Loans and Allowance for Credit Losses (Tables)
|
3 Months Ended |
Mar. 31, 2023 |
Receivables [Abstract] |
|
Schedule of corporation’s loan portfolio by category of loans |
| |
March 31, |
| |
2023 |
| |
$ |
| |
|
Agriculture | |
| 240,006 | |
Business Loans | |
| 353,537 | |
Consumer | |
| 6,061 | |
Home Equity | |
| 100,743 | |
Non-Owner Occupied Commercial Real Estate | |
| 119,412 | |
Residential Real Estate (a) | |
| 434,215 | |
| |
| | |
Gross loans prior to deferred costs | |
| 1,253,974 | |
| |
| | |
Deferred loan costs, net | |
| 2,625 | |
Allowance for credit losses | |
| (16,054 | ) |
Total net loans (b) | |
| 1,240,545 | |
(a) | Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $295,917,000 as of March 31,
2023. |
(b) | Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to the adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
|
Schedule of category of loans and impact of the change from the adoption of the standard |
|
|
|
|
|
|
|
|
Post Adoption |
|
|
|
December 31, |
|
|
Adoption |
|
|
January, 1 |
|
|
|
2022 |
|
|
Impact |
|
|
2023 |
|
|
|
$ |
|
|
$ |
|
|
$ |
|
Agriculture |
|
|
— |
|
|
|
238,734 |
|
|
|
238,734 |
|
Business Loans |
|
|
— |
|
|
|
336,340 |
|
|
|
336,340 |
|
Home Equity |
|
|
— |
|
|
|
98,854 |
|
|
|
98,854 |
|
Non-Owner Occupied CRE |
|
|
— |
|
|
|
111,333 |
|
|
|
111,333 |
|
Residential Real Estate (a) |
|
|
— |
|
|
|
397,260 |
|
|
|
397,260 |
|
Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial mortgages |
|
|
210,823 |
|
|
|
(210,823 |
) |
|
|
— |
|
Agriculture mortgages |
|
|
221,167 |
|
|
|
(221,167 |
) |
|
|
— |
|
Construction |
|
|
86,793 |
|
|
|
(86,793 |
) |
|
|
— |
|
Total commercial real estate |
|
|
518,783 |
|
|
|
(518,783 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer real estate (a) |
|
|
|
|
|
|
|
|
|
|
|
|
1-4 family residential mortgages |
|
|
410,301 |
|
|
|
(410,301 |
) |
|
|
— |
|
Home equity loans |
|
|
11,937 |
|
|
|
(11,937 |
) |
|
|
— |
|
Home equity lines of credit |
|
|
98,349 |
|
|
|
(98,349 |
) |
|
|
— |
|
Total consumer real estate |
|
|
520,587 |
|
|
|
(520,587 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
87,528 |
|
|
|
(87,528 |
) |
|
|
— |
|
Tax-free loans |
|
|
28,664 |
|
|
|
(28,664 |
) |
|
|
— |
|
Agriculture loans |
|
|
27,122 |
|
|
|
(27,122 |
) |
|
|
— |
|
Total commercial and industrial |
|
|
143,314 |
|
|
|
(143,314 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
5,769 |
|
|
|
163 |
| |
|
5,932 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross loans prior to deferred fees |
|
|
1,188,453 |
|
|
|
— |
|
|
|
1,188,453 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred loan costs, net |
|
|
2,664 |
|
|
|
|
|
|
|
|
|
Allowance for credit losses |
|
|
(14,151 |
) |
|
|
|
|
|
|
|
|
Total net loans |
|
|
1,176,966 |
|
|
|
|
|
|
|
|
|
(a) | Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $298,375,000 as of December
31, 2022. |
|
Schedule of classes of the loan portfolio summarized by the past-due status |
| |
March 31, 2023 | |
| |
| | |
31-60 | | |
61-90 | | |
Greater Than | | |
| | |
| |
| |
| | |
Days | | |
Days | | |
90 Days | | |
Total | | |
Total | |
| |
Current | | |
Past Due | | |
Past Due | | |
Past Due | | |
Past Due | | |
Loans | |
| |
| | |
| | |
| | |
| | |
| | |
| |
Agriculture | |
$ | 239,264 | | |
$ | 473 | | |
$ | — | | |
$ | 269 | | |
$ | 742 | | |
$ | 240,006 | |
Business Loans | |
| 353,325 | | |
| 58 | | |
| — | | |
| 154 | | |
| 212 | | |
| 353,537 | |
Consumer | |
| 5,994 | | |
| 31 | | |
| 1 | | |
| 35 | | |
| 67 | | |
| 6,061 | |
Home Equity | |
| 100,566 | | |
| 154 | | |
| 23 | | |
| — | | |
| 177 | | |
| 100,743 | |
Non-Owner Occupied CRE | |
| 119,412 | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 119,412 | |
Residential Real Estate | |
| 433,737 | | |
| 341 | | |
| — | | |
| 137 | | |
| 478 | | |
| 434,215 | |
Total (a) | |
$ | 1,252,298 | | |
$ | 1,057 | | |
$ | 24 | | |
$ | 595 | | |
$ | 1,676 | | |
$ | 1,253,974 | |
(a) | Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption
of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
| |
December 31, 2022 | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
Loans | |
| |
| | |
| | |
Greater | | |
| | |
| | |
| | |
Receivable > | |
| |
30-59 Days | | |
60-89 Days | | |
than 90 | | |
Total Past | | |
| | |
Total Loans | | |
90 Days and | |
| |
Past Due | | |
Past Due | | |
Days | | |
Due | | |
Current | | |
Receivable | | |
Accruing | |
| |
$ | | |
$ | | |
$ | | |
$ | | |
$ | | |
$ | | |
$ | |
Commercial real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Commercial mortgages | |
| — | | |
| — | | |
| 554 | | |
| 554 | | |
| 210,269 | | |
| 210,823 | | |
| — | |
Agriculture mortgages | |
| — | | |
| — | | |
| 2,787 | | |
| 2,787 | | |
| 218,380 | | |
| 221,167 | | |
| — | |
Construction | |
| — | | |
| — | | |
| — | | |
| — | | |
| 86,793 | | |
| 86,793 | | |
| — | |
Consumer real estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
1-4 family residential mortgages | |
| 905 | | |
| — | | |
| 447 | | |
| 1,352 | | |
| 408,949 | | |
| 410,301 | | |
| 139 | |
Home equity loans | |
| 17 | | |
| — | | |
| 339 | | |
| 356 | | |
| 11,581 | | |
| 11,937 | | |
| — | |
Home equity lines of credit | |
| 165 | | |
| 16 | | |
| — | | |
| 181 | | |
| 98,168 | | |
| 98,349 | | |
| — | |
Commercial and industrial | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Commercial and industrial | |
| — | | |
| — | | |
| 190 | | |
| 190 | | |
| 87,338 | | |
| 87,528 | | |
| — | |
Tax-free loans | |
| — | | |
| — | | |
| — | | |
| — | | |
| 28,664 | | |
| 28,664 | | |
| — | |
Agriculture loans | |
| — | | |
| — | | |
| — | | |
| — | | |
| 27,122 | | |
| 27,122 | | |
| — | |
Consumer | |
| 9 | | |
| 5 | | |
| 30 | | |
| 44 | | |
| 5,725 | | |
| 5,769 | | |
| 30 | |
Total | |
| 1,096 | | |
| 21 | | |
| 4,347 | | |
| 5,464 | | |
| 1,182,989 | | |
| 1,188,453 | | |
| 169 | |
|
Schedule of amortized cost basis of loans on nonaccrual status and loans past due |
| |
| | |
| | |
| | |
| | |
| |
| |
Nonaccrual | | |
Nonaccrual | | |
| | |
Loans Past | | |
| |
| |
with no | | |
with | | |
Total | | |
Due Over 90 Days | | |
Total | |
| |
ACL | | |
ACL | | |
Nonaccrual | | |
Still Accruing | | |
Nonperforming | |
| |
| | |
| | |
| | |
| | |
| |
Agriculture | |
$ | 1,005 | | |
$ | — | | |
$ | 1,005 | | |
$ | 269 | | |
$ | 1,274 | |
Business Loans | |
| 2,509 | | |
| — | | |
| 2,509 | | |
| — | | |
| 2,509 | |
Consumer Loans | |
| — | | |
| — | | |
| — | | |
| 35 | | |
| 35 | |
Home Equity | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Non-Owner Occupied CRE | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Residential Real Esate | |
| — | | |
| — | | |
| — | | |
| 137 | | |
| 137 | |
Total (a) | |
$ | 3,514 | | |
$ | — | | |
$ | 3,514 | | |
$ | 441 | | |
$ | 3,955 | |
(a) | Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption
of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
|
Schedule of nonperforming loans |
| |
December 31, | |
| |
2022 | |
| |
$ | |
| |
| |
Commercial real estate | |
| | |
Commercial mortgages | |
| 554 | |
Agriculture mortgages | |
| 2,787 | |
Construction | |
| — | |
Consumer real estate | |
| | |
1-4 family residential mortgages | |
| 308 | |
Home equity loans | |
| 339 | |
Home equity lines of credit | |
| — | |
Commercial and industrial | |
| | |
Commercial and industrial | |
| 190 | |
Tax-free loans | |
| — | |
Agriculture loans | |
| — | |
Consumer | |
| — | |
Total | |
| 4,178 | |
|
Schedule of recorded investment by internal risk rating system for commercial credit exposure |
| |
| |
| |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
| |
Revolving | |
Revolving | |
|
| |
Term Loans Amortized Costs Basis by Origination Year | |
Loans | |
Loans | |
|
| |
| |
| |
| |
| |
| |
| |
Amortized | |
Converted | |
|
March 31, 2023 | |
2023 | |
2022 | |
2021 | |
2020 | |
2019 | |
Prior | |
Cost Basis | |
to Term | |
Total |
Agriculture | |
| |
| |
| |
| |
| |
| |
| |
| |
|
Risk Rating | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Pass | |
$ | 9,568 | | |
$ | 45,812 | | |
$ | 52,338 | | |
$ | 21,590 | | |
$ | 16,144 | | |
$ | 65,217 | | |
$ | 23,566 | | |
$ | — | | |
$ | 234,235 | |
Special Mention | |
| — | | |
| 74 | | |
| 505 | | |
| — | | |
| 199 | | |
| 1,246 | | |
| 76 | | |
| — | | |
| 2,100 | |
Substandard | |
| — | | |
| — | | |
| — | | |
| 763 | | |
| 288 | | |
| 2,585 | | |
| 35 | | |
| — | | |
| 3,671 | |
Doubtful | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Total | |
$ | 9,568 | | |
$ | 45,886 | | |
$ | 52,843 | | |
$ | 22,353 | | |
$ | 16,631 | | |
$ | 69,048 | | |
$ | 23,677 | | |
$ | — | | |
$ | 240,006 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Agriculture | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Current period gross charge-offs | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Business Loans | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Risk Rating | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Pass | |
$ | 18,194 | | |
$ | 104,502 | | |
$ | 72,834 | | |
$ | 40,876 | | |
$ | 17,883 | | |
$ | 54,141 | | |
$ | 37,884 | | |
$ | — | | |
$ | 346,314 | |
Special Mention | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Substandard | |
| 3,036 | | |
| 1,622 | | |
| — | | |
| 317 | | |
| — | | |
| 1,308 | | |
| 940 | | |
| — | | |
| 7,223 | |
Doubtful | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Total | |
$ | 21,230 | | |
$ | 106,124 | | |
$ | 72,834 | | |
$ | 41,193 | | |
$ | 17,883 | | |
$ | 55,449 | | |
$ | 38,824 | | |
$ | — | | |
$ | 353,537 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Business Loans | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Current period gross charge-offs | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Non-Owner Occupied CRE | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Risk Rating | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Pass | |
$ | 7,587 | | |
$ | 42,243 | | |
$ | 26,412 | | |
$ | 13,336 | | |
$ | 8,062 | | |
$ | 13,887 | | |
$ | 4,605 | | |
$ | — | | |
$ | 116,132 | |
Special Mention | |
| — | | |
| 548 | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 548 | |
Substandard | |
| — | | |
| — | | |
| — | | |
| — | | |
| 2,413 | | |
| 319 | | |
| — | | |
| — | | |
| 2,732 | |
Doubtful | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Total | |
$ | 7,587 | | |
$ | 42,791 | | |
$ | 26,412 | | |
$ | 13,336 | | |
$ | 10,475 | | |
$ | 14,206 | | |
$ | 4,605 | | |
$ | — | | |
$ | 119,412 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Non-Owner Occupied CRE | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Current period gross charge-offs | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Total | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Risk Rating | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Pass | |
$ | 35,349 | | |
$ | 192,557 | | |
$ | 151,584 | | |
$ | 75,802 | | |
$ | 42,089 | | |
$ | 133,245 | | |
$ | 66,055 | | |
$ | — | | |
$ | 696,681 | |
Special Mention | |
| — | | |
| 622 | | |
| 505 | | |
| — | | |
| 199 | | |
| 1,246 | | |
| 76 | | |
| — | | |
| 2,648 | |
Substandard | |
| 3,036 | | |
| 1,622 | | |
| — | | |
| 1,080 | | |
| 2,701 | | |
| 4,212 | | |
| 975 | | |
| — | | |
| 13,626 | |
Doubtful | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Total (a) | |
$ | 38,385 | | |
$ | 194,801 | | |
$ | 152,089 | | |
$ | 76,882 | | |
$ | 44,989 | | |
$ | 138,703 | | |
$ | 67,106 | | |
$ | — | | |
$ | 712,955 | |
(a) | Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to
adoption of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| |
| | |
| | |
| | |
| | |
| | |
| | |
Revolving | | |
Revolving | | |
| |
| |
Term Loans Amortized Costs Basis by Origination Year | | |
Loans | | |
Loans | | |
| |
| |
| | |
| | |
| | |
| | |
| | |
| | |
Amortized | | |
Converted | | |
| |
March 31, 2023 | |
2023 | | |
2022 | | |
2021 | | |
2020 | | |
2019 | | |
Prior | | |
Cost Basis | | |
to Term | | |
Total | |
Consumer | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
Payment Performance | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Performing | |
$ | 1,670 | | |
$ | 1,756 | | |
$ | 747 | | |
$ | 336 | | |
$ | 82 | | |
$ | 8 | | |
$ | 1,427 | | |
$ | — | | |
$ | 6,026 | |
Nonperforming | |
| — | | |
| 7 | | |
| 21 | | |
| — | | |
| — | | |
| 7 | | |
| — | | |
| — | | |
| 35 | |
Total | |
$ | 1,670 | | |
$ | 1,763 | | |
$ | 768 | | |
$ | 336 | | |
$ | 82 | | |
$ | 15 | | |
$ | 1,427 | | |
$ | — | | |
$ | 6,061 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Consumer | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Current period gross charge-offs | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | 1 | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | 1 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Home equity | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Payment Performance | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Performing | |
$ | — | | |
$ | 20,660 | | |
$ | 1,151 | | |
$ | 659 | | |
$ | 618 | | |
$ | 2,393 | | |
$ | 72,563 | | |
$ | 2,699 | | |
$ | 100,743 | |
Nonperforming | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Total | |
$ | — | | |
$ | 20,660 | | |
$ | 1,151 | | |
$ | 659 | | |
$ | 618 | | |
$ | 2,393 | | |
$ | 72,563 | | |
$ | 2,699 | | |
$ | 100,743 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Home equity | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Current period gross charge-offs | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Residential Real Estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Payment Performance | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Performing | |
$ | 30,002 | | |
$ | 161,355 | | |
$ | 111,396 | | |
$ | 46,244 | | |
$ | 34,016 | | |
$ | 51,065 | | |
$ | — | | |
$ | — | | |
$ | 434,078 | |
Nonperforming | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 137 | | |
| — | | |
| — | | |
| 137 | |
Total | |
$ | 30,002 | | |
$ | 161,355 | | |
$ | 111,396 | | |
$ | 46,244 | | |
$ | 34,016 | | |
$ | 51,202 | | |
$ | — | | |
$ | — | | |
$ | 434,215 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Residential Real Estate | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Current period gross charge-offs | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Total | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Payment Performance | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Performing | |
$ | 34,373 | | |
$ | 183,771 | | |
$ | 113,294 | | |
$ | 47,239 | | |
$ | 34,716 | | |
$ | 53,466 | | |
$ | 73,990 | | |
$ | — | | |
$ | 540,849 | |
Nonperforming | |
| — | | |
| 7 | | |
| 21 | | |
| — | | |
| — | | |
| 144 | | |
| — | | |
| — | | |
| 172 | |
Total (a) | |
$ | 34,373 | | |
$ | 183,778 | | |
$ | 113,315 | | |
$ | 47,239 | | |
$ | 34,716 | | |
$ | 53,610 | | |
$ | 73,990 | | |
$ | — | | |
$ | 541,021 | |
|
Schedule of credit risk profile by internally assigned grade |
December 31, 2022 | |
Commercial
Mortgages | |
Agriculture
Mortgages | |
Construction | |
Commercial
and
Industrial | |
Tax-free
Loans | |
Agriculture
Loans | |
Total |
| |
$ | |
$ | |
$ | |
$ | |
$ | |
$ | |
$ |
Grade: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Pass | |
| 209,534 | | |
| 214,905 | | |
| 83,240 | | |
| 85,977 | | |
| 28,664 | | |
| 26,749 | | |
| 649,069 | |
Special Mention | |
| — | | |
| 1,966 | | |
| 3,553 | | |
| 893 | | |
| — | | |
| 132 | | |
| 6,544 | |
Substandard | |
| 1,289 | | |
| 4,296 | | |
| — | | |
| 658 | | |
| — | | |
| 241 | | |
| 6,484 | |
Doubtful | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Loss | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Total | |
| 210,823 | | |
| 221,167 | | |
| 86,793 | | |
| 87,528 | | |
| 28,664 | | |
| 27,122 | | |
| 662,097 | |
|
Schedule of credit risk profile by payment performance |
December 31, 2022 | |
1-4 Family
Residential
Mortgages | |
Home Equity
Loans | |
Home Equity
Lines of
Credit | |
Consumer | |
Total |
Payment performance: | |
$ | |
$ | |
$ | |
$ | |
$ |
| |
| |
| |
| |
| |
|
Performing | |
| 409,854 | | |
| 11,598 | | |
| 98,349 | | |
| 5,739 | | |
| 525,539 | |
Non-performing | |
| 447 | | |
| 339 | | |
| — | | |
| 30 | | |
| 816 | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Total | |
| 410,301 | | |
| 11,937 | | |
| 98,349 | | |
| 5,769 | | |
| 526,355 | |
|
Schedule of impaired loans |
| |
Three Months Ended March 31 |
| |
2022 |
| |
$ |
| |
|
Average recorded balance of impaired loans | |
| 2,878 | |
Interest income recognized on impaired loans | |
| 8 | |
|
Schedule of impaired loan analysis |
IMPAIRED LOAN ANALYSIS | |
| |
| |
|
(DOLLARS IN THOUSANDS) | |
| |
| |
|
December 31, 2022 | |
Recorded
Investment | |
Unpaid
Principal
Balance | |
Related
Allowance |
| |
$ | |
$ | |
$ |
| |
| |
| |
|
With no related allowance recorded: | |
| | | |
| | | |
| | |
Commercial real estate | |
| | | |
| | | |
| | |
Commercial mortgages | |
| 1,201 | | |
| 1,271 | | |
| — | |
Agriculture mortgages | |
| 3,229 | | |
| 3,348 | | |
| — | |
Construction | |
| — | | |
| — | | |
| — | |
Total commercial real estate | |
| 4,430 | | |
| 4,619 | | |
| — | |
| |
| | | |
| | | |
| | |
Commercial and industrial | |
| | | |
| | | |
| | |
Commercial and industrial | |
| 190 | | |
| 199 | | |
| — | |
Tax-free loans | |
| — | | |
| — | | |
| — | |
Agriculture loans | |
| — | | |
| — | | |
| — | |
Total commercial and industrial | |
| 190 | | |
| 199 | | |
| — | |
| |
| | | |
| | | |
| | |
Total with no related allowance | |
| 4,620 | | |
| 4,818 | | |
| — | |
| |
| | | |
| | | |
| | |
With an allowance recorded: | |
| | | |
| | | |
| | |
Commercial real estate | |
| | | |
| | | |
| | |
Commercial mortgages | |
| — | | |
| — | | |
| — | |
Agriculture mortgages | |
| — | | |
| — | | |
| — | |
Construction | |
| — | | |
| — | | |
| — | |
Total commercial real estate | |
| — | | |
| — | | |
| — | |
| |
| | | |
| | | |
| | |
Commercial and industrial | |
| | | |
| | | |
| | |
Commercial and industrial | |
| — | | |
| — | | |
| — | |
Tax-free loans | |
| — | | |
| — | | |
| — | |
Agriculture loans | |
| — | | |
| — | | |
| — | |
Total commercial and industrial | |
| — | | |
| — | | |
| — | |
| |
| | | |
| | | |
| | |
Total with a related allowance | |
| — | | |
| — | | |
| — | |
| |
| | | |
| | | |
| | |
Total by loan class: | |
| | | |
| | | |
| | |
Commercial real estate | |
| | | |
| | | |
| | |
Commercial mortgages | |
| 1,201 | | |
| 1,271 | | |
| — | |
Agriculture mortgages | |
| 3,229 | | |
| 3,348 | | |
| — | |
Construction | |
| — | | |
| — | | |
| — | |
Total commercial real estate | |
| 4,430 | | |
| 4,619 | | |
| — | |
| |
| | | |
| | | |
| | |
Commercial and industrial | |
| | | |
| | | |
| | |
Commercial and industrial | |
| 190 | | |
| 199 | | |
| — | |
Tax-free loans | |
| — | | |
| — | | |
| — | |
Agriculture loans | |
| — | | |
| — | | |
| — | |
Total commercial and industrial | |
| 190 | | |
| 199 | | |
| — | |
| |
| | | |
| | | |
| | |
Total | |
| 4,620 | | |
| 4,818 | | |
| — | |
|
Schedule of allowance for credit losses by portfolio segment |
| |
| | |
Impact of | | |
| | |
| | |
| | |
| |
| |
Beginning | | |
adopting | | |
| | |
| | |
Provisions | | |
Ending | |
| |
Balance | | |
ASC 326 | | |
Charge-offs | | |
Recoveries | | |
(Reductions) | | |
Balance | |
Allowance for credit losses: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Commercial Real Estate | |
$ | 6,074 | | |
$ | (6,074 | ) | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
Consumer Real Estate | |
| 5,442 | | |
| (5,442 | ) | |
| — | | |
| — | | |
| — | | |
| — | |
Commerical & Industrial | |
| 2,151 | | |
| (2,151 | ) | |
| — | | |
| — | | |
| — | | |
| — | |
Consumer | |
| 67 | | |
| (67 | ) | |
| — | | |
| — | | |
| — | | |
| — | |
Agriculture | |
| — | | |
| 3,537 | | |
| — | | |
| 63 | | |
| (9 | ) | |
| 3,591 | |
Business Loans | |
| — | | |
| 3,382 | | |
| — | | |
| 13 | | |
| 78 | | |
| 3,473 | |
Consumer Loans | |
| — | | |
| 250 | | |
| (1 | ) | |
| — | | |
| 21 | | |
| 270 | |
Home Equity | |
| — | | |
| 2,129 | | |
| — | | |
| — | | |
| 189 | | |
| 2,318 | |
Non-Owner Occupied CRE | |
| — | | |
| 875 | | |
| — | | |
| — | | |
| 67 | | |
| 942 | |
Residential Real Estate | |
| — | | |
| 4,658 | | |
| — | | |
| 1 | | |
| 801 | | |
| 5,460 | |
Unallocated | |
| 417 | | |
| (417 | ) | |
| — | | |
| — | | |
| — | | |
| — | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Total (a) | |
$ | 14,151 | | |
$ | 680 | | |
$ | (1 | ) | |
$ | 77 | | |
$ | 1,147 | | |
$ | 16,054 | |
(a) | Refer to Note 1, Accounting Pronouncements Adopted in 2023 for details of reclassification of the portfolio segments related to adoption
of ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
|
Schedule of allowance for credit losses |
| |
Commercial
Real Estate | |
Consumer
Real Estate | |
Commercial
and Industrial | |
Consumer | |
Unallocated | |
Total |
| |
$ | |
$ | |
$ | |
$ | |
$ | |
$ |
Allowance for credit losses: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Beginning balance - December 31, 2021 | |
| 6,263 | | |
| 3,834 | | |
| 2,112 | | |
| 87 | | |
| 635 | | |
| 12,931 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Charge-offs | |
| (65 | ) | |
| — | | |
| — | | |
| (1 | ) | |
| — | | |
| (66 | ) |
Recoveries | |
| — | | |
| 3 | | |
| 10 | | |
| 1 | | |
| — | | |
| 14 | |
Provision | |
| (90 | ) | |
| 41 | | |
| 193 | | |
| (16 | ) | |
| (28 | ) | |
| 100 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance - March 31, 2022 | |
| 6,108 | | |
| 3,878 | | |
| 2,315 | | |
| 71 | | |
| 607 | | |
| 12,979 | |
|
Schedule of allowance for credit losses and recorded investment in loans receivable |
As of March 31, 2023: | |
Agriculture | |
Business
Loans | |
Consumer
Loans | |
Home
Equity | |
Non-
Owner
Occupied
CRE | |
Residential
Real Estate | |
Total |
| |
$ | |
$ | |
$ | |
$ | |
$ | |
$ | |
$ |
Allowance for credit losses: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Ending balance: individually evaluated | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Ending balance: collectively evaluated | |
| 3,591 | | |
| 3,473 | | |
| 270 | | |
| 2,318 | | |
| 942 | | |
| 5,460 | | |
| 16,054 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Loans receivable: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Ending balance | |
| 240,006 | | |
| 353,537 | | |
| 6,061 | | |
| 100,743 | | |
| 119,412 | | |
| 434,215 | | |
| 1,253,974 | |
Ending balance: individually evaluated | |
| 2,591 | | |
| 1,351 | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 3,942 | |
Ending balance: collectively evaluated | |
| 237,415 | | |
| 352,186 | | |
| 6,061 | | |
| 100,743 | | |
| 119,412 | | |
| 434,215 | | |
| 1,250,032 | |
As of December 31, 2022: | |
Commercial Real
Estate | |
Consumer
Real Estate | |
Commercial
and Industrial | |
Consumer | |
Unallocated | |
Total |
| |
$ | |
$ | |
$ | |
$ | |
$ | |
$ |
Allowance for credit losses: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Ending balance: individually evaluated for impairment | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Ending balance: collectively evaluated for impairment | |
| 6,074 | | |
| 5,442 | | |
| 2,151 | | |
| 67 | | |
| 417 | | |
| 14,151 | |
Loans receivable: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Ending balance | |
| 518,783 | | |
| 520,587 | | |
| 143,314 | | |
| 5,769 | | |
| | | |
| 1,188,453 | |
Ending balance: individually evaluated for impairment | |
| 4,430 | | |
| — | | |
| 190 | | |
| — | | |
| | | |
| 4,620 | |
Ending balance: collectively evaluated for impairment | |
| 514,353 | | |
| 520,587 | | |
| 143,124 | | |
| 5,769 | | |
| | | |
| 1,183,833 | |
|