XML 21 R11.htm IDEA: XBRL DOCUMENT

Note 3 - Loans Receivable

9 Months Ended

Sep. 30, 2021

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 3. Loans Receivable

The major components of loans in the consolidated balance sheets at September 30, 2021 and December 31, 2020 are as follows:

(dollars in thousands)	2021			2020

Construction & development	$	44,435		$	46,053
Farmland		28,082			32,449
Residential		292,670			279,893
Commercial mortgage		229,118			203,886
Commercial & agricultural		32,726			33,663
SBA-PPP		37,762			51,118
Consumer & other		21,324			17,033
Total loans		686,117			664,095
Allowance for loan losses		(5,550	)		(4,900	)
Loans, net of allowance for loan losses	$	680,567		$	659,195

As of September 30, 2021 and December 31, 2020, substantially all of the Bank’s residential 1-4 family loans were pledged as collateral for borrowing lines at the FHLB.

Small Business Administration Paycheck Protection Program

Gross SBA-PPP loans totaling $40.8 million with net deferred fees of $3.0 million remained on the balance sheet as of September 30, 2021. Gross SBA-PPP loans totaling $52.5 million with net deferred fees of $1.4 million remained on the balance sheet at December 31, 2020. These fees, net of direct costs relating to the origination of these loans, have been deferred and are being amortized over the life of the loans. Loan forgiveness payments will be treated as prepayments and recognized as they occur. A summary of our SBA-PPP loans as of September 30, 2021 and December 31, 2020 by SBA tier is as follows:

(dollars in thousands)
September 30, 2021
	# of SBA					Balance Less
SBA Tier	Approved		Mix			Unearned Fees		Mix

$2 million to $10 million		1		0.07	%	$	1,947		5.16	%
Over $350,000 to less than $2 million		18		1.26	%		8,062		21.35	%
Up to $350,000		1,415		98.67	%		27,753		73.49	%
Total		1,434		100.00	%	$	37,762		100.00	%

(dollars in thousands)
December 31, 2020
	# of SBA					Balance Less
SBA Tier	Approved		Mix			Unearned Fees		Mix

$2 million to $10 million		2		0.20	%	$	7,267		14.22	%
Over $350,000 to less than $2 million		18		1.78	%		11,693		22.87	%
Up to $350,000		988		98.02	%		32,158		62.91	%
Total		1,008		100.00	%	$	51,118		100.00	%

A summary of our SBA-PPP loans as of September 30, 2021 and December 31, 2020 by industry is as follows:

(dollars in thousands)
September 30, 2021
	# of SBA					Balance Less
Industry	Approved		Mix			Unearned Fees		Mix

Manufacturing		46		3.21	%	$	3,929		10.41	%
Retail Trade		102		7.11	%		1,848		4.89	%
Construction		190		13.25	%		3,980		10.54	%
Health Care & Social Assistance		40		2.79	%		2,543		6.73	%
Accommodation & Retail Services		90		6.27	%		6,021		15.95	%
Educational Services		9		0.63	%		2,432		6.44	%
General & Other		957		66.74	%		17,009		45.04	%
Total		1,434		100.00	%	$	37,762		100.00	%

(dollars in thousands)
December 31, 2020
	# of SBA					Balance Less
Industry	Approved		Mix			Unearned Fees		Mix

Manufacturing		74		7.34	%	$	14,327		28.03	%
Retail Trade		134		13.29	%		5,247		10.26	%
Construction		127		12.60	%		3,577		7.00	%
Health Care & Social Assistance		73		7.24	%		3,550		6.94	%
Accommodation & Retail Services		91		9.03	%		3,705		7.25	%
Educational Services		7		0.70	%		4,825		9.44	%
General & Other		502		49.80	%		15,887		31.08	%
Total		1,008		100.00	%	$	51,118		100.00	%