Loans Receivable and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2019

Loans Receivable and Allowance for Loan Losses [Abstract]

Composition of the Loan Portfolio

	September 30, 2019				December 31, 2018
Real Estate Loans:
Residential	$	230,624	25.5	%	$	235,523	27.7	%
Commercial		384,376	42.4			374,790	44.1
Construction		18,267	2.0			17,445	2.0
Commercial, financial and agricultural		126,835	14.0			110,542	13.0
Consumer loans to individuals		145,547	16.1			112,002	13.2
Total loans		905,649	100.0	%		850,302	100.0	%
Deferred fees, net		(67)				(120)
Total loans receivable		905,582				850,182
Allowance for loan losses		(8,405)				(8,452)
Net loans receivable	$	897,177			$	841,730

Information Regarding Loans Acquired and Accounted for in Accordance With ASC 310-30

	September 30, 2019		December 31, 2018
Outstanding Balance	$	946	$	1,055
Carrying Amount	$	807	$	886

Summary of Amount of Loans in Each Category that were Individually and Collectively Evaluated for Impairment

	Real Estate Loans
							Commercial		Consumer
	Residential		Commercial		Construction		Loans		Loans		Total
September 30, 2019	(In thousands)
Individually evaluated for impairment	$	-	$	514	$	-	$	-	$	-	$	514
Loans acquired with deteriorated credit quality		577		230		-		-		-		807
Collectively evaluated for impairment		230,047		383,632		18,267		126,835		145,547		904,328
Total Loans	$	230,624	$	384,376	$	18,267	$	126,835	$	145,547	$	905,649

	Real Estate Loans
							Commercial		Consumer
	Residential		Commercial		Construction		Loans		Loans		Total
	(In thousands)
December 31, 2018
Individually evaluated for impairment	$	-	$	1,319	$	-	$	-	$	-	$	1,319
Loans acquired with deteriorated credit quality		630		256		-		-		-		886
Collectively evaluated for impairment		234,893		373,215		17,445		110,542		112,002		848,097
Total Loans	$	235,523	$	374,790	$	17,445	$	110,542	$	112,002	$	850,302

Impaired Loans and Related Interest Income by Loan Portfolio Class

The following table includes the recorded investment and unpaid principal balances for impaired loans with the associated allowance amount, if applicable. 

			Unpaid
	Recorded		Principal		Associated
	Investment		Balance		Allowance
September 30, 2019				(in thousands)
With no related allowance recorded:
Real Estate Loans:
Commercial	$	514	$	1,101	$	-
Subtotal		514		1,101		-
Total:
Real Estate Loans:
Commercial		514		1,101		-
Total Impaired Loans	$	514	$	1,101	$	-

			Unpaid
	Recorded		Principal		Associated
	Investment		Balance		Allowance
December 31, 2018				(in thousands)
With no related allowance recorded:
Real Estate Loans:
Commercial	$	1,319	$	1,747	$	-
Subtotal		1,319		1,747		-
Total:
Real Estate Loans:
Commercial		1,319		1,747		-
Total Impaired Loans	$	1,319	$	1,747	$	-

The following table presents the average recorded investment in impaired loans and the related amount of interest income recognized during the three-month periods ended September 30, 2019 and 2018, respectively (in thousands):

	Average Recorded				Interest Income
	Investment				Recognized
	2019		2018		2019		2018
Real Estate Loans:
Residential	$	-	$	23	$	-	$	-
Commercial		633		1,217		-		15
Total	$	633	$	1,240	$	-	$	15

The following table presents the average recorded investment in impaired loans and the related amount of interest income recognized during the nine-month periods ended September 30, 2019 and 2018, respectively (in thousands):

	Average Recorded				Interest Income
	Investment				Recognized
	2019		2018		2019		2018
Real Estate Loans:
Residential	$	-	$	23	$	-	$	-
Commercial		759		1,195		24		45
Total	$	759	$	1,218	$	24	$	45

Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating

			Special					Doubtful
	Pass		Mention		Substandard		or Loss		Total
September 30, 2019
Commercial real estate loans	$	368,796	$	12,301	$	3,279	$	-	$	384,376
Commercial loans		126,371		252		212		-		126,835
Total	$	495,167	$	12,553	$	3,491	$	-	$	511,211

			Special					Doubtful
	Pass		Mention		Substandard		or Loss		Total
December 31, 2018
Commercial real estate loans	$	360,838	$	7,918	$	6,034	$	-	$	374,790
Commercial loans		109,966		82		494		-		110,542
Total	$	470,804	$	8,000	$	6,528	$	-	$	485,332

For residential real estate loans, construction loans and consumer loans, the Company evaluates credit quality based on the performance of the individual credits.  The following table presents the recorded investment in the loan classes based on payment activity as of September 30, 2019 and December 31, 2018 (in thousands):

	Performing		Nonperforming		Total
September 30, 2019
Residential real estate loans	$	229,857	$	767	$	230,624
Construction		18,267		-		18,267
Consumer loans		145,490		57		145,547
Total	$	393,614	$	824	$	394,438

	Performing		Nonperforming		Total
December 31, 2018
Residential real estate loans	$	234,725	$	798	$	235,523
Construction		17,445		-		17,445
Consumer loans		112,002		-		112,002
Total	$	364,172	$	798	$	364,970

Loan Portfolio Summarized by the Past Due Status

	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due and still accruing		Non-Accrual		Total Past Due and Non-Accrual		Total Loans
September 30, 2019
Real Estate loans
Residential	$	228,976	$	692	$	189	$	-	$	767	$	1,648	$	230,624
Commercial		383,667		114		54		-		541		709		384,376
Construction		18,267		-		-		-		-		-		18,267
Commercial  loans		126,795		14		-		-		26		40		126,835
Consumer  loans		145,161		183		146		-		57		386		145,547
Total	$	902,866	$	1,003	$	389	$	-	$	1,391	$	2,783	$	905,649

	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due and still accruing		Non-Accrual		Total Past Due and Non-Accrual		Total Loans
December 31, 2018
Real Estate loans
Residential	$	234,201	$	373	$	151	$	-	$	798	$	1,322	$	235,523
Commercial		372,617		1,043		788		-		342		2,173		374,790
Construction		17,445		-		-		-		-		-		17,445
Commercial  loans		110,191		320		31		-		-		351		110,542
Consumer  loans		111,796		171		35		-		-		206		112,002
Total	$	846,250	$	1,907	$	1,005	$	-	$	1,140	$	4,052	$	850,302

Allowance for Loan Losses and Recorded Investment in Financing Receivables

(In thousands)	Residential Real Estate		Commercial Real Estate		Construction		Commercial		Consumer		Total
Beginning balance, December 31, 2018	$	1,328	$	5,455	$	93	$	712	$	864	$	8,452
Charge Offs		(90)		(615)		-		(254)		(246)		(1,205)
Recoveries		20		18		-		31		39		108
Provision for loan losses		310		(292)		14		454		564		1,050
Ending balance, September 30, 2019	$	1,568	$	4,566	$	107	$	943	$	1,221	$	8,405
Ending balance individually evaluated for impairment	$	-	$	-	$	-	$	-	$	-	$	-
Ending balance collectively evaluated for impairment	$	1,568	$	4,566	$	107	$	943	$	1,221	$	8,405
(In thousands)	Residential Real Estate		Commercial Real Estate		Construction		Commercial		Consumer		Total
Beginning balance, June 30, 2019	$	1,447	$	4,694	$	112	$	896	$	1,079	$	8,228
Charge Offs		(15)		-		-		(20)		(111)		(146)
Recoveries		5		4		-		10		4		23
Provision for loan losses		131		(132)		(5)		57		249		300
Ending balance, September 30, 2019	$	1,568	$	4,566	$	107	$	943	$	1,221	$	8,405

(In thousands)	Residential Real Estate		Commercial Real Estate		Construction		Commercial		Consumer		Total
Beginning balance, December 31, 2017	$	1,272	$	5,265	$	90	$	463	$	544	$	7,634
Charge Offs		(85)		(244)		-		(246)		(189)		(764)
Recoveries		2		33		-		-		25		60
Provision for loan losses		185		205		4		497		459		1,350
Ending balance, September 30, 2018	$	1,374	$	5,259	$	94	$	714	$	839	$	8,280
Ending balance individually evaluated for impairment	$	-	$	-	$	-	$	-	$	-	$	-
Ending balance collectively evaluated for impairment	$	1,374	$	5,259	$	94	$	714	$	839	$	8,280
(In thousands)	Residential Real Estate		Commercial Real Estate		Construction		Commercial		Consumer		Total
Beginning balance, June 30, 2018	$	1,455	$	5,247	$	128	$	690	$	806	$	8,326
Charge Offs		(10)		(110)		-		(241)		(72)		(433)
Recoveries		-		2		-		-		10		12
Provision for loan losses		(71)		120		(34)		265		95		375
Ending balance, September 30, 2018	$	1,374	$	5,259	$	94	$	714	$	839	$	8,280