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Loans and Allowance for Loan Losses (Tables)
 9 Months Ended
Sep. 30, 2017
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable

Loans consisted of the following as of the dates indicated below:

 

    September 30,     December 31,  
(Dollars in thousands)   2017     2016  
             
One-to-four family residential real estate   $ 136,829     $ 136,846  
Construction and land     15,898       13,738  
Commercial real estate     120,818       118,200  
Commercial     50,944       54,506  
Agriculture     84,101       78,324  
Municipal     3,479       3,884  
Consumer     21,985       20,271  
Total gross loans     434,054       425,769  
Net deferred loan costs and loans in process     (236 )     36  
Allowance for loan losses     (5,379 )     (5,344 )
Loans, net   $ 428,439     $ 420,461  
                 
Percent of total                
One-to-four family residential real estate     31.5 %     32.1 %
Construction and land     3.7 %     3.2 %
Commercial real estate     27.8 %     27.8 %
Commercial loans     11.7 %     12.8 %
Agriculture loans     19.4 %     18.4 %
Municipal loans     0.8 %     0.9 %
Consumer loans     5.1 %     4.8 %
Total gross loans     100.0 %     100.0 %
Schedule of Allowance for Credit Losses On Financing Receivables

The following tables provide information on the Company’s activity in the allowance for loan losses by loan class:

 

(Dollars in thousands)   Three and nine months ended September 30, 2017  
    One-to-four family residential real estate     Construction and land     Commercial real estate     Commercial     Agriculture     Municipal     Consumer     Total  
                                                 
Allowance for loan losses:                                                                
Balance at July 1, 2017   $ 499     $ 70     $ 1,709     $ 1,081     $ 1,772     $ 10     $ 185     $ 5,326  
Charge-offs     -       -       -       -       -       -       (84 )     (84 )
Recoveries     1       -       -       10       -       14       12       37  
Provision for loan losses     -       33       11       (82 )     87       (15 )     66       100  
Balance at September 30, 2017     500       103       1,720       1,009       1,859       9       179       5,379  
                                                                 
Balance at January 1, 2017   $ 504     $ 53     $ 1,777     $ 1,119     $ 1,684     $ 12     $ 195     $ 5,344  
Charge-offs     (19 )     -       (61 )     -       -       -       (249 )     (329 )
Recoveries     9       -       -       19       1       14       71       114  
Provision for loan losses     6       50       4       (129 )     174       (17 )     162       250  
Balance at September 30, 2017     500       103       1,720       1,009       1,859       9       179       5,379  

 

(Dollars in thousands)   Three and nine months ended September 30, 2016  
    One-to-four family residential real estate     Construction and land     Commercial real estate     Commercial     Agriculture     Municipal     Consumer     Total  
                                                 
Allowance for loan losses:                                                                
Balance at July 1, 2016   $ 584     $ 89     $ 1,776     $ 1,393     $ 1,600     $ 23     $ 187     $ 5,652  
Charge-offs     (14 )        -       -       -       (215 )     -       (89 )     (318 )
Recoveries     3       -       -       9       -       -       11       23  
Provision for loan losses     36       (7 )     (40 )     (28 )     88       -       101       150  
Balance at September 30, 2016     609       82       1,736       1,374       1,473       23       210       5,507  
                                                                 
Balance at January 1, 2016   $ 925     $ 77     $ 1,740     $ 1,530     $ 1,428     $ 23     $ 199     $ 5,922  
Charge-offs     (14 )     -       -       (306 )     (298 )     -       (374 )     (992 )
Recoveries     8       -       -       29       -       6       34       77  
Provision for loan losses     (310 )     5       (4 )     121       343       (6 )     351       500  
Balance at September 30, 2016     609       82       1,736       1,374       1,473       23       210       5,507  

  

The following tables provide information on the Company’s activity in the allowance for loan losses by loan class and allowance methodology:

 

(Dollars in thousands)   As of September 30, 2017  
    One-to-four family residential real estate     Construction and land     Commercial real estate     Commercial     Agriculture     Municipal     Consumer     Total  
                                                 
Allowance for loan losses:                                                                
Individually evaluated for loss     15       36       53       35       111       -       -       250  
Collectively evaluated for loss     485       67       1,667       974       1,748       9       179       5,129  
Total     500       103       1,720       1,009       1,859       9       179       5,379  
                                                                 
Loan balances:                                                                
Individually evaluated for loss     531       2,083       3,999       1,579       883       140       44       9,259  
Collectively evaluated for loss     136,298       13,815       116,819       49,365       83,218       3,339       21,941       424,795  
Total   $ 136,829     $ 15,898     $ 120,818     $ 50,944     $ 84,101     $ 3,479     $ 21,985     $ 434,054  

 

(Dollars in thousands)   As of December 31, 2016  
    One-to-four family residential real estate     Construction and land     Commercial real estate     Commercial     Agriculture     Municipal     Consumer     Total  
                                                 
Allowance for loan losses:                                                                
Individually evaluated for loss     -       -       81       87       89       -       17       274  
Collectively evaluated for loss     504       53       1,696       1,032       1,595       12       178       5,070  
Total     504       53       1,777       1,119       1,684       12       195       5,344  
                                                                 
Loan balances:                                                                
Individually evaluated for loss     780       1,937       2,445       355       881       258       72       6,728  
Collectively evaluated for loss     136,066       11,801       115,755       54,151       77,443       3,626       20,199       419,041  
Total   $ 136,846     $ 13,738     $ 118,200     $ 54,506     $ 78,324     $ 3,884     $ 20,271     $ 425,769  
Schedule of Impaired Financing Receivables

The following tables present information on impaired loans:

 

(Dollars in thousands)   As of September 30, 2017  
    Unpaid contractual principal     Impaired loan balance     Impaired loans without an allowance     Impaired loans with an allowance     Related allowance recorded     Year-to-date average loan balance     Year-to-date interest income recognized  
                                           
One-to-four family residential real estate   $ 531     $ 531     $ 496     $ 35     $ 15     $ 552     $ 6  
Construction and land     3,818       2,083       1,885       198       36       2,030       49  
Commercial real estate     3,999       3,999       3,939       60       53       4,017       368  
Commercial     1,579       1,579       1,372       207       35       1,660       -  
Agriculture     1,098       883       486       397       111       992       7  
Municipal     140       140       140       -       -       209       4  
Consumer     44       44       44       -       -       47       -  
Total impaired loans   $ 11,209     $ 9,259     $ 8,362     $ 897     $ 250     $ 9,507     $ 434  

 

(Dollars in thousands)   As of December 31, 2016  
    Unpaid contractual principal     Impaired loan balance     Impaired loans without an allowance     Impaired loans with an allowance     Related allowance recorded     Year-to-date average loan balance     Year-to-date interest income recognized  
                                           
One-to-four family residential real estate   $ 780     $ 780     $ 780     $ -     $ -     $ 798     $ 7  
Construction and land     3,672       1,937       1,937       -       -       2,068       72  
Commercial real estate     2,445       2,445       2,145       300       81       2,587       505  
Commercial     355       355       46       309       87       425       2  
Agriculture     1,173       881       147       734       89       1,000       2  
Municipal     258       258       258       -       -       418       -  
Consumer     72       72       55       17       17       78       13  
Total impaired loans   $ 8,755     $ 6,728     $ 5,368     $ 1,360     $ 274     $ 7,374     $ 601  
Schedule of Past Due Financing Receivables

The following tables present information on the Company’s past due and non-accrual loans by loan class:

 

(Dollars in thousands)   As of September 30, 2017  
    30-59 days
delinquent
and
accruing		     60-89 days
delinquent
and
accruing		     90 days or
more
delinquent
and accruing		     Total past
due loans
accruing		     Non-accrual
loans		     Total past
due and
non-accrual
loans		     Total loans
not past
due		  
                                           
One-to-four family residential real estate   $ 1,163     $ 253     $ -     $ 1,416     $ 333     $ 1,749     $ 135,080  
Construction and land     86       346       -       432       786       1,218       14,680  
Commercial real estate     210       -       -       210       1,864       2,074       118,744  
Commercial     50       -       -       50       1,579       1,629       49,315  
Agriculture     588       90       -       678       883       1,561       82,540  
Municipal     -       -       -       -       -       -       3,479  
Consumer     122       5       -       127       44       171       21,814  
Total   $ 2,219     $ 694     $ -     $ 2,913     $ 5,489     $ 8,402     $ 425,652  
                                                         
Percent of gross loans     0.51 %     0.16 %     0.00 %     0.67 %     1.26 %     1.94 %     98.06 %

 

(Dollars in thousands)   As of December 31, 2016  
    30-59 days
delinquent
and
accruing		     60-89 days
delinquent
and
accruing		     90 days or
more
delinquent
and
accruing		     Total past
due loans
accruing		     Non-accrual
loans		     Total past
due and
non-accrual
loans		     Total loans
not past
due		  
                                           
One-to-four family residential real estate   $ 215     $ 388     $ -     $ 603     $ 595     $ 1,198     $ 135,648  
Construction and land     -       -       -       -       599       599       13,139  
Commercial real estate     -       -       -       -       300       300       117,900  
Commercial     13       5       -       18       342       360       54,146  
Agriculture     55       -       -       55       838       893       77,431  
Municipal     -       -       -       -       -       -       3,884  
Consumer     79       3       -       82       72       154       20,117  
Total   $ 362     $ 396     $ -     $ 758     $ 2,746     $ 3,504     $ 422,265  
                                                         
Percent of gross loans     0.09 %     0.09 %     0.00 %     0.18 %     0.64 %     0.82 %     99.18 %
Schedule of Risk Categories by Loan Class

The following table provides information on the Company’s risk categories by loan class:

 

(Dollars in thousands)   As of September 30, 2017     As of December 31, 2016  
    Nonclassified     Classified     Nonclassified     Classified  
                         
One-to-four family residential real estate   $ 136,064     $ 765     $ 135,640     $ 1,206  
Construction and land     15,112       786       13,138       600  
Commercial real estate     115,000       5,818       111,641       6,559  
Commercial     47,685       3,259       51,080       3,426  
Agriculture     79,430       4,671       73,564       4,760  
Municipal     3,479       -       3,884       -  
Consumer     21,932       53       20,181       90  
Total   $ 418,702     $ 15,352     $ 409,128     $ 16,641  
Schedule of Troubled Debt Restructurings On Financing Receivables

The following table presents information on loans that are classified as TDRs:

 

(Dollars in thousands)   As of September 30, 2017     As of December 31, 2016  
    Number
of loans		     Non-accrual
balance		     Accruing
balance		     Number
of loans		     Non-accrual
balance		     Accruing
balance		  
                                     
One-to-four family residential real estate     2     $ -     $ 198       2     $ -     $ 185  
Construction and land     4       578       1,297       4       588       1,338  
Commercial real estate     4       60       2,135       3       64       2,145  
Commercial     -       -       -       2       -       13  
Agriculture     8       361       -       4       268       44  
Municipal     2       -       140       2       -       258  
Total troubled debt restructurings     20     $ 999     $ 3,770       17     $ 920     $ 3,983