Loans Receivable and Allowance for Loan Losses (Tables)
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12 Months Ended |
Dec. 31, 2019 |
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| Loans Receivable and Allowance for Loan Losses [Abstract] |
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| Composition of the Loan Portfolio |
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December 31, 2019
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December 31, 2018
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Real Estate:
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|
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Residential
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$
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229,781
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24.9
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%
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$
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235,523
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27.7
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%
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Commercial
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391,327
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42.3
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374,790
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44.1
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Construction
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17,732
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1.9
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17,445
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2.0
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Commercial, financial and agricultural
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134,150
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14.5
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110,542
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13.0
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Consumer loans to individuals
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151,686
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16.4
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112,002
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13.2
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Total loans
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924,676
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100.0
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%
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850,302
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100.0
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%
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Deferred fees, net
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(95)
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(120)
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Total loans receivable
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924,581
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850,182
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Allowance for loan losses
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(8,509)
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(8,452)
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Net loans receivable
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$
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916,072
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$
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841,730
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| Changes in the Accretable Yield for Purchased Credit-impaired Loans |
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2019
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2018
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Balance at beginning of period
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$
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29
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$
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108
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Additions
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-
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-
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Accretion
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(29)
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(56)
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Reclassification and other
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-
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(23)
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Balance at end of period
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$
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-
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$
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29
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| Information Regarding Loans Acquired and Accounted for in Accordance With ASC 310-30 |
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December 31, 2019
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December 31, 2018
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Outstanding Balance
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$
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793
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$
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1,055
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Carrying Amount
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$
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696
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$
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886
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| Summary of Amount of Loans in Each Category that were Individually and Collectively Evaluated for Impairment |
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Real Estate Loans
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Commercial
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Consumer
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Residential
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Commercial
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Construction
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Loans
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Loans
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Total
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(In thousands)
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December 31, 2019
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Individually evaluated for impairment
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$
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-
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$
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2,144
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$
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-
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$
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-
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$
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-
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$
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2,144
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Loans acquired with deteriorated credit quality
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476
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220
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-
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-
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-
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696
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Collectively evaluated for impairment
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229,305
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388,963
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17,732
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134,150
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151,686
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921,836
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Total Loans
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$
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229,781
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$
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391,327
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$
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17,732
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$
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134,150
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$
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151,686
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$
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924,676
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Real Estate Loans
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Commercial
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Consumer
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Residential
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Commercial
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Construction
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Loans
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Loans
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Total
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(In thousands)
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December 31, 2018
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Individually evaluated for impairment
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$
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-
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$
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1,319
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$
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-
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$
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-
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$
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-
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$
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1,319
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Loans acquired with deteriorated credit quality
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630
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256
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-
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-
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-
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886
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Collectively evaluated for impairment
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234,893
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373,215
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17,445
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110,542
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112,002
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848,097
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Total Loans
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$
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235,523
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$
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374,790
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$
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17,445
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$
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110,542
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$
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112,002
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$
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850,302
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| Impaired Loans and Related Interest Income by Loan Portfolio Class |
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Unpaid Principal
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Recorded
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Principal
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Associated
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Investment
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Balance
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Allowance
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December 31, 2019
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(in thousands)
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With no related allowance recorded:
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Real Estate Loans
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Commercial
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$
|
143
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$
|
394
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$
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-
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Subtotal
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143
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|
394
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-
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With an allowance recorded:
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Real Estate Loans
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|
|
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Commercial
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2,001
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|
2,001
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|
|
417
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Subtotal
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|
2,001
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|
2,001
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|
417
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Total:
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Real Estate Loans
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|
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|
|
|
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Commercial
|
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2,144
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|
2,395
|
|
|
417
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Total Impaired Loans
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$
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2,144
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$
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2,395
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$
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417
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Unpaid
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Recorded
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Principal
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Associated
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Investment
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Balance
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Allowance
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December 31, 2018
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(In thousands)
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With no related allowance recorded:
|
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|
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|
|
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Real Estate Loans
|
|
|
|
|
|
|
|
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Commercial
|
$
|
1,319
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$
|
1,747
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$
|
-
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Subtotal
|
|
1,319
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1,747
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-
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Total:
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|
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Real Estate Loans
|
|
|
|
|
|
|
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Commercial
|
|
1,319
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|
1,747
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|
|
-
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Total Impaired Loans
|
$
|
1,319
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$
|
1,747
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$
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-
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The following information for impaired loans is presented for the years ended December 31, 2019 and 2018:
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Average Recorded
|
Average Recorded
|
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Interest Income
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Investment
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Recognized
|
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|
2019
|
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2018
|
|
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2019
|
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2018
|
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(In thousands)
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Total:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Real Estate Loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial
|
$
|
1,036
|
|
$
|
1,220
|
|
|
|
|
$
|
233
|
|
$
|
67
|
|
|
|
|
Total Loans
|
$
|
1,036
|
|
$
|
1,220
|
|
|
|
|
$
|
233
|
|
$
|
67
|
|
|
|
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| Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating |
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Special
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|
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|
|
|
|
|
|
|
Pass
|
|
Mention
|
|
Substandard
|
|
Doubtful
|
|
Loss
|
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Total
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate loans
|
$
|
376,109
|
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$
|
12,268
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$
|
2,950
|
|
$
|
-
|
|
$
|
-
|
|
$
|
391,327
|
|
Commercial
|
|
133,695
|
|
|
248
|
|
|
207
|
|
|
-
|
|
|
-
|
|
|
134,150
|
|
Total
|
$
|
509,804
|
|
$
|
12,516
|
|
$
|
3,157
|
|
$
|
-
|
|
$
|
-
|
|
$
|
525,477
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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|
|
|
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|
|
|
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|
|
|
|
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Special
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass
|
|
Mention
|
|
Substandard
|
|
Doubtful
|
|
Loss
|
|
Total
|
|
December 31, 2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate loans
|
$
|
360,838
|
|
$
|
7,918
|
|
$
|
6,034
|
|
$
|
-
|
|
$
|
-
|
|
$
|
374,790
|
|
Commercial
|
|
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. Nonperforming loans include loans that have been placed on nonaccrual status and loans remaining in accrual status on which the contractual payment of principal and interest has become 90 days past due.
The following table presents the recorded investment in the loan classes based on payment activity as of December 31, 2019 and December 31, 2018 (in thousands):
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|
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|
|
|
|
|
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|
|
|
|
|
|
|
|
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|
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Performing
|
|
Nonperforming
|
|
Total
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
Residential real estate loans
|
$
|
229,214
|
|
$
|
567
|
|
$
|
229,781
|
|
Construction
|
|
17,732
|
|
|
-
|
|
|
17,732
|
|
Consumer loans to individuals
|
|
151,607
|
|
|
79
|
|
|
151,686
|
|
Total
|
$
|
398,553
|
|
$
|
646
|
|
$
|
399,199
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing
|
|
Nonperforming
|
|
Total
|
|
December 31, 2018
|
|
|
|
|
|
|
|
|
|
Residential real estate loans
|
$
|
234,725
|
|
$
|
798
|
|
$
|
235,523
|
|
Construction
|
|
17,445
|
|
|
-
|
|
|
17,445
|
|
Consumer loans to individuals
|
|
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
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential
|
$
|
228,242
|
|
$
|
727
|
|
$
|
245
|
|
$
|
-
|
|
$
|
567
|
|
$
|
1,539
|
|
$
|
229,781
|
|
Commercial
|
|
388,117
|
|
|
176
|
|
|
2,935
|
|
|
-
|
|
|
99
|
|
|
3,210
|
|
|
391,327
|
|
Construction
|
|
17,695
|
|
|
-
|
|
|
37
|
|
|
-
|
|
|
-
|
|
|
37
|
|
|
17,732
|
|
Commercial loans
|
|
134,018
|
|
|
82
|
|
|
-
|
|
|
-
|
|
|
50
|
|
|
132
|
|
|
134,150
|
|
Consumer loans
|
|
151,309
|
|
|
233
|
|
|
65
|
|
|
-
|
|
|
79
|
|
|
377
|
|
|
151,686
|
|
Total
|
$
|
919,381
|
|
$
|
1,218
|
|
$
|
3,282
|
|
$
|
-
|
|
$
|
795
|
|
$
|
5,295
|
|
$
|
924,676
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
The following table presents the allowance for loan losses by the classes of the loan portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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
|
|
(102)
|
|
|
(627)
|
|
|
-
|
|
|
(284)
|
|
|
(420)
|
|
|
(1,433)
|
|
Recoveries
|
|
24
|
|
|
125
|
|
|
-
|
|
|
48
|
|
|
43
|
|
|
240
|
|
Provision for loan losses
|
|
302
|
|
|
(266)
|
|
|
2
|
|
|
473
|
|
|
739
|
|
|
1,250
|
|
Ending balance, December 31, 2019
|
$
|
1,552
|
|
$
|
4,687
|
|
$
|
95
|
|
$
|
949
|
|
$
|
1,226
|
|
$
|
8,509
|
|
Ending balance individually evaluated
for impairment
|
$
|
-
|
|
$
|
417
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
417
|
|
Ending balance collectively evaluated
for impairment
|
$
|
1,552
|
|
$
|
4,270
|
|
$
|
95
|
|
$
|
949
|
|
$
|
1,226
|
|
$
|
8,092
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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
|
|
(197)
|
|
|
(283)
|
|
|
-
|
|
|
(246)
|
|
|
(263)
|
|
|
(989)
|
|
Recoveries
|
|
9
|
|
|
33
|
|
|
-
|
|
|
8
|
|
|
32
|
|
|
82
|
|
Provision for loan losses
|
|
244
|
|
|
440
|
|
|
3
|
|
|
487
|
|
|
551
|
|
|
1,725
|
|
Ending balance, December 31, 2018
|
$
|
1,328
|
|
$
|
5,455
|
|
$
|
93
|
|
$
|
712
|
|
$
|
864
|
|
$
|
8,452
|
|
Ending balance individually evaluated
for impairment
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
Ending balance collectively evaluated
for impairment
|
$
|
1,328
|
|
$
|
5,455
|
|
$
|
93
|
|
$
|
712
|
|
$
|
864
|
|
$
|
8,452
|
|