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Note 4 - Loans and the Allowance for Credit Losses
 9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

4. LOANS AND THE ALLOWANCE FOR CREDIT LOSSES

 

Outstanding loans are summarized below, in thousands:

 

  

September 30,

  

December 31,

 
  

2024

  

2023

 
         

Commercial

 $82,192  $74,271 

Agricultural

  121,709   129,389 

Real estate – residential

  11,672   11,914 

Real estate – commercial

  618,236   544,339 

Real estate – construction and land development

  54,287   57,717 

Equity lines of credit (Equity LOC)

  37,652   37,871 

Auto

  72,388   98,132 

Other

  5,352   4,931 

Total loans

  1,003,488   958,564 

Deferred loan costs, net

  3,188   2,907 

Loans, amortized cost basis

  1,006,676   961,471 

Allowance for credit losses

  (13,606)  (12,867)

Total net loans

 $993,070  $948,604 

 

Salaries and employee benefits totaling $2,062,000 and $1,765,000 have been deferred as loan origination costs during the nine months ended September 30, 2024 and 2023, respectively. Salaries and employee benefits totaling $599,000 and $694,000 have been deferred as loan origination costs during the three months ended September 30, 2024 and 2023, respectively.

 

The Company assigns a risk rating to all loans and periodically, but not less than annually, performs detailed reviews of all criticized and classified loans over $100,000 to identify credit risks and to assess the overall collectability of the portfolio. These risk ratings are also subject to examination by independent specialists engaged by the Company and the Company’s regulators. During these internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which borrowers operate and the fair values of collateral securing these loans. These credit quality indicators are used to assign a risk rating to each individual loan.

 

The risk ratings can be grouped into three major categories, defined as follows:

 

Special Mention – Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

 

Substandard – A substandard loan is not adequately protected by the current sound worth and paying capacity of the borrower or the value of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Well defined weaknesses include a project's lack of marketability, inadequate cash flow or collateral support, failure to complete construction on time or the project's failure to fulfill economic expectations. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.

 

Doubtful – Loans classified doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable.

 

Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be pass-rated loans.

 

For other loans, which are primarily consumer loans and automobile loans the Company evaluates credit quality based on the aging status of the loan and by payment activity. Non-performing loans consist of nonaccrual loans and loans past due 90 days or more and still accruing. 

 

Other Real Estate Owned

 

Other real estate owned relates to real estate acquired in full or partial settlement of loan obligations. At September 30, 2024 other real estate owned totaled $141,000, consisting of one single family residential real estate (SFR) property.  At December 31, 2023 other real estate owned totaled $357,000 also consisting of one SFR property. There was one commercial real estate loan with a balance of $53,000 secured by a SFR property for which formal foreclosure proceedings were in process at September 30, 2024 and one consumer mortgage loan with a balance of $122,000 secured by a SFR property for which formal foreclosure proceedings were in process at December 31, 2023.

 

The following table presents the amortized cost basis of the loan portfolio allocated by management's internal risk ratings or payment activity at the dates indicated, in thousands:

 

  

Amortized Cost Basis by Origination Year and Risk Grades - As of September 30, 2024

             

(in thousands)

 

2024

  

2023

  

2022

  

2021

  

2020

  

Prior

  

Revolving Loans Book Amortized Cost Basis

  

Revolving Loans Converted to Term Amortized Cost Basis

  

Total - Amortized Cost Basis

 

Commercial

                                    

Pass

 $14,545  $13,303  $17,492  $9,541  $2,107  $7,839   15,065  $-  $79,892 

Special Mention

  83   16   177   464   -   39   48   -   827 

Substandard

  -   293   995   263   485   33   165   -   2,234 

Total Commercial loans

 $14,628  $13,612  $18,664  $10,268  $2,592  $7,911  $15,278  $-  $82,953 

Current period gross charge-offs

 $-  $-  $43  $-  $-  $22  $-  $-  $65 
                                     

Agricultural

                                    

Pass

 $5,465  $8,398  $15,322  $11,482  $14,351  $28,761  $14,067  $-  $97,846 

Special Mention

  2,159   56   1,237   358   1,400   1,476   2,097   -   8,783 

Substandard

  -   2,710   5,225   3,772   -   1,281   2,358   -   15,346 

Total Agricultural

 $7,624  $11,164  $21,784  $15,612  $15,751  $31,518  $18,522  $-  $121,975 

Current period gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $-  $- 
                                     

Real Estate - Residential

                                    

Pass

 $384  $1,111  $-  $2,087  $2,380  $4,954  $521  $-  $11,437 

Substandard

  -   -   -   -   -   262   -   -   262 

Total Real Estate - Residential

 $384  $1,111  $-  $2,087  $2,380  $5,216  $521  $-  $11,699 

Current period gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $-  $- 
                                     

Real Estate -Commercial

                                    

Pass

 $64,859  $83,296  $137,108  $83,211  $74,350  $161,143  $6,724  $-  $610,691 

Special Mention

  255   -   173   -   -   3,356   452   -   4,236 

Substandard

  -   -   620   -   742   2,511   -   -   3,873 

Total Real Estate -Commercial

 $65,114  $83,296  $137,901  $83,211  $75,092  $167,010  $7,176  $-  $618,800 

Current period gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $-  $- 
                                     

Real Estate -Construction

                                    

Pass

 $12,858  $26,111  $9,181  $3,679  $959  $854  $-  $-  $53,642 

Special Mention

  -   -   210   -   -   -   -   -   210 

Substandard

  112   -   -   -   -   -   -   -   112 

Total Real Estate -Construction

 $12,970  $26,111  $9,391  $3,679  $959  $854  $-  $-  $53,964 

Current period gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $-  $- 
                                     

Equity LOC

                                    

Pass

 $-  $-  $-  $-  $-  $-  $34,479  $3,483  $37,962 

Substandard

  -   -   -   -   -   -   259   287   546 

Total Equity LOC

 $-  $-  $-  $-  $-  $-  $34,738  $3,770  $38,508 

Current period gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $-  $- 
                                     

Total

                                    

Pass

 $98,111  $132,219  $179,103  $110,000  $94,147  $203,551  $70,856  $3,483  $891,470 

Special Mention

  2,497   72   1,797   822   1,400   4,871   2,597   -   14,056 

Substandard

  112   3,003   6,840   4,035   1,227   4,087   2,782   287   22,373 

Total

 $100,720  $135,294  $187,740  $114,857  $96,774  $212,509  $76,235  $3,770  $927,899 

Current period gross charge-offs

 $-  $-  $43  $-  $-  $22  $-  $-  $65 
                                     

Auto

                                    

Performing

 $-  $25,247  $24,649  $11,642  $5,548  $5,175  $-  $-  $72,261 

Non-performing

  -   242   247   255   225   154   -   -   1,123 

Total Auto

 $-  $25,489  $24,896  $11,897  $5,773  $5,329  $-  $-  $73,384 

Current period gross charge-offs

 $-  $296  $519  $154  $104  $219  $-  $-  $1,292 
                                     

Other

                                    

Performing

 $2,248  $1,481  $936  $436  $112  $11  $155  $-  $5,379 

Non-performing

  -   -   14      -   -   -   -   14 

Total Other

 $2,248  $1,481  $950  $436  $112  $11  $155  $-  $5,393 

Current period gross charge-offs

 $-  $4  $11  $31  $6  $12  $1  $-  $65 
                                     

Total

                                    

Performing

 $2,248  $26,728  $25,585  $12,078  $5,660  $5,186  $155  $-  $77,640 

Non-performing

  -   242   261   255   225   154   -   -   1,137 

Total

 $2,248  $26,970  $25,846  $12,333  $5,885  $5,340  $155  $-  $78,777 

Total Loans

 $102,968  $162,264  $213,586  $127,190  $102,659  $217,849  $76,390  $3,770  $1,006,676 

Total gross charge-offs

 $-  $300  $573  $185  $110  $253  $1  $-  $1,422 
                                     

 

  

Term Loans

             
  

Amortized Cost Basis by Origination Year and Risk Grades - As of December 31, 2023

             

(in thousands)

 

2023

  

2022

  

2021

  

2020

  

2019

  

Prior

  

Revolving Loans Book Balance Basis

  

Revolving loans converted to term Book Balance Basis

  

Total

 

Commercial

                                    

Pass

 $15,549  $18,995  $11,603  $3,472  $4,291  $5,165  $13,079  $-  $72,154 

Special Mention

  -   -   302   -   31   68   170   -   571 

Substandard

  -   1,532   289   340   -   24   23   -   2,208 

Total Commercial loans

 $15,549  $20,527  $12,194  $3,812  $4,322  $5,257  $13,272  $-  $74,933 

Current period gross charge-offs

 $-  $34  $40  $14  $-  $10  $25  $-  $123 
                                     

Agricultural

                                    

Pass

 $12,028  $17,382  $13,182  $15,550  $11,495  $20,704  $18,925  $-  $109,266 

Special Mention

  1,852   813   97   1,017   16   817   621   -   5,233 

Substandard

  6,226   6,878   1,075   -   752   248   -   -   15,179 

Total Agricultural

 $20,106  $25,073  $14,354  $16,567  $12,263  $21,769  $19,546  $-  $129,678 

Current period gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $-  $- 
                                     

Real Estate - Residential

                                    

Pass

 $1,127  $-  $2,143  $2,447  $524  $4,676  $201   -  $11,118 

Substandard

  -   -   -   -   59   765   -   -   824 

Total Real Estate - Residential

 $1,127  $-  $2,143  $2,447  $583  $5,441  $201   -  $11,942 

Current period gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $-  $- 
                                     

Real Estate -Commercial

                                    

Pass

 $74,595  $115,890  $90,436  $76,401  $40,256  $133,958  $6,246   -  $537,782 

Special Mention

  -   -   -   199   -   3,316   -   -   3,515 

Substandard

  -   12   -   281   353   2,271   -   -   2,917 

Total Real Estate -Commercial

 $74,595  $115,902  $90,436  $76,881  $40,609  $139,545  $6,246   -  $544,214 

Current period gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $-  $- 
                                     

Real Estate -Construction

                                    

Pass

 $18,878  $30,825  $3,717  $1,672  $619  $281  $1,368  $-  $57,360 

Total Real Estate -Construction

 $18,878  $30,825  $3,717  $1,672  $619  $281  $1,368  $-  $57,360 

Current period gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $-  $- 
                                     

Equity LOC

                                    

Pass

 $-  $-  $-  $-  $-  $-  $35,122  $3,018  $38,140 

Substandard

  -   -   -   -   -   -   319   254   573 

Total Equity LOC

 $-  $-  $-  $-  $-  $-  $35,441  $3,272  $38,713 

Current period gross charge-offs

 $-  $-  $-  $-  $-  $-  $-  $-  $- 
                                     

Total

                                    

Pass

 $122,177  $183,092  $121,081  $99,542  $57,185  $164,784  $74,941  $3,018  $825,820 

Special Mention

  1,852   813   399   1,216   47   4,201   791   -   9,319 

Substandard

  6,226   8,422   1,364   621   1,164   3,308   342   254   21,701 

Total

 $130,255  $192,327  $122,844  $101,379  $58,396  $172,293  $76,074  $3,272  $856,840 

Current period gross charge-offs

 $-  $34  $40  $14  $-  $10  $25  $-  $123 
                                     

Auto

                                    

Performing

 $31,880  $31,913  $16,246  $8,554  $6,329  $3,689  $-  $-  $98,611 

Non-performing

  167   228   179   210   228   37   -   -   1,049 

Total Auto

 $32,047  $32,141  $16,425  $8,764  $6,557  $3,726  $-  $-  $99,660 

Current period gross charge-offs

 $-  $367  $569  $237  $255  $122  $-  $-  $1,550 
                                     

Other

                                    

Performing

 $2,411  $1,354  $719  $252  $57  $15  $159  $-  $4,967 

Non-performing

  -   4   -   -   -   -   -   -   4 

Total Other

 $2,411  $1,358  $719  $252  $57  $15  $159  $-  $4,971 

Current period gross charge-offs

 $-  $70  $33  $9  $12  $3  $2  $-  $129 
                                     

Total

                                    

Performing

 $34,291  $33,267  $16,965  $8,806  $6,386  $3,704  $159  $-  $103,578 

Non-performing

  167   232   179   210   228   37   -   -   1,053 

Total

 $34,458  $33,499  $17,144  $9,016  $6,614  $3,741  $159  $-  $104,631 

Total Loans

 $164,713  $225,826  $139,988  $110,395  $65,010  $176,034  $76,233  $3,272  $961,471 

Total gross charge-offs

 $-  $471  $642  $260  $267  $135  $27  $-  $1,802 

 

The following table shows the ending balance of nonaccrual loans by loan category as of the date indicated:

 

  

Non Performing Loans

 
  

September 30, 2024

  

December 31, 2023

 

(in thousands)

 

Nonaccrual with no allowance for credit losses

  

Total nonaccrual

  

Past due 90 days or more and still accruing

  

Nonaccrual with no allowance for credit losses

  

Total nonaccrual

  

Past due 90 days or more and still accruing

 
                         

Commercial

 $333  $387  $-  $75  $132  $- 

Agricultural

  567   567   -   2,066   2,066   - 

Real estate – residential

  89   89   -   223   223   - 

Real estate – commercial

  1,729   1,729   -   774   774   - 

Real estate – construction & land development

  -   -   -   -   -   - 

Equity lines of credit

  546   546   -   572   572   - 

Auto

  1,123   1,123   -   1,049   1,049   - 

Other

  14   14   -   4   4   - 

Total Gross Loans

 $4,401  $4,455  $-  $4,763  $4,820  $- 

 

The Company places loans 90 days or more past due on nonaccrual status unless the loan is well secured and in the process of collection. A loan is considered to be in the process of collection if, based on a probable specific event, it is expected that the loan will be repaid or brought current. Generally, this collection period would not exceed 90 days. When a loan is placed on nonaccrual status the Company's general policy is to reverse and charge against current income previously accrued but unpaid interest. Interest income on such loans is subsequently recognized only to the extent that cash is received, and future collection of principal is deemed by management to be probable. Where the collectability of the principal or interest on a loan is considered to be doubtful by management, it is placed on nonaccrual status prior to becoming 90 days delinquent.

 

The following tables show interest reversed against interest income for loans placed on nonaccrual status during the three and nine months ended September 30, 2024 and 2023.

 

Three months ended:

        
         
(in thousands) September 30, 2024  September 30, 2023 

Commercial

 $6  $4 
Agricultural  29   - 
Real estate – commercial  26   4 
Auto  12   8 

Other

  -   1 

Total

 $73  $17 

 

Nine months ended:

        
         
(in thousands) September 30, 2024  September 30, 2023 

Commercial

 $10  $6 

Agricultural

  29   41 

Real estate – residential

  9   - 

Real estate – commercial

  40   23 

Equity Lines of Credit

  10   5 

Auto

  21   28 
Other  -   1 

Total

 $119  $104 

 

On September 30, 2024, there was one commercial nonaccrual loan with an amortized cost of $54,000 that had an allowance for credit losses totaling $26,000. On December 31, 2023, there was one commercial nonaccrual loan with an amortized cost of $57,000 that had an allowance for credit losses totaling $28,000. No income was recognized on nonaccrual loans accounted on a cash basis during the nine months ended September 30, 2024 and 2023.

 

The following table presents the amortized cost basis of loans at September 30, 2024, that were both experiencing financial difficulty and modified during the three months ended September 30, 2024, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financial receivable is also presented below.  

  

Term Extension

 

(in thousands)

 

Amortized Cost Basis

  

Total Class of Financing Receivable

 

Agricultural

  2,357   1.93%

 

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty as of September 30, 2024:

  

Weighted-Average Term Extension (in months)

 

Agricultural

  6.0 

 

The following table presents the amortized cost basis of loans at September 30, 2024, that were both experiencing financial difficulty and modified during then nine months ended September 30, 2024, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financial receivable is also presented below.

  

Term Extension

 

(in thousands)

 

Amortized Cost Basis

  

Total Class of Financing Receivable

 

Commercial

  32   0.04%

Agricultural

  2,413   1.98%

Total

 $2,445   0.24%

 

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty as of September 30, 2024:

  

Weighted-Average Term Extension (in months)

 

Commercial

  6.0 

Agricultural

  7.3 

Total

  7.2 

 

The following table presents the amortized cost basis of loans at September 30, 2023, that were both experiencing financial difficulty and modified during then three months ended September 30, 2023, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financial receivable is also presented below.

  

Term Extension

 

(in thousands)

 

Amortized Cost Basis

  

Total Class of Financing Receivable

 

Agricultural

  

837

   

0.64%

 

 

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty as of September 30, 2023:

  

Weighted-Average Term Extension (in months)

 

Agricultural

  7.0 

 

 

The following table presents the amortized cost basis of loans at September 30, 2023, that were both experiencing financial difficulty and modified during then nine months ended September 30, 2023, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financial receivable is also presented below.

 

  

Term Extension

 

(in thousands)

 

Amortized Cost Basis

  

Total Class of Financing Receivable

 

Commercial

  1,489   1.92%

Agricultural

  4,367   3.32%

Total

 $5,856   0.62%

 

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty as of September 30, 2023:

  

Weighted-Average Term Extension (in months)

 

Commercial

  6.0 

Agricultural

  10.0 

Total

  9.1 

 

Loans with payment defaults by borrowers experiencing financial difficulty during the nine months ended September 30, 2024, which had material modifications in rate, term or principal forgiveness during the twelve months prior to default totaled $4.8 million in agricultural loans which were 46 days past due at September 30, 2024, and one commercial loan totaling $32,000 which was 70 days past due at September 30, 2024.  The commercial loan experienced a payment default in the current three-month period while the agricultural loans experienced payment defaults during the six months ended June 30, 2024, as well as in the current three-month period.  Additionally, $1.3 million in agricultural loans that were in payment default earlier in the year, paid off in the current quarter.  There were no loans payment defaults by borrowers experiencing financial difficulty during the nine months ended September 30, 2023, which had material modifications in rate, term or principal forgiveness during the twelve months prior to default.    

 

The following tables show the allocation of the allowance for credit losses at the dates indicated, in thousands:

 

Nine Months Ended September 30, 2024:

 

Commercial

  

Agricultural

  

Real Estate-Residential

  

Real Estate-Commercial

  

Real Estate-Construction

  

Equity LOC

  

Auto

  

Other

  

Total

 

Allowance for credit losses

                                    

Beginning balance

 $1,134  $1,738  $137  $6,678  $797  $439  $1,865  $79  $12,867 

Charge-offs

  (65)  -   -   -   -   -   (1,292)  (65)  (1,422)

Recoveries

  21   -   3   -   -   -   642   20   686 

(Recovery of) provision for credit losses

  269   32   (30)  830   51   17   253   53   1,475 

Ending balance

 $1,359  $1,770  $110  $7,508  $848  $456  $1,468  $87  $13,606 

Three Months Ended September 30, 2024:

                                    

Allowance for credit losses

                                    

Beginning balance

 $1,426  $1,780  $121  $7,581  $973  $458  $1,654  $89  $14,082 

Charge-offs

  -   -   -   -   -   -   (396)  (16)  (412)

Recoveries

  6   -   1   -   -   -   266   13   286 

(Recovery of) provision for credit losses

  (73)  (10)  (12)  (73)  (125)  (2)  (56)  1   (350)

Ending balance

 $1,359  $1,770  $110  $7,508  $848  $456  $1,468  $87  $13,606 
                                     

Nine Months Ended September 30, 2023:

                                    

Allowance for credit losses

                                    

Beginning balance

 $892  $1,086  $138  $4,980  $1,500  $687  $1,289  $145  $10,717 

Impact of CECL Adoption

  354   148   2   1,488   (951)  (421)  9   (100)  529 

Charge-offs

  (108)  -   -   -   -   -   (1,042)  (102)  (1,252)

Recoveries

  17   -   2   2   -   -   458   49   528 

(Recovery of) provision for credit losses

  461   (73)  29   597   311   143   900   57   2,425 

Ending balance

 $1,616  $1,161  $171  $7,067  $860  $409  $1,614  $49  $12,947 

Three Months Ended September 30, 2023:

                                    

Allowance for credit losses

                                    

Beginning balance

 $1,547  $1,478  $169  $6,862  $866  $401  $1,566  $496  $13,385 

Charge-offs

  (59)  -   -   -   -   -   (438)  (17)  (514)

Recoveries

  5   -   -   1   -   -   153   42   201 

(Recovery of) provision for credit losses

  123   (317)  2   204   (6)  8   333   (472)  (125)

Ending balance

 $1,616  $1,161  $171  $7,067  $860  $409  $1,614  $49  $12,947 

 

The following tables summarize the activity in the reserve for unfunded commitments which is recorded on the balance sheet within other liabilities for the three and nine months ended September 30, 2024, and 2023.

 

Three months ended:

        
         
(in thousands) September 30, 2024  September 30, 2023 
Beginning balance $720  $924 

Recovery of provision for credit losses

  (50)  (75)

Ending balance

 $670  $849 

 

Nine months ended:

        
         
(in thousands) September 30, 2024  September 30, 2023 
Beginning balance $799  $341 
Impact of CECL Adoption  -   258 

(Recovery of) provision for credit losses

  (129)  250 

Ending balance

 $670  $849 

 

The following tables show an aging analysis of the loan portfolio by the time past due, in thousands:

 

                  

Total

         

September 30, 2024

         

90 Days

      

Past Due

         
  30-59 Days  60-89 Days  and Still      and         
  

Past Due

  

Past Due

  

Accruing

  

Nonaccrual

  

Nonaccrual

  

Current

  

Total

 
                             

Commercial

 $491  $118  $-  $387  $996  $81,957  $82,953 

Agricultural

  4,833   2,966   -   567   8,366   113,609   121,975 

Real estate – residential

  174   -   -   89   263   11,436   11,699 

Real estate – commercial

  923   709   -   1,729   3,361   615,439   618,800 

Real estate - construction & land

  857   110   -   -   967   52,997   53,964 

Equity Lines of Credit

  274   150   -   546   970   37,538   38,508 

Auto

  1,147   434   -   1,123   2,704   70,680   73,384 

Other

  59   7   -   14   80   5,313   5,393 

Total

 $8,758  $4,494  $-  $4,455  $17,707  $988,969  $1,006,676 

 

                  

Total

         

December 31, 2023

         

90 Days

      

Past Due

         
  30-89 Days  60-89 Days  and Still      and         
  

Past Due

  

Past Due

  

Accruing

  

Nonaccrual

  

Nonaccrual

  

Current

  

Total

 
                             

Commercial

 $21  $254  $-  $132  $407  $74,526  $74,933 

Agricultural

  82   -   -   2,066   2,148   127,530   129,678 

Real estate – residential

  348   423   -   223   994   10,948   11,942 

Real estate - commercial

  587   -   -   774   1,361   542,853   544,214 

Real estate - construction & land

  -   -   -   -   -   57,360   57,360 

Equity Lines of Credit

  473   53   -   572   1,098   37,615   38,713 

Auto

  1,729   405   -   1,049   3,183   96,477   99,660 

Other

  19   3   -   4   26   4,945   4,971 

Total

 $3,259  $1,138  $-  $4,820  $9,217  $952,254  $961,471 

 

 

The following tables present the amortized cost basis of collateral dependent loans by class of loans at September 30, 2024 in thousands:

 

          

Commercial -1st

  

SFR-1st

  

SFR-2nd

  

SFR-3rd

     
  

Equipment

  

Crops

  

Deed

  

Deed

  

Deed

  

Deed

  

Total

 
                             

Commercial

 $257  $-  $-  $-  $-  $-  $257 

Agricultural

  -   535   -   -   -   -   535 

Real estate – residential

  -   -   -   -   -   -   - 

Real estate – commercial

  -   -   1,500   53   27   50   1,630 

Real estate - construction & land

  -   -   -   -   -   -   - 

Equity Lines of Credit

  -   -   -   -   178   -   178 

Auto

  -   -   -   -   -   -   - 

Other

  -   -   -   -   -   -   - 

Total

 $257  $535  $1,500  $53  $205  $50  $2,600 

 

The following tables present the amortized cost basis of collateral dependent loans by class of loans at December 31, 2023 in thousands:

 

          

Commercial -1st

  

SFR-1st

  

SFR-2nd

  

SFR-3rd

     
  

Equipment

  

Crops

  

Deed

  

Deed

  

Deed

  

Deed

  

Total

 
                             

Commercial

 $55  $-  $-  $-  $-  $-  $55 

Agricultural

  -   2,066      -   -   -   2,066 

Real estate – residential

  -   -      122   -   -   122 

Real estate – commercial

  -   -   634   -   28   -   662 

Real estate - construction & land

  -   -      -   -   -   - 

Equity Lines of Credit

  -   -      105   190   -   295 

Auto

  -   -      -   -   -   - 

Other

  -   -      -   -   -   - 

Total

 $55  $2,066  $634  $227  $218  $-  $3,200