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Loans (Tables)
 6 Months Ended
Jun. 30, 2023
Loans [Abstract]  
Loan Portfolio and Allowance for Loan Losses The following table summarizes the primary segments of the loan portfolio and how those segments are analyzed within the allowance for credit losses - loans as of June 30, 2023 and December 31, 2022 (in thousands):


 
June 30, 2023
     December 31, 2022  
Real estate loans:
            
Residential
  
$
358,025
    
$
210,213
  
Commercial
    
1,080,513
      
876,569
  
Agricultural
    
312,302
      
313,614
  
Construction
    
156,927
      
80,691
  
Consumer
    
42,701
      
86,650
  
Other commercial loans
    
120,288
      
63,222
  
Other agricultural loans
    
30,615
      
34,832
  
State and political subdivision loans
    
61,471
      
59,208
  
Total
    
2,162,842
      
1,724,999
  
Allowance for credit losses - loans
    
21,652
      
18,552
  
Net loans
  
$
2,141,190
    
$
1,706,447
  
Components of the Allowance for Credit Losses

The following table presents the components of the allowance for credit losses as of June 30, 2023 (in thousands):

   
June 30, 2023
  
Allowance for Credit Losses - Loans
  
$
21,652
  
Allowance for Credit Losses - Off-Balance Sheet credit Exposure
    
1,391
  
Total allowance for credit losses
  
$
23,043
  

The following table presents the components of the allowance for credit losses as of December 31, 2022 (in thousands):


 
December 31, 2022
  
Allowance for loan Losses
  
$
18,552
  
Reserve for unfunded commitments
    
165
  
Total allowance for credit losses
  
$
18,717
  
Activity in Allowance for Credit Losses

The following table presents the activity in the allowance for credit losses for the three and six months ended June 30, 2023 (in thousands):

   
Allowance for Credit
Losses - Loans
    
Allowance for Credit Losses
- Off-Balance Sheet credit
Exposure
    
Total
  
Balance at March 31, 2023
  
$
15,250
    
$
1,229
    
$
16,479
  
Allowance for credit loss on PCD acquired loans
    
1,689
      
-
      
1,689
  
Loans charge-off
    
(4
)
    
-
      
(4
)
Recoveries of loans previously charged-off
    
26
      
-
      
26
  
Net loans charged-off
    
22
      
-
      
22
  
Provision for credit losses - acquisition day 1 non-PCD
    
4,591
      
-
      
4,591
  
Provision for credit losses
    
100
      
162
      
262
  
Balance at June 30, 2023
  
$
21,652
    
$
1,391
    
$
23,043
  

   
Allowance for Credit
Losses -Loans
   
Allowance for Credit Losses
- Off-Balance Sheet credit
Exposure
    Total
 
Balance at December 31, 2022
  
$
18,552
    
$
165
    
$
18,717
  
Impact of adopting CECL
    
(3,300
)
    
1,064
      
(2,236
)
Allowance for credit loss on PCD acquired loans
    
1,689
      
-
      
1,689
  
Loans charge-off
    
(11
)
    
-
      
(11
)
Recoveries of loans previously charged-off
    
31
      
-
      
31
  
Net loans charged-off
    
20
      
-
      
20
  
Provision for credit losses - acquisition day 1 non-PCD
    
4,591
      
-
      
4,591
  
Provision for credit losses
    
100
      
162
      
262
  
Balance at June 30, 2023
  
$
21,652
    
$
1,391
    
$
23,043
  


The following table presents the activity in the allowance for credit losses for the three and six months ended June 30, 2022 (in thousands):


  
Allowance for Credit Losses - Loans
    
Reserve for unfunded commitments
    
Total
  
Balance at March 31, 2022   $ 17,556     $ 165     $ 17,721  
Loans charge-off     (446 )     -       (446 )
Recoveries of loans previously charged-off     10       -       10  
Net loans charged-off     (436 )     -       (436 )
Provision for credit losses     450       -       450  
Balance at June 30, 2022   $ 17,570     $ 165     $ 17,735  
                         
Balance at December 31, 2021
  
$
17,304
    
$
165
    
$
17,469
  
Loans charge-off
    
(451
)
    
-
      
(451
)
Recoveries of loans previously charged-off
    
17
      
-
      
17
  
Net loans charged-off
    
(434
)
    
-
      
(434
)
Provision for credit losses
    
700
      
-
      
700
  
Balance at June 30, 2022
  
$
17,570
    
$
165
    
$
17,735
  
Activity of Allowance for Credit Losses - Loans by Portfolio Segment

The following table presents the activity in the allowance for loan losses, by portfolio segment, for the three and six months ended June 30, 2022 (in thousands).


 
  
For the three months ended June 30, 2022
  
 
  
Balance at
March 31, 2022
    
Charge-offs
    
Recoveries
    
Provision
    
Balance at
June 30, 2022
  
Real estate loans:
                              
     Residential
  
$
1,070
    
$
-
    
$
-
    
$
(55
)
  
$
1,015
  
     Commercial
    
8,394
      
-
      
-
      
822
      
9,216
  
     Agricultural
    
4,516
      
-
      
-
      
(32
)
    
4,484
  
     Construction
    
497
      
-
      
-
      
66
      
563
  
Consumer
    
210
      
(12
)
    
5
      
261
      
464
  
Other commercial loans
    
1,380
      
(434
)
    
5
      
222
      
1,173
  
Other agricultural loans
    
551
      
-
      
-
      
(105
)
    
446
  
State and political subdivision loans
    
285
      
-
      
-
      
38
      
323
  
Unallocated
    
653
      
-
      
-
      
(767
)
    
(114
)
Total
  
$
17,556
    
$
(446
)
  
$
10
    
$
450
    
$
17,570
  

 
  
For the six months ended June 30, 2022
  
 
  
Balance at
December 31, 2021
    
Charge-offs
    
Recoveries
    
Provision
    
Balance at
June 30, 2022
  
Real estate loans:
                              
     Residential
  
$
1,147
    
$
-
    
$
-
    
$
(132
)
  
$
1,015
  
     Commercial
    
8,099
      
-
      
-
      
1,117
      
9,216
  
     Agricultural
    
4,729
      
-
      
-
      
(245
)
    
4,484
  
     Construction
    
434
      
-
      
-
      
129
      
563
  
Consumer
    
262
      
(17
)
    
10
      
209
      
464
  
Other commercial loans
    
1,023
      
(434
)
    
7
      
577
      
1,173
  
Other agricultural loans
    
558
      
-
      
-
      
(112
)
    
446
  
State and political subdivision loans
    
281
      
-
      
-
      
42
      
323
  
Unallocated
    
771
      
-
      
-
      
(885
)
    
(114
)
Total
  
$
17,304
    
$
(451
)
  
$
17
    
$
700
    
$
17,570
  
Allowance for Credit Losses After Evaluation for Impairment


The following table presents the allowance for credit losses – loans and amortized cost basis of loans under CECL methodology as of June 30, 2023 (in thousands):
Allowance for Credit Losses - Loans


Loans
June 30, 2023
  
Collectively evaluated for impairment
   
Individually evaluated for impairment
    
Total Allowance
for Credit
Losses - Loans
    
Collectively evaluated for impairment
    
Individually evaluated for impairment
    
Total Loans
  
Real estate loans:
                                    
     Residential
  
$
2,552
    
$
123
    
$
2,675
    
$
356,592
    
$
1,433
    
$
358,025
  
     Commercial
    
9,110
      
164
      
9,274
      
1,075,534
      
4,979
      
1,080,513
  
     Agricultural
    
3,493
      
86
      
3,579
      
308,010
      
4,292
      
312,302
  
     Construction
    
1,410
      
257
      
1,667
      
154,570
      
2,357
      
156,927
  
Consumer
    
446
      
813
      
1,259
      
41,625
      
1,076
      
42,701
  
Other commercial loans
    
1,713
      
764
      
2,477
      
118,024
      
2,264
      
120,288
  
Other agricultural loans
    
268
      
-
      
268
      
30,320
      
295
      
30,615
  
State and political subdivision loans
    
52
      
-
      
52
      
61,471
      
-
      
61,471
  
Unallocated
    
401
      
-
      
401
      
-
      
-
      
-
  
Total
  
$
19,445
    
$
2,207
    
$
21,652
    
$
2,146,146
    
$
16,696
    
$
2,162,842
  


The following table presents loans and their related allowance for loan losses, by portfolio segment, as of December 31, 2022 (in thousands):


 
Allowance for loan losses
    
Loans
  

 
Collectively evaluated for impairment
    
Individually evaluated for impairment
    
Total allowance for loan losses
    
Collectively evaluated for impairment
    
Individually evaluated for impairment
    
Loans acquired with deteriorated credit quality
    
Total Loans
  
Real estate loans:
                                          
     Residential
  
$
4
    
$
1,052
    
$
1,056
    
$
209,869
    
$
335
    
$
9
    
$
210,213
  
     Commercial
    
57
      
10,063
      
10,120
      
869,038
      
5,675
      
1,856
      
876,569
  
     Agricultural
    
24
      
4,565
      
4,589
      
306,793
      
5,380
      
1,441
      
313,614
  
     Construction
    
-
      
801
      
801
      
80,691
      
-
      
-
      
80,691
  
Consumer
    
4
      
131
      
135
      
86,646
      
4
      
-
      
86,650
  
Other commercial loans
    
13
      
1,027
      
1,040
      
63,120
      
102
      
-
      
63,222
  
Other agricultural loans
    
-
      
489
      
489
      
34,359
      
473
      
-
      
34,832
  
State and political subdivision loans
    
-
      
322
      
322
      
59,208
      
-
      
-
      
59,208
  
Total
  
$
102
    
$
18,450
    
$
18,552
    
$
1,709,724
    
$
11,969
    
$
3,306
    
$
1,724,999
  
Loan Receivables on Nonaccrual Status

The following table reflects the non-performing loan receivables, as well as those on non-accrual status as of June 30, 2023 and December 31, 2022, respectively. The balances are presented by class of loan receivable (in thousands):

   
June 30, 2023
     December 31, 2022   
 
   
Nonaccrual With a
related allowance
    
Nonaccrual Without
a related allowance
    
90 days or greater
past due and
accruing
    
Total non-performing
loans
     Nonaccrual    
90 days or greater past
due and accruing
    
Total non-performing
loans
  
Real estate loans:
                                          
     Mortgages
  
$
472
    
$
1,701
    
$
-
    
$
2,173
     $ 562     $ -     $ 562  
     Home Equity
    
-
      
53
      
-
      
53
       29       -       29  
     Commercial
    
353
      
1,510
      
129
      
1,992
       2,778       -       2,778  
     Agricultural
    
182
      
2,810
      
-
      
2,992
       3,222       -       3,222  
     Construction
    
2,357
      
-
      
-
      
2,357
       -       -       -  
Consumer
    
1,072
      
-
      
10
      
1,082
       -       7       7  
Other commercial loans
    
789
      
1,475
      
-
      
2,264
       62       -       62  
Other agricultural loans
    
-
      
299
      
-
      
299
       285       -       285  
State and political subdivision
    
-
      
-
      
-
      
-
       -       -       -  
   
$
5,225
    
$
7,848
    
$
139
    
$
13,212
     $ 6,938     $ 7     $
6,945  
Amortized Cost Basis of Collateral-Dependent Nonaccrual Loans and Leases

The following table presents, by class of loans and leases, the amortized cost basis of collateral-dependent nonaccrual loans and leases and type of collateral as of June 30, 2023 and December 31, 2022 (in thousands):

June 30, 2023  
Real Estate
    
Other
    
None
    
Total
  
Real estate loans:
                        
     Mortgages
  
$
2,173
    
$
-
    
$
-
    
$
2,173
  
     Home Equity
    
53
      
-
      
-
      
53
  
     Commercial
    
1,863
      
-
      
-
      
1,863
  
     Agricultural
    
2,992
      
-
      
-
      
2,992
  
     Construction
    
2,357
      
-
      
-
      
2,357
  
Consumer
    
-
      
-
      
1,072
      
1,072
  
Other commercial loans
    
-
      
2,264
      
-
      
2,264
  
Other agricultural loans
    
-
      
299
      
-
      
299
  
State and political subdivision
    
-
      
-
      
-
      
-
  
   
$
9,438
    
$
2,563
     $
1,072
    
$
13,073
  

   
 
December 31, 2022
  
Real Estate
    
Other
    
None
    
Total
  
Real estate loans:
                        
     Mortgages
  
$
562
    
$
-
    
$
-
    
$
562
  
     Home Equity
    
29
      
-
      
-
      
29
  
     Commercial
    
2,778
      
-
      
-
      
2,778
  
     Agricultural
    
3,222
      
-
      
-
      
3,222
  
     Construction
    
-
      
-
      
-
      
-
  
Consumer
    
-
      
-
      
-
      
-
  
Other commercial loans
    
-
      
62
      
-
      
62
  
Other agricultural loans
    
-
      
285
      
-
      
285
  
State and political subdivision
    
-
      
-
      
-
      
-
  
   
$
6,591
    
$
347
    
$
-
    
$
6,938
  
Financing Receivable Credit Exposures by Internally Assigned Grades, by Origination Year

The following tables represent credit exposures by internally assigned grades, by origination year as of June 30, 2023 (in thousands):


                                       
Revolving
    
Revolving
        
         
Loans
    
Loans
        
                                       
Amortized
    
Converted
        
June 30, 2023
  
2023
    
2022
    
2021
    
2020
    
2019
    
Prior
    
Cost Basis
    
to Term
    
Total
  
Commercial real estate
                                                      
Risk Rating
                                                      
Pass
  
$
54,881
    
$
329,894
    
$
217,856
    
$
126,372
    
$
83,562
    
$
203,314
    
$
32,598
    
$
1,187
    
$
1,049,664
  
Special Mention
    
-
      
8,847
      
-
      
1,378
      
7,627
      
9,447
      
125
      
-
      
27,424
  
Substandard
    
-
      
251
      
6
      
195
      
254
      
1,980
      
731
      
8
      
3,425
  
Doubtful
     -       -       -       -       -       -       -       -       -  
Total
  
$
54,881
    
$
338,992
    
$
217,862
    
$
127,945
    
$
91,443
    
$
214,741
    
$
33,454
    
$
1,195
    
$
1,080,513
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Agricultural real estate
                                                                        
Risk Rating
                                                                        
Pass
  
$
10,468
    
$
54,241
    
$
30,666
    
$
33,222
    
$
27,167
    
$
126,373
    
$
11,466
    
$
1,344
    
$
294,947
  
Special Mention
    
-
      
3,028
      
1,261
      
-
      
-
      
6,819
      
85
      
-
      
11,193
  
Substandard
    
-
      
-
      
-
      
-
      
103
      
5,737
      
75
      
247
      
6,162
  
Doubtful
     -       -       -       -       -       -       -       -       -  
Total
  
$
10,468
    
$
57,269
    
$
31,927
    
$
33,222
    
$
27,270
    
$
138,929
    
$
11,626
    
$
1,591
    
$
312,302
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Construction
                                    
-
                                  
Risk Rating
                                                                        
Pass
  
$
20,388
    
$
81,202
    
$
45,691
    
$
501
    
$
-
    
$
-
    
$
-
    
$
-
    
$
147,782
  
Special Mention
    
1,406
      
980
      
4,402
      
-
      
-
      
-
      
-
      
-
      
6,788
  
Substandard
    
-
      
-
      
2,357
      
-
      
-
      
-
      
-
      
-
      
2,357
  
Doubtful
     -       -       -       -       -       -       -       -       -  
Total
  
$
21,794
    
$
82,182
    
$
52,450
    
$
501
    
$
-
    
$
-
    
$
-
    
$
-
    
$
156,927
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
                                                                         
Other commercial loans
                                    
-
                                  
Risk Rating
                                                                        
Pass
  
$
3,115
    
$
12,671
    
$
9,536
    
$
5,793
    
$
5,970
    
$
5,041
    
$
70,515
    
$
109
    
$
112,750
  
Special Mention
    
-
      
87
      
1,585
      
216
      
338
      
24
      
2,678
      
39
      
4,967
  
Substandard
    
-
      
-
      
-
      
763
      
198
      
1,298
      
286
      
-
      
2,545
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
26
      
26
  
Total
  
$
3,115
    
$
12,758
    
$
11,121
    
$
6,772
    
$
6,506
    
$
6,363
    
$
73,479
    
$
174
    
$
120,288
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Other agricultural loans
                                    
-
                                  
Risk Rating
                                                                        
 Pass
  
$
2,998
    
$
1,766
    
$
7,530
    
$
1,249
    
$
1,281
    
$
487
    
$
13,417
    
$
-
    
$
28,728
  
Special Mention
    
-
      
522
      
268
      
48
      
7
      
55
      
543
      
-
      
1,443
  
Substandard
    
-
      
-
      
-
      
-
      
8
      
377
      
25
      
34
      
444
  
Doubtful
     -       -       -       -       -       -       -       -       -  
Total
  
$
2,998
    
$
2,288
    
$
7,798
    
$
1,297
    
$
1,296
    
$
919
    
$
13,985
    
$
-
    
$
30,615
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
State and political subdivision loans
                                    
-
                                  
Risk Rating
                                                                        
 Pass
  
$
94
    
$
18,733
    
$
12,124
    
$
4,438
    
$
5
    
$
26,077
    
$
-
    
$
-
    
$
61,471
  
Special Mention
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Doubtful
     -       -       -       -       -       -       -       -       -  
Total
  
$
94
    
$
18,733
    
$
12,124
    
$
4,438
    
$
5
    
$
26,077
    
$
-
    
$
-
    
$
61,471
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
                                                                         
Total
                                    
-
                                  
Risk Rating
                                                                        
Pass
  
$
91,944
    
$
498,507
    
$
323,403
    
$
171,575
    
$
117,985
    
$
361,292
    
$
127,996
    
$
2,640
    
$
1,695,342
  
Special Mention
    
1,406
      
13,464
      
7,516
      
1,642
      
7,972
      
16,345
      
3,431
      
39
      
51,815
  
Substandard
    
-
      
251
      
2,363
      
958
      
563
      
9,392
      
1,117
      
289
      
14,933
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
26
      
26
  
Total
  
$
93,350
    
$
512,222
    
$
333,282
    
$
174,175
    
$
126,520
    
$
387,029
    
$
132,544
    
$
2,994
    
$
1,762,116
  


Information presented in the table above is not required for periods prior to adoption of CECL. The following table presents the most comparable information for the prior period, internal credit risk ratings for the indicated loan class segments as of December 31, 2022 (in thousands).

December 31, 2022
  
Pass
    
Special Mention
    
Substandard
    
Doubtful
    
Loss
    
Ending Balance
  
Real estate loans:
                                    
     Commercial
  
$
842,912
    
$
28,047
    
$
5,610
    
$
-
    
$
-
    
$
876,569
  
     Agricultural
    
295,443
      
11,960
      
6,211
      
-
      
-
      
313,614
  
     Construction
    
75,703
      
2,642
      
2,346
      
-
      
-
      
80,691
  
Other commercial loans
    
59,902
      
2,953
      
337
      
30
      
-
      
63,222
  
Other agricultural loans
    
32,708
      
1,307
      
817
      
-
      
-
      
34,832
  
State and political
                                               
subdivision loans
    
59,208
      
-
      
-
      
-
      
-
       59,208
  
Total
  
$
1,365,876
    
$
46,909
    
$
15,321
    
$
30
    
$
-
    
$
1,428,136
  


For residential real estate mortgages, home equity and consumer loans, credit quality is monitored based on whether the loan is performing or non-performing, which is typically based on the aging status of the loan and payment activity, unless a specific action, such as bankruptcy, repossession, death or significant delay in payment occurs to raise awareness of a possible credit event. Non-performing loans include those loans that are considered nonaccrual, described in more detail below, and all loans past due 90 or more days and still accruing. The following table presents the recorded investment in those loan classes based on payment activity, by origination year, as of June 30, 2023 (in thousands):


                                       
Revolving
    
Revolving
        
         
Loans
    
Loans
        
                                       
Amortized
    
Converted
        
June 30, 2023
  
2023
    
2022
    
2021
    
2020
    
2019
    
Prior
    
Cost Basis
    
to Term
    
Total
  
Residential real estate
                                                      
Payment Performance
                                                      
Performing
  
$
12,084
    
$
88,543
    
$
49,595
    
$
30,895
    
$
19,334
    
$
106,346
    
$
-
    
$
-
    
$
306,797
  
Nonperforming
    
-
      
-
      
788
      
115
      
-
      
1,270
      
-
      
-
      
2,173
  
Total
  
$
12,084
    
$
88,543
    
$
50,383
    
$
31,010
    
$
19,334
    
$
107,616
    
$
-
    
$
-
    
$
308,970
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
1
    
$
-
    
$
-
    
$
1
  
                                                                         
Home equity
                                    
-
                                  
Payment Performance
                                                                        
Performing
  
$
2,130
    
$
3,217
    
$
2,046
    
$
2,439
    
$
2,685
    
$
8,914
    
$
27,127
    
$
444
    
$
49,002
  
Nonperforming
    
-
      
-
      
-
      
-
      
-
      
53
      
-
      
-
      
53
  
Total
  
$
2,130
    
$
3,217
    
$
2,046
    
$
2,439
    
$
2,685
    
$
8,967
    
$
27,127
    
$
444
    
$
49,055
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Consumer
                                    
-
                                  
Payment Performance
                                                                        
Performing
  
$
3,708
    
$
1,267
    
$
650
    
$
551
    
$
597
    
$
3,332
    
$
31,505
    
$
9
    
$
41,619
  
Nonperforming
    
-
      
20
      
-
      
-
      
-
      
1,062
      
-
      
-
      
1,082
  
Total
  
$
3,708
    
$
1,287
    
$
650
    
$
551
    
$
597
    
$
4,394
    
$
31,505
    
$
9
    
$
42,701
  
Current period gross charge-offs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
1
    
$
-
    
$
9
    
$
-
    
$
10
  
                                                                         
Total
                                    
-
                                  
Payment Performance
                                                                        
Performing
  
$
17,922
    
$
93,027
    
$
52,291
    
$
33,885
    
$
22,616
    
$
118,592
    
$
58,632
    
$
453
    
$
397,418
  
Nonperforming
    
-
      
20
      
788
      
115
      
-
      
2,385
      
-
      
-
      
3,308
  
Total
  
$
17,922
    
$
93,047
    
$
53,079
    
$
34,000
    
$
22,616
    
$
120,977
    
$
58,632
    
$
453
    
$
400,726
  



Information presented in the table above is not required for periods prior to adoption of CECL. The following table presents the most comparable information for the prior period, internal credit risk ratings for the indicated loan class segments as of December 31, 2022 (in thousands).

December 31, 2022
  
Performing
    
Non-performing
    
PCI
    
Total
  
Real estate loans:
                                
Mortgages
  
$
161,998
    
$
562
    
$
9
    
$
162,569
  
Home Equity
    
47,615
      
29
      
-
      
47,644
  
Consumer
    
86,643
      
7
      
-
      
86,650
  
Total
  
$
296,256
    
$
598
    
$
9
    
$
296,863
  
Aging Analysis of Past Due Loan Receivables

Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following table includes an aging analysis of the recorded investment of past due loan receivables as of June 30, 2023 and December 31, 2022 (in thousands):

June 30, 2023
  
30-59
Days
Past Due
    
60-89
Days
Past Due
    
90 Days
Or Greater
    
Total
Past
Due
    
Current
    
Total
Loans
Receivables
    
90 Days or
Greater and
Accruing
  
Real estate loans:
                                          
Mortgages
  
$
-
    
$
1,225
    
$
1,708
    
$
2,933
    
$
306,037
    
$
308,970
    
$
-
  
Home Equity
    
110
      
7
      
30
      
147
      
48,908
      
49,055
      
-
  
Commercial
    
2,072
      
231
      
1,216
      
3,519
      
1,076,994
      
1,080,513
      
129
  
Agricultural
    
23
      
-
      
1,367
      
1,390
      
310,912
      
312,302
      
-
  
Construction
    
477
      
-
      
-
      
477
      
156,450
      
156,927
      
-
  
Consumer
    
389
      
8
      
1,082
      
1,479
      
41,222
      
42,701
      
10
  
Other commercial loans
    
154
      
829
      
1,475
      
2,458
      
117,830
      
120,288
      
-
  
Other agricultural loans
    
234
      
-
      
-
      
234
      
30,381
      
30,615
      
-
  
State and political subdivision loans
    
-
      
-
      
-
      
-
      
61,471
      
61,471
      
-
  
Total
  
$
3,459
    
$
2,300
    
$
6,878
    
$
12,637
    
$
2,150,205
    
$
2,162,842
    
$
139
  
                                                         
Loans considered non-accrual
  
$
37
    
$
894
    
$
6,739
    
$
7,670
    
$
5,403
    
$
13,073
          
Loans still accruing
    
3,422
      
1,406
      
139
      
4,967
      
2,144,802
      
2,149,769
          
Total
  
$
3,459
    
$
2,300
    
$
6,878
    
$
12,637
    
$
2,150,205
    
$
2,162,842
          

December 31, 2022
  
30-59
Days
Past Due
    
60-89
Days
Past Due
    
90 Days
Or Greater
    
Total
Past
Due
    
Current
    
PCI
    
Total
Loan
Receivables
    
90 Days or
Greater and
Accruing
  
Real estate loans:
                                                
Mortgages
  
$
356
    
$
132
    
$
229
    
$
717
    
$
161,843
    
$
9
    
$
162,569
    
$
-
  
Home Equity
    
48
      
9
      
29
      
86
      
47,558
      
-
      
47,644
      
-
  
Commercial
    
1,065
      
115
      
1,788
      
2,968
      
871,745
      
1,856
      
876,569
      
-
  
Agricultural
    
-
      
-
      
1,368
      
1,368
      
310,805
      
1,441
      
313,614
      
-
  
Construction
    
-
      
-
      
-
      
-
      
80,691
      
-
      
80,691
      
-
  
Consumer
    
147
      
-
      
7
      
154
      
86,496
      
-
      
86,650
      
7
  
Other commercial loans
    
1,660
      
35
      
32
      
1,727
      
61,495
      
-
      
63,222
      
-
  
Other agricultural loans
    
-
      
-
      
-
      
-
      
34,832
      
-
      
34,832
      
-
  
State and political
subdivision loans
    
-
      
-
      
-
      
-
      
59,208
      
-
      
59,208
      
-
  
Total
  
$
3,276
    
$
291
    
$
3,453
    
$
7,020
    
$
1,714,673
    
$
3,306
    
$
1,724,999
    
$
7
  
Loans considered non-accrual
  
$
46
    
$
76
    
$
3,446
    
$
3,568
    
$
3,370
    
$
-
    
$
6,938
          
Loans still accruing
    
3,230
      
215
      
7
      
3,452
      
1,711,303
      
3,306
      
1,718,061
          
Total
  
$
3,276
    
$
291
    
$
3,453
    
$
7,020
    
$
1,714,673
    
$
3,306
    
$
1,724,999
          
Modifications to Borrowers Experiencing Financial Difficulty

The following table shows, the amortized cost basis by class of loans receivable, information regarding accruing and nonaccrual modified loans to borrowers experiencing financial difficulty during the three and six months ended June 30, 2023 (dollars in thousands):



 
  
Three months ended June 30, 2023
  
 
  
Number of loans
  
Amortized Cost Basis
  
% of Total Class of
Financing Receivable
  
Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
  
Real estate loans:
          
     Commercial
    
3
    
$
243
      
0.02
%
     Agricultural
    
4
      
765
      
0.24
%
Total
    
7
    
$
1,008
          



   
Six months ended June 30, 2023
  
 
  
Number of loans
    
Amortized Cost Basis
    
% of Total Class of
Financing Receivable
  
Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
  
Real estate loans:
              
     Mortgages
    
1
    
$
131
      
0.04
%
     Commercial
    
7
      
1,992
      
0.18
%
Agricultural
     4       765       0.24 %
Consumer
    
1
      
3
      
0.01
%
Total
    
13
    
$
2,891
          
 
                        
Non-Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
  
Real estate loans:
                  
     Commercial
    
1
    
$
91
      
0.01
%
Total
    
1
    
$
91
          



The following table shows, by class of loans receivable, information regarding the financial effect on accruing and nonaccrual modified loans to borrowers experiencing financial difficulty during the three and six months ended June 30, 2023:



Three months ended June 30, 2023
Term Extension
 
    
     
Loan Type
Number of loans
  
Financial Effect
Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
  
 
Real estate loans:
    
   
     Commercial
    
3
  
Extended the weighted average loan maturity 5 months
     Agricultural
    
4
  
Extended the weighted average loan maturity 2 months
Total
    
7
  
 


Six months ended June 30, 2023
Term Extension
Loan Type
  
Number of loans
  
Financial Effect
Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
  
 
Real estate loans:
      
  
Mortgages
    
1
  
Extended the loan maturity 4 months
Commercial
    
7
  
Extended the weighted average loan maturity 22 months
Agricultural
     4  
Extended the weighted average loan maturity 2 months
Consumer
    
1
  
Extended the loan maturity 24 months
Total
    
13
  
 
 
        
   
Non-Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
  
 
Real estate loans:
        
  
     Commercial
    
1
  
Extended the loan maturity 6 months
Total
    
1
  
 



There were no accruing or nonaccrual modified loans to borrowers experiencing financial difficulty for which there were payment defaults after the modification date for the three and six months ended June 30, 2023.


The following presents, by class of loans, the amortized cost and payment status of accruing and nonaccrual modified loans to borrowers experiencing financial difficulty at June 30, 2023 (in thousands):

    June 30, 2023  
 
        
30-89 Days
    
90 Days
        
Accruing Modified Loans to Borrowers Experiencing Financial Difficulty
  
Current
    
Past Due
    
Or Greater
    
Total
  
Real estate loans:
                        
     Mortgages
  
$
131
    
$
-
    
$
-
    
$
131
  
     Commercial
    
1,992
      
-
      
-
      
1,992
  
Agricultural
     765       -       -       765  
Consumer
    
3
      
-
      
-
      
3
  
Total
  
$
2,891
    
$
-
    
$
-
    
$
2,891
  
 
                                
Non-Accruing Modified Loans to Borrowers experiencing Financial Difficulty
                                
Real estate loans:
                                
     Commercial
  
$
91
     $
-
     $
-
    
$
91
  
    Total
  
$
91
    
$
-
    
$
-
    
$
91