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Loans Receivable and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2021

Loans Receivable and Allowance for Loan Losses [Abstract]



	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

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

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	$	—

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

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

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

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

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

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