Loans (Tables)

12 Months Ended

Dec. 31, 2023

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Schedule of Major Classifications of Loans

Major classifications of loans at December 31, 2023 and 2022 are summarized as follows (in thousands):

	December 31, 2023						December 31, 2022
	Amount			% of Total			Amount			% of Total
Residential real estate:
Closed-end 1-4 family - first lien	$	771,144			34.9	%	$	573,033			32.2	%
Closed-end 1-4 family - junior lien		11,814			0.5	%		9,422			0.5	%
Multi-family		26,739			1.2	%		14,106			0.8	%
Total residential real estate		809,697			36.6	%		596,561			33.5	%
Commercial real estate:
Nonfarm nonresidential		557,202			25.2	%		497,766			28.0	%
Farmland		58,532			2.6	%		53,691			3.0	%
Total commercial real estate		615,734			27.8	%		551,457			31.0	%
Construction and land development:
Residential		100,974			4.6	%		121,363			6.8	%
Other		195,724			8.9	%		135,127			7.6	%
Total construction and land development		296,698			13.5	%		256,490			14.4	%
Home equity lines of credit		95,544			4.3	%		64,215			3.6	%
Commercial loans:
Other commercial loans		273,639			12.4	%		193,053			10.9	%
Agricultural		66,510			3.0	%		56,946			3.2	%
State, county, and municipal loans		34,819			1.6	%		40,964			2.3	%
Total commercial loans		374,968			17.0	%		290,963			16.4	%
Consumer loans		55,587			2.5	%		49,592			2.8	%
Total gross loans		2,248,228			101.7	%		1,809,278			101.7	%
Allowance for credit losses		(28,991	)		-1.3	%		(24,310	)		-1.4	%
Net discounts		(129	)		0.0	%		(279	)		0.0	%
Net deferred loan fees		(8,093	)		-0.4	%		(5,872	)		-0.3	%
Net loans	$	2,211,015			100.0	%	$	1,778,817			100.0	%

Summary of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method

The following tables present the activity in the allowance for credit losses by portfolio segment. It also includes the balance in the allowance for credit losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2023 and 2022 (amounts in thousands).

	Real Estate Mortgage Loans
Allowance for Credit Losses	Residential			Commercial			Construction and Land Development			Home Equity Lines Of Credit			Commercial			Consumer			Total
Balance - December 31, 2022 prior to adoption of ASC 326	$	5,088		$	10,057		$	3,377		$	562		$	4,778		$	448		$	24,310
Impact of adopting ASC 326		-			-			-			-			73			7			80
Provision for credit losses		2,145			390			1,465			498			526			220			5,244
Loan charge-offs		-			-			(196	)		-			(696	)		(135	)		(1,027	)
Loan recoveries		-			83			-			18			225			58			384
Balance - December 31, 2023	$	7,233		$	10,530		$	4,646		$	1,078		$	4,906		$	598			28,991
Ending balance:
Individually evaluated for impairment	$	12		$	300		$	-		$	-		$	26		$	40		$	378
Collectively evaluated for impairment	$	7,221		$	10,230		$	4,646		$	1,078		$	4,880		$	558		$	28,613
Loans:
Individually evaluated for impairment	$	2,328		$	2,778		$	364		$	202		$	26		$	40		$	5,738
Collectively evaluated for impairment	$	807,369		$	612,956		$	296,334		$	95,342		$	374,942		$	55,547		$	2,242,490
Percent of loans in each category to total loans		36.0	%		27.4	%		13.2	%		4.2	%		16.7	%		2.5	%		100.0	%

	Real Estate Mortgage Loans
Allowance for Loan Losses	Residential			Commercial			Construction and Land Development			Home Equity Lines Of Credit			Commercial			Consumer			Total
Balance - December 31, 2021	$	2,596		$	8,038		$	2,992		$	396		$	6,486		$	414		$	20,922
Provision for loan losses		2,534			1,957			380			139			(1,211	)		41			3,840
Loan charge-offs		(42	)		-			-			(14	)		(595	)		(28	)		(679	)
Loan recoveries		-			62			5			41			98			21			227
Balance - December 31, 2022	$	5,088		$	10,057		$	3,377		$	562		$	4,778		$	448		$	24,310
Ending balance:
Individually evaluated for impairment	$	-		$	241		$	-		$	-		$	317		$	47		$	605
Collectively evaluated for impairment	$	5,088		$	9,816		$	3,377		$	562		$	4,461		$	401		$	23,705
Loans:
Individually evaluated for impairment	$	1,251		$	6,777		$	190		$	-		$	595		$	47		$	8,860
Collectively evaluated for impairment	$	595,293		$	544,672		$	256,275		$	64,215		$	290,325		$	49,506		$	1,800,286
Acquired loans with deteriorated    credit quality	$	17		$	8		$	25		$	-		$	43		$	39		$	132
Percent of loans in each category to total loans		33.0	%		30.5	%		14.2	%		3.5	%		16.1	%		2.7	%		100.0	%

Summary of Impaired Loans by Class of Loans

The following table presents collateral dependent impaired loans by class of loans as of December 31, 2023 (amounts in thousands).

December 31, 2023
Nonaccruing Collateral Dependent Loans	Unpaid Principal Balance		Recorded Investment		Impaired Loans With No Allowance		Impaired Loans With Allowance		Allowance for Credit Losses
Mortgage loans on real estate:
Residential	$	1,229	$	1,229	$	1,229	$	-	$	-
Commercial real estate		2,769		2,769		1,423		1,346		300
Construction and land development		364		364		364		-		-
Total mortgage loans on real estate		4,362		4,362		3,016		1,346		300
Home equity lines of credit		202		202		202		-		-
Commercial loans		-		-		-		-		-
Consumer loans		5		5		-		5		5
Total Loans	$	4,569	$	4,569	$	3,218	$	1,351	$	305

Accruing Collateral Dependent Loans	Unpaid Principal Balance		Recorded Investment		Impaired Loans With No Allowance		Impaired Loans With Allowance		Allowance for Credit Losses
Mortgage loans on real estate:
Residential	$	1,099	$	1,099	$	934	$	165	$	12
Commercial real estate		9		9		9		-		-
Construction and land development		-		-		-		-		-
Total mortgage loans on real estate		1,108		1,108		943		165		12
Home equity lines of credit		-		-		-		-		-
Commercial loans		26		26		-		26		26
Consumer loans		35		35		-		35		35
Total Loans	$	1,169	$	1,169	$	943	$	226	$	73

Total Collateral Dependent Loans	Unpaid Principal Balance		Recorded Investment		Impaired Loans With No Allowance		Impaired Loans With Allowance		Allowance for Credit Losses
Mortgage loans on real estate:
Residential	$	2,328	$	2,328	$	2,163	$	165	$	12
Commercial real estate		2,778		2,778		1,432		1,346		300
Construction and land development		364		364		364		-		-
Total mortgage loans on real estate		5,470		5,470		3,959		1,511		312
Home equity lines of credit		202		202		202		-		-
Commercial loans		26		26		-		26		26
Consumer loans		40		40		-		40		40
Total Loans	$	5,738	$	5,738	$	4,161	$	1,577	$	378

The following table presents impaired loans by class of loans as of December 31, 2022 (amounts in thousands).

December 31, 2022
Nonaccruing Impaired Loans	Unpaid Principal Balance		Recorded Investment		Impaired Loans With No Allowance		Impaired Loans With Allowance		Allowance for Loan Losses
Mortgage loans on real estate:
Residential	$	239	$	239	$	239	$	-	$	-
Commercial real estate		599		599		373		226		241
Construction and land development		-		-		-		-		-
Total mortgage loans on real estate		838		838		612		226		241
Home equity lines of credit		-		-		-		-		-
Commercial loans		-		-		-		-		-
Consumer loans		-		-		-		-		-
Total Loans	$	838	$	838	$	612	$	226	$	241

Accruing Impaired Loans	Unpaid Principal Balance		Recorded Investment		Impaired Loans With No Allowance		Impaired Loans With Allowance		Allowance for Loan Losses
Mortgage loans on real estate:
Residential	$	1,012	$	1,012	$	1,012	$	-	$	-
Commercial real estate		6,178		6,178		6,178		-		-
Construction and land development		190		190		190		-		-
Total mortgage loans on real estate		7,380		7,380		7,380		-		-
Home equity lines of credit		-		-		-		-		-
Commercial loans		595		595		-		595		317
Consumer loans		47		47		-		47		47
Total Loans	$	8,022	$	8,022	$	7,380	$	642	$	364

Total Impaired Loans	Unpaid Principal Balance		Recorded Investment		Impaired Loans With No Allowance		Impaired Loans With Allowance		Allowance for Loan Losses
Mortgage loans on real estate:
Residential	$	1,251	$	1,251	$	1,251	$	-	$	-
Commercial real estate		6,777		6,777		6,551		226		241
Construction and land development		190		190		190		-		-
Total mortgage loans on real estate		8,218		8,218		7,992		226		241
Home equity lines of credit		-		-		-		-		-
Commercial loans		595		595		-		595		317
Consumer loans		47		47		-		47		47
Total Loans	$	8,860	$	8,860	$	7,992	$	868	$	605

Summary of Average Recorded Investment and Interest Income Recognized on Impaired Loans

The following table presents the average recorded investment in impaired loans and the interest income recognized on impaired loans in the years ended December 31, 2023 and 2022 by loan category (in thousands).

	Year Ended December 31, 2023				Year Ended December 31, 2022
	Average Recorded Investment		Interest Income		Average Recorded Investment		Interest Income
Mortgage loans on real estate:
Residential real estate	$	2,037	$	51	$	1,255	$	32
Commercial real estate		4,998		1		5,661		294
Construction and land development		179		-		254		6
Total mortgage loans on real estate		7,214		52		7,170		332
Home equity lines of credit		186		-		122		-
Commercial loans		402		2		301		29
Consumer loans		41		3		74		3
Total Loans	$	7,843	$	57	$	7,667	$	364

Schedule of Performance Status of Loans by Class of Loans

The following tables present the performance status of loans as of December 31, 2023 and 2022 by class of loans (amounts in thousands).

As of December 31, 2023	Performing		Nonperforming		Total
Mortgage loans on real estate:
Residential real estate	$	807,682	$	2,015	$	809,697
Commercial real estate		612,965		2,769		615,734
Construction and land development		296,187		511		296,698
Total mortgage loans on real estate		1,716,834		5,295		1,722,129
Home equity lines of credit		95,115		429		95,544
Commercial loans		374,968		-		374,968
Consumer loans		55,444		143		55,587
Total Loans	$	2,242,361	$	5,867	$	2,248,228

As of December 31, 2022	Performing		Nonperforming		Total
Mortgage loans on real estate:
Residential real estate	$	595,792	$	769	$	596,561
Commercial real estate		550,858		599		551,457
Construction and land development		256,481		9		256,490
Total mortgage loans on real estate		1,403,131		1,377		1,404,508
Home equity lines of credit		64,166		49		64,215
Commercial loans		290,897		66		290,963
Consumer loans		49,590		2		49,592
Total Loans	$	1,807,784	$	1,494	$	1,809,278

Schedule of Aging of Loans and Non-Accrual Loans

The following tables present the aging of the recorded investment in past due loans and non-accrual loan balances as of December 31, 2023 and 2022 by class of loans (amounts in thousands).

	Accruing Loans
			30-89 Days		90+ Days		Nonaccrual				Nonaccrual
As of December 31, 2023	Current		Past Due		Past Due		Loans		Total Loans		With No ACL
Mortgage loans on real estate:
Residential	$	805,262	$	2,420	$	288	$	1,727	$	809,697	$	1,727
Commercial real estate		612,901		64		-		2,769		615,734		1,423
Construction and land development		296,030		157		-		511		296,698		511
Total mortgage loans on real estate		1,714,193		2,641		288		5,007		1,722,129		3,661
Home equity lines of credit		95,003		112		-		429		95,544		429
Commercial loans		374,699		269		-		-		374,968		-
Consumer loans		55,061		383		-		143		55,587		137
Total Loans	$	2,238,956	$	3,405	$	288	$	5,579	$	2,248,228	$	4,227

	Accruing Loans
			30-89 Days		90+ Days		Nonaccrual				Nonaccrual
As of December 31, 2022	Current		Past Due		Past Due		Loans		Total Loans		With No ACL
Mortgage loans on real estate:
Residential	$	594,055	$	1,737	$	72	$	697	$	596,561	$	454
Commercial real estate		545,354		5,504		-		599		551,457		-
Construction and land development		255,989		492		-		9		256,490		9
Total mortgage loans on real estate		1,395,398		7,733		72		1,305		1,404,508		463
Home equity lines of credit		64,016		150		-		49		64,215		26
Commercial loans		290,485		412		66		-		290,963		-
Consumer loans		49,251		339		-		2		49,592		2
Total Loans	$	1,799,150	$	8,634	$	138	$	1,356	$	1,809,278	$	491

Schedule of Loan Balances Classified by Credit Quality Indicator, Risk Category, Loan Type and Based on Year of OriginatIion

The following table presents loan balances classified by credit quality indicator, loan type and based on year of origination as of December 31, 2023 (amounts in thousands).

	2023		2022		2021		2020		2019		Prior		Revolving Loans		Total
Residential real estate
Pass	$	209,016	$	354,153	$	120,802	$	68,229	$	16,903	$	25,380	$	7,420	$	801,903
Special Mention		1,742		2,013		590		157		27		176		-		4,705
Substandard		36		1,240		151		258		719		685		-		3,089
Doubtful		-		-		-		-		-		-		-		-
Total residential real estate	$	210,794	$	357,406	$	121,543	$	68,644	$	17,649	$	26,241	$	7,420	$	809,697
Commercial real estate
Pass	$	81,239	$	196,437	$	99,072	$	96,775	$	51,677	$	64,851	$	14,977	$	605,028
Special Mention		419		978		383		881		-		5,122		-		7,783
Substandard		49		-		-		46		50		2,769		9		2,923
Doubtful		-		-		-		-		-		-		-		-
Total commercial real estate	$	81,707	$	197,415	$	99,455	$	97,702	$	51,727	$	72,742	$	14,986	$	615,734
Construction and land development
Pass	$	148,804	$	93,987	$	20,752	$	4,678	$	2,421	$	4,591	$	20,139	$	295,372
Special Mention		211		472		14		-		22		12		-		731
Substandard		-		411		84		-		-		100		-		595
Doubtful		-		-		-		-		-		-		-		-
Total construction and land development	$	149,015	$	94,870	$	20,850	$	4,678	$	2,443	$	4,703	$	20,139	$	296,698
Current-period gross charge-offs	$	-	$	-	$	196	$	-	$	-	$	-	$	-	$	196
Home equity lines of credit
Pass	$	750	$	450	$	-	$	852	$	-	$	-	$	92,823	$	94,875
Special Mention		-		-		-		-		-		-		200		200
Substandard		-		-		-		-		-		20		449		469
Doubtful		-		-		-		-		-		-		-		-
Total home equity lines of credit	$	750	$	450	$	-	$	852	$	-	$	20	$	93,472	$	95,544
Commercial loans
Pass	$	94,966	$	73,381	$	30,912	$	16,257	$	6,505	$	10,700	$	134,488	$	367,209
Special Mention		175		142		49		294		26		4,057		2,990		7,733
Substandard		-		-		-		26		-		-		-		26
Doubtful		-		-		-		-		-		-		-		-
Total commercial loans	$	95,141	$	73,523	$	30,961	$	16,577	$	6,531	$	14,757	$	137,478	$	374,968
Current-period gross charge-offs	$	288	$	46	$	1	$	-	$	23	$	338	$	-	$	696
Consumer loans
Pass	$	21,479	$	14,017	$	8,188	$	3,949	$	1,950	$	2,567	$	2,933	$	55,083
Special Mention		77		107		36		16		3		-		27		266
Substandard		65		46		26		56		-		34		11		238
Doubtful		-		-		-		-		-		-		-		-
Total consumer loans	$	21,621	$	14,170	$	8,250	$	4,021	$	1,953	$	2,601	$	2,971	$	55,587
Current-period gross charge-offs	$	-	$	120	$	-	$	15	$	-	$	-	$	-	$	135
Total Loans
Pass	$	556,254	$	732,425	$	279,726	$	190,740	$	79,456	$	108,089	$	272,780	$	2,219,470
Special Mention		2,624		3,712		1,072		1,348		78		9,367		3,217		21,418
Substandard		150		1,697		261		386		769		3,608		469		7,340
Doubtful		-		-		-		-		-		-		-		-
Total loans	$	559,028	$	737,834	$	281,059	$	192,474	$	80,303	$	121,064	$	276,466	$	2,248,228
Current-period gross charge-offs	$	288	$	166	$	197	$	15	$	23	$	338	$	-	$	1,027

As of December 31, 2022, the risk category of loans by class of loans is as follows (amounts in thousands):

			Special
As of December 31, 2022	Pass		Mention		Substandard		Doubtful		Total
Mortgage loans on real estate:
Residential	$	591,882	$	2,648	$	2,031	$	-	$	596,561
Commercial real estate		539,777		4,706		6,974		-		551,457
Construction and land development		256,200		77		213		-		256,490
Total mortgage loans on real estate		1,387,859		7,431		9,218		-		1,404,508
Home equity lines of credit		63,861		212		142		-		64,215
Commercial loans		283,359		7,008		596		-		290,963
Consumer loans		49,206		238		148		-		49,592
Total Loans	$	1,784,285	$	14,889	$	10,104	$	-	$	1,809,278