

December 31, 2019
Commercial and industrial	$	664	$	31	$	240	$	935	$	526,672	$	527,607	$	—
Real estate:
Commercial real estate		865		—				865		899,881		900,746		—
Construction and development		—		532		—		532		527,280		527,812		—
1-4 family residential		499		—				499		279,693		280,192		—
Multi-family residential		—		—		—		—		277,209		277,209		—
Consumer		43		—		—		43		36,739		36,782		—
Agriculture		—		—		—		—		9,812		9,812		—
Other		—		—				—		86,513		86,513		—
Total loans	$	2,071	$	563	$	240	$	2,874	$	2,643,799	$	2,646,673	$	—

There were no loans restructured due to borrower’s financial difficulties during the three months ended March 31, 2019. Loans restructured due to the borrower’s financial difficulties during the three months ending March 31, 2020, which remained outstanding as of the end of that period were as follows:



				Post-modification recorded investment
										Extended Maturity,
		Pre-modification						Extended		Restructured
		Outstanding						Maturity and		Payments
	Number	Recorded		Restructured		Extended		Restructured		and Adjusted
(Dollars in thousands)	of Loans	Investment		Payments		Maturity		Payments		Interest Rate
March 31, 2020
Commercial and industrial	3	$	657	$	426	$	—	$	231	$	—
Commercial real estate	3		4,813		4,813		—		—		—
Total	6	$	5,470	$	5,239	$	—	$	231	$	—

The recorded investment in troubled debt restructurings was $15.9 million and $8.8 million as of March 31, 2020 and December 31, 2019, respectively. At March 31, 2020 and December 31, 2019, $1.0 million and $393,000 of restructured loans were nonaccrual loans and $14.9 million and $8.4 million of restructured loans were accruing interest as of those periods, respectively. At December 31, 2019, the Company had an outstanding commitment to fund $2.0 million on a line of credit previously restructured. The Company had no such commitment at March 31, 2020.

There were no loans modified as a troubled debt restructured loan within the previous 12 months and for which there was a payment default. For purposes of this disclosure, a default is a loan modified as a troubled debt restructuring where the borrower is 90 days past due or results in the foreclosure and repossession of the applicable collateral.

Loan modifications related to a loan refinancing or restructuring other than a troubled debt restructuring are accounted for as a new loan if the terms provided to the borrower are at least as favorable to the Company as terms for comparable loans to other borrowers with similar collection risks that is not a loan refinancing or restructuring. If the loan refinancing or restructuring does not meet this condition or if only minor modifications are made to the original loan contract, it is not considered a new loan and is considered a renewal or modification of the original contract.

In support of customers impacted by the corona-virus, or COVID-19, the Company began providing short-term loan modifications by offering relief through payment deferrals during the first quarter of 2020. The Company has deferred payments, including principal and interest, totaling $936,000 as of March 31, 2020. The majority of the deferral arrangements provide for one-month to six-month deferral periods. Under regulatory guidance, there short-term deferrals are not assessed as troubled debt restructurings.