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Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2016
Receivables [Abstract]  
Summary of Loans
Loans are stated at the principal amount outstanding net of unearned discounts, unearned income and allowance for loan losses.  Unearned income includes deferred loan origination fees reduced by loan origination costs and is amortized to interest income over the life of the related loan using methods that approximated the effective interest rate method.  Interest on substantially all loans is credited to income based on the principal amount outstanding. A summary of loans at March 31, 2016 and December 31, 2015 follows (in thousands):
 
March 31,
2016
 
December 31,
2015
Construction and land development
$
29,461

 
$
39,232

Agricultural real estate
119,508

 
122,579

1-4 Family residential properties
225,159

 
231,383

Multifamily residential properties
47,359

 
45,765

Commercial real estate
438,607

 
409,487

Loans secured by real estate
860,094

 
848,446

Agricultural loans
67,239

 
75,998

Commercial and industrial loans
298,588

 
305,851

Consumer loans
40,084

 
42,097

All other loans
11,700

 
11,317

Gross loans
1,277,705

 
1,283,709

Less:
 

 
 

Net deferred loan fees, premiums and discounts
2,538

 
2,788

Allowance for loan losses
14,736

 
14,576

Net loans
$
1,260,431

 
$
1,266,345
Allowance for Loan Losses and Recorded Investment in Loans
following tables present the balance in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method for the three-months ended March 31, 2016 and 2015 and for the year ended December 31, 2015 (in thousands):
 
Commercial/ Commercial Real Estate
 
Agricultural/ Agricultural Real Estate
 
Residential Real Estate
 
Consumer
 
Unallocated
 
Total
Three months ended March 31, 2016
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of year
$
11,379

 
$
1,337

 
$
994

 
$
642

 
$
224

 
$
14,576

Provision charged to expense
225

 
(68
)
 
16

 
123

 
(183
)
 
113

Losses charged off
(40
)
 
—

 
(84
)
 
(113
)
 
—

 
(237
)
Recoveries
225

 
1

 
—

 
58

 
—

 
284

Balance, end of period
$
11,789

 
$
1,270

 
$
926

 
$
710

 
$
41

 
$
14,736

Ending balance:
 

 
 

 
 

 
 

 
 

 
 

Individually evaluated for impairment
$
298

 
$
—

 
$
—

 
$
—

 
$
—

 
$
298

Collectively evaluated for impairment
$
11,491

 
$
1,270

 
$
926

 
$
710

 
$
41

 
$
14,438

Loans:
 

 
 

 
 

 
 

 
 

 
 

Ending balance
$
821,856

 
$
186,266

 
$
226,675

 
$
42,108

 
$
—

 
$
1,276,905

Ending balance:
 

 
 

 
 

 
 

 
 

 
 

Individually evaluated for impairment
$
1,201

 
$
430

 
$
—

 
$
—

 
$
—

 
$
1,631

Collectively evaluated for impairment
$
820,655

 
$
185,836

 
$
226,675

 
$
42,108

 
$
—

 
$
1,275,274

 
 
Commercial/ Commercial Real Estate
 
Agricultural/ Agricultural Real Estate
 
Residential Real Estate
 
Consumer
 
Unallocated
 
Total
Three months ended March 31, 2015
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of year
$
10,914

 
$
1,360

 
$
790

 
$
386

 
$
232

 
$
13,682

Provision charged to expense
358

 
(69
)
 
(13
)
 
4

 
(15
)
 
265

Losses charged off
(9
)
 
—

 
(25
)
 
(56
)
 
—

 
(90
)
Recoveries
196

 
—

 
1

 
52

 
—

 
249

Balance, end of period
$
11,459

 
$
1,291

 
$
753

 
$
386

 
$
217

 
$
14,106

Ending balance:
 

 
 

 
 

 
 

 
 

 
 

Individually evaluated for impairment
$
625

 
$
—

 
$
—

 
$
—

 
$
—

 
$
625

Collectively evaluated for impairment
$
10,834

 
$
1,291

 
$
753

 
$
386

 
$
217

 
$
13,481

Loans:
 

 
 

 
 

 
 

 
 

 
 

Ending balance
$
694,836

 
$
165,927

 
$
178,038

 
$
15,355

 
$
—

 
$
1,054,156

Ending balance:
 

 
 

 
 

 
 

 
 

 
 

Individually evaluated for impairment
$
3,392

 
$
—

 
$
—

 
$
—

 
$
—

 
$
3,392

Collectively evaluated for impairment
$
691,444

 
$
165,927

 
$
178,038

 
$
15,355

 
$
—

 
$
1,050,764

Year ended December 31, 2015
 

 
 

 
 

 
 

 
 

 
 

Allowance for loan losses:
 

 
 

 
 

 
 

 
 

 
 

Balance, beginning of year
$
10,914

 
$
1,360

 
$
790

 
$
386

 
$
232

 
$
13,682

Provision charged to expense
451

 
(25
)
 
267

 
633

 
(8
)
 
1,318

Losses charged off
(289
)
 
—

 
(64
)
 
(553
)
 
—

 
(906
)
Recoveries
303

 
2

 
1

 
176

 
—

 
482

Balance, end of year
$
11,379

 
$
1,337

 
$
994

 
$
642

 
$
224

 
$
14,576

Ending balance:
 

 
 

 
 

 
 

 
 

 
 

Individually evaluated for impairment
$
134

 
$
—

 
$
—

 
$
—

 
$
—

 
$
134

Collectively evaluated for impairment
$
11,245

 
$
1,337

 
$
994

 
$
642

 
$
224

 
$
14,442

Loans:
 

 
 

 
 

 
 

 
 

 
 

Ending balance
$
807,736

 
$
198,066

 
$
232,348

 
$
43,739

 
$
—

 
$
1,281,889

Ending balance:
 

 
 

 
 

 
 

 
 

 
 

Individually evaluated for impairment
$
744

 
$
430

 
$
—

 
$
—

 
$
—

 
$
1,174

Collectively evaluated for impairment
$
806,992

 
$
197,636

 
$
232,348

 
$
43,739

 
$
—

 
$
1,280,715
Credit Risk Profile of the Company's Loan Portfolio
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered pass rated loans.

The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of March 31, 2016 and December 31, 2015 (in thousands):

 
Construction &
Land Development
 
Agricultural Real Estate
 
1-4 Family Residential
Properties
 
Multifamily Residential
Properties
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Pass
$
29,316

 
$
39,067

 
$
115,439

 
$
118,103

 
$
219,754

 
$
224,552

 
$
46,785

 
$
45,180

Watch
—

 
—

 
1,807

 
2,282

 
1,435

 
1,454

 
241

 
243

Substandard
136

 
142

 
2,168

 
2,089

 
4,978

 
5,565

 
310

 
317

Doubtful
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
$
29,452

 
$
39,209

 
$
119,414

 
$
122,474

 
$
226,167

 
$
231,571

 
$
47,336

 
$
45,740


 
Commercial Real Estate (Nonfarm/Nonresidential)
 
Agricultural Loans
 
Commercial & Industrial Loans
 
Consumer Loans
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Pass
$
416,673

 
$
386,769

 
$
66,757

 
$
75,437

 
$
291,926

 
$
298,633

 
$
39,319

 
$
41,278

Watch
10,440

 
10,498

 
280

 
210

 
4,142

 
4,686

 
—

 
—

Substandard
11,177

 
11,905

 
106

 
239

 
1,817

 
1,741

 
309

 
301

Doubtful
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
$
438,290

 
$
409,172

 
$
67,143

 
$
75,886

 
$
297,885

 
$
305,060

 
$
39,628

 
$
41,579


 
All Other Loans
 
Total Loans
 
2016
 
2015
 
2016
 
2015
Pass
$
11,590

 
$
11,198

 
$
1,237,559

 
$
1,240,217

Watch
—

 
—

 
18,345

 
19,373

Substandard
—

 
—

 
21,001

 
22,299

Doubtful
—

 
—

 
—

 
—

Total
$
11,590

 
$
11,198

 
$
1,276,905

 
$
1,281,889
Loan Portfolio Aging Analysis
The following table presents the Company’s loan portfolio aging analysis at March 31, 2016 and December 31, 2015 (in thousands):

 
30-59 Days Past Due
 
60-89 Days Past Due
 
90 Days
or More Past Due
 
Total
Past Due
 
Current
 
Total Loans Receivable
 
Total Loans > 90 Days & Accruing
March 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
Construction and land development
$
235

 
$
—

 
$
—

 
$
235

 
$
29,217

 
$
29,452

 
$
—

Agricultural real estate
419

 
106

 
—

 
525

 
118,889

 
119,414

 
—

1-4 Family residential properties
322

 
506

 
290

 
1,118

 
225,049

 
226,167

 
—

Multifamily residential properties
—

 
—

 
—

 
—

 
47,336

 
47,336

 
—

Commercial real estate
4,649

 
187

 
117

 
4,953

 
433,337

 
438,290

 
—

Loans secured by real estate
5,625

 
799

 
407

 
6,831

 
853,828

 
860,659

 
—

Agricultural loans
—

 
—

 
55

 
55

 
67,088

 
67,143

 
—

Commercial and industrial loans
661

 
52

 
189

 
902

 
296,983

 
297,885

 
—

Consumer loans
106

 
—

 
9

 
115

 
39,513

 
39,628

 
—

All other loans
—

 
—

 
—

 
—

 
11,590

 
11,590

 
—

Total loans
$
6,392

 
$
851

 
$
660

 
$
7,903

 
$
1,269,002

 
$
1,276,905

 
$
—

December 31, 2015
 

 
 

 
 

 
 

 
 

 
 

 
 

Construction and land development
$
—

 
$
—

 
$
—

 
$
—

 
$
39,209

 
$
39,209

 
$
—

Agricultural real estate
106

 
—

 
—

 
106

 
122,368

 
122,474

 
—

1-4 Family residential properties
1,059

 
742

 
154

 
1,955

 
229,616

 
231,571

 
—

Multifamily residential properties
—

 
—

 
—

 
—

 
45,740

 
45,740

 
—

Commercial real estate
251

 
67

 
31

 
349

 
408,823

 
409,172

 
—

Loans secured by real estate
1,416

 
809

 
185

 
2,410

 
845,756

 
848,166

 
—

Agricultural loans
65

 
74

 
—

 
139

 
75,747

 
75,886

 
—

Commercial and industrial loans
65

 
476

 
196

 
737

 
304,323

 
305,060

 
—

Consumer loans
137

 
42

 
13

 
192

 
41,387

 
41,579

 
—

All other loans
—

 
—

 
—

 
—

 
11,198

 
11,198

 
—

Total loans
$
1,683

 
$
1,401

 
$
394

 
$
3,478

 
$
1,278,411

 
$
1,281,889

 
$
—
Impaired Loans
The following tables present impaired loans as of March 31, 2016 and December 31, 2015 (in thousands):

 
March 31, 2016
 
December 31, 2015
 
Recorded
Balance
 
Unpaid Principal Balance
 
Specific Allowance
 
Recorded
Balance
 
Unpaid Principal Balance
 
Specific Allowance
Loans with a specific allowance:
 
 
 
 
 
 
 
 
 
 
 
Construction and land development
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Agricultural real estate
430

 
430

 
—

 
430

 
430

 
—

1-4 Family residential properties
—

 
—

 
—

 
—

 
—

 
—

Multifamily residential properties
310

 
310

 
—

 
316

 
316

 
—

Commercial real estate
476

 
476

 
177

 
—

 
—

 
—

Loans secured by real estate
1,216

 
1,216

 
177

 
746

 
746

 
—

Agricultural loans
—

 
—

 
—

 
—

 
—

 
—

Commercial and industrial loans
392

 
392

 
121

 
405

 
405

 
134

Consumer loans
22

 
22

 
—

 
23

 
23

 
—

All other loans
—

 
—

 
—

 
—

 
—

 
—

Total loans
$
1,630

 
$
1,630

 
$
298

 
$
1,174

 
$
1,174

 
$
134

Loans without a specific allowance:
 

 
 

 
 

 
 

 
 

 
 

Construction and land development
$
136

 
$
701

 
$
—

 
$
142

 
$
707

 
$
—

Agricultural real estate
22

 
26

 
—

 
24

 
28

 
—

1-4 Family residential properties
1,323

 
1,517

 
—

 
1,373

 
1,688

 
—

Multifamily residential properties
—

 
—

 
—

 
1

 
1

 
—

Commercial real estate
295

 
316

 
—

 
304

 
325

 
—

Loans secured by real estate
1,776

 
2,560

 
—

 
1,844

 
2,749

 
—

Agricultural loans
70

 
70

 
—

 
79

 
79

 
—

Commercial and industrial loans
639

 
795

 
—

 
670

 
932

 
—

Consumer loans
230

 
233

 
—

 
242

 
256

 
—

All other loans
—

 
—

 
—

 
—

 
—

 
—

Total loans
$
2,715

 
$
3,658

 
$
—

 
$
2,835

 
$
4,016

 
$
—

Total loans:
 

 
 

 
 

 
 

 
 

 
 

Construction and land development
$
136

 
$
701

 
$
—

 
$
142

 
$
707

 
$
—

Agricultural real estate
452

 
456

 
—

 
454

 
458

 
—

1-4 Family residential properties
1,323

 
1,517

 
—

 
1,373

 
1,688

 
—

Multifamily residential properties
310

 
310

 
—

 
317

 
317

 
—

Commercial real estate
771

 
792

 
177

 
304

 
325

 
—

Loans secured by real estate
2,992

 
3,776

 
177

 
2,590

 
3,495

 
—

Agricultural loans
70

 
70

 
—

 
79

 
79

 
—

Commercial and industrial loans
1,031

 
1,187

 
121

 
1,075

 
1,337

 
134

Consumer loans
252

 
255

 
—

 
265

 
279

 
—

All other loans
—

 
—

 
—

 
—

 
—

 
—

Total loans
$
4,345

 
$
5,288

 
$
298

 
$
4,009

 
$
5,190

 
$
134
Impaired loans by portfolio class
The following tables present average recorded investment and interest income recognized on impaired loans for the three-month periods ended March 31, 2016 and 2015 (in thousands):
 
 
For the three months ended
 
March 31, 2016
 
March 31, 2015
 
Average Investment
in Impaired Loans
 
Interest Income Recognized
 
Average Investment
in Impaired Loans
 
Interest Income Recognized
Construction and land development
$
136

 
$
—

 
$
419

 
$
—

Agricultural real estate
453

 
—

 
96

 
1

1-4 Family residential properties
1,330

 
5

 
1,292

 
2

Multifamily residential properties
312

 
—

 
—

 
—

Commercial real estate
773

 
1

 
2,084

 
1

Loans secured by real estate
3,004

 
6

 
3,891

 
4

Commercial and industrial loans
1,061

 
—

 
514

 
—

Consumer loans
264

 
—

 
294

 
1

Total loans
$
4,419

 
$
6

 
$
4,699

 
$
5
Nonaccrual Loans
The following table presents the Company’s recorded balance of nonaccrual loans as March 31, 2016 and December 31, 2015 (in thousands). This table excludes purchased impaired loans and performing troubled debt restructurings.
 
March 31,
2016
 
December 31,
2015
Construction and land development
$
136

 
$
142

Agricultural real estate
452

 
454

1-4 Family residential properties
928

 
975

Multifamily residential properties
310

 
317

Commercial real estate
736

 
269

Loans secured by real estate
2,562

 
2,157

Agricultural loans
70

 
79

Commercial and industrial loans
1,003

 
928

Consumer loans
241

 
248

Total loans
$
3,876

 
$
3,412
Recorded Balance of Troubled Debt Restructurings
The following table presents the Company’s recorded balance of troubled debt restructurings at March 31, 2016 and December 31, 2015 (in thousands).
Troubled debt restructurings:
March 31,
2016
 
December 31,
2015
Construction and land development
$
136

 
$
142

Agricultural real estate
232

 
232

1-4 Family residential properties
511

 
515

Commercial real estate
121

 
124

Loans secured by real estate
1,000

 
1,013

Commercial and industrial loans
468

 
491

Consumer loans
221

 
239

Total
$
1,689

 
$
1,743

Performing troubled debt restructurings:
 

 
 

Agricultural real estate
$
—

 
$
—

1-4 Family residential properties
395

 
$
397

Commercial real estate
35

 
36

Loans secured by real estate
430

 
433

Commercial and industrial loans
28

 
147

Consumer loans
11

 
21

Total
$
469

 
$
601
Financing Receivables,Troubled Debt Restructurings during period [Table Text Block]
The following table presents loans modified as TDRs during the three months ended March 31, 2016 and 2015, as a result of various modified loan factors (in thousands):
 
March 31, 2016
 
March 31, 2015
 
Number of Modifications
 
Recorded Investment
 
Type of Modifications
 
Number of Modifications
 
Recorded Investment
 
Type of Modifications
Farm Loans
—

 
$
—

 

 
1

 
$
23

 
(b)
1-4 Family residential properties
—

 
—

 

 
1

 
11

 
(b)
Loans secured by real estate
—

 
—

 
 
 
2

 
34

 
 
Commercial and industrial loans
1

 
19

 
(b)(c)
 
—

 
—

 

Consumer Loans
—

 
—

 

 
2

 
32

 
(b)(c)
Total
1

 
$
19

 
 
 
4

 
$
66