XML 35 R25.htm IDEA: XBRL DOCUMENT v3.21.2
Allowances for Loan Losses (Tables)
 9 Months Ended
Sep. 30, 2021
Allowance for Credit Loss [Abstract]  
Summary of Allowances for Loan Losses by Loan Class

The following table summarizes the activity in the allowance for loan losses by loan class for the three-month periods ended September 30, 2021 and 2020.

 

 

 

Agriculture
Loans

 

 

Commercial
Loans

 

 

Commercial
Real Estate
Loans

 

 

Residential
Real Estate
Loan

 

 

Consumer
Loans

 

 

Municipal
Loans

 

 

Unallocated
Loans

 

 

Total

 

 

 

For the Three Months Ended September 30, 2021

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

98

 

 

$

350

 

 

$

342

 

 

$

1,670

 

 

$

23

 

 

$

16

 

 

$

376

 

 

$

2,875

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2

)

Recoveries

 

 

—

 

 

 

1

 

 

 

—

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5

 

Provision

 

 

31

 

 

 

107

 

 

 

21

 

 

 

698

 

 

 

(3

)

 

 

13

 

 

 

(410

)

 

 

457

 

Ending balance

 

$

129

 

 

$

458

 

 

$

363

 

 

$

2,370

 

 

$

20

 

 

$

29

 

 

$

(34

)

 

$

3,335

 

 

 

For the Three Months Ended September 30, 2020

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

129

 

 

$

292

 

 

$

264

 

 

$

1,640

 

 

$

33

 

 

$

17

 

 

$

419

 

 

$

2,794

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Recoveries

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provision

 

 

(5

)

 

 

(1

)

 

 

43

 

 

 

47

 

 

 

(3

)

 

 

2

 

 

 

(39

)

 

 

44

 

Ending balance

 

$

124

 

 

$

291

 

 

$

307

 

 

$

1,687

 

 

$

30

 

 

$

19

 

 

$

380

 

 

$

2,838

 

 

The following table summarizes the activity in the allowance for loan losses by loan class for the nine month periods ended September 30, 2021 and 2020.

 

 

 

Agriculture
Loans

 

 

Commercial
Loans

 

 

Commercial
Real Estate
Loans

 

 

Residential
Real Estate
Loan

 

 

Consumer
Loans

 

 

Municipal
Loans

 

 

Unallocated
Loans

 

 

Total

 

 

 

For the Nine Months Ended September 30, 2021

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

120

 

 

$

290

 

 

$

314

 

 

$

1,702

 

 

$

35

 

 

$

18

 

 

$

310

 

 

$

2,789

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(49

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(49

)

Recoveries

 

 

—

 

 

 

19

 

 

 

—

 

 

 

28

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

47

 

Provision

 

 

9

 

 

 

149

 

 

 

49

 

 

 

689

 

 

 

(15

)

 

 

11

 

 

 

(344

)

 

 

548

 

Ending balance

 

$

129

 

 

$

458

 

 

$

363

 

 

$

2,370

 

 

$

20

 

 

$

29

 

 

$

(34

)

 

$

3,335

 

 

 

For the Nine Months Ended September 30, 2020

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

152

 

 

$

312

 

 

$

255

 

 

$

1,707

 

 

$

43

 

 

$

13

 

 

$

220

 

 

$

2,702

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2

)

 

 

—

 

 

 

—

 

 

 

(2

)

Recoveries

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provision

 

 

(28

)

 

 

(21

)

 

 

52

 

 

 

(20

)

 

 

(11

)

 

 

6

 

 

 

160

 

 

 

138

 

Ending balance

 

$

124

 

 

$

291

 

 

$

307

 

 

$

1,687

 

 

$

30

 

 

$

19

 

 

$

380

 

 

$

2,838

 
Summary of Balance of Loans Individually Evaluated vs. Collectively Evaluated for Impairment

The following table illustrates the balance of loans individually evaluated vs. collectively evaluated for impairment at September 30, 2021 and December 31, 2020. (in thousands)

 

 

 

Agriculture
Loans

 

 

Commercial
Loans

 

 

Commercial
Real Estate
Loans

 

 

Residential
Real Estate
Loan

 

 

Consumer
Loans

 

 

Municipal
Loans

 

 

Unallocated
Loans

 

 

Total

 

 

 

As of September 30, 2021

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

129

 

 

$

458

 

 

$

363

 

 

$

2,370

 

 

$

20

 

 

$

29

 

 

$

(34

)

 

$

3,335

 

Ending balance: individually
   evaluated for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance: collectively evaluated
   for impairment

 

$

129

 

 

$

458

 

 

$

363

 

 

$

2,370

 

 

$

20

 

 

$

29

 

 

$

(34

)

 

$

3,335

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

8,873

 

 

$

123,536

 

 

$

309,079

 

 

$

216,526

 

 

$

4,309

 

 

$

6,351

 

 

 

 

 

$

668,672

 

Ending balance: individually
   evaluated for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

136

 

 

$

—

 

 

$

—

 

 

 

 

 

$

136

 

Ending balance: loans acquired with deteriorated credit
   quality

 

$

—

 

 

$

1,918

 

 

$

3,467

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

$

5,385

 

Ending balance: collectively evaluated
   for impairment

 

$

8,873

 

 

$

123,536

 

 

$

309,079

 

 

$

216,390

 

 

$

4,309

 

 

$

6,351

 

 

 

 

 

$

668,536

 

 

 

 

Agriculture
Loans

 

 

Commercial
Loans

 

 

Commercial
Real Estate
Loans

 

 

Residential
Real Estate
Loan

 

 

Consumer
Loans

 

 

Municipal
Loans

 

 

Unallocated
Loans

 

 

Total

 

 

 

As of December 31, 2020

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

120

 

 

$

290

 

 

$

314

 

 

$

1,702

 

 

$

35

 

 

$

18

 

 

 

310

 

 

$

2,789

 

Ending balance: individually
   evaluated for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance: collectively evaluated
   for impairment

 

$

120

 

 

$

290

 

 

$

314

 

 

$

1,702

 

 

$

35

 

 

$

18

 

 

 

310

 

 

$

2,789

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

11,246

 

 

$

21,534

 

 

$

27,261

 

 

$

167,536

 

 

$

2,514

 

 

$

6,749

 

 

 

 

 

$

236,840

 

Ending balance: individually
   evaluated for impairment

 

$

—

 

 

$

2

 

 

$

—

 

 

$

295

 

 

$

—

 

 

$

—

 

 

 

 

 

$

297

 

Ending balance: collectively evaluated
   for impairment

 

$

11,246

 

 

$

21,532

 

 

$

27,261

 

 

$

167,241

 

 

$

2,514

 

 

$

6,749

 

 

 

 

 

$

237,137

 
Summary of Classes of the Loan Portfolio Summarized by the Internal Risk Rating System

The following table presents the classes of the loan portfolio summarized by the internal risk rating system as of September 30, 2021 and December 31, 2020:

 

(In Thousands)

 

 

 

 

Special

 

 

 

 

 

 

 

 

 

 

As of September 30, 2021

 

Pass

 

 

Mention

 

 

Substandard

 

 

Doubtful

 

 

Total

 

Agriculture loans

 

$

8,873

 

 

 

—

 

 

 

—

 

 

 

—

 

 

$

8,873

 

Commercial loans

 

$

118,991

 

 

 

2,935

 

 

 

1,610

 

 

 

—

 

 

$

123,536

 

Commercial real estate loans

 

$

302,878

 

 

 

1,925

 

 

 

4,276

 

 

 

—

 

 

$

309,079

 

Residential real estate loans

 

$

214,889

 

 

 

310

 

 

 

1,327

 

 

 

—

 

 

$

216,526

 

Consumer loans

 

$

4,309

 

 

 

—

 

 

 

—

 

 

 

—

 

 

$

4,309

 

Municipal loans

 

$

6,351

 

 

 

—

 

 

 

—

 

 

 

—

 

 

$

6,351

 

Total

 

$

656,289

 

 

$

5,170

 

 

$

7,213

 

 

$

—

 

 

$

668,672

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In Thousands)

 

 

 

 

Special

 

 

 

 

 

 

 

 

 

 

As of December 31, 2020

 

Pass

 

 

Mention

 

 

Substandard

 

 

Doubtful

 

 

Total

 

Agriculture loans

 

$

11,246

 

 

 

—

 

 

 

—

 

 

 

—

 

 

$

11,246

 

Commercial loans

 

$

21,259

 

 

 

—

 

 

 

275

 

 

 

—

 

 

$

21,534

 

Commercial real estate loans

 

$

27,261

 

 

 

—

 

 

 

—

 

 

 

—

 

 

$

27,261

 

Residential real estate loans

 

$

166,968

 

 

 

—

 

 

 

568

 

 

 

—

 

 

$

167,536

 

Consumer loans

 

$

2,514

 

 

 

—

 

 

 

—

 

 

 

—

 

 

$

2,514

 

Municipal loans

 

$

6,749

 

 

 

—

 

 

 

—

 

 

 

—

 

 

$

6,749

 

Total

 

$

235,997

 

 

$

—

 

 

$

843

 

 

$

—

 

 

$

236,840

 
Summary of Aging Analysis of the Recorded Investment of Past-Due Loans

The following tables present an aging analysis of the recorded investment of past-due loans.

 

 

 

September 30, 2021

 

(In Thousands)

 

30-59
Days
Past Due

 

 

60-89
Days
Past Due

 

 

90 Days
or Greater
Past Due

 

 

Total
Past Due

 

 

Current

 

 

Purchased Credit Impaired Loans

 

 

Total
  Loans

 

 

Total > 90
Days and
Accruing

 

Agriculture loans

 

$

161

 

 

$

—

 

 

$

—

 

 

$

161

 

 

$

8,712

 

 

$

—

 

 

$

8,873

 

 

$

—

 

Commercial loans

 

 

3

 

 

 

—

 

 

 

—

 

 

 

3

 

 

 

121,615

 

 

 

1,918

 

 

 

123,536

 

 

 

—

 

Commercial real estate loans

 

 

2,112

 

 

 

6

 

 

 

147

 

 

 

2,265

 

 

 

303,347

 

 

 

3,467

 

 

 

309,079

 

 

 

147

 

Residential real estate loans

 

 

1,121

 

 

 

387

 

 

 

—

 

 

 

1,508

 

 

 

215,018

 

 

 

—

 

 

 

216,526

 

 

 

—

 

Consumer loans

 

 

46

 

 

 

1

 

 

 

—

 

 

 

47

 

 

 

4,262

 

 

 

—

 

 

 

4,309

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

6,351

 

 

 

—

 

 

 

6,351

 

 

 

—

 

Total

 

$

3,443

 

 

$

394

 

 

$

147

 

 

$

3,984

 

 

$

659,303

 

 

$

5,385

 

 

$

668,672

 

 

$

147

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2020

 

(In Thousands)

 

30-59
Days
Past Due

 

 

60-89
Days
Past Due

 

 

90 Days
or Greater
Past Due

 

 

Total
Past Due

 

 

Current

 

 

Total
  Loans

 

 

Total > 90
Days and
  Accruing

 

 

 

 

Agriculture loans

 

$

171

 

 

$

—

 

 

$

—

 

 

$

171

 

 

$

11,075

 

 

$

11,246

 

 

$

—

 

 

 

 

Commercial loans

 

 

66

 

 

 

—

 

 

 

6

 

 

 

72

 

 

 

21,462

 

 

 

21,534

 

 

 

—

 

 

 

 

Commercial real estate loans

 

 

1,297

 

 

 

—

 

 

 

—

 

 

 

1,297

 

 

 

25,964

 

 

 

27,261

 

 

 

—

 

 

 

 

Residential real estate loans

 

 

1,248

 

 

 

831

 

 

 

338

 

 

 

2,417

 

 

 

165,119

 

 

 

167,536

 

 

 

147

 

 

 

 

Consumer loans

 

 

69

 

 

 

26

 

 

 

—

 

 

 

95

 

 

 

2,419

 

 

 

2,514

 

 

 

—

 

 

 

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

6,749

 

 

 

6,749

 

 

 

—

 

 

 

 

Total

 

$

2,851

 

 

$

857

 

 

$

344

 

 

$

4,052

 

 

$

232,788

 

 

$

236,840

 

 

$

147

 

 

 

 

 
Summary of Impaired Loans

The following tables present the recorded investment and unpaid principal balances for impaired loans and related allowance, if applicable. Also presented are the average recorded investments and the related amount of interest recognized during the time within the period that the impaired loans were impaired.

 

 

 

As of September 30, 2021

 

(In Thousands)

 

Recorded Investment

 

 

Unpaid Principal Balance

 

 

Related Allowance

 

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

Agriculture loans

 

$

—

 

 

$

—

 

 

$

—

 

Commercial loans

 

 

—

 

 

 

—

 

 

 

—

 

Commercial real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

Residential real estate loans

 

 

136

 

 

 

170

 

 

 

—

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

—

 

With an allowance recorded:

 

 

 

 

 

 

 

 

 

Agriculture loans

 

$

—

 

 

$

—

 

 

$

—

 

Commercial loans

 

 

—

 

 

 

—

 

 

 

—

 

Commercial real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

Residential real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

 

 

 

 

 

 

 

Agriculture loans

 

$

—

 

 

$

—

 

 

$

—

 

Commercial loans

 

 

—

 

 

 

—

 

 

 

—

 

Commercial real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

Residential real estate loans

 

 

136

 

 

 

170

 

 

 

—

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

136

 

 

$

170

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2020

 

 

 

Recorded Investment

 

 

Unpaid Principal Balance

 

 

Related Allowance

 

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

Agriculture loans

 

$

—

 

 

$

—

 

 

$

—

 

Commercial loans

 

 

1

 

 

 

6

 

 

 

—

 

Commercial real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

Residential real estate loans

 

 

247

 

 

 

286

 

 

 

—

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

With an allowance recorded:

 

 

 

 

 

 

 

 

 

Agriculture loans

 

$

—

 

 

$

—

 

 

$

—

 

Commercial loans

 

 

—

 

 

 

—

 

 

 

—

 

Commercial real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

Residential real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

 

 

 

 

 

 

 

Agriculture loans

 

$

—

 

 

$

—

 

 

$

—

 

Commercial loans

 

 

1

 

 

 

6

 

 

 

—

 

 

Commercial real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

Residential real estate loans

 

 

247

 

 

 

286

 

 

 

—

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

248

 

 

$

292

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended September 30,

 

 

 

2021

 

 

2020

 

(In Thousands)

 

Average
Recorded
Investment

 

 

Interest Income Recognized

 

 

Average
Recorded Investment

 

 

Interest Income Recognized

 

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Residential real estate loans

 

 

138

 

 

 

—

 

 

 

326

 

 

 

1

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

138

 

 

 

—

 

 

 

326

 

 

 

1

 

With an allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial loans

 

 

—

 

 

 

—

 

 

 

3

 

 

 

—

 

Commercial real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Residential real estate loans

 

 

—

 

 

 

—

 

 

 

45

 

 

 

—

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

48

 

 

 

—

 

Total

 

$

138

 

 

$

—

 

 

$

374

 

 

$

1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

(In Thousands)

 

Average
Recorded
Investment

 

 

Interest Income
Recognized

 

 

Average
Recorded
Investment

 

 

Interest Income
Recognized

 

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Residential real estate loans

 

 

141

 

 

 

—

 

 

 

334

 

 

 

4

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

141

 

 

 

—

 

 

 

334

 

 

 

4

 

With an allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial loans

 

 

—

 

 

 

—

 

 

 

3

 

 

 

—

 

Commercial real estate loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Residential real estate loans

 

 

—

 

 

 

—

 

 

 

45

 

 

 

—

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

—

 

 

 

—

 

 

 

48

 

 

 

—

 

Total

 

$

141

 

 

$

—

 

 

$

382

 

 

$

4

 

 
Summary of Portfolio of Nonaccrual Loans

The following table present nonaccrual loans by classes of the loan portfolio:

 

(In Thousands)

 

September 30,
2021

 

 

December 31,
2020

 

Agriculture loans

 

$

—

 

 

$

—

 

Commercial loans

 

 

46

 

 

 

48

 

Commercial real estate loans

 

 

—

 

 

 

—

 

Residential real estate loans

 

 

370

 

 

 

421

 

Consumer loans

 

 

—

 

 

 

—

 

Municipal loans

 

 

—

 

 

 

—

 

Consumer

 

 

—

 

 

 

—

 

Total

 

$

416

 

 

$

469