XML 48 R36.htm IDEA: XBRL DOCUMENT v3.22.4
Loans and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Summary of Loans A summary of loans at December 31, 2022 and 2021 follows (in thousands):

 

 

 

2022

 

 

2021

 

Construction and land development

 

$

144,387

 

 

$

145,156

 

Agricultural real estate

 

 

410,790

 

 

 

279,001

 

1-4 family residential properties

 

 

440,018

 

 

 

399,932

 

Multifamily residential properties

 

 

295,073

 

 

 

298,974

 

Commercial real estate

 

 

2,036,243

 

 

 

1,666,764

 

Loans secured by real estate

 

 

3,326,511

 

 

 

2,789,827

 

Agricultural loans

 

 

166,695

 

 

 

151,344

 

Commercial and industrial loans

 

 

1,085,004

 

 

 

834,061

 

Consumer loans

 

 

97,730

 

 

 

78,538

 

All other loans

 

 

159,499

 

 

 

143,738

 

Gross loans

 

 

4,835,439

 

 

 

3,997,508

 

Less: Loans held for sale

 

 

338

 

 

 

2,748

 

 

 

 

4,835,101

 

 

 

3,994,760

 

Less:

 

 

 

 

 

 

Net deferred loan fees, premiums and discounts

 

 

9,227

 

 

 

1,985

 

Allowance for credit losses

 

 

59,093

 

 

 

54,655

 

Net loans

 

$

4,766,781

 

 

$

3,938,120

 
Allowance for Credit Losses Based on Portfolio Segment

The following tables present the balance in the allowance for credit losses and the recorded investment in loans based on portfolio segment and impairment method as of December 31, 2022, 2021, and 2020 (in thousands):

 

 

 

Construction
and Land
Development

 

 

Agricultural
Real Estate

 

 

1-4 Family
Residential
Properties

 

 

Commercial
Real Estate

 

 

Agricultural
Loans

 

 

Commercial
and
Industrial

 

 

Consumer
Loans

 

 

Total

 

Twelve months ended December 31, 2022

 

Beginning Balance

 

$

1,743

 

 

$

1,257

 

 

$

2,330

 

 

$

26,246

 

 

$

983

 

 

$

19,241

 

 

$

2,855

 

 

$

54,655

 

Initial allowance on loans purchased with credit deterioration

 

 

272

 

 

 

—

 

 

 

3

 

 

 

478

 

 

 

—

 

 

 

94

 

 

 

16

 

 

 

863

 

Provision for credit loss expense

 

 

137

 

 

 

176

 

 

 

1,241

 

 

 

1,462

 

 

 

(359

)

 

 

2,135

 

 

 

14

 

 

 

4,806

 

Loans charged off

 

 

2

 

 

 

—

 

 

 

191

 

 

 

414

 

 

 

93

 

 

 

870

 

 

 

1,380

 

 

 

2,950

 

Recoveries collected

 

 

100

 

 

 

—

 

 

 

359

 

 

 

385

 

 

 

54

 

 

 

208

 

 

 

613

 

 

 

1,719

 

Ending balance

 

$

2,250

 

 

$

1,433

 

 

$

3,742

 

 

$

28,157

 

 

$

585

 

 

$

20,808

 

 

$

2,118

 

 

$

59,093

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve months ended December 31, 2021

 

Beginning Balance

 

$

1,666

 

 

$

1,084

 

 

$

2,322

 

 

$

19,660

 

 

$

1,526

 

 

$

13,485

 

 

$

2,167

 

 

$

41,910

 

Initial allowance on loans purchased with credit deterioration

 

 

261

 

 

 

44

 

 

 

328

 

 

 

646

 

 

 

—

 

 

 

795

 

 

 

—

 

 

 

2,074

 

Provision for credit loss expense

 

 

21

 

 

 

129

 

 

 

(160

)

 

 

6,415

 

 

 

(544

)

 

 

7,940

 

 

 

1,350

 

 

 

15,151

 

Loans charged off

 

 

205

 

 

 

—

 

 

 

371

 

 

 

535

 

 

 

—

 

 

 

3,118

 

 

 

1,405

 

 

 

5,634

 

Recoveries collected

 

 

—

 

 

 

—

 

 

 

211

 

 

 

60

 

 

 

1

 

 

 

139

 

 

 

743

 

 

 

1,154

 

Ending balance

 

$

1,743

 

 

$

1,257

 

 

$

2,330

 

 

$

26,246

 

 

$

983

 

 

$

19,241

 

 

$

2,855

 

 

$

54,655

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve months ended December 31, 2020

 

Beginning Balance (prior to adoption of ASC 326)

 

$

1,146

 

 

$

1,093

 

 

$

1,386

 

 

$

11,198

 

 

$

1,386

 

 

$

9,273

 

 

$

1,429

 

 

$

26,911

 

Impact of adopting ASC 326

 

 

(113

)

 

 

230

 

 

 

756

 

 

 

541

 

 

 

(363

)

 

 

155

 

 

 

466

 

 

 

1,672

 

Provision for credit loss expense

 

 

646

 

 

 

(239

)

 

 

274

 

 

 

8,581

 

 

 

503

 

 

 

5,869

 

 

 

469

 

 

 

16,103

 

Loans charged off

 

 

13

 

 

 

—

 

 

 

393

 

 

 

829

 

 

 

—

 

 

 

1,991

 

 

 

618

 

 

 

3,844

 

Recoveries collected

 

 

—

 

 

 

—

 

 

 

299

 

 

 

169

 

 

 

—

 

 

 

179

 

 

 

421

 

 

 

1,068

 

Ending balance

 

$

1,666

 

 

$

1,084

 

 

$

2,322

 

 

$

19,660

 

 

$

1,526

 

 

$

13,485

 

 

$

2,167

 

 

$

41,910

 
Amortized Cost Basis of Collateral-Dependent Loans by Class of Loans Individually Evaluated

The following table presents the amortized cost basis of collateral-dependent loans by class of loans that were individually evaluated to determine expected credit losses, and the related allowance for credit losses, as of December 31, 2022 (in thousands):

 

 

 

Collateral

 

 

Allowance

 

 

 

Real Estate

 

 

Business
Assets

 

 

Other

 

 

Total

 

 

for Credit
Losses

 

Construction and land development

 

$

449

 

 

$

—

 

 

$

—

 

 

$

449

 

 

$

221

 

Agricultural real estate

 

 

—

 

 

 

—

 

 

 

16

 

 

 

16

 

 

 

—

 

1-4 family residential properties

 

 

1,085

 

 

 

144

 

 

 

—

 

 

 

1,229

 

 

 

58

 

Multifamily residential properties

 

 

660

 

 

 

—

 

 

 

—

 

 

 

660

 

 

 

—

 

Commercial real estate

 

 

8,442

 

 

 

647

 

 

 

—

 

 

 

9,089

 

 

 

459

 

Loans secured by real estate

 

 

10,636

 

 

 

791

 

 

 

16

 

 

 

11,443

 

 

 

738

 

Agricultural loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial and industrial loans

 

 

196

 

 

 

349

 

 

 

—

 

 

 

545

 

 

 

—

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

1

 

 

1

 

 

 

—

 

All other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total loans

 

$

10,832

 

 

$

1,140

 

 

$

17

 

 

$

11,989

 

 

$

738

 
Credit Risk Profile of Loan Portfolio Based on Risk Rating Category and Payment Activity The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of December 31, 2022 (in thousands):

 

 

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

2018

 

 

Prior

 

 

Loans

 

 

Total

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development loans

 

Pass

 

$

63,846

 

 

$

39,790

 

 

$

12,558

 

 

$

15,787

 

 

$

1,210

 

 

$

10,601

 

 

$

—

 

 

$

143,792

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

14

 

 

 

—

 

 

 

458

 

 

 

—

 

 

 

472

 

Total

 

$

63,846

 

 

$

39,790

 

 

$

12,558

 

 

$

15,801

 

 

$

1,210

 

 

$

11,059

 

 

$

—

 

 

$

144,264

 

Agricultural real estate loans

 

Pass

 

$

171,833

 

 

$

67,115

 

 

$

58,283

 

 

$

23,820

 

 

$

27,573

 

 

$

52,799

 

 

$

—

 

 

$

401,423

 

Special mention

 

 

1,123

 

 

 

—

 

 

 

490

 

 

 

1,240

 

 

 

273

 

 

 

3,121

 

 

 

—

 

 

 

6,247

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,383

 

 

 

1,274

 

 

 

—

 

 

 

2,657

 

Total

 

$

172,956

 

 

$

67,115

 

 

$

58,773

 

 

$

25,060

 

 

$

29,229

 

 

$

57,194

 

 

$

—

 

 

$

410,327

 

1-4 family residential property loans

 

Pass

 

$

94,377

 

 

$

86,717

 

 

$

78,977

 

 

$

27,580

 

 

$

30,809

 

 

$

63,050

 

 

$

43,722

 

 

$

425,232

 

Special mention

 

 

169

 

 

 

218

 

 

 

1

 

 

 

44

 

 

 

238

 

 

 

1,000

 

 

 

—

 

 

 

1,670

 

Substandard

 

 

1,060

 

 

 

566

 

 

 

529

 

 

 

295

 

 

 

2,749

 

 

 

8,079

 

 

 

—

 

 

 

13,278

 

Total

 

$

95,606

 

 

$

87,501

 

 

$

79,507

 

 

$

27,919

 

 

$

33,796

 

 

$

72,129

 

 

$

43,722

 

 

$

440,180

 

Commercial real estate loans

 

Pass

 

$

558,921

 

 

$

509,614

 

 

$

319,049

 

 

$

239,564

 

 

$

211,505

 

 

$

453,076

 

 

$

—

 

 

$

2,291,729

 

Special mention

 

 

2,187

 

 

 

1,287

 

 

 

769

 

 

 

1,508

 

 

 

952

 

 

 

8,503

 

 

 

—

 

 

 

15,206

 

Substandard

 

 

3,783

 

 

 

478

 

 

 

794

 

 

 

873

 

 

 

5,394

 

 

 

6,100

 

 

 

—

 

 

 

17,422

 

Total

 

$

564,891

 

 

$

511,379

 

 

$

320,612

 

 

$

241,945

 

 

$

217,851

 

 

$

467,679

 

 

$

—

 

 

$

2,324,357

 

Agricultural loans

 

Pass

 

$

137,327

 

 

$

18,783

 

 

$

3,433

 

 

$

3,918

 

 

$

915

 

 

$

254

 

 

$

—

 

 

$

164,630

 

Special mention

 

 

1,178

 

 

 

—

 

 

 

—

 

 

 

756

 

 

 

66

 

 

 

109

 

 

 

—

 

 

 

2,109

 

Substandard

 

 

53

 

 

 

—

 

 

 

—

 

 

 

46

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

99

 

Total

 

$

138,558

 

 

$

18,783

 

 

$

3,433

 

 

$

4,720

 

 

$

981

 

 

$

363

 

 

$

—

 

 

$

166,838

 

Commercial and industrial loans

 

Pass

 

$

450,001

 

 

$

226,038

 

 

$

172,208

 

 

$

63,906

 

 

$

61,929

 

 

$

247,404

 

 

$

—

 

 

$

1,221,486

 

Special mention

 

 

469

 

 

 

640

 

 

 

10,095

 

 

 

570

 

 

 

7,280

 

 

 

158

 

 

 

—

 

 

 

19,212

 

Substandard

 

 

346

 

 

 

418

 

 

 

184

 

 

 

35

 

 

 

157

 

 

 

633

 

 

 

—

 

 

 

1,773

 

Total

 

$

450,816

 

 

$

227,096

 

 

$

182,487

 

 

$

64,511

 

 

$

69,366

 

 

$

248,195

 

 

$

—

 

 

$

1,242,471

 

Consumer loans

 

Pass

 

$

48,600

 

 

$

21,088

 

 

$

12,101

 

 

$

7,968

 

 

$

1,945

 

 

$

5,630

 

 

$

—

 

 

$

97,332

 

Special mention

 

 

—

 

 

 

18

 

 

 

1

 

 

 

—

 

 

 

5

 

 

 

—

 

 

 

—

 

 

 

24

 

Substandard

 

 

69

 

 

 

246

 

 

 

3

 

 

 

43

 

 

 

52

 

 

 

6

 

 

 

—

 

 

 

419

 

Total

 

$

48,669

 

 

$

21,352

 

 

$

12,105

 

 

$

8,011

 

 

$

2,002

 

 

$

5,636

 

 

$

—

 

 

$

97,775

 

Total loans

 

Pass

 

$

1,524,905

 

 

$

969,145

 

 

$

656,609

 

 

$

382,543

 

 

$

335,886

 

 

$

832,814

 

 

$

43,722

 

 

$

4,745,624

 

Special mention

 

 

5,126

 

 

 

2,163

 

 

 

11,356

 

 

 

4,118

 

 

 

8,814

 

 

 

12,891

 

 

 

—

 

 

 

44,468

 

Substandard

 

 

5,311

 

 

 

1,708

 

 

 

1,510

 

 

 

1,306

 

 

 

9,735

 

 

 

16,550

 

 

 

—

 

 

 

36,120

 

Total

 

$

1,535,342

 

 

$

973,016

 

 

$

669,475

 

 

$

387,967

 

 

$

354,435

 

 

$

862,255

 

 

$

43,722

 

 

$

4,826,212

 

 

 

 

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2021

 

 

2020

 

 

2019

 

 

2018

 

 

2017

 

 

Prior

 

 

Loans

 

 

Total

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development loans

 

Pass

 

$

38,656

 

 

$

34,774

 

 

$

23,505

 

 

$

34,358

 

 

$

3,760

 

 

$

9,433

 

 

$

—

 

 

$

144,486

 

Special mention

 

 

110

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

110

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

483

 

 

 

—

 

 

 

39

 

 

 

—

 

 

 

522

 

Total

 

$

38,766

 

 

$

34,774

 

 

$

23,505

 

 

$

34,841

 

 

$

3,760

 

 

$

9,472

 

 

$

—

 

 

$

145,118

 

Agricultural real estate loans

 

Pass

 

$

78,793

 

 

$

64,159

 

 

$

25,713

 

 

$

30,203

 

 

$

12,142

 

 

$

54,808

 

 

$

—

 

 

$

265,818

 

Special mention

 

 

872

 

 

 

259

 

 

 

4,028

 

 

 

384

 

 

 

69

 

 

 

6,087

 

 

 

—

 

 

 

11,699

 

Substandard

 

 

—

 

 

 

—

 

 

 

392

 

 

 

187

 

 

 

57

 

 

 

1,119

 

 

 

—

 

 

 

1,755

 

Total

 

$

79,665

 

 

$

64,418

 

 

$

30,133

 

 

$

30,774

 

 

$

12,268

 

 

$

62,014

 

 

$

—

 

 

$

279,272

 

1-4 family residential property loans

 

Pass

 

$

78,889

 

 

$

94,404

 

 

$

35,554

 

 

$

44,248

 

 

$

30,735

 

 

$

52,131

 

 

$

42,800

 

 

$

378,761

 

Special mention

 

 

234

 

 

 

—

 

 

 

1,934

 

 

 

499

 

 

 

2,601

 

 

 

1,196

 

 

 

41

 

 

 

6,505

 

Substandard

 

 

355

 

 

 

496

 

 

 

1,534

 

 

 

1,302

 

 

 

3,458

 

 

 

7,250

 

 

 

652

 

 

 

15,047

 

Total

 

$

79,478

 

 

$

94,900

 

 

$

39,022

 

 

$

46,049

 

 

$

36,794

 

 

$

60,577

 

 

$

43,493

 

 

$

400,313

 

Commercial real estate loans

 

Pass

 

$

568,200

 

 

$

417,334

 

 

$

299,973

 

 

$

174,448

 

 

$

150,811

 

 

$

304,585

 

 

$

—

 

 

$

1,915,351

 

Special mention

 

 

3,185

 

 

 

1,206

 

 

 

1,836

 

 

 

1,295

 

 

 

10,609

 

 

 

8,632

 

 

 

—

 

 

 

26,763

 

Substandard

 

 

2,007

 

 

 

714

 

 

 

6,242

 

 

 

1,179

 

 

 

4,646

 

 

 

8,238

 

 

 

—

 

 

 

23,026

 

Total

 

$

573,392

 

 

$

419,254

 

 

$

308,051

 

 

$

176,922

 

 

$

166,066

 

 

$

321,455

 

 

$

—

 

 

$

1,965,140

 

Agricultural loans

 

Pass

 

$

105,378

 

 

$

17,903

 

 

$

5,612

 

 

$

2,822

 

 

$

924

 

 

$

1,316

 

 

$

—

 

 

$

133,955

 

Special mention

 

 

13,725

 

 

 

436

 

 

 

2,648

 

 

 

150

 

 

 

13

 

 

 

64

 

 

 

—

 

 

 

17,036

 

Substandard

 

 

350

 

 

 

18

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

125

 

 

 

—

 

 

 

493

 

Total

 

$

119,453

 

 

$

18,357

 

 

$

8,260

 

 

$

2,972

 

 

$

937

 

 

$

1,505

 

 

$

—

 

 

$

151,484

 

Commercial and industrial loans

 

Pass

 

$

279,814

 

 

$

167,662

 

 

$

119,702

 

 

$

76,022

 

 

$

22,888

 

 

$

302,962

 

 

$

—

 

 

$

969,050

 

Special mention

 

 

613

 

 

 

399

 

 

 

1,463

 

 

 

182

 

 

 

477

 

 

 

819

 

 

 

—

 

 

 

3,953

 

Substandard

 

 

506

 

 

 

34

 

 

 

133

 

 

 

621

 

 

 

24

 

 

 

1,433

 

 

 

—

 

 

 

2,751

 

Total

 

$

280,933

 

 

$

168,095

 

 

$

121,298

 

 

$

76,825

 

 

$

23,389

 

 

$

305,214

 

 

$

—

 

 

$

975,754

 

Consumer loans

 

Pass

 

$

27,948

 

 

$

19,033

 

 

$

16,978

 

 

$

5,505

 

 

$

4,297

 

 

$

1,244

 

 

$

—

 

 

$

75,005

 

Special mention

 

 

68

 

 

 

54

 

 

 

38

 

 

 

9

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

169

 

Substandard

 

 

585

 

 

 

58

 

 

 

308

 

 

 

678

 

 

 

43

 

 

 

1,596

 

 

 

—

 

 

 

3,268

 

Total

 

$

28,601

 

 

$

19,145

 

 

$

17,324

 

 

$

6,192

 

 

$

4,340

 

 

$

2,840

 

 

$

—

 

 

$

78,442

 

Total loans

 

Pass

 

$

1,177,678

 

 

$

815,269

 

 

$

527,037

 

 

$

367,606

 

 

$

225,557

 

 

$

726,479

 

 

$

42,800

 

 

$

3,882,426

 

Special mention

 

 

18,807

 

 

 

2,354

 

 

 

11,947

 

 

 

2,519

 

 

 

13,769

 

 

 

16,798

 

 

 

41

 

 

 

66,235

 

Substandard

 

 

3,803

 

 

 

1,320

 

 

 

8,609

 

 

 

4,450

 

 

 

8,228

 

 

 

19,800

 

 

 

652

 

 

 

46,862

 

Total

 

$

1,200,288

 

 

$

818,943

 

 

$

547,593

 

 

$

374,575

 

 

$

247,554

 

 

$

763,077

 

 

$

43,493

 

 

$

3,995,523

 
Loan Portfolio Aging Analysis

The following table presents the Company’s loan portfolio aging analysis at December 31, 2022 and 2021 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

90 Days

 

 

 

 

 

 

 

 

 

 

 

Loans > 90

 

 

 

30-59 days

 

 

60-89 days

 

 

or More

 

 

Total

 

 

 

 

 

Total Loans

 

 

days and

 

 

 

Past Due

 

 

Past Due

 

 

Past Due

 

 

Past Due

 

 

Current

 

 

Receivable

 

 

Accruing

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

20

 

 

$

14

 

 

$

449

 

 

$

483

 

 

$

143,781

 

 

$

144,264

 

 

$

—

 

Agricultural real estate

 

 

20

 

 

 

6

 

 

 

1

 

 

 

27

 

 

 

410,300

 

 

 

410,327

 

 

 

—

 

1-4 family residential properties

 

 

1,706

 

 

 

1,092

 

 

 

896

 

 

 

3,694

 

 

 

436,486

 

 

 

440,180

 

 

 

—

 

Multifamily residential properties

 

 

—

 

 

 

—

 

 

 

548

 

 

 

548

 

 

 

293,798

 

 

 

294,346

 

 

 

—

 

Commercial real estate

 

 

494

 

 

 

205

 

 

 

3,654

 

 

 

4,353

 

 

 

2,025,658

 

 

 

2,030,011

 

 

 

—

 

Loans secured by real estate

 

 

2,240

 

 

 

1,317

 

 

 

5,548

 

 

 

9,105

 

 

 

3,310,023

 

 

 

3,319,128

 

 

 

—

 

Agricultural loans

 

 

—

 

 

 

53

 

 

 

29

 

 

 

82

 

 

 

166,756

 

 

 

166,838

 

 

 

—

 

Commercial and industrial loans

 

 

716

 

 

 

24

 

 

 

854

 

 

 

1,594

 

 

 

1,081,366

 

 

 

1,082,960

 

 

 

—

 

Consumer loans

 

 

326

 

 

 

195

 

 

 

278

 

 

 

799

 

 

 

96,976

 

 

 

97,775

 

 

 

—

 

All other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

159,511

 

 

 

159,511

 

 

 

—

 

Total loans

 

$

3,282

 

 

$

1,589

 

 

$

6,709

 

 

$

11,580

 

 

$

4,814,632

 

 

$

4,826,212

 

 

$

—

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

159

 

 

$

199

 

 

$

203

 

 

$

561

 

 

$

144,557

 

 

$

145,118

 

 

$

—

 

Agricultural real estate

 

 

—

 

 

 

222

 

 

 

1

 

 

 

223

 

 

 

279,049

 

 

 

279,272

 

 

 

—

 

1-4 family residential properties

 

 

2,532

 

 

 

914

 

 

 

2,012

 

 

 

5,458

 

 

 

394,855

 

 

 

400,313

 

 

 

—

 

Multifamily residential properties

 

 

—

 

 

 

—

 

 

 

1,676

 

 

 

1,676

 

 

 

297,266

 

 

 

298,942

 

 

 

—

 

Commercial real estate

 

 

8,930

 

 

 

640

 

 

 

2,484

 

 

 

12,054

 

 

 

1,654,144

 

 

 

1,666,198

 

 

 

—

 

Loans secured by real estate

 

 

11,621

 

 

 

1,975

 

 

 

6,376

 

 

 

19,972

 

 

 

2,769,871

 

 

 

2,789,843

 

 

 

—

 

Agricultural loans

 

 

—

 

 

 

10

 

 

 

588

 

 

 

598

 

 

 

150,886

 

 

 

151,484

 

 

 

—

 

Commercial and industrial loans

 

 

381

 

 

 

302

 

 

 

1,156

 

 

 

1,839

 

 

 

830,169

 

 

 

832,008

 

 

 

—

 

Consumer loans

 

 

388

 

 

 

47

 

 

 

118

 

 

 

553

 

 

 

77,889

 

 

 

78,442

 

 

 

—

 

All other loans

 

 

1,854

 

 

 

—

 

 

 

—

 

 

 

1,854

 

 

 

141,892

 

 

 

143,746

 

 

 

—

 

Total loans

 

$

14,244

 

 

$

2,334

 

 

$

8,238

 

 

$

24,816

 

 

$

3,970,707

 

 

$

3,995,523

 

 

$

—

 
Recorded Balance of Loans on Nonaccrual Loans

The following table presents the Company’s recorded balance of nonaccrual loans at December 31, 2022 and December 31, 2021 (in thousands). This table excludes performing purchased credit deteriorated loans and performing troubled debt restructurings.

 

 

 

2022

 

 

2021

 

 

 

Nonaccrual
with no
Allowance for

 

 

 

 

 

Nonaccrual
with no
Allowance for

 

 

 

 

 

 

Credit Loss

 

 

Nonaccrual

 

 

Credit Loss

 

 

Nonaccrual

 

Construction and land development

 

$

14

 

 

$

14

 

 

$

25

 

 

$

25

 

Agricultural real estate

 

 

1,258

 

 

 

1,258

 

 

 

237

 

 

 

336

 

1-4 family residential properties

 

 

4,532

 

 

 

4,943

 

 

 

5,252

 

 

 

5,252

 

Multifamily residential properties

 

 

672

 

 

 

672

 

 

 

1,982

 

 

 

1,982

 

Commercial real estate

 

 

7,640

 

 

 

7,640

 

 

 

7,554

 

 

 

7,920

 

Loans secured by real estate

 

 

14,116

 

 

 

14,527

 

 

 

15,050

 

 

 

15,515

 

Agricultural loans

 

 

57

 

 

 

57

 

 

 

560

 

 

 

560

 

Commercial and industrial loans

 

 

1,098

 

 

 

1,098

 

 

 

936

 

 

 

1,851

 

Consumer loans

 

 

274

 

 

 

274

 

 

 

179

 

 

 

179

 

Total loans

 

$

15,545

 

 

$

15,956

 

 

$

16,725

 

 

$

18,105

 
Recorded Balance of Troubled Debt Restructurings

The following table presents the Company’s recorded balance of troubled debt restructurings at December 31, 2022 and 2021 (in thousands).

 

Troubled debt restructurings:

 

2022

 

 

2021

 

Agricultural real estate

 

$

351

 

 

$

245

 

1-4 family residential properties

 

 

1,165

 

 

 

1,353

 

Commercial real estate

 

 

2,919

 

 

 

3,355

 

Loans secured by real estate

 

 

4,435

 

 

 

4,953

 

Agricultural loans

 

 

—

 

 

 

228

 

Commercial and industrial loans

 

 

591

 

 

 

479

 

Consumer loans

 

 

38

 

 

 

109

 

All other loans

 

 

—

 

 

 

23

 

Total

 

$

5,064

 

 

$

5,792

 

Performing troubled debt restructurings:

 

 

 

 

 

 

Agricultural real estate

 

$

233

 

 

$

245

 

1-4 family residential properties

 

 

846

 

 

 

882

 

Commercial real estate

 

 

1,939

 

 

 

2,552

 

Loans secured by real estate

 

 

3,018

 

 

 

3,679

 

Commercial and industrial loans

 

 

159

 

 

 

179

 

Consumer loans

 

 

37

 

 

 

50

 

All other loans

 

 

—

 

 

 

23

 

Total

 

$

3,214

 

 

$

3,931

 
Loans Modified as Troubled Debt Restructurings

The following table presents loans modified as TDRs during the years ended December 31, 2022 and 2021 as a result of various modified loan factors (dollars in thousands). The change in the recorded investment from pre-modification to post-modification was not material.

 

 

 

December 31, 2022

 

 

December 31, 2021

 

 

 

Number of

 

 

Recorded

 

 

Number of

 

 

Recorded

 

 

 

Modifications

 

 

Investment

 

 

Modifications

 

 

Investment

 

Agricultural real estate

 

 

2

 

 

$

97

 

 

 

1

 

 

$

245

 

1-4 family residential properties

 

 

4

 

 

 

422

 

 

 

1

 

 

 

183

 

Commercial real estate

 

 

2

 

 

 

196

 

 

 

1

 

 

 

679

 

Loans secured by real estate

 

 

8

 

 

 

715

 

 

 

3

 

 

 

1,107

 

Commercial and industrial loans

 

 

4

 

 

 

325

 

 

 

2

 

 

 

254

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

4

 

 

 

50

 

All other loans

 

 

—

 

 

 

—

 

 

 

1

 

 

 

23

 

Total

 

 

12

 

 

$

1,040

 

 

 

10

 

 

$

1,434

 

 
Summary of Purchased Credit Deteriorated (PCD) Loans

During 2022 and 2021, the Company acquired loans from Delta and LINCO, respectively, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans is as follows (in thousands):

 

 

 

Delta Acquisition

 

LINCO Acquisition

 

Purchase price of purchase credit deteriorated loans at acquisition

 

$

18,796

 

$

64,647

 

Allowance for credit losses at acquisition

 

 

(863

)

 

(2,074

)

Non-credit discount/(premium) at acquisition

 

 

(523

)

 

(187

)

Fair value of purchased credit deteriorated loans at acquisition

 

$

17,410

 

$

62,386