Loans Receivable and Allowance for Loan Losses (Tables)
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3 Months Ended |
Mar. 31, 2021 |
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| Loans Receivable and Allowance for Loan Losses [Abstract] |
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| Composition of the Loan Portfolio |
| | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2021 | | | December 31, 2020 | | Real Estate Loans: | | | | | | | | | | | | Residential | $ | 261,450 | | 18.4 | % | | $ | 263,127 | | 18.6 | % | Commercial | | 581,329 | | 40.8 | | | | 579,104 | | 41.0 | | Agricultural | | 64,954 | | 4.6 | | | | 66,334 | | 4.7 | | Construction | | 20,237 | | 1.4 | | | | 21,005 | | 1.5 | | Commercial loans | | 302,431 | | 21.2 | | | | 283,741 | | 20.1 | | Other agricultural loans | | 40,122 | | 2.8 | | | | 40,929 | | 2.9 | | Consumer loans to individuals | | 153,805 | | 10.8 | | | | 158,049 | | 11.2 | | Total loans | | 1,424,328 | | 100.0 | % | | | 1,412,289 | | 100.0 | % | Deferred fees, net | | (2,760) | | | | | | (1,557) | | | | Total loans receivable | | 1,421,568 | | | | | | 1,410,732 | | | | Allowance for loan losses | | (14,509) | | | | | | (13,150) | | | | Net loans receivable | $ | 1,407,059 | | | | | $ | 1,397,582 | | | |
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| Information Regarding Loans Acquired and Accounted for in Accordance With ASC 310-30 |
| | | | | | | | | | | | | March 31, 2021 | | December 31, 2020 | Outstanding Balance | $ | 15,204 | | $ | 15,570 | Carrying Amount | $ | 9,165 | | $ | 9,281 |
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| Changes in the Accretable Yield for Purchased Credit-impaired Loans |
| | | | | | | | | | | | | 2021 | | 2020 | Balance at beginning of period | $ | 1,365 | | $ | — | Additions | | — | | | — | Accretion | | (176) | | | — | Reclassification and other | | 43 | | | — | Balance at end of period | $ | 1,232 | | $ | — |
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| Components Of Purchase Accounting Adjustments Related To Purchased Credit-impaired Loans Acquired |
| | | | | | (In Thousands) | July 7, 2020 | Contractually required principal and interest | $ | 15,410 | Non-accretable discount | | (5,213) | Expected cash flows | | 10,197 | Accretable discount | | (1,724) | Estimated fair value | $ | 8,473 |
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| Summary of Amount of Loans in Each Category that were Individually and Collectively Evaluated for Impairment |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Real Estate Loans | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial | | | Other | | Consumer | | | | | Residential | | Commercial | | | Agricultural | | Construction | | Loans | | | Agricultural | | Loans | | Total | March 31, 2021 | (In thousands) | Individually evaluated for impairment | $ | — | | $ | 2,586 | | $ | — | | $ | — | | $ | 163 | | $ | — | | $ | — | | $ | 2,749 | Loans acquired with deteriorated credit quality | | 582 | | | 3,966 | | | 2,006 | | | 198 | | | 240 | | | 2,173 | | | — | | | 9,165 | Collectively evaluated for impairment | | 260,868 | | | 574,777 | | | 62,948 | | | 20,039 | | | 302,028 | | | 37,949 | | | 153,805 | | | 1,412,414 | Total Loans | $ | 261,450 | | $ | 581,329 | | $ | 64,954 | | $ | 20,237 | | $ | 302,431 | | $ | 40,122 | | $ | 153,805 | | $ | 1,424,328 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Real Estate Loans | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial | | | Other | | Consumer | | | | | Residential | | Commercial | | | Agricultural | | Construction | | Loans | | | Agricultural | | Loans | | Total | | (In thousands) | December 31, 2020 | | | | | | | | | | | | | | | | | | | | | | | | Individually evaluated for impairment | $ | - | | $ | 2,582 | | $ | — | | $ | - | | $ | 80 | | $ | — | | $ | - | | $ | 2,662 | Loans acquired with deteriorated credit quality | | 591 | | | 3,995 | | | 2,043 | | | 194 | | | 246 | | | 2,212 | | | - | | | 9,281 | Collectively evaluated for impairment | | 262,536 | | | 572,527 | | | 64,291 | | | 20,811 | | | 283,415 | | | 38,717 | | | 158,049 | | | 1,400,346 | Total Loans | $ | 263,127 | | $ | 579,104 | | $ | 66,334 | | $ | 21,005 | | $ | 283,741 | | $ | 40,929 | | $ | 158,049 | | $ | 1,412,289 |
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| 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 | March 31, 2021 | | | | | (in thousands) | | | With no related allowance recorded: | | | | | | | | | Real Estate Loans: | | | | | | | | | Commercial | $ | 2,586 | | $ | 3,238 | | $ | — | Commercial Loans | | 125 | | | 125 | | | — | Subtotal | $ | 2,711 | | $ | 3,363 | | $ | — | With an allowance recorded: | | | | | | | | | Commercial Loans | $ | 38 | | $ | 38 | | $ | 38 | Subtotal | $ | 38 | | $ | 38 | | $ | 38 | Total: | | | | | | | | | Real Estate Loans: | | | | | | | | | Commercial | $ | 2,586 | | | 3,238 | | $ | — | Commercial Loans | | 163 | | | 163 | | | 38 | Total Impaired Loans | $ | 2,749 | | $ | 3,401 | | $ | 38 |
| | | | | | | | | | | | | | | | | | | | | | Unpaid | | | | | Recorded | | Principal | | Associated | | Investment | | Balance | | Allowance | December 31, 2020 | | | | | (in thousands) | | | With no related allowance recorded: | | | | | | | | | Real Estate Loans: | | | | | | | | | Commercial | $ | 2,582 | | $ | 3,234 | | $ | — | Commercial Loans | | 80 | | | 80 | | | — | Subtotal | | 2,662 | | | 3,314 | | | — | With an allowance recorded: | | | | | | | | | Real Estate Loans | | | | | | | | | Commercial | | — | | | — | | | — | Subtotal | | — | | | — | | | — | Total: | | | | | | | | | Real Estate Loans: | | | | | | | | | Commercial | | 2,582 | | | 3,234 | | | — | Commercial Loans | | 80 | | | 80 | | | — | Total Impaired Loans | $ | 2,662 | | $ | 3,314 | | $ | — |
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 March 31, 2021 and 2020, respectively (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Average Recorded | | Interest Income | | Investment | | Recognized | | 2021 | | 2020 | | 2021 | | 2020 | Real Estate Loans: | | | | | | | | | | | | Commercial | $ | 2,566 | | $ | 2,098 | | $ | 1 | | $ | 3 | Commercial Loans | | 122 | | | — | | | — | | | — | Total | $ | 2,688 | | $ | 2,098 | | $ | 1 | | $ | 3 |
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| Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Special | | | | | Doubtful | | | | | Pass | | Mention | | Substandard | | or Loss | | Total | March 31, 2021 | | | | | | | | | | | | | | | Commercial real estate loans | $ | 568,817 | | $ | 6,207 | | $ | 6,305 | | $ | — | | $ | 581,329 | Real estate - agricultural | | 60,967 | | | 1,123 | | | 2,864 | | | — | | | 64,954 | Commercial loans | | 301,648 | | | 395 | | | 388 | | | — | | | 302,431 | Other agricultural loans | | 36,523 | | | 1,300 | | | 2,299 | | | — | | | 40,122 | Total | $ | 967,955 | | $ | 9,025 | | $ | 11,856 | | $ | — | | $ | 988,836 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Special | | | | | Doubtful | | | | | Pass | | Mention | | Substandard | | or Loss | | Total | December 31, 2020 | | | | | | | | | | | | | | | Commercial real estate loans | $ | 566,418 | | $ | 6,346 | | $ | 6,340 | | $ | — | | $ | 579,104 | Real estate - agricultural | | 58,322 | | | 5,111 | | | 2,901 | | | — | | | 66,334 | Commercial loans | | 282,915 | | | 437 | | | 389 | | | — | | | 283,741 | Other agricultural loans | | 35,772 | | | 2,786 | | | 2,371 | | | — | | | 40,929 | Total | $ | 943,427 | | $ | 14,680 | | $ | 12,001 | | $ | — | | $ | 970,108 |
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 March 31, 2021 and December 31, 2020 (in thousands): | | | | | | | | | | | | | | | | | | | Performing | | Nonperforming | | Total | March 31, 2021 | | | | | | | | | Residential real estate loans | $ | 261,033 | | $ | 417 | | $ | 261,450 | Construction | | 20,237 | | | — | | | 20,237 | Consumer loans to individuals | | 153,684 | | | 121 | | | 153,805 | Total | $ | 434,954 | | $ | 538 | | $ | 435,492 |
| | | | | | | | | | | | | | | | | | | Performing | | Nonperforming | | Total | December 31, 2020 | | | | | | | | | Residential real estate loans | $ | 262,556 | | $ | 571 | | $ | 263,127 | Construction | | 21,005 | | | — | | | 21,005 | Consumer loans to individuals | | 157,864 | | | 185 | | | 158,049 | Total | $ | 441,425 | | $ | 756 | | $ | 442,181 |
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| 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 | | Nonaccrual | | Total Past Due and Non-Accrual | | Purchased Credit-Impaired | | Total Loans | March 31, 2021 | | | | | | | | | | | | | | | | | | | | | | | | Real Estate loans | | | | | | | | | | | | | | | | | | | | | | | | Residential | $ | 259,978 | | $ | 413 | | $ | 60 | | $ | - | | $ | 417 | | $ | 890 | | $ | 582 | | $ | 261,450 | Commercial | | 575,207 | | | 518 | | | - | | | - | | | 1,638 | | | 2,156 | | | 3,966 | | | 581,329 | Agricultural | | 62,176 | | | 96 | | | - | | | - | | | 676 | | | 772 | | | 2,006 | | | 64,954 | Construction | | 20,039 | | | - | | | - | | | - | | | - | | | - | | | 198 | | | 20,237 | Commercial loans | | 300,486 | | | 1,667 | | | - | | | - | | | 38 | | | 1,705 | | | 240 | | | 302,431 | Other agricultural loans | | 37,587 | | | 54 | | | | | | - | | | 308 | | | 362 | | | 2,173 | | | 40,122 | Consumer loans | | 153,460 | | | 141 | | | 83 | | | - | | | 121 | | | 345 | | | - | | | 153,805 | Total | $ | 1,408,933 | | $ | 2,889 | | $ | 143 | | $ | - | | $ | 3,198 | | $ | 6,230 | | $ | 9,165 | | $ | 1,424,328 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Current | | 31-60 Days Past Due | | 61-90 Days Past Due | | Greater than 90 Days Past Due and still accruing | | Nonaccrual | | Total Past Due and Non-Accrual | | Purchased Credit-Impaired | | Total Loans | December 31, 2020 | | | | | | | | | | | | | | | | | | | | | | | | Real Estate loans | | | | | | | | | | | | | | | | | | | | | | | | Residential | $ | 261,406 | | $ | 355 | | $ | 204 | | $ | - | | $ | 571 | | $ | 1,130 | | $ | 591 | | $ | 263,127 | Commercial | | 573,376 | | | 59 | | | - | | | - | | | 1,674 | | | 1,733 | | | 3,995 | | | 579,104 | Agricultural | | 63,615 | | | - | | | - | | | | | | 676 | | | 676 | | | 2,043 | | | 66,334 | Construction | | 20,811 | | | - | | | - | | | - | | | - | | | - | | | 194 | | | 21,005 | Commercial loans | | 282,374 | | | 1,009 | | | 90 | | | - | | | 22 | | | 1,121 | | | 246 | | | 283,741 | Other agricultural loans | | 38,454 | | | - | | | - | | | | | | 263 | | | 263 | | | 2,212 | | | 40,929 | Consumer loans | | 157,538 | | | 233 | | | 93 | | | - | | | 185 | | | 511 | | | - | | | 158,049 | Total | $ | 1,397,574 | | $ | 1,656 | | $ | 387 | | $ | - | | $ | 3,391 | | $ | 5,434 | | $ | 9,281 | | $ | 1,412,289 |
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| 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, 2020 | $ | 1,960 | | $ | 8,004 | | $ | 150 | | $ | 1,360 | | $ | 1,676 | | $ | 13,150 | Charge Offs | | (5) | | | — | | | — | | | (60) | | | (103) | | | (168) | Recoveries | | 2 | | | 4 | | | — | | | 8 | | | 13 | | | 27 | Provision for loan losses | | 167 | | | 1,076 | | | (28) | | | 97 | | | 188 | | | 1,500 | Ending balance, March 31, 2021 | $ | 2,124 | | $ | 9,084 | | $ | 122 | | $ | 1,405 | | $ | 1,774 | | $ | 14,509 | Ending balance individually evaluated
for impairment | $ | — | | $ | — | | $ | — | | $ | 38 | | $ | — | | $ | 38 | Ending balance collectively evaluated
for impairment | $ | 2,124 | | $ | 9,084 | | $ | 122 | | $ | 1,367 | | $ | 1,774 | | $ | 14,471 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | Residential Real Estate | | Commercial Real Estate | | Construction | | Commercial | | Consumer | | Total | Beginning balance, December 31, 2019 | $ | 1,552 | | $ | 4,687 | | $ | 95 | | $ | 949 | | $ | 1,226 | | $ | 8,509 | Charge Offs | | (1) | | | (33) | | | — | | | — | | | (116) | | | (150) | Recoveries | | 2 | | | 4 | | | — | | | 10 | | | 13 | | | 29 | Provision for loan losses | | 91 | | | 257 | | | (8) | | | 105 | | | 255 | | | 700 | Ending balance, March 31, 2020 | $ | 1,644 | | $ | 4,915 | | $ | 87 | | $ | 1,064 | | $ | 1,378 | | $ | 9,088 | Ending balance individually evaluated
for impairment | $ | — | | $ | 392 | | $ | — | | $ | — | | $ | — | | $ | 392 | Ending balance collectively evaluated
for impairment | $ | 1,644 | | $ | 4,523 | | $ | 87 | | $ | 1,064 | | $ | 1,378 | | $ | 8,696 |
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