Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Standards Update and Change in Accounting Principle [Abstract]

Schedule of Changes Made to Loan Segments and Allowance for Credit Losses Upon Adoption of ASC 326

The below table shows the changes made to loan segments and the allowance for credit losses upon the adoption of ASC 326 as of January 1, 2023.

(In Thousands)	December 31, 2022 Statement Balance		Segment portfolio reclassifications			December 31, 2022 after reclassifications
Loans:
Agriculture and farmland	$	15,591	$	40,155		$	55,746
Construction		—		57,713			57,713
Commercial & industrial		103,874		881			104,755
Paycheck Protection Program		881		(881	)		—
Commercial real estate		540,914		(540,914	)		—
Multifamily		—		105,390			105,390
Owner occupied		—		139,554			139,554
Non-owner occupied		—		245,274			245,274
Residential real estate		250,832		(250,832	)		—
First liens		—		168,084			168,084
Second liens and lines of credit		—		35,576			35,576
Municipal		5,466		—			5,466
Consumer and other		10,057		—			10,057
Total		927,615		—			927,615
Deferred Costs		256		—			256
Total	$	927,871	$	—		$	927,871
Allowance:
Agriculture and farmland	$	33	$	246		$	279
Construction		—		274			274
Commercial & industrial		583		—			583
Paycheck Protection Program		—		—			—
Commercial real estate		2,462		(2,462	)		—
Multifamily		—		480			480
Owner occupied		—		635			635
Non-owner occupied		—		1,116			1,116
Residential real estate		1,536		(1,536	)		—
First liens		—		1,029			1,029
Second liens and lines of credit		—		218			218
Municipal		12		—			12
Consumer and other		40		—			40
Total	$	4,666	$	—		$	4,666

Summary of Portfolio Segments and Measures Allowance for Credit Losses

The Company has identified the following portfolio segments and measures the allowance for credit losses using the following methods:

Portfolio Segment	Measurement Method
Agriculture and farmland	Remaining life
Construction	Discounted cash flow
Commercial & industrial	Discounted cash flow
Commercial real estate
Multifamily	Discounted cash flow
Owner occupied	Discounted cash flow
Non-owner occupied	Discounted cash flow
Residential real estate
First liens	Discounted cash flow
Second liens and lines of credit	Discounted cash flow
Municipal	Remaining life
Consumer	Remaining life