Loans Allowance for Loan Losses and Credit Quality (Tables)

9 Months Ended

Sep. 30, 2020

Loans, Allowance for Loan Losses and Credit Quality

Schedule of composition of net loans

	September 30,		December 31,
	2020		2019
Commercial & industrial	$	197,637,213	$	98,930,831
Commercial real estate		280,495,907		246,282,726
Municipal		52,332,802		55,817,206
Residential real estate - 1st lien		165,004,745		158,337,296
Residential real estate - Jr lien		38,603,996		43,230,873
Consumer		4,173,109		4,390,005
Total loans		738,247,772		606,988,937
Deduct (add):
ALL		6,788,108		5,926,491
Deferred net loan fees (costs)		2,253,038		(362,415	)
Net loans	$	729,206,626	$	601,424,861

Schedule of past due loans by segment

			90 Days		Total						Non-Accrual		90 Days or More and
September 30, 2020	30-89 Days		or More		Past Due		Current		Total Loans		Loans		Accruing
Commercial & industrial	$	311,106	$	8,559	$	319,665	$	197,317,548	$	197,637,213	$	402,287	$	8,559
Commercial real estate		227,285		604,522		831,807		279,664,100		280,495,907		1,735,572		0
Municipal		0		0		0		52,332,802		52,332,802		0		0
Residential real estate
1st lien		439,313		1,133,026		1,572,339		163,432,406		165,004,745		2,243,632		741,610
Jr lien		47,007		157,496		204,503		38,399,493		38,603,996		217,844		74,900
Consumer		24,215		0		24,215		4,148,894		4,173,109		0		0
Totals	$	1,048,926	$	1,903,603	$	2,952,529	$	735,295,243	$	738,247,772	$	4,599,335	$	825,069

			90 Days		Total						Non-Accrual		90 Days or More and
December 31, 2019	30-89 Days		or More		Past Due		Current		Total Loans		Loans		Accruing
Commercial & industrial	$	68,532	$	44,503	$	113,035	$	98,817,796	$	98,930,831	$	480,083	$	0
Commercial real estate		1,690,307		151,723		1,842,030		244,440,696		246,282,726		1,600,827		0
Municipal		0		0		0		55,817,206		55,817,206		0		0
Residential real estate
1st lien		3,871,045		1,217,098		5,088,143		153,249,153		158,337,296		2,112,267		530,046
Jr lien		331,416		147,976		479,392		42,751,481		43,230,873		240,753		112,386
Consumer		49,607		0		49,607		4,340,398		4,390,005		0		0
Totals	$	6,010,907	$	1,561,300	$	7,572,207	$	599,416,730	$	606,988,937	$	4,433,930	$	642,432

Residential mortgage loans in process of foreclosure

	Number of loans		Balance
September 30, 2020		7	$	356,070
December 31, 2019		9		495,943

Changes in the allowance for loan losses

									Residential			Residential
	Commercial			Commercial					Real Estate			Real Estate
	& Industrial			Real Estate			Municipal		1st Lien			Jr Lien		Consumer			Unallocated			Total
ALL beginning balance	$	886,546		$	3,406,502		$	0	$	1,511,897		$	319,749	$	48,653		$	342,337		$	6,515,684
Charge-offs		(34,565	)		(2,200	)		0		(56,500	)		0		(7,560	)		0			(100,825	)
Recoveries		0			0			0		4,742			533		5,475			0			10,750
Provision (credit)		90,770			222,268			41,866		36,383			6,434		8,709			(43,931	)		362,499
ALL ending balance	$	942,751		$	3,626,570		$	41,866	$	1,496,522		$	326,716	$	55,277		$	298,406		$	6,788,108

									Residential			Residential
	Commercial			Commercial					Real Estate			Real Estate
	& Industrial			Real Estate			Municipal		1st Lien			Jr Lien			Consumer			Unallocated		Total
ALL beginning balance	$	836,766		$	3,181,646		$	0	$	1,388,564		$	289,684		$	51,793		$	178,038	$	5,926,491
Charge-offs		(34,565	)		(2,200	)		0		(134,196	)		(28,673	)		(50,458	)		0		(250,092	)
Recoveries		1,087			20,000			0		10,552			5,280			28,289			0		65,208
Provision (credit)		139,463			427,124			41,866		231,602			60,425			25,653			120,368		1,046,501
ALL ending balance	$	942,751		$	3,626,570		$	41,866	$	1,496,522		$	326,716		$	55,277		$	298,406	$	6,788,108
ALL evaluated for impairment
Individually	$	0		$	0		$	0	$	111,435		$	361		$	0		$	0	$	111,796
Collectively		942,751			3,626,570			41,866		1,385,087			326,355			55,277			298,406		6,676,312
Total	$	942,751		$	3,626,570		$	41,866	$	1,496,522		$	326,716		$	55,277		$	298,406	$	6,788,108
Loans evaluated for impairment
Individually	$	374,558		$	1,822,625		$	0	$	4,724,624		$	147,909		$	0				$	7,069,716
Collectively		197,262,655			278,673,282			52,332,802		160,280,121			38,456,087			4,173,109					731,178,056
Total	$	197,637,213		$	280,495,907		$	52,332,802	$	165,004,745		$	38,603,996		$	4,173,109				$	738,247,772

									Residential			Residential
	Commercial			Commercial					Real Estate			Real Estate
	& Industrial			Real Estate			Municipal		1st Lien			Jr Lien			Consumer			Unallocated		Total
ALL beginning balance	$	697,469		$	3,019,868		$	0	$	1,421,494		$	273,445		$	56,787		$	133,478	$	5,602,541
Charge-offs		(175,815	)		(116,186	)		0		(242,244	)		(222,999	)		(102,815	)		0		(860,059	)
Recoveries		10,768			50,388			0		15,776			2,200			38,710			0		117,842
Provision		304,344			227,576			0		193,538			237,038			59,111			44,560		1,066,167
ALL ending balance	$	836,766		$	3,181,646		$	0	$	1,388,564		$	289,684		$	51,793		$	178,038	$	5,926,491
ALL evaluated for impairment
Individually	$	0		$	0		$	0	$	103,836		$	712		$	0		$	0	$	104,548
Collectively		836,766			3,181,646			0		1,284,728			288,972			51,793			178,038		5,821,943
Total	$	836,766		$	3,181,646		$	0	$	1,388,564		$	289,684		$	51,793		$	178,038	$	5,926,491
Loans evaluated for impairment
Individually	$	420,933		$	1,699,238		$	0	$	4,471,902		$	156,073		$	0				$	6,748,146
Collectively		98,509,898			244,583,488			55,817,206		153,865,394			43,074,800			4,390,005					600,240,791
Total	$	98,930,831		$	246,282,726		$	55,817,206	$	158,337,296		$	43,230,873		$	4,390,005				$	606,988,937

									Residential			Residential
	Commercial			Commercial					Real Estate			Real Estate
	& Industrial			Real Estate			Municipal		1st Lien			Jr Lien			Consumer			Unallocated			Total
ALL beginning balance	$	715,132		$	3,094,781		$	0	$	1,427,357		$	287,984		$	53,410		$	145,089		$	5,723,753
Charge-offs		(6,795	)		(101,476	)		0		(147,724	)		0			(11,338	)		0			(267,333	)
Recoveries		1,690			0			0		1,059			485			11,489			0			14,723
Provision (credit)		133,632			272,858			0		130,189			(3,402	)		(454	)		(120,324	)		412,499
ALL ending balance	$	843,659		$	3,266,163		$	0	$	1,410,881		$	285,067		$	53,107		$	24,765		$	5,883,642

									Residential			Residential
	Commercial			Commercial					Real Estate			Real Estate
	& Industrial			Real Estate			Municipal		1st Lien			Jr Lien			Consumer			Unallocated			Total
ALL beginning balance	$	697,469		$	3,019,868		$	0	$	1,421,494		$	273,445		$	56,787		$	133,478		$	5,602,541
Charge-offs		(10,368	)		(116,186	)		0		(242,244	)		(102,000	)		(70,959	)		0			(541,757	)
Recoveries		10,768			0			0		11,131			1,486			32,805			0			56,190
Provision (credit)		145,790			362,481			0		220,500			112,136			34,474			(108,713	)		766,668
ALL ending balance	$	843,659		$	3,266,163		$	0	$	1,410,881		$	285,067		$	53,107		$	24,765		$	5,883,642

Impaired loans by segment

	As of September 30,  2020
			Unpaid				Average		Average		Interest
	Recorded		Principal		Related		Recorded		Recorded		Income
	Investment(1)		Balance		Allowance		Investment(1)(2)		Investment(1)(3)		Recognised(3)
Related allowance recorded
Residential real estate
1st lien	$	1,166,549	$	1,207,778	$	111,435	$	1,015,521	$	969,485	$	81,313
Jr lien		5,083		5,079		361		5,249		5,576		415
Total with related allowance		1,171,632		1,212,857		111,796		1,020,770		975,061		81,728
No related allowance recorded
Commercial & industrial		374,558		410,356				379,147		392,854		4,077
Commercial real estate		1,823,015		2,213,788				1,718,560		1,697,035		10,989
Residential real estate
1st lien		3,592,591		4,378,079				3,911,876		3,818,241		148,099
Jr lien		142,829		180,016				114,830		172,117		0
Total with no related allowance		5,932,993		7,182,239				6,124,413		6,080,247		163,165
Total impaired loans	$	7,104,625	$	8,395,096	$	111,796	$	7,145,183	$	7,055,308	$	244,893

	As of December 31, 2019
			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment(1)		Balance		Allowance		Investment(1)(2)		Recognized(2)
Related allowance recorded
Commercial & industrial	$	0	$	0	$	0	$	32,466	$	0
Commercial real estate		0		0		0		97,720		0
Residential real estate
1st lien		878,439		902,000		103,836		982,158		86,039
Jr lien		6,121		6,101		712		6,869		648
Total with related allowance		884,560		908,101		104,548		1,119,213		86,687
No related allowance recorded
Commercial & industrial		420,933		445,509				307,208		6,396
Commercial real estate		1,699,772		2,031,764				1,812,836		21,591
Residential real estate
1st lien		3,614,960		4,273,884				3,778,822		212,883
Jr lien		149,972		157,754				224,938		4,524
Total with no related allowance		5,885,637		6,908,911				6,123,804		245,394
Total impaired loans	$	6,770,197	$	7,817,012	$	104,548	$	7,243,017	$	332,081

	As of September 30, 2019
			Unpaid				Average		Average		Interest
	Recorded		Principal		Related		Recorded		Recorded		Income
	Investment		Balance		Allowance		Investment (1)(2)		Investment (1)(3)		Recognized(3)
Related allowance recorded
Commercial & industrial	$	162,330	$	162,330	$	95,945	$	81,165	$	40,583	$	0
Commercial real estate		0		0		0		0		122,150		0
Residential real estate
1st lien		1,114,686		1,135,476		107,526		1,089,372		1,008,088		70,281
Jr lien		7,346		109,333		1,709		7,010		7,056		495
Total with related allowance		1,284,362		1,407,139		205,180		1,177,547		1,177,877		70,776
No related allowance recorded
Commercial & industrial		407,841		426,051				507,336		278,776		4,077
Commercial real estate		1,849,859		2,273,987				1,951,505		1,841,103		13,223
Residential real estate
1st lien		4,035,429		4,808,932				4,108,857		3,819,787		164,274
Jr lien		173,184		222,339				183,283		243,679		0
Total with no related allowance		6,466,313		7,731,309				6,750,981		6,183,345		181,574
Total impaired loans	$	7,750,675	$	9,138,448	$	205,180	$	7,928,528	$	7,361,222	$	252,350

Risk ratings portfolio

							Residential		Residential
	Commercial		Commercial				Real Estate		Real Estate
	& Industrial		Real Estate		Municipal		1st Lien		Jr Lien		Consumer		Total
Group A	$	193,211,148	$	265,481,081	$	52,332,802	$	161,517,042	$	38,248,147	$	4,173,109	$	714,963,329
Group B		2,820,738		9,586,638		0		0		0		0		12,407,376
Group C		1,605,327		5,428,188		0		3,487,703		355,849		0		10,877,067
Total	$	197,637,213	$	280,495,907	$	52,332,802	$	165,004,745	$	38,603,996	$	4,173,109	$	738,247,772

							Residential		Residential
	Commercial		Commercial				Real Estate		Real Estate
	& Industrial		Real Estate		Municipal		1st Lien		Jr Lien		Consumer		Total
Group A	$	93,774,871	$	233,702,063	$	55,817,206	$	154,770,678	$	42,725,543	$	4,390,005	$	585,180,366
Group B		3,295,223		4,517,811		0		0		0		0		7,813,034
Group C		1,860,737		8,062,852		0		3,566,618		505,330		0		13,995,537
Total	$	98,930,831	$	246,282,726	$	55,817,206	$	158,337,296	$	43,230,873	$	4,390,005	$	606,988,937

Loans modified as TDRs

Three months ended September 30, 2020

Nine months ended September 30, 2020

Pre-

Post-

Pre-

Post-

Modification

Modification

Modification

Modification

Outstanding

Outstanding

Outstanding

Outstanding

Number of

Recorded

Recorded

Number of

Recorded

Recorded

Contracts

Investment

Investment

Contracts

Investment

Investment

Residential real estate

1st lien

1

$

54,318

$

57,053

6

$

591,826

$

687,751

	Year ended December 31, 2019
			Pre-		Post-
			Modification		Modification
			Outstanding		Outstanding
	Number of		Recorded		Recorded
	Contracts		Investment		Investment
Commercial & industrial		6	$	371,358	$	372,259
Commercial real estate		1		19,266		21,628
Residential real estate
1st lien		6		755,476		798,800
Jr lien		1		55,557		57,415
		14	$	1,201,657	$	1,250,102

	Three months ended September 30, 2019						Nine months ended September 30, 2019
			Pre-		Post-				Pre-		Post-
			Modification		Modification				Modification		Modification
			Outstanding		Outstanding				Outstanding		Outstanding
	Number of		Recorded		Recorded		Number of		Recorded		Recorded
	Contracts		Investment		Investment		Contracts		Investment		Investment
Commercial & industrial		1	$	288,912	$	288,912		3	$	338,129	$	338,129
Commercial real estate		0		0		0		1		19,265		21,628
Residential real estate
1st lien		1		20,984		31,598		5		530,330		569,800
Total		2	$	309,896	$	320,510		9	$	887,724	$	929,557

TDRs payment default

	Number of		Recorded
	Contracts		Investment
Commercial & industrial		3	$	25,720
Residential real estate - 1st lien		3		408,505
Residential real estate - Jr lien		1		50,095
		7	$	484,320

	Number of		Recorded
	Contracts		Investment
Commercial & industrial		2	$	27,818
Residential real estate
1st lien		1		227,907
Jr lien		1		55,010
		4	$	310,735

	Number of		Recorded
	Contracts		Investment
Commercial real estate		1	$	376,864

Specific allowances

	September 30,		December 31,
	2020		2019
Specific Allocation	$	111,796	$	104,548