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LOANS AND RELATED ALLOWANCE FOR CREDIT LOSSES (Tables)
 12 Months Ended
Dec. 31, 2023
LOANS AND RELATED ALLOWANCE FOR CREDIT LOSSES [Abstract]  
Loan Portfolio and Allowance for Credit Losses The following table summarizes the primary segments of the loan portfolio, as well as how those segments are analyzed within the allowance for credit losses as of December 31, 2023 and 2022 (in thousands):


 
December 31,
 

  2023
     2022
  
Real estate loans:
            
Residential
  
$
359,990
     $ 210,213  
Commercial
    
1,092,887
       876,569  
Agricultural
    
314,802
       313,614  
Construction
    
195,826
       80,691  
Consumer
    
61,316
       86,650  
Other commercial loans
    
136,168
       63,222  
Other agricultural loans
    
30,673
       34,832  
State and political subdivision loans
    
57,174
       59,208  
Total
    
2,248,836
       1,724,999  
Allowance for credit losses - loans
    
21,153
       18,552  
Net loans
  
$
2,227,683
     $
 1,706,447  
Components of the Allowance for Credit Losses

The following table presents the components of the allowance for credit losses as of December 31, 2023 (in thousands):

   
2023
  
Allowance for Credit Losses - Loans
  
$
21,153
  
Allowance for Credit Losses - Off-Balance Sheet credit Exposure
    
1,265
  
Total allowance for credit losses
  
$
22,418
  
The following table presents the components of the allowance for credit losses as of December 31, 2022 (in thousands):

   
December 31, 2022
  
Allowance for loan Losses
  
$
18,552
  
Reserve for unfunded commitments
    
165
  
Total allowance for credit losses
  
$
18,717
  
Activity in Allowance for Credit Losses

The following table presents the activity in the allowance for credit losses for 2023 (in thousands):

   
Allowance for Credit
Losses -Loans
    
Allowance for Credit Losses - Off-
Balance Sheet credit Exposure
    
Total
  
Balance at December 31, 2022
  
$
18,552
    
$
165
    
$
18,717
  
Impact of adopting CECL
    
(3,300
)
    
1,064
      
(2,236
)
Allowance for credit loss on PCD acquired loans
    
1,689
      
-
      
1,689
  
Loans charge-off
    
(1,329
)
    
-
      
(1,329
)
Recoveries of loans previously charged-off
    
49
      
-
      
49
  
Net loans charged-off
    
(1,280
)
    
-
      
(1,280
)
Provision for credit losses - acquisition day 1 non-PCD
    
4,591
      
-
      
4,591
  
Provision for credit losses
    
901
      
36
      
937
  
Balance at December 31, 2023
  
$
21,153
    
$
1,265
    
$
22,418
  

The following table presents the activity in the allowance for credit losses for 2022 (in thousands):

   
Allowance for Credit Losses - Loans
    
Reserve for unfunded commitments
   
Total
  
Balance at December 31, 2021
  
$
17,304
    
$
165
    
$
17,469
  
Loans charge-off
    
(472
)
    
-
      
(472
)
Recoveries of loans previously charged-off
    
37
      
-
      
37
  
Net loans charged-off
    
(435
)
    
-
      
(435
)
Provision for credit losses
    
1,683
      
-
      
1,683
  
Balance at December 31, 2022
  
$
18,552
    
$
165
    
$
18,717
  
Activity of Allowance for Credit Losses - Loans by Portfolio Segment

The following tables presents the activity in the allowance for credit losses – loans, by portfolio segment, for 2023 (in thousands).

   
Balance at
December 31,
2022
    
Impact of
adopting
CECL
    
Allowance for
credit loss on
PCD acquired
loans
    
Charge-
offs
    
Recoveries
    
Provision
    
Balance at
December 31,
2023
  
Real estate loans:
                                          
Residential
  
$
1,056
    
$
79
    
$
108
    
$
(1
)
  
$
-
    
$
1,112
    
$
2,354
  
Commercial
    
10,120
      
(3,070
)
    
39
      
-
      
-
      
2,089
      
9,178
  
Agricultural
    
4,589
      
(1,145
)
    
-
      
-
      
-
      
(180
)
    
3,264
  
Construction
    
801
      
(103
)
     37      
-
      
-
      
1,215
      
1,950
  
Consumer
    
135
      
1,040
      
677
      
(365
)
    
40
      
(31
)
    
1,496
  
Other commercial loans
    
1,040
      
(328
)
    
828
      
(963
)
    
9
      
1,643
      
2,229
  
Other agricultural loans
    
489
      
(219
)
    
-
      
-
      
-
      
-
   
270
  
State and political subdivision loans
    
322
      
(280
)
    
-
      
-
      
-
      
3
      
45
  
Unallocated
    
-
      
726
      
-
      
-
      
-
      
(359
)
    
367
  
Total
  
$
18,552
    
$
(3,300
)
  
$
1,689
    
$
(1,329
)
  
$
49
    
$
5,492
    
$
21,153
  
 

The following table presents the activity in the allowance for loan losses, by portfolio segment, for 2022 and 2021 (in thousands).

   
Balance at
December 31, 2021
    
Charge-offs
    
Recoveries
    
Provision
    
Balance at
December 31, 2022
  
Real estate loans:
                              
Residential
  
$
1,147
    
$
-
    
$
-
    
$
(91
)
  
$
1,056
  
Commercial
    
8,099
      
-
      
3
      
2,018
      
10,120
  
Agricultural
    
4,729
      
-
      
-
      
(140
)
    
4,589
  
Construction
    
434
      
-
      
-
      
367
      
801
  
Consumer
    
262
      
(37
)
    
21
      
(111
)
    
135
  
Other commercial loans
    
1,023
      
(435
)
    
13
      
439
      
1,040
  
Other agricultural loans
    
558
      
-
      
-
      
(69
)
    
489
  
State and political subdivision loans
    
281
      
-
      
-
      
41
      
322
  
Unallocated
    
771
      
-
      
-
      
(771
)
    
-
  
Total
  
$
17,304
    
$
(472
)
  
$
37
    
$
1,683
    
$
18,552
  

 2022  
Balance at
December 31, 2020
     Charge-offs     Recoveries     Provision    
Balance at
December 31, 2021
  
Real estate loans:                              
Residential
   $ 1,174     $ -     $ -     $ (27 )   $ 1,147  
Commercial
     6,216       (54 )     89       1,848       8,099  
Agricultural
     4,953       -       -       (224 )     4,729  
Construction
     122       -       -       312       434  
Consumer     321       (27 )     21       (53 )     262  
Other commercial loans
     1,226       (133 )     43       (113 )     1,023  
Other agricultural loans
     864       -       -       (306 )     558  
State and political subdivision loans
     479       -       -       (198 )     281  
Unallocated
     460       -       -       311       771  
Total   $ 15,815     $ (214 )   $ 153     $ 1,550     $ 17,304  
Loans and Allowance for Credit Losses by Portfolio Segment

The following table presents loans and the allowance for credit losses by portfolio segment, under CECL methodology as of December 31, 2023 (in thousands):

Allowance for Credit Losses - Loans
Loans
2023
Collectively
evaluated
Individually
evaluated
Total
Allowance for
Credit Losses
- Loans
Collectively
evaluated
Individually
evaluated

Total Loans
Real estate loans:
Residential
$
2,285
$
69
$
2,354
$
358,358
$
1,632
$
359,990
Commercial
9,033
145
9,178
1,090,217
2,670
1,092,887
Agricultural
3,247
17
3,264
311,500
3,302
314,802
Construction
1,664
286
1,950
193,469
2,357
195,826
Consumer
557
939
1,496
60,377
939
61,316
Other commercial loans
1,713
516
2,229
134,472
1,696
136,168
Other agricultural loans
270
-
270
30,388
285
30,673
State and political subdivision loans
45
-
45
57,174
-
57,174
Unallocated
367
-
367
-
-
-
Total
$
19,181
$
1,972
$
21,153
$
2,236,955
$
12,881
$
2,248,836
 


The following table presents loans and their related allowance for loan losses, by portfolio segment, as of December 31, 2022 (in thousands):

   
Allowance for loan losses
    
Loans
  


 
2022
  
Collectively
evaluated for
impairment
    
Individually
evaluated for
impairment
    
Total allowance for
loan losses
    
Collectively
evaluated
for
impairment
    
Individually
evaluated
for
impairment
    
Loans
acquired with
deteriorated
credit quality
    
Total
Loans
  
Real estate loans:
                                          
Residential
  
$
1,052
    
$
4
    
$
1,056
    
$
209,869
    
$
335
    
$
9
    
$
210,213
  
Commercial
    
10,063
      
57
      
10,120
      
869,038
      
5,675
      
1,856
      
876,569
  
Agricultural
    
4,565
      
24
      
4,589
      
306,793
      
5,380
      
1,441
      
313,614
  
Construction
    
801
      
-
      
801
      
80,691
      
-
      
-
      
80,691
  
Consumer
    
131
      
4
      
135
      
86,646
      
4
      
-
      
86,650
  
Other commercial loans
    
1,027
      
13
      
1,040
      
63,120
      
102
      
-
      
63,222
  
Other agricultural loans
    
489
      
-
      
489
      
34,359
      
473
      
-
      
34,832
  
State and political subdivision loans
    
322
      
-
      
322
      
59,208
      
-
      
-
      
59,208
  
Total
  
$
18,450
    
$
102
    
$
18,552
    
$
1,709,724
    
$
11,969
    
$
3,306
    
$
1,724,999
  
Impaired Loan Receivables with Associated Allowance Amount

Information presented in the following tables is not required for periods after the adoption of CECL. The following table includes the recorded investment and unpaid principal balances for impaired loans by class, with the associated allowance amount as of December 31, 2022, if applicable (in thousands):


 
    
Recorded
  
Recorded
          
 
Unpaid
  
Investment
  
Investment
  
Total
      
 
Principal
  
With No
  
With
  
Recorded
  
Related
  
2022
Balance
  
Allowance
  
Allowance
  
Investment
  
Allowance
  
Real estate loans:
                    
     Mortgages
  
$
395
    
$
242
    
$
39
    
$
281
    
$
4
  
     Home Equity
    
71
      
39
      
15
      
54
      
-
  
     Commercial
    
6,655
      
5,314
      
361
      
5,675
      
57
  
     Agricultural
    
6,062
      
5,192
      
188
      
5,380
      
24
  
Consumer
    
4
      
-
      
4
      
4
      
4
  
Other commercial loans
    
797
      
32
      
70
      
102
      
13
  
Other agricultural loans
    
669
      
473
      
-
      
473
      
-
  
Total
  
$
14,653
    
$
11,292
    
$
677
    
$
11,969
    
$
102
  

 

The following table includes the average investment in impaired loans and the income recognized on impaired loans for 2022 and 2021 (in thousands):

 

              
Interest
  
 
  
Average
    
Interest
    
Income
  
 
  
Recorded
    
Income
    
Recognized
  
2022
  
Investment
    
Recognized
    
Cash Basis
  
Real estate loans:
                  
     Mortgages
  
$
421
    
$
12
    
$
-
  
     Home Equity
    
64
      
4
      
-
  
     Commercial
    
6,216
      
207
      
10
  
     Agricultural
    
5,540
      
126
      
-
  
Consumer
    
1
      
-
      
-
  
Other commercial loans
    
260
      
3
      
-
  
Other agricultural loans
    
538
      
4
      
-
  
Total
  
$
13,040
    
$
356
    
$
10
  
 
                        
2021
                        
Real estate loans:
                        
     Mortgages
  
$
682
    
$
16
    
$
-
  
     Home Equity
    
99
      
4
      
-
  
     Commercial
    
8,789
      
288
      
31
  
     Agricultural
    
4,562
      
82
      
-
  
Other commercial loans
    
704
      
2
      
-
  
Other agricultural loans
    
1,044
      
3
      
-
  
Total
  
$
15,880
    
$
395
    
$
31
  
Loan Receivables on Nonaccrual Status

The following table reflects the non-performing loan receivables, as well as those on non-accrual status as of December 31, 2023 and 2022, respectively. The balances are presented by class of loan receivable (in thousands):

   
December 31, 2023
    
December 31, 2022
  
   
Nonaccrual
With a
related
allowance
    
Nonaccrual
Without a
related
allowance
    
90 days or
greater past
 due and
accruing
    
Total non-
performing
loans
    
Nonaccrual
    
90 days or
greater past
due and
accruing
    
Total
non-
performing
loans
  
Real estate loans:
                                          
Mortgages
  
$
315
    
$
2,646
    
$
-
    
$
2,961
    
$
562
    
$
-
    
$
562
  
Home Equity
    
-
      
121
      
18
      
139
      
29
      
-
      
29
  
Commercial
    
256
      
879
      
404
      
1,539
      
2,778
      
-
      
2,778
  
Agricultural
    
181
      
2,489
      
75
      
2,745
      
3,222
      
-
      
3,222
  
Construction
    
2,357
      
-
      
-
      
2,357
      
-
      
-
      
-
  
Consumer
    
701
      
-
      
13
      
714
      
-
      
7
      
7
  
Other commercial loans
    
588
      
1,162
      
6
      
1,756
      
62
      
-
      
62
  
Other agricultural loans
    
-
      
492
      
-
      
492
      
285
      
-
      
285
  
   
$
4,398
    
$
7,789
    
$
516
    
$
12,703
    
$
6,938
    
$
7
    
$
6,945
  
 
Amortized Cost Basis of Collateral-Dependent Nonaccrual Loans and Leases

The following table presents, by class of loans and leases, the amortized cost basis of collateral-dependent nonaccrual loans and leases and type of collateral as of  December 31, 2023 and 2022 (in thousands):

    December 31, 2023     December 31, 2022  

 
Real Estate
    
Business
Assets
    
None
    
Total
     Real Estate
    
Business
Assets
     None
     Total
  
Real estate loans:
                                                
Mortgages
  
$
2,961
    
$
-
    
$
-
    
$
2,961
     $ 562     $ -     $ -     $ 562  
Home Equity
    
121
      
-
      
-
      
121
       29       -       -       29  
Commercial
    
1,135
      
-
      
-
      
1,135
       2,778       -       -       2,778  
Agricultural
    
2,670
      
-
      
-
      
2,670
       3,222       -       -       3,222  
Construction
    
2,357
      
-
      
-
      
2,357
       -       -       -       -  
Consumer
    
-
      
-
      
701
      
701
       -       -       -       -  
Other commercial loans
    
-
      
1,750
      
-
      
1,750
       -       62       -       62  
Other agricultural loans
    
-
      
492
      
-
      
492
       -       285       -       285  
   
$
9,244
    
$
2,242
    
$
701
    
$
12,187
     $
 6,591     $
 347     $
 -     $
 6,938  
Financing Receivable Credit Exposures by Internally Assigned Grades, by Origination Year

The following tables represent credit exposures by internally assigned grades, by origination year, as of December 31, 2023 (in thousands):

                                       
Revolving
    
Revolving
        
         
Loans
    
Loans
        
                                       
Amortized
    
Converted
        
December 31, 2023
  
2023
    
2022
    
2021
    
2020
    
2019
    
Prior
    
Cost Basis
    
to Term
    
Total
  
Commercial real estate
                                                      
Risk Rating
                                                      
Pass
  
$
90,068
    
$
333,710
    
$
224,873
    
$
122,560
    
$
81,557
    
$
180,799
    
$
28,360
    
$
1,140
    
$
1,063,067
  
Special Mention
    
672
      
7,963
      
227
      
1,552
      
7,442
      
8,159
      
96
      
60
      
26,171
  
Substandard
    
-
      
1,302
      
6
      
-
      
158
      
1,444
      
317
      
422
      
3,649
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
90,740
    
$
342,975
    
$
225,106
    
$
124,112
    
$
89,157
    
$
190,402
    
$
28,773
    
$
1,622
    
$
1,092,887
  
Current period gross charge-offs
  
$
-
   
$
 -
 		   
$
 -
 		   
$
 -
 		   
$
 -
 		   
$
 -
 		   
$
 -
 		   
$
 -
 		   
$
 -
 		 
                                                                         
Agricultural real estate
                                                                        
Risk Rating
                                                                        
Pass
  
$
22,632
    
$
47,479
    
$
28,990
    
$
32,058
    
$
25,406
    
$
118,700
    
$
10,495
    
$
460
    
$
286,220
  
Special Mention
    
574
      
9,165
      
1,499
      
-
      
962
      
7,038
      
3,535
      
-
      
22,773
  
Substandard
    
-
      
-
      
-
      
-
      
102
      
5,394
      
75
      
238
      
5,809
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
23,206
    
$
56,644
    
$
30,489
    
$
32,058
    
$
26,470
    
$
131,132
    
$
14,105
    
$
698
    
$
314,802
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Construction
                                    
-
                                  
Risk Rating
                                                                        
Pass
  
$
54,973
    
$
102,562
    
$
22,508
    
$
-
    
$
-
    
$
-
    
$
839
    
$
1,166
    
$
182,048
  
Special Mention
    
1,574
      
5,432
      
4,415
      
-
      
-
      
-
      
-
      
-
      
11,421
  
Substandard
    
-
      
-
      
2,357
      
-
      
-
      
-
      
-
      
-
      
2,357
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
56,547
    
$
107,994
    
$
29,280
    
$
-
    
$
-
    
$
-
    
$
839
    
$
1,166
    
$
195,826
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Other commercial loans
                                    
-
                                  
Risk Rating
                                                                        
Pass
  
$
31,493
    
$
11,407
    
$
9,016
    
$
4,793
    
$
4,758
    
$
3,530
    
$
63,285
    
$
93
    
$
128,375
  
Special Mention
    
51
      
52
      
1,510
      
184
      
223
      
629
      
1,652
      
36
      
4,337
  
Substandard
    
52
      
97
      
-
      
-
      
149
      
967
      
502
      
1,667
      
3,434
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
22
      
22
  
Total
  
$
31,596
    
$
11,556
    
$
10,526
    
$
4,977
    
$
5,130
    
$
5,126
    
$
65,439
    
$
1,818
    
$
136,168
  
Current period gross charge-offs
  
$
200
    
$
-
    
$
-
    
$
763
    
$
-
    
$
-
    
$
-
    
$
-
    
$
963
  
                                                                         
Other agricultural loans
                                    
-
                                  
Risk Rating
                                                                        
Pass
  
$
3,902
    
$
1,520
    
$
6,448
    
$
1,046
    
$
532
    
$
305
    
$
15,331
    
$
-
    
$
29,084
  
Special Mention
    
-
      
473
      
16
      
42
      
-
      
-
      
488
      
29
      
1,048
  
Substandard
    
-
      
-
      
207
      
-
      
4
      
255
      
44
      
31
      
541
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
3,902
    
$
1,993
    
$
6,671
    
$
1,088
    
$
536
    
$
560
    
$
15,863
    
$
60
    
$
30,673
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
State and political subdivision loans
                                    
-
                                  
Risk Rating
                                                                        
Pass
  
$
1,623
    
$
14,171
    
$
10,841
    
$
5,235
    
$
-
    
$
25,294
    
$
10
    
$
-
    
$
57,174
  
Special Mention
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
1,623
    
$
14,171
    
$
10,841
    
$
5,235
    
$
-
    
$
25,294
    
$
10
    
$
-
    
$
57,174
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Total
                                    
-
                                  
Risk Rating
                                                                        
Pass
  
$
204,691
    
$
510,849
    
$
302,676
    
$
165,692
    
$
112,253
    
$
328,628
    
$
118,320
    
$
2,859
    
$
1,745,968
  
Special Mention
    
2,871
      
23,085
      
7,667
      
1,778
      
8,627
      
15,826
      
5,771
      
125
      
65,750
  
Substandard
    
52
      
1,399
      
2,570
      
-
      
413
      
8,060
      
938
      
2,358
      
15,790
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
22
      
22
  
Total
  
$
207,614
    
$
535,333
    
$
312,913
    
$
167,470
    
$
121,293
    
$
352,514
    
$
125,029
    
$
5,364
    
$
1,827,530
  


Information presented in the table above is not required for periods prior to adoption of CECL. The following table presents the most comparable information for the prior period, internal credit risk ratings for the indicated loan class segments as of December 31, 2022 (in thousands).

December 31, 2022
  
Pass
    
Special Mention
    
Substandard
    
Doubtful
    
Loss
    
Ending Balance
  
Real estate loans:
                                    
Commercial
  
$
842,912
    
$
28,047
    
$
5,610
    
$
-
    
$
-
    
$
876,569
  
Agricultural
    
295,443
      
11,960
      
6,211
      
-
      
-
      
313,614
  
Construction
    
75,703
      
2,642
      
2,346
      
-
      
-
      
80,691
  
Other commercial loans
    
59,902
      
2,953
      
337
      
30
      
-
      
63,222
  
Other agricultural loans
    
32,708
      
1,307
      
817
      
-
      
-
      
34,832
  
State and political subdivision loans
    
59,208
      
-
      
-
      
-
      
-
      
59,208
  
Total
  
$
1,365,876
    
$
46,909
    
$
15,321
    
$
30
    
$
-
    
$
1,428,136
  


For residential real estate mortgage loans, home equity loans, and consumer loans, credit quality is monitored based on whether the loan is performing or non-performing, which is typically based on the aging status of the loan and payment activity, unless a specific action, such as bankruptcy, repossession, death or significant delay in payment occurs to raise awareness of a possible credit event. Non-performing loans include those loans that are considered nonaccrual, described in more detail above, and all loans past due 90 or more days and still accruing. The following table presents the recorded investment in those loan classes based on payment activity, by origination year, as of December 31, 2023 (in thousands):

                                       
Revolving
    
Revolving
        
         
Loans
    
Loans
        
                                       
Amortized
    
Converted
        
December 31, 2023
  
2023
    
2022
    
2021
    
2020
    
2019
    
Prior
    
Cost Basis
    
to Term
    
Total
  
Residential real estate
                                                      
Payment Performance
                                                      
Performing
  
$
19,082
    
$
93,706
    
$
47,774
    
$
29,940
    
$
18,923
    
$
97,813
    
$
-
    
$
-
    
$
307,238
  
Nonperforming
    
-
      
399
      
766
      
396
      
-
      
1,400
      
-
      
-
      
2,961
  
Total
  
$
19,082
    
$
94,105
    
$
48,540
    
$
30,336
    
$
18,923
    
$
99,213
    
$
-
    
$
-
    
$
310,199
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
1
    
$
-
    
$
-
    
$
1
  
                                                                         
Home equity
                                    
-
                                  
Payment Performance
                                                                        
Performing
  
$
3,877
    
$
3,008
    
$
1,886
    
$
1,954
    
$
2,462
    
$
7,883
    
$
28,219
    
$
363
    
$
49,652
  
Nonperforming
    
-
      
-
      
-
      
-
      
-
      
72
      
67
      
-
      
139
  
Total
  
$
3,877
    
$
3,008
    
$
1,886
    
$
1,954
    
$
2,462
    
$
7,955
    
$
28,286
    
$
363
    
$
49,791
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Consumer
                                    
-
                                  
Payment Performance
                                                                        
Performing
  
$
1,803
    
$
979
    
$
539
    
$
477
    
$
557
    
$
2,988
    
$
53,254
    
$
5
    
$
60,602
  
Nonperforming
    
-
      
21
      
-
      
-
      
-
      
693
      
-
      
-
      
714
  
Total
  
$
1,803
    
$
1,000
    
$
539
    
$
477
    
$
557
    
$
3,681
    
$
53,254
    
$
5
    
$
61,316
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
1
    
$
341
    
$
23
    
$
-
    
$
365
  
                                                                         
Total
                                    
-
                                  
Payment Performance
                                                                        
Performing
  
$
24,762
    
$
97,693
    
$
50,199
    
$
32,371
    
$
21,942
    
$
108,684
    
$
81,473
    
$
368
    
$
417,492
  
Nonperforming
    
-
      
420
      
766
      
396
      
-
      
2,165
      
67
      
-
      
3,814
  
Total
  
$
24,762
    
$
98,113
    
$
50,965
    
$
32,767
    
$
21,942
    
$
110,849
    
$
81,540
    
$
368
    
$
421,306
  


Information presented in the table above is not required for periods prior to adoption of CECL. The following table presents the most comparable information for the prior period, internal credit risk ratings for the indicated loan class segments as of December 31, 2022 (in thousands).

December 31, 2022
  
Performing
    
Non-performing
    
PCI
    
Total
  
Real estate loans:
                        
Mortgages
  
$
161,998
    
$
562
    
$
9
    
$
162,569
  
Home Equity
    
47,615
      
29
      
-
      
47,644
  
Consumer
    
86,643
      
7
      
-
      
86,650
  
Total
  
$
296,256
    
$
598
    
$
9
    
$
296,863
  
Aging Analysis of Past Due Loan Receivables

Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following table includes an aging analysis of the recorded investment of past due loan receivables as of December 31, 2023 and 2022 (in thousands):

   
30-59 Days
    
60-89 Days
    
90 Days Or
   
Total Past
          
Total Loans
    
90 Days or
Greater and
  
December 31, 2023
  
Past Due
    
Past Due
    
Greater
    
Due
    
Current
    
Receivables
    
Accruing
  
Real estate loans:
                                          
Mortgages
  
$
2,682
    
$
360
    
$
2,240
    
$
5,282
    

304,917
    
$
310,199
    
$
-
  
Home Equity
    
145
      
67
      
71
      
283
      
49,508
      
49,791
      
18
  
Commercial
    
1,151
      
245
      
1,380
      
2,776
      
1,090,111
      
1,092,887
      
404
  
Agricultural
    
72
      
-
      
1,440
      
1,512
      
313,290
      
314,802
      
75
  
Construction
    
4,407
      
388
      
2,357
      
7,152
      
188,674
      
195,826
      
-
  
Consumer
    
16
      
282
      
23
      
321
      
60,995
      
61,316
      
13
  
Other commercial loans
    
670
      
366
      
319
      
1,355
      
134,813
      
136,168
      
6
  
Other agricultural loans
    
108
      
362
      
-
      
470
      
30,203
      
30,673
      
-
  
State and political
subdivision loans
    
-
      
-
      
-
      
-
      
57,174
      
57,174
      
-
  
Total
  
$
9,251
    
$
2,070
    
$
7,830
    
$
19,151
    
$
2,229,685
    
$
2,248,836
    
$
516
  
                                                         
Loans considered non-accrual
  
$
199
    
$
666
    
$
7,314
    
$
8,179
    
$
4,008
    
$
12,187
          
Loans still accruing
    
9,052
      
1,404
      
516
      
10,972
      
2,225,677
      
2,236,649
          
Total
  
$
9,251
    
$
2,070
    
$
7,830
    
$
19,151
    
$
2,229,685
    
$
2,248,836
          

    30-59 Days
     60-89 Days
     90 Days
     Total Past
                
Total
Loans
    
90 Days or
Greater and
  
December 31, 2022
   Past Due
     Past Due
     Or Greater
     Due
     Current
     PCI
     Receivables
     Accruing
  
Real estate loans:
                                                
Mortgages
  
$
356
    
$
132
    
$
229
    
$
717
    
$
161,843
    
$
9
    
$
162,569
    
$
-
  
Home Equity
    
48
      
9
      
29
      
86
      
47,558
      
-
      
47,644
      
-
  
Commercial
    
1,065
      
115
      
1,788
      
2,968
      
871,745
      
1,856
      
876,569
      
-
  
Agricultural
    
-
      
-
      
1,368
      
1,368
      
310,805
      
1,441
      
313,614
      
-
  
Construction
    
-
      
-
      
-
      
-
      
80,691
      
-
      
80,691
      
-
  
Consumer
    
147
      
-
      
7
      
154
      
86,496
      
-
      
86,650
      
7
  
Other commercial loans
    
1,660
      
35
      
32
      
1,727
      
61,495
      
-
      
63,222
      
-
  
Other agricultural loans
    
-
      
-
      
-
      
-
      
34,832
      
-
      
34,832
      
-
  
State and political subdivision loans
   
-
      
-
      
-
      
-
      
59,208
      
-
      
59,208
      
-
  
Total
  
$
3,276
    
$
291
    
$
3,453
    
$
7,020
    
$
1,714,673
    
$
3,306
    
$
1,724,999
    
$
7
  
                                                                 
Loans considered non-accrual
  
$
46
    
$
76
    
$
3,446
    
$
3,568
    
$
3,370
    
$
-
    
$
6,938
          
Loans still accruing
    
3,230
      
215
      
7
      
3,452
      
1,711,303
      
3,306
      
1,718,061
          
Total
  
$
3,276
    
$
291
    
$
3,453
    
$
7,020
    
$
1,714,673
    
$
3,306
    
$
1,724,999
          
Modifications to Borrowers Experiencing Financial Difficulty

The following table shows, the amortized cost basis by class of loans receivable, information regarding accruing and nonaccrual modified loans to borrowers experiencing financial difficulty during 2023 (dollars in thousands):

   
For the year ended December 31, 2023
  
   
Number of loans
    
Amortized Cost Basis
    
% of Total Class of Financing Receivable
  
Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
  
Real estate loans:
              
Mortgages
    
1
    
$
126
      
0.04
%
Commercial
    
4
      
1,142
      
0.10
%
Agricultural
    
3
      
688
      
0.22
%
Other commercial loans
    1       610       0.45 %
Total
    
9
    
$
2,566
          
                         
Non-Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
  
Real estate loans:
                  
Mortgages
     1     $ 315       0.10 %
Commercial
    
3
      
261
      
0.02
%
Other commercial loans
     5       1,108       0.81 %
Total
    
9
    
$
1,684
          


The following table shows, by class of loans receivable, information regarding the financial effect on accruing and nonaccrual modified loans to borrowers experiencing financial difficulty during 2023:

Term Extension
Loan Type
  
Number of loans
  
Financial Effect
Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
    
Real estate loans:
         
Mortgages
    
1
  
Extended the loan maturity 4 months
Commercial
    
4
  
Extended the weighted average loan maturity 4 months
Agricultural
    
3
  
Extended the weighted average loan maturity 5 months
Other commercial loans
     1   Extended the loan maturity 60 months
Total
    
9
    
             
Non-Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
    
Real estate loans:
           
Mortgages
     1  
Extended the loan maturing 10 months
Commercial
    
3
  
Extended the weighted average loan maturity 5 months
Other commercial loans
     5  
Extended the weighted average loan maturity 13 months
Total
    
9
    


There were no accruing or nonaccrual modified loans to borrowers experiencing financial difficulty for which there were payment defaults after the modification date for 2023.


The following presents, by class of loans, the amortized cost and payment status of accruing and nonaccrual modified loans to borrowers experiencing financial difficulty at December 31, 2023 (in thousands):

         
30-89 Days
    
90 Days
        
Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
  
Current
    
Past Due
    
Or Greater
    
Total
  
Real estate loans:
                        
Mortgages
  
$
126
    
$
-
    
$
-
    
$
126
  
Commercial
    
1,142
      
-
      
-
      
1,142
  
Agricultural
    
688
      
-
      
-
      
688
  
Other commercial loans
    610       -       -       610  
Total
  
$
2,566
    
$
-
    
$
-
    
$
2,566
  

              30-89 Days
      90 Days
         
Non-Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
     Current
      Past Due
      Or Greater
      Total
 
Real estate loans:
                                
Mortgages
   $ 315     $
 -     $ -     $ 315  
Commercial
  

261
    

-
    

-
    

261
  
Other commercial loans
     1,108       -       -       1,108  
    Total
  
$
1,684
    
$
-
    
$
-
    
$
1,684
  
 

 Information presented in the table above is not required for periods prior to adoption of CECL. The following table presents the most comparable information for the prior period for troubled debt restructurings as of December 31, 2022 and 2021 (in thousands).

 
 
  
Number of contracts
    
Pre-modification
Outstanding Recorded
Investment
    
Post-Modification Outstanding Recorded Investment
        
2022
  
Interest Modification
    
Term Modification
    
Interest Modification
    
Term Modification
    
Interest Modification
    
Term Modification
  
 
                                    
Real estate loans:
                                    
     Home Equity
    
-
      
1
    
$
-
    
$
8
    
$
-
    
$
8
  
     Commercial
    
-
      
4
      
-
      
2,301
      
-
      
2,301
  
     Agricultural
    
-
      
2
      
-
      
1,137
      
-
      
1,137
  
Total
    
-
      
7
    
$
-
    
$
3,446
    
$
-
    
$
3,446
  
 
                                                
2021
                                                
Real estate loans:
                                                
     Commercial
    
-
      
4
    
$
-
    
$
1,469
    
$
-
    
$
1,469
  
     Agricultural
    
-
      
4
      
-
      
2,090
      
-
      
2,090
  
Total
    
-
      
8
    
$
-
    
$
3,559
    
$
-
    
$
3,559