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LOANS AND RELATED ALLOWANCE FOR CREDIT LOSSES (Tables)
 12 Months Ended
Dec. 31, 2024
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, 2024 and 2023 (in thousands):


 
December 31,
 

  2024
     2023
  
Real estate loans:
            
Residential
  
$
351,398
     $ 359,990  
Commercial
    
1,121,435
       1,092,887  
Agricultural
    
327,722
       314,802  
Construction
    
164,326
       195,826  
Consumer
    
133,207
       61,316  
Other commercial loans
    
131,310
       136,168  
Other agricultural loans
    
29,662
       30,673  
State and political subdivision loans
    
54,182
       57,174  
Total
    
2,313,242
       2,248,836  
Allowance for credit losses - loans
    
21,699
       21,153  
Net loans
  
$
2,291,543
     $
 2,227,683  
Components of the Allowance for Credit Losses

The following table presents the components of the allowance for credit losses as of December 31, 2024 and 2023 (in thousands):

    December 31,    
 
     2024
   
2023
  
Allowance for Credit Losses - Loans
   $
 21,699
  
  
$
21,153
  
Allowance for Credit Losses - Off-Balance Sheet credit Exposure
      676
      
1,265
  
Total allowance for credit losses
   $  22,375
    
$
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 2024 and 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
  

 

   
Allowance for Credit
Losses -Loans
    
Allowance for Credit Losses - Off-
Balance Sheet credit Exposure
    
Total
  
Balance at December 31, 2023
  
$
21,153
    
$
1,265
    
$
22,418
  
Loans charge-off
    
(2,673
)
    
-
      
(2,673
)
Recoveries of loans previously charged-off
    
43
      
-
      
43
  
Net loans charged-off
    
(2,630
)
    
-
      
(2,630
)
Provision for credit losses
    
3,176
      
(589
)
    
2,587
  
Balance at December 31, 2024
  
$
21,699
    
$
676
    
$
22,375
  

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 2024 and 2023 (in thousands).



   
Balance at
December 31, 2023
    
Charge-offs
    
Recoveries
    
Provision
    
Balance at
December 31, 2024
  
Real estate loans:
                              
Residential
  
$
2,354
    
$
(5
)
  
$
-
    
$
(409
)
  
$
1,940
  
Commercial
    
9,178
      
-
      
-
      
(4
)
    
9,174
  
Agricultural
    
3,264
      
-
      
-
      
265
      
3,529
  
Construction
    
1,950
      
-
      
-
      
(548
)
    
1,402
  
Consumer
    
1,496
      
(107
)
    
22
      
(6
)
    
1,405
  
Other commercial loans
    
2,229
      
(2,561
)
    
21
      
4,010
      
3,699
  
Other agricultural loans
    
270
      
-
      
-
      
(137
)
    
133
  
State and political subdivision loans
    
45
      
-
      
-
      
16
      
61
  
Unallocated
    
367
      
-
      
-
      
(11
)
    
356
  
Total
  
$
21,153
    
$
(2,673
)
  
$
43
    
$
3,176
    
$
21,699
  

   
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 (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
  
Loans and Allowance for Credit Losses by Portfolio Segment

The following table presents loans and the allowance for credit losses by portfolio segment, under the CECL methodology as of December 31, 2024 and 2023 (in thousands):
Allowance for Credit Losses - Loans



2024
Collectively evaluated
 for impairment

Individually
evaluated for
impairment

Total
Allowance for
Credit Losses
- Loans

Collectively
evaluated for
impairment

Loans
Individually
evaluated for
impairment


Total Loans
Real estate loans:

















Residential
$
1,902

$
38

$
1,940

$
349,909

$
1,489

$
351,398
Commercial

9,070


104


9,174


1,105,847


15,588


1,121,435
Agricultural

3,529


-


3,529


323,660


4,062


327,722
Construction

1,402


-


1,402


164,043


283


164,326
Consumer

391


1,014


1,405


132,180


1,027


133,207
Other commercial loans

2,952


747


3,699


128,728


2,582


131,310
Other agricultural loans

133


-


133


29,125


537


29,662
State and political subdivision loans

61


-


61


54,182


-


54,182
Unallocated

356


-


356


-


-


-
Total
$
19,796

$
1,903

$
21,699

$
2,287,674

$
25,568

$
2,313,242

2023





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
$
2,235,955
$
12,881
$
2,248,836
Impaired Loan Receivables with Associated Allowance Amount

Information presented in the following table is not required for periods after the adoption of CECL. The following table includes the average investment in impaired loans and the income recognized on impaired loans for 2022 (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
  
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, 2024 and 2023, respectively. The balances are presented by class of loan receivable (in thousands):

        December 31, 2024          
December 31, 2023         
 
   
Nonaccrual
With a
related
allowance
    
Nonaccrual
Without a
related
allowance
    
90 days or
greater past
due and
accruing
    
Total non-
performing
loans
    
Nonaccrual
With a
related
allowance
    
Nonaccrual
Without a
related
allowance
    
90 days or
greater past
due and
accruing
    
Total
non-
performing
loans
  
Real estate loans:
                                                
Mortgages
  
$
165
    
$
2,541
    
$
-
    
$
2,706
    
$
315
     $
2,646    
$
-
    
$
2,961
  
Home Equity
    
-
      
165
      
-
      
165
      
-
       121      
18
      
139
  
Commercial
    
2,099
      
12,265
      
-
      
14,364
      
256
       879      
404
      
1,539
  
Agricultural
    
-
      
4,062
      
269
      
4,331
      
181
       2,489      
75
      
2,745
  
Construction
    
-
      
283
      
-
      
283
      
2,357
       -      
-
      
2,357
  
Consumer
    
1,002
      
-
      
7
      
1,009
      
701
       -      
13
      
714
  
Other commercial loans
    
2,382
      
200
      
-
      
2,582
      
588
       1,162      
6
      
1,756
  
Other agricultural loans
    
-
      
537
      
-
      
537
      
-
       492      
-
      
492
  
   
$
5,648
    
$
20,053
    
$
276
    
$
25,977
    
$
4,398
     $
7,789    
$
516
    
$
12,703
  
 
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, 2024 and 2023 (in thousands):

    December 31, 2024     December 31, 2023  

 
Real Estate
    
Other
    
None
    
Total
     Real Estate
    
Other
     None
     Total
  
Real estate loans:
                                                
Mortgages
  
$
2,706
    
$
-
    
$
-
    
$
2,706
     $ 2,961     $ -     $ -     $ 2,961  
Home Equity
    
165
      
-
      
-
      
165
       121       -       -       121  
Commercial
    
14,364
      
-
      
-
      
14,364
       1,135       -       -       1,135  
Agricultural
    
4,062
      
-
      
-
      
4,062
       2,670       -       -       2,670  
Construction
    
283
      
-
      
-
      
283
       2,357       -       -       2,357  
Consumer
    
-
      
-
      
1,002
      
1,002
       -       -       701       701  
Other commercial loans
    
-
      
2,582
      
-
      
2,582
       -       1,750       -       1,750  
Other agricultural loans
    
-
      
537
      
-
      
537
       -       492       -       492  
   
$
21,580
    
$
3,119
    
$
1,002
    
$
25,701
     $
 9,244     $
 2,242     $
 701     $
 12,187  
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, 2024 and 2023 (in thousands):

                                       
Revolving
    
Revolving
        
         
Loans
    
Loans
        
                                       
Amortized
    
Converted
        
December 31, 2024
  
2024
    
2023
    
2022
    
2021
    
2020
    
Prior
    
Cost Basis
    
to Term
    
Total
  
Commercial real estate
                                                      
Risk Rating
                                                      
Pass
  
$
52,122
    
$
84,465
    
$
360,989
    
$
200,869
    
$
114,839
    
$
223,601
    
$
28,178
    
$
1,786
    
$
1,066,849
  
Special Mention
    
-
      
810
      
3,495
      
1,874
      
1,372
      
8,501
      
1,674
      
-
      
17,726
  
Substandard
    
85
      
1,057
      
19,884
      
2,843
      
629
      
11,785
      
176
      
401
      
36,860
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
52,207
    
$
86,332
    
$
384,368
    
$
205,586
    
$
116,840
    
$
243,887
    
$
30,028
    
$
2,187
    
$
1,121,435
  
Current period gross charge-offs
  
$
-
   
$
 -
 		   
$
 -
 		   
$
 -
 		   
$
 -
 		   
$
 -
 		   
$
 -
 		   
$
 -
 		   
$
 -
 		 
                                                                         
Agricultural real estate
                                                                        
Risk Rating
                                                                        
Pass
  
$
32,199
    
$
22,372
    
$
46,644
    
$
26,132
    
$
29,770
    
$
126,876
    
$
14,351
    
$
115
    
$
298,459
  
Special Mention
    
2,930
      
3,138
      
7,109
      
-
      
-
      
5,315
      
2,248
      
-
      
20,740
  
Substandard
    
708
      
140
      
2,179
      
1,250
      
-
      
3,604
      
529
      
113
      
8,523
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
35,837
    
$
25,650
    
$
55,932
    
$
27,382
    
$
29,770
    
$
135,795
    
$
17,128
    
$
228
    
$
327,722
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Construction
                                    
                                 
Risk Rating
                                                                        
Pass
  
$
48,026
    
$
56,916
    
$
34,995
    
$
-
    
$
-
    
$
-
    
$
1,355
    
$
-
    
$
141,292
  
Special Mention
    
-
      
-
      
19,391
      
2,950
      
-
      
-
      
-
      
-
      
22,341
  
Substandard
    
-
      
-
      
410
      
283
      
-
      
-
      
-
      
-
      
693
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
48,026
    
$
56,916
    
$
54,796
    
$
3,233
    
$
-
    
$
-
    
$
1,355
    
$
-
    
$
164,326
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Other commercial loans
                                    
                                 
Risk Rating
                                                                        
Pass
  
$
33,211
    
$
22,808
    
$
6,773
    
$
7,542
    
$
2,150
    
$
3,464
    
$
44,871
    
$
75
    
$
120,894
  
Special Mention
    
20
      
-
      
1,798
      
178
      
62
      
56
      
4,888
      
32
      
7,034
  
Substandard
    
213
      
-
      
195
      
-
      
234
      
641
      
422
      
1,661
      
3,366
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
16
      
16
  
Total
  
$
33,444
    
$
22,808
    
$
8,766
    
$
7,720
    
$
2,446
    
$
4,161
    
$
50,181
    
$
1,784
    
$
131,310
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
59
    
$
-
    
$
-
    
$
-
    
$
2,502
    
$
-
    
$
2,561
  
                                                                         
Other agricultural loans
                                    

                                 
Risk Rating
                                                                        
Pass
  
$
4,576
    
$
2,008
    
$
888
    
$
3,870
    
$
407
    
$
220
    
$
14,812
    
$
-
    
$
26,781
  
Special Mention
    
1,341
      
-
      
-
      
-
      
-
      
400
      
67
      
-
      
1,808
  
Substandard
    
-
      
354
      
455
      
9
      
-
      
113
      
131
      
11
      
1,073
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
5,917
    
$
2,362
    
$
1,343
    
$
3,879
    
$
407
    
$
733
    
$
15,010
    
$
11
    
$
29,662
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
State and political subdivision loans
                                    
                                 
Risk Rating
                                                                        
Pass
  
$
-
    
$
1,442
    
$
13,460
    
$
10,522
    
$
5,319
    
$
23,439
    
$
-
    
$
-
    
$
54,182
  
Special Mention
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
-
    
$
1,442
    
$
13,460
    
$
10,522
    
$
5,319
    
$
23,439
    
$
-
    
$
-
    
$
54,182
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Total
                                    

                                 
Risk Rating
                                                                        
Pass
  
$
170,134
    
$
190,011
    
$
463,749
    
$
248,935
    
$
152,485
    
$
377,600
    
$
103,567
    
$
1,976
    
$
1,708,457
  
Special Mention
    
4,291
      
3,948
      
31,793
      
5,002
      
1,434
      
14,272
      
8,877
      
32
      
69,649
  
Substandard
    
1,006
      
1,551
      
23,123
      
4,385
      
863
      
16,143
      
1,258
      
2,186
      
50,515
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
16
      
16
  
Total
  
$
175,431
    
$
195,510
    
$
518,665
    
$
258,322
    
$
154,782
    
$
408,015
    
$
113,702
    
$
4,210
    
$
1,828,637
  

                                       
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
  


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, 2024 and 2023 (in thousands):

                                       
Revolving
    
Revolving
        
         
Loans
    
Loans
        
                                       
Amortized
    
Converted
        
December 31, 2024
  
2024
    
2023
    
2022
    
2021
    
2020
    
Prior
    
Cost Basis
    
to Term
    
Total
  
Residential real estate
                                                      
Payment Performance
                                                      
Performing
  
$
11,487
    
$
23,870
    
$
88,581
    
$
45,731
    
$
27,537
    
$
101,823
    
$
-
    
$
-
    
$
299,029
  
Nonperforming
    
-
      
-
      
382
      
751
      
463
      
1,110
      
-
      
-
      
2,706
  
Total
  
$
11,487
    
$
23,870
    
$
88,963
    
$
46,482
    
$
28,000
    
$
102,933
    
$
-
    
$
-
    
$
301,735
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
5
    
$
-
    
$
-
    
$
5
  
                                                                         
Home equity
                                    
-
                                  
Payment Performance
                                                                        
Performing
  
$
2,987
    
$
3,456
    
$
2,418
    
$
1,454
    
$
1,525
    
$
7,937
    
$
29,302
    
$
419
    
$
49,498
  
Nonperforming
    
-
      
-
      
-
      
-
      
83
      
82
      
-
      
-
      
165
  
Total
  
$
2,987
    
$
3,456
    
$
2,418
    
$
1,454
    
$
1,608
    
$
8,019
    
$
29,302
    
$
419
    
$
49,663
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Consumer
                                    
                                 
Payment Performance
                                                                        
Performing
  
$
2,076
    
$
880
    
$
589
    
$
543
    
$
317
    
$
2,520
    
$
125,272
    
$
1
    
$
132,198
  
Nonperforming
    
-
      
7
      
-
      
-
      
6
      
996
      
-
      
-
      
1,009
  
Total
  
$
2,076
    
$
887
    
$
589
    
$
543
    
$
323
    
$
3,516
    
$
125,272
    
$
1
    
$
133,207
  
Current period gross charge-offs
  
$
-
    
$
13
    
$
27
    
$
-
    
$
-
    
$
38
    
$
29
    
$
-
    
$
107
  
                                                                         
Total
                                    
                                 
Payment Performance
                                                                        
Performing
  
$
16,550
    
$
28,206
    
$
91,588
    
$
47,728
    
$
29,379
    
$
112,279
    
$
154,574
    
$
420
    
$
480,724
  
Nonperforming
    
-
      
7
      
382
      
751
      
552
      
2,189
      
-
      
-
      
3,881
  
Total
  
$
16,550
    
$
28,213
    
$
91,970
    
$
48,479
    
$
29,931
    
$
114,468
    
$
154,574
    
$
420
    
$
484,605
  

                                       
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
  
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, 2024 and 2023 (in thousands):

   
30-59 Days
    
60-89 Days
    
90 Days
   
Total Past
          
Total
Loans
    
90 Days or
Greater and
  
December 31, 2024
  
Past Due
    
Past Due
    
Or Greater
    
Due
    
Current
    
Receivables
    
Accruing
  
Real estate loans:
                                          
Mortgages
  
$
1,464
    
$
227
    
$
1,605
    
$
3,296
    
$
298,439
    
$
301,735
    
$
-
  
Home Equity
    
138
      
170
      
148
      
456
      
49,207
      
49,663
      
-
  
Commercial
    
2,782
      
1,360
      
6,528
      
10,670
      
1,110,765
      
1,121,435
      
-
  
Agricultural
    
1,569
      
140
      
1,845
      
3,554
      
324,168
      
327,722
      
269
  
Construction
    
1,119
      
-
      
283
      
1,402
      
162,924
      
164,326
      
-
  
Consumer
    
292
      
20
      
1,009
      
1,321
      
131,886
      
133,207
      
7
  
Other commercial loans
    
478
      
282
      
2,336
      
3,096
      
128,214
      
131,310
      
-
  
Other agricultural loans
    
403
      
-
      
-
      
403
      
29,259
      
29,662
      
-
  
State and political subdivision loans
   
-
      
-
      
-
      
-
      
54,182
      
54,182
      
-
  
Total
  
$
8,245
    
$
2,199
    
$
13,754
    
$
24,198
    
$
2,289,044
    
$
2,313,242
    
$
276
  
                                                         
Loans considered non-accrual
  
$
2,428
    
$
-
    
$
13,478
    
$
15,906
    
$
9,795
    
$
25,701
          
Loans still accruing
    
5,817
      
2,199
      
276
      
8,292
      
2,279,249
      
2,287,541
          
Total
  
$
8,245
    
$
2,199
    
$
13,754
    
$
24,198
    
$
2,289,044
    
$
2,313,242
          

   
30-59 Days
    
60-89 Days
    
90 Days
   
Total Past
          
Total
Loans
    
90 Days or
Greater and
December 31, 2023
  
Past Due
    
Past Due
    
Or 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
        
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 2024 (dollars in thousands):

   
For the year ended December 31, 2024
  
   
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
    
$
12
      
0.00
%
Total
    
1
    
$
12
          
                         
Non-Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
  
Other commercial loans
     1     $ 149       0.11 %
Total
    
1
    
$
149
          


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 2024:

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
Total
    
1
    
 
              
Non-Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
    
Other commercial loans
     1  
Extended the loan maturity 120 months
Total
    
1
    

There were no accruing or nonaccrual modified loans to borrowers experiencing financial difficulty that were modified during 2024 for which there were payment defaults after the modification date for 2024. The following table details loans modified during 2023 that were experiencing financial difficulty that had a payment default during the year ended December 31, 2024 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty:

 
  
Extended Loan Maturity
  
Real estate loans:
      
     Commercial
  
$
1,061
  
Total
  
$
1,061
  


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, 2024 (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
  
$
12
    
$
-
    
$
-
    
$
12
  
Total
  
$
12
    
$
-
    
$
-
    
$
12
  

          30-89 Days
    90 Days
       
Non-Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
   Current
    Past Due
    Or Greater
    Total
 
Other commercial loans
   $ 149     $ -     $ -     $ 149  
    Total
  
$
149
    
$
-
    
$
-
    
$
149
  
 

 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 (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