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LOANS AND CREDIT QUALITY
 6 Months Ended
Jun. 30, 2024
LOANS AND CREDIT QUALITY  
LOANS AND CREDIT QUALITY

NOTE 3 LOANS AND CREDIT QUALITY

 

The following is a summary of the major categories of total loans outstanding at June 30, 2024 and December 31, 2023 (dollars in thousands):

 

 

 

June 30,

2024

 

 

December 31,

2023

 

1-4 Family residential construction

 

$24,478

 

 

$30,488

 

Other construction, land development and land

 

 

58,062

 

 

 

47,749

 

Secured by farmland

 

 

81,326

 

 

 

81,657

 

Home equity – open end

 

 

45,743

 

 

 

45,749

 

Real estate

 

 

207,355

 

 

 

200,629

 

Home Equity – closed end

 

 

6,405

 

 

 

4,835

 

Multifamily

 

 

11,044

 

 

 

8,203

 

Owner-occupied commercial real estate

 

 

87,282

 

 

 

92,362

 

Other commercial real estate

 

 

99,265

 

 

 

106,181

 

Agricultural loans

 

 

15,210

 

 

 

14,405

 

Commercial and industrial

 

 

52,466

 

 

 

44,329

 

Credit Cards

 

 

3,319

 

 

 

3,252

 

Automobile loans

 

 

116,770

 

 

 

122,924

 

Other consumer loans

 

 

12,952

 

 

 

14,376

 

Municipal loans

 

 

5,325

 

 

 

5,625

 

Gross loans

 

 

827,002

 

 

 

822,764

 

Unamortized net deferred loan fees

 

 

(662)

 

 

(672)

Less allowance for credit losses

 

 

7,815

 

 

 

8,321

 

Net loans

 

$818,525

 

 

$813,771

 

 

The table above does not include loans held for sale of $4.0 million and $1.1 million at June 30, 2024 and December 31, 2023, respectively. Loans held for sale consist of single-family residential real estate loans originated for sale in the secondary market.

 

Accrued interest receivable on loans held for investment totaled $3.8 million and $3.6 million at June 30, 2024 and December 31, 2023, respectively. For the quarter ended June 30, 2024, and the year ended December 31, 2023, accrued interest receivable write-offs were not material to the Company’s consolidated financial statements.

 

The Company had loans held for investment pledged as collateral for borrowings with the FHLB totaling $296.9 million and $289.1 million as of June 30, 2024, and December 31, 2023, respectively. The Company maintains a blanket lien on certain loans in its residential real estate, commercial, agricultural farmland, and home equity portfolios.

 

Nonaccrual and Past Due Loans

 

The following tables show the aging of the Company’s loan portfolio, by class, for the periods indicated (dollars in thousands):

 

Age Analysis of Past Due Loans

As of June 30, 2024

 

 

Accruing Loans 30-59 Days Past due

 

 

Accruing Loans 60-89 Days Past due

 

 

Accruing Loans 90 Days or More Past due

 

 

Nonaccrual Loans

 

 

Accruing Current Loans

 

 

Total Loans

 

1-4 Family residential construction

 

$-

 

 

$-

 

 

$-

 

 

$439

 

 

$24,039

 

 

$24,478

 

Other construction, land development and land

 

 

164

 

 

 

-

 

 

 

1

 

 

 

15

 

 

 

57,882

 

 

 

58,062

 

Secured by farmland

 

 

-

 

 

 

-

 

 

 

-

 

 

 

53

 

 

 

81,273

 

 

 

81,326

 

Home equity – open end

 

 

153

 

 

 

153

 

 

 

-

 

 

 

309

 

 

 

45,128

 

 

 

45,743

 

Real estate

 

 

900

 

 

 

495

 

 

 

-

 

 

 

645

 

 

 

205,315

 

 

 

207,355

 

Home Equity – closed end

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

6,405

 

 

 

6,405

 

Multifamily

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

11,044

 

 

 

11,044

 

Owner-occupied commercial real estate

 

 

19

 

 

 

-

 

 

 

-

 

 

 

4,860

 

 

 

82,403

 

 

 

87,282

 

Other commercial real estate

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

99,265

 

 

 

99,265

 

Agricultural loans

 

 

-

 

 

 

-

 

 

 

-

 

 

 

150

 

 

 

15,060

 

 

 

15,210

 

Commercial and industrial

 

 

64

 

 

 

68

 

 

 

-

 

 

 

665

 

 

 

51,669

 

 

 

52,466

 

Credit Cards

 

 

16

 

 

 

9

 

 

 

1

 

 

 

-

 

 

 

3,293

 

 

 

3,319

 

Automobile loans

 

 

1,703

 

 

 

342

 

 

 

14

 

 

 

396

 

 

 

114,315

 

 

 

116,770

 

Other consumer loans

 

 

64

 

 

 

80

 

 

 

-

 

 

 

38

 

 

 

12,770

 

 

 

12,952

 

Municipal loans

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

5,325

 

 

 

5,325

 

Gross loans

 

 

3,083

 

 

 

1,147

 

 

 

16

 

 

 

7,570

 

 

 

815,186

 

 

 

827,002

 

Less: Unamortized net deferred loan fees

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(662)

 

 

(662)

Loans held for investment

 

$3,083

 

 

$1,147

 

 

$16

 

 

$7,570

 

 

$814,524

 

 

$826,340

 

 

Age Analysis of Past Due Loans

As of December 31, 2023

 

 

Accruing Loans 30-59 Days Past due

 

 

Accruing Loans 60-89 Days Past due

 

 

Accruing Loans 90 Days or More Past due

 

 

Nonaccrual Loans

 

 

Accruing Current Loans

 

 

Total Loans

 

1-4 Family residential construction

 

$-

 

 

$-

 

 

$-

 

 

$440

 

 

$30,048

 

 

$30,488

 

Other construction, land development and land

 

 

-

 

 

 

-

 

 

 

-

 

 

 

528

 

 

 

47,221

 

 

 

47,749

 

Secured by farmland

 

 

-

 

 

 

-

 

 

 

-

 

 

 

596

 

 

 

81,061

 

 

 

81,657

 

Home equity – open end

 

 

595

 

 

 

74

 

 

 

-

 

 

 

217

 

 

 

44,863

 

 

 

45,749

 

Real estate

 

 

2,125

 

 

 

425

 

 

 

-

 

 

 

701

 

 

 

197,378

 

 

 

200,629

 

Home Equity – closed end

 

 

41

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

4,794

 

 

 

4,835

 

Multifamily

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

8,203

 

 

 

8,203

 

Owner-occupied commercial real estate

 

 

1,482

 

 

 

-

 

 

 

-

 

 

 

3,000

 

 

 

87,880

 

 

 

92,362

 

Other commercial real estate

 

 

92

 

 

 

887

 

 

 

-

 

 

 

-

 

 

 

105,202

 

 

 

106,181

 

Agricultural loans

 

 

10

 

 

 

-

 

 

 

-

 

 

 

73

 

 

 

14,322

 

 

 

14,405

 

Commercial and industrial

 

 

75

 

 

 

39

 

 

 

25

 

 

 

622

 

 

 

43,568

 

 

 

44,329

 

Credit Cards

 

 

35

 

 

 

7

 

 

 

6

 

 

 

-

 

 

 

3,204

 

 

 

3,252

 

Automobile loans

 

 

1,137

 

 

 

481

 

 

 

-

 

 

 

237

 

 

 

121,069

 

 

 

122,924

 

Other consumer loans

 

 

151

 

 

 

14

 

 

 

-

 

 

 

24

 

 

 

14,187

 

 

 

14,376

 

Municipal loans

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

5,625

 

 

 

5,625

 

Gross loans

 

 

5,743

 

 

 

1,927

 

 

 

31

 

 

 

6,438

 

 

 

808,625

 

 

 

822,764

 

Less: Unamortized net deferred loan fees

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(672)

 

 

(672)

Loans held for investment

 

$5,743

 

 

$1,927

 

 

$31

 

 

$6,438

 

 

$807,953

 

 

$822,092

 

 

There were $7.6 million and $6.4 million in nonaccrual loans at June 30, 2024 and December 31, 2023, respectively.  There was no income recognized on nonaccrual loans during the six months ended June 30, 2024 and year ended December 31, 2023.

 

The following table is a summary of the Company’s nonaccrual loans by major categories for the periods indicated (dollars in thousands).

 

 

 

June 30, 2024

 

 

December 31, 2023

 

 

 

Nonaccrual loans

 

 

Nonaccrual loans

 

 

 

With no Allowance

 

 

With an Allowance

 

 

Total

 

 

With no Allowance

 

 

With an Allowance

 

 

Total

 

1-4 Family residential construction

 

$-

 

 

$439

 

 

$439

 

 

$-

 

 

$440

 

 

$440

 

Other construction, land development and land

 

 

15

 

 

 

-

 

 

 

15

 

 

 

528

 

 

 

-

 

 

 

528

 

Secured by farmland

 

 

53

 

 

 

-

 

 

 

53

 

 

 

596

 

 

 

-

 

 

 

596

 

Home equity – open end

 

 

309

 

 

 

-

 

 

 

309

 

 

 

217

 

 

 

-

 

 

 

217

 

Real estate

 

 

645

 

 

 

-

 

 

 

645

 

 

 

701

 

 

 

-

 

 

 

701

 

Owner-occupied commercial real estate

 

 

3,555

 

 

 

1,305

 

 

 

4,860

 

 

 

-

 

 

 

3,000

 

 

 

3,000

 

Agricultural loans

 

 

150

 

 

 

-

 

 

 

150

 

 

 

73

 

 

 

-

 

 

 

73

 

Commercial and industrial

 

 

665

 

 

 

-

 

 

 

665

 

 

 

25

 

 

 

597

 

 

 

622

 

Automobile loans

 

 

396

 

 

 

-

 

 

 

396

 

 

 

237

 

 

 

-

 

 

 

237

 

Other consumer loans

 

 

38

 

 

 

-

 

 

 

38

 

 

 

24

 

 

 

-

 

 

 

24

 

Total loans

 

$5,826

 

 

$1,744

 

 

$7,570

 

 

$2,401

 

 

$4,037

 

 

$6,438

 

 

Troubled Loan Modifications

 

Loan modifications where the borrower is experiencing financial difficulty and the modification is in the form of principal forgiveness, interest rate reductions, term extensions, other-than-insignificant payment delays, or a combination of the above modifications, are defined by the Company as troubled loan modifications. The allowance for credit losses on loans (“ACLL”) on troubled loan modifications is measured using the same method as other loans held for investment.

 

The Company evaluates all loan modifications according to the accounting guidance for loan refinancing and restructuring to determine whether the modification should be accounted for as a new loan or a continuation of the existing loan. If the modification meets the criteria to be accounted for as a new loan, any deferred fees and costs remaining prior to the modification are recognized in income and any new deferred fees and costs are recorded on the loan as part of the modification. If the modification does not meet the criteria to be accounted for as a new loan, any new deferred fees and costs resulting from the modification are added to the existing amortized cost basis of the loan.

 

The following tables present the amortized cost of loans and leases to borrowers experiencing financial difficulty by class of financing receivable, type of modification, financial effect of the modification, and percentage of the amortized cost basis of modifications as compared to the amortized cost basis of each loan segment for the periods presented (dollars in thousands).

 

Amortized Cost of Basis of Loan Modifications Made to Borrowers Experiencing Financial Difficulty

For the Quarter Ended June 30, 2024

 

 

 

Term Extension

 

 

Weighted Average Term Extension (in months)

 

 

% of Total Loan Type

 

Owner-occupied commercial real estate

 

$24

 

 

 

13.0

 

 

 

0.02%

Automobile loans

 

 

59

 

 

 

4.3

 

 

 

0.05%

Total Term Extension

 

$83

 

 

 

6.9

 

 

 

0.05%

 

Amortized Cost of Basis of Loan Modifications Made to Borrowers Experiencing Financial Difficulty

For the Year Ended December 31, 2023

 

 

 

Term Extension

 

 

Weighted Average Term Extension (in months)

 

 

% of Total Loan Type

 

Owner-occupied commercial real estate

 

$45

 

 

 

13.0

 

 

 

0.05%

Automobile loans

 

 

68

 

 

 

4.5

 

 

 

0.06%

Total Term Extension

 

$113

 

 

 

7.9

 

 

 

0.05%

 

The Company monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The Company considers a default on a troubled loan modification to occur when the borrower is 90 days past due following the modification or a foreclosure and repossession of the applicable collateral occurs. No loan or lease modifications to borrowers experiencing financial difficulty had a payment default at June 30, 2024 or December 31, 2023. As of June 30, 2024 and December 31, 2023, $18 thousand and $159 thousand in loans modified and designated as a troubled loan modification were past due.

 

As of June 30, 2024, the Company did not have any unfunded commitments on loans modified and designated as troubled loan modifications.

 

Collateral-Dependent Disclosures

 

The collateral method is applied to individually evaluated loans for which foreclosure is probable. The collateral method is also applied to individually evaluated loans when borrowers are experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. These loans do not share common risk characteristics and are not included within the collectively evaluated loans for determining the allowance for credit losses. Under CECL, for collateral-dependent loans, the Company has adopted the practical expedient to measure the allowance for credit losses based on the fair value of collateral. The allowance for credit losses is calculated on an individual loan basis based on the shortfall between the fair value of the loan's collateral, which is adjusted for liquidation costs/discounts, and amortized cost. If the fair value of the collateral exceeds the amortized cost, no allowance is required.

 

The following table presents an analysis of collateral-dependent loans of the Company as of the periods noted (dollars in thousands):

 

 

 

Collateral-Dependent Loans

 

 

 

June 30, 2024

 

 

 

Real Estate

 

 

Business/Other Assets

 

1-4 Family residential construction

 

$439

 

 

$-

 

Owner-occupied commercial real estate

 

 

4,860

 

 

 

-

 

Commercial and industrial

 

 

-

 

 

 

605

 

Total loans

 

$5,299

 

 

$605

 

 

 

 

Collateral-Dependent Loans

 

 

 

December 31, 2023

 

 

 

Real Estate

 

 

Business/Other Assets

 

1-4 Family residential construction

 

$440

 

 

$-

 

Other construction, land development and land

 

 

511

 

 

 

-

 

Secured by farmland

 

 

596

 

 

 

-

 

Owner-occupied commercial real estate

 

 

3,000

 

 

 

-

 

Commercial and industrial

 

 

-

 

 

 

597

 

Total loans

 

$4,547

 

 

$597

 

 

The following tables present the loan portfolio by segment, details of the loan portfolio and the ACLL calculated in accordance with our credit loss accounting methodology for loans described above (dollars in thousands).

 

 

 

June 30, 2024

 

 

 

Loan Balances

 

 

Allowance for Credit Losses - Loans

 

 

 

Loans Individually Evaluated

 

 

Loans Collectively Evaluated

 

 

Total

 

 

Loans Individually Evaluated

 

 

Loans Collectively Evaluated

 

 

Total

 

1-4 Family residential construction

 

$439

 

 

$24,039

 

 

$24,478

 

 

$362

 

 

$240

 

 

$602

 

Other construction, land development and land

 

 

-

 

 

 

58,062

 

 

 

58,062

 

 

 

-

 

 

 

1,448

 

 

 

1,448

 

Secured by farmland

 

 

-

 

 

 

81,326

 

 

 

81,326

 

 

 

-

 

 

 

817

 

 

 

817

 

Home equity – open end

 

 

-

 

 

 

45,743

 

 

 

45,743

 

 

 

-

 

 

 

177

 

 

 

177

 

Real estate

 

 

-

 

 

 

207,355

 

 

 

207,355

 

 

 

-

 

 

 

780

 

 

 

780

 

Home Equity – closed end

 

 

-

 

 

 

6,405

 

 

 

6,405

 

 

 

-

 

 

 

102

 

 

 

102

 

Multifamily

 

 

-

 

 

 

11,044

 

 

 

11,044

 

 

 

-

 

 

 

251

 

 

 

251

 

Owner-occupied commercial real estate

 

 

4,860

 

 

 

82,422

 

 

 

87,282

 

 

 

75

 

 

 

773

 

 

 

848

 

Other commercial real estate

 

 

-

 

 

 

99,265

 

 

 

99,265

 

 

 

-

 

 

 

174

 

 

 

174

 

Agricultural loans

 

 

-

 

 

 

15,210

 

 

 

15,210

 

 

 

-

 

 

 

22

 

 

 

22

 

Commercial and industrial

 

 

605

 

 

 

51,861

 

 

 

52,466

 

 

 

-

 

 

 

801

 

 

 

801

 

Credit Cards

 

 

-

 

 

 

3,319

 

 

 

3,319

 

 

 

-

 

 

 

83

 

 

 

83

 

Automobile loans

 

 

-

 

 

 

116,770

 

 

 

116,770

 

 

 

-

 

 

 

1,469

 

 

 

1,469

 

Other consumer loans

 

 

-

 

 

 

12,952

 

 

 

12,952

 

 

 

-

 

 

 

225

 

 

 

225

 

Municipal loans

 

 

-

 

 

 

5,325

 

 

 

5,325

 

 

 

-

 

 

 

16

 

 

 

16

 

Gross loans

 

 

5,904

 

 

 

821,098

 

 

 

827,002

 

 

 

437

 

 

 

7,378

 

 

 

7,815

 

Less: Unamortized net deferred loan fees

 

 

-

 

 

 

-

 

 

 

(662)

 

 

-

 

 

 

-

 

 

 

-

 

Net loans held for investment

 

$5,904

 

 

$821,098

 

 

$826,340

 

 

$437

 

 

$7,378

 

 

$7,815

 

 

 

 

December 31, 2023

 

 

 

Loan Balances

 

 

Allowance for Credit Losses - Loans

 

 

 

Loans Individually Evaluated

 

 

Loans Collectively Evaluated

 

 

Total

 

 

Loans Individually Evaluated

 

 

Loans Collectively Evaluated

 

 

Total

 

1-4 Family residential construction

 

$440

 

 

$30,048

 

 

$30,488

 

 

$363

 

 

$351

 

 

$714

 

Other construction, land development and land

 

 

511

 

 

 

47,238

 

 

 

47,749

 

 

 

-

 

 

 

1,287

 

 

 

1,287

 

Secured by farmland

 

 

596

 

 

 

81,061

 

 

 

81,657

 

 

 

-

 

 

 

815

 

 

 

815

 

Home equity – open end

 

 

-

 

 

 

45,749

 

 

 

45,749

 

 

 

-

 

 

 

180

 

 

 

180

 

Real estate

 

 

-

 

 

 

200,629

 

 

 

200,629

 

 

 

-

 

 

 

810

 

 

 

810

 

Home Equity – closed end

 

 

-

 

 

 

4,835

 

 

 

4,835

 

 

 

-

 

 

 

77

 

 

 

77

 

Multifamily

 

 

-

 

 

 

8,203

 

 

 

8,203

 

 

 

-

 

 

 

181

 

 

 

181

 

Owner-occupied commercial real estate

 

 

3,000

 

 

 

89,362

 

 

 

92,362

 

 

 

263

 

 

 

958

 

 

 

1,221

 

Other commercial real estate

 

 

-

 

 

 

106,181

 

 

 

106,181

 

 

 

-

 

 

 

166

 

 

 

166

 

Agricultural loans

 

 

-

 

 

 

14,405

 

 

 

14,405

 

 

 

-

 

 

 

20

 

 

 

20

 

Commercial and industrial

 

 

597

 

 

 

43,732

 

 

 

44,329

 

 

 

351

 

 

 

683

 

 

 

1,034

 

Credit Cards

 

 

-

 

 

 

3,252

 

 

 

3,252

 

 

 

-

 

 

 

81

 

 

 

81

 

Automobile loans

 

 

-

 

 

 

122,924

 

 

 

122,924

 

 

 

-

 

 

 

1,443

 

 

 

1,443

 

Other consumer loans

 

 

-

 

 

 

14,376

 

 

 

14,376

 

 

 

-

 

 

 

292

 

 

 

292

 

Municipal loans

 

 

-

 

 

 

5,625

 

 

 

5,625

 

 

 

-

 

 

 

-

 

 

 

-

 

Gross loans

 

 

5,144

 

 

 

817,620

 

 

 

822,764

 

 

 

977

 

 

 

7,344

 

 

 

8,321

 

Less: Unamortized net deferred loan fees

 

 

-

 

 

 

-

 

 

 

(672)

 

 

-

 

 

 

-

 

 

 

-

 

Net loans held for investment

 

$5,144

 

 

$817,620

 

 

$822,092

 

 

$977

 

 

$7,344

 

 

$8,321

 

 

Credit Quality Indicators

 

The Company presents loan and lease portfolio segments and classes by credit quality indicator and vintage year. The Company defines the vintage date for the purpose of this disclosure as the date of the most recent credit decision. Renewals are categorized as new credit decisions and reflect the renewal date as the vintage date, except for renewals of loans modified for borrowers experiencing financial difficulty which are presented in the original vintage.

 

Description of the Company’s credit quality indicators:

 

Pass: Loans in all classes that make up the commercial and consumer portfolio segments that are not adversely rated, are contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the loan agreement. Management believes that there is a low likelihood of loss related to those loans that are considered pass.

 

Grade 6 – Watch:  Loans are currently protected but are weak due to negative balance sheet or income statement trends. There may be a lack of effective control over collateral or the existence of documentation deficiencies. These loans have potential weaknesses that deserve management’s close attention. Other reasons supporting this classification include adverse economic or market conditions, pending litigation or any other material weakness.

 

Grade 7 – Substandard: Loans having well-defined weaknesses where a payment default and or loss is possible, but not yet probable. Cash flow is inadequate to service the debt under the current payment, or terms, with prospects that the condition is permanent. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the borrower and there is the likelihood that collateral will have to be liquidated and/or guarantor(s) called upon to repay the debt. Generally, the loan is considered collectible as to both principal and interest, primarily because of collateral coverage, however, if the deficiencies are not corrected quickly; there is a probability of loss.

 

Credit cards are classified as pass or substandard. A credit card is substandard when payments of principal and interest are past due 90 days or more.

 

The following table presents the Company’s recorded investment in loans by credit quality indicators by year of origination as of June 30, 2024 (dollars in thousands):

 

 

 

Term Loans by Year of Origination

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

1-4 Family residential construction

 

Pass

 

$-

 

 

$-

 

 

$-

 

 

$-

 

 

$-

 

 

$-

 

 

$24,039

 

 

$24,039

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

439

 

 

 

439

 

Total 1-4 Family residential construction

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

24,478

 

 

 

24,478

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction, land development and land

Pass

 

 

1,568

 

 

 

7,873

 

 

 

8,954

 

 

 

4,694

 

 

 

1,779

 

 

 

9,522

 

 

 

22,473

 

 

 

56,863

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

670

 

 

 

670

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

529

 

 

 

-

 

 

 

529

 

Total Other construction, land development and land

 

 

1,568

 

 

 

7,873

 

 

 

8,954

 

 

 

4,694

 

 

 

1,779

 

 

 

10,051

 

 

 

23,143

 

 

 

58,062

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by farmland

Pass

 

 

2,802

 

 

 

10,321

 

 

 

13,932

 

 

 

13,270

 

 

 

26,263

 

 

 

9,276

 

 

 

2,890

 

 

 

78,754

 

Watch

 

 

-

 

 

 

-

 

 

 

1,748

 

 

 

-

 

 

 

-

 

 

 

771

 

 

 

-

 

 

 

2,519

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

53

 

 

 

-

 

 

 

53

 

Total Secured by farmland

 

 

2,802

 

 

 

10,321

 

 

 

15,680

 

 

 

13,270

 

 

 

26,263

 

 

 

10,100

 

 

 

2,890

 

 

 

81,326

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity – open end

Pass

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

140

 

 

 

44,957

 

 

 

45,097

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

286

 

 

 

286

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

360

 

 

 

360

 

Total Home equity - open end

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

140

 

 

 

45,603

 

 

 

45,743

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate

Pass

 

 

11,902

 

 

 

56,841

 

 

 

46,378

 

 

 

14,415

 

 

 

12,025

 

 

 

62,643

 

 

 

530

 

 

 

204,734

 

Watch

 

 

-

 

 

 

-

 

 

 

83

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

83

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

534

 

 

 

-

 

 

 

2,004

 

 

 

-

 

 

 

2,538

 

Total Real estate

 

 

11,902

 

 

 

56,841

 

 

 

46,461

 

 

 

14,949

 

 

 

12,025

 

 

 

64,647

 

 

 

530

 

 

 

207,355

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home Equity – closed end

Pass

 

 

418

 

 

 

2,570

 

 

 

364

 

 

 

111

 

 

 

995

 

 

 

1,947

 

 

 

-

 

 

 

6,405

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Total Home Equity - closed end

 

 

418

 

 

 

2,570

 

 

 

364

 

 

 

111

 

 

 

995

 

 

 

1,947

 

 

 

-

 

 

 

6,405

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Multifamily

Pass

 

 

2,145

 

 

 

-

 

 

 

2,675

 

 

 

1,357

 

 

 

886

 

 

 

1,611

 

 

 

2,370

 

 

 

11,044

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Total Multifamily

 

 

2,145

 

 

 

-

 

 

 

2,675

 

 

 

1,357

 

 

 

886

 

 

 

1,611

 

 

 

2,370

 

 

 

11,044

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner-occupied commercial real estate

Pass

 

 

1,761

 

 

 

2,455

 

 

 

17,470

 

 

 

16,915

 

 

 

6,906

 

 

 

24,287

 

 

 

4,198

 

 

 

73,992

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

767

 

 

 

-

 

 

 

767

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

8,671

 

 

 

3,852

 

 

 

12,523

 

Total Owner-occupied commercial real estate

 

 

1,761

 

 

 

2,455

 

 

 

17,470

 

 

 

16,915

 

 

 

6,906

 

 

 

33,725

 

 

 

8,050

 

 

 

87,282

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other commercial real estate

Pass

 

 

837

 

 

 

9,692

 

 

 

29,370

 

 

 

12,078

 

 

 

4,850

 

 

 

31,950

 

 

 

612

 

 

 

89,389

 

Watch

 

 

7,953

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,836

 

 

 

-

 

 

 

9,789

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

87

 

 

 

-

 

 

 

87

 

Total Other commercial real estate

 

 

8,790

 

 

 

9,692

 

 

 

29,370

 

 

 

12,078

 

 

 

4,850

 

 

 

33,873

 

 

 

612

 

 

 

99,265

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

Term Loans by Year of Origination

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving

 

 

Total

 

Agricultural loans

 

Pass

 

 

1,946

 

 

 

2,545

 

 

 

2,185

 

 

 

439

 

 

 

248

 

 

 

17

 

 

 

7,633

 

 

 

15,013

 

Watch

 

 

-

 

 

 

-

 

 

 

16

 

 

 

-

 

 

 

31

 

 

 

-

 

 

 

150

 

 

 

197

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Total Agricultural loans

 

 

1,946

 

 

 

2,545

 

 

 

2,201

 

 

 

439

 

 

 

279

 

 

 

17

 

 

 

7,783

 

 

 

15,210

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

Pass

 

 

1,567

 

 

 

5,984

 

 

 

7,927

 

 

 

4,524

 

 

 

1,278

 

 

 

612

 

 

 

23,646

 

 

 

45,538

 

Watch

 

 

-

 

 

 

-

 

 

 

110

 

 

 

42

 

 

 

-

 

 

 

-

 

 

 

6,036

 

 

 

6,188

 

Substandard

 

 

-

 

 

 

-

 

 

 

68

 

 

 

612

 

 

 

-

 

 

 

-

 

 

 

60

 

 

 

740

 

Total Commercial and industrial

 

 

1,567

 

 

 

5,984

 

 

 

8,105

 

 

 

5,178

 

 

 

1,278

 

 

 

612

 

 

 

29,742

 

 

 

52,466

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

133

 

 

 

47

 

 

 

24

 

 

 

5

 

 

 

-

 

 

 

209

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

Pass

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

3,318

 

 

 

3,318

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1

 

 

 

1

 

Total Credit cards

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

3,319

 

 

 

3,319

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

21

 

 

 

21

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Automobile loans

Pass

 

 

17,564

 

 

 

45,646

 

 

 

31,633

 

 

 

14,625

 

 

 

4,957

 

 

 

1,949

 

 

 

-

 

 

 

116,374

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Substandard

 

 

-

 

 

 

113

 

 

 

87

 

 

 

170

 

 

 

21

 

 

 

5

 

 

 

-

 

 

 

396

 

Total Automobile loans

 

 

17,564

 

 

 

45,759

 

 

 

31,720

 

 

 

14,795

 

 

 

4,978

 

 

 

1,954

 

 

 

-

 

 

 

116,770

 

Current period gross write-offs

 

 

6

 

 

 

556

 

 

 

389

 

 

 

176

 

 

 

64

 

 

 

32

 

 

 

-

 

 

 

1,223

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other consumer loans

Pass

 

 

2,338

 

 

 

4,139

 

 

 

3,751

 

 

 

1,545

 

 

 

468

 

 

 

315

 

 

 

356

 

 

 

12,912

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Substandard

 

 

-

 

 

 

8

 

 

 

7

 

 

 

10

 

 

 

12

 

 

 

3

 

 

 

-

 

 

 

40

 

Total Other consumer loans

 

 

2,338

 

 

 

4,147

 

 

 

3,758

 

 

 

1,555

 

 

 

480

 

 

 

318

 

 

 

356

 

 

 

12,952

 

Current period gross write-offs

 

 

-

 

 

 

20

 

 

 

32

 

 

 

11

 

 

 

3

 

 

 

1

 

 

 

-

 

 

 

67

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal loans

Pass

 

 

-

 

 

 

-

 

 

 

118

 

 

 

849

 

 

 

1,065

 

 

 

3,293

 

 

 

-

 

 

 

5,325

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Total Municipal loans

 

 

-

 

 

 

-

 

 

 

118

 

 

 

849

 

 

 

1,065

 

 

 

3,293

 

 

 

-

 

 

 

5,325

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total loans

 

$52,801

 

 

$148,187

 

 

$166,876

 

 

$86,190

 

 

$61,784

 

 

$162,288

 

 

$148,876

 

 

$827,002

 

Less: Unamortized net deferred loan fees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(662)

Loans held for investment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$826,340

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross write-offs

 

$6

 

 

$576

 

 

$554

 

 

$234

 

 

$91

 

 

$38

 

 

$21

 

 

$1,520

 

 

The following table presents the Company’s recorded investment in loans by credit quality indicators by year of origination as of December 31, 2023 (dollars in thousands):

 

 

 

Term Loans by Year of Origination

 

 

 

 

 

 

 

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

1-4 Family residential construction

 

Pass

 

$162

 

 

$-

 

 

$-

 

 

$-

 

 

$-

 

 

$108

 

 

$29,214

 

 

$29,484

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

564

 

 

 

564

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

440

 

 

 

440

 

Total 1-4 Family residential construction

 

 

162

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

108

 

 

 

30,218

 

 

 

30,488

 

Current period gross write-offs

 

 

-

 

 

 

70

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

70

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other construction, land development and land

Pass

 

 

5,123

 

 

 

9,138

 

 

 

4,983

 

 

 

1,831

 

 

 

2,847

 

 

 

5,456

 

 

 

17,770

 

 

 

47,148

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

67

 

 

 

-

 

 

 

67

 

Substandard

 

 

511

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

23

 

 

 

-

 

 

 

534

 

Total Other construction, land development and land

 

 

5,634

 

 

 

9,138

 

 

 

4,983

 

 

 

1,831

 

 

 

2,847

 

 

 

5,546

 

 

 

17,770

 

 

 

47,749

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by farmland

Pass

 

 

7,503

 

 

 

15,834

 

 

 

13,688

 

 

 

27,020

 

 

 

2,509

 

 

 

7,842

 

 

 

5,869

 

 

 

80,265

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

781

 

 

 

-

 

 

 

-

 

 

 

781

 

Substandard

 

 

-

 

 

 

-

 

 

 

333

 

 

 

-

 

 

 

-

 

 

 

263

 

 

 

15

 

 

 

611

 

Total Secured by farmland

 

 

7,503

 

 

 

15,834

 

 

 

14,021

 

 

 

27,020

 

 

 

3,290

 

 

 

8,105

 

 

 

5,884

 

 

 

81,657

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity – open end

Pass

 

 

370

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

141

 

 

 

44,089

 

 

 

44,600

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

883

 

 

 

883

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

266

 

 

 

266

 

Total Home equity - open end

 

 

370

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

141

 

 

 

45,238

 

 

 

45,749

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate

Pass

 

 

53,413

 

 

 

47,785

 

 

 

15,211

 

 

 

12,192

 

 

 

6,490

 

 

 

55,665

 

 

 

386

 

 

 

191,142

 

Watch

 

 

-

 

 

 

45

 

 

 

-

 

 

 

499

 

 

 

155

 

 

 

4,893

 

 

 

-

 

 

 

5,592

 

Substandard

 

 

-

 

 

 

88

 

 

 

539

 

 

 

-

 

 

 

1,212

 

 

 

2,056

 

 

 

-

 

 

 

3,895

 

Total Real estate

 

 

53,413

 

 

 

47,918

 

 

 

15,750

 

 

 

12,691

 

 

 

7,857

 

 

 

62,614

 

 

 

386

 

 

 

200,629

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

19

 

 

 

-

 

 

 

19

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home Equity – closed end

Pass

 

 

1,126

 

 

 

382

 

 

 

117

 

 

 

1,044

 

 

 

464

 

 

 

1,690

 

 

 

-

 

 

 

4,823

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

12

 

 

 

-

 

 

 

-

 

 

 

12

 

Total Home Equity - closed end

 

 

1,126

 

 

 

382

 

 

 

117

 

 

 

1,044

 

 

 

476

 

 

 

1,690

 

 

 

-

 

 

 

4,835

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Multifamily

Pass

 

 

-

 

 

 

2,712

 

 

 

1,395

 

 

 

906

 

 

 

-

 

 

 

1,567

 

 

 

1,524

 

 

 

8,104

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

99

 

 

 

-

 

 

 

99

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Total Multifamily

 

 

-

 

 

 

2,712

 

 

 

1,395

 

 

 

906

 

 

 

-

 

 

 

1,666

 

 

 

1,524

 

 

 

8,203

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner-occupied commercial real estate

Pass

 

 

2,820

 

 

 

18,049

 

 

 

17,775

 

 

 

7,109

 

 

 

3,586

 

 

 

22,301

 

 

 

7,821

 

 

 

79,461

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

40

 

 

 

2,097

 

 

 

-

 

 

 

2,137

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

6,283

 

 

 

1,183

 

 

 

3,298

 

 

 

10,764

 

Total Owner-occupied commercial real estate

 

 

2,820

 

 

 

18,049

 

 

 

17,775

 

 

 

7,109

 

 

 

9,909

 

 

 

25,581

 

 

 

11,119

 

 

 

92,362

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Other commercial real estate

Pass

 

 

10,193

 

 

 

29,317

 

 

 

12,744

 

 

 

4,990

 

 

 

3,739

 

 

 

32,666

 

 

 

3,206

 

 

 

96,855

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

9,239

 

 

 

-

 

 

 

9,239

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

87

 

 

 

-

 

 

 

87

 

Total Other commercial real estate

 

 

10,193

 

 

 

29,317

 

 

 

12,744

 

 

 

4,990

 

 

 

3,739

 

 

 

41,992

 

 

 

3,206

 

 

 

106,181

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

Term Loans by Year of Origination

 

 

 

 

 

 

 

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving

 

 

Total

 

Agricultural loans

 

Pass

 

 

4,626

 

 

 

2,548

 

 

 

534

 

 

 

340

 

 

 

-

 

 

 

38

 

 

 

6,066

 

 

 

14,152

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

31

 

 

 

-

 

 

 

-

 

 

 

149

 

 

 

180

 

Substandard

 

 

-

 

 

 

48

 

 

 

14

 

 

 

11

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

73

 

Total Agricultural loans

 

 

4,626

 

 

 

2,596

 

 

 

548

 

 

 

382

 

 

 

-

 

 

 

38

 

 

 

6,215

 

 

 

14,405

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial

Pass

 

 

7,396

 

 

 

9,373

 

 

 

5,359

 

 

 

1,691

 

 

 

674

 

 

 

272

 

 

 

17,408

 

 

 

42,173

 

Watch

 

 

-

 

 

 

44

 

 

 

91

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,363

 

 

 

1,498

 

Substandard

 

 

-

 

 

 

-

 

 

 

632

 

 

 

25

 

 

 

-

 

 

 

1

 

 

 

-

 

 

 

658

 

Total Commercial and industrial

 

 

7,396

 

 

 

9,417

 

 

 

6,082

 

 

 

1,716

 

 

 

674

 

 

 

273

 

 

 

18,771

 

 

 

44,329

 

Current period gross write-offs

 

 

-

 

 

 

31

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2

 

 

 

-

 

 

 

33

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Cards

Pass

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

3,246

 

 

 

3,246

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

6

 

 

 

6

 

Total Credit cards

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

3,252

 

 

 

3,252

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

69

 

 

 

69

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Automobile loans

Pass

 

 

52,471

 

 

 

38,375

 

 

 

19,193

 

 

 

7,301

 

 

 

2,145

 

 

 

2,367

 

 

 

-

 

 

 

121,852

 

Watch

 

 

179

 

 

 

323

 

 

 

158

 

 

 

106

 

 

 

36

 

 

 

32

 

 

 

-

 

 

 

834

 

Substandard

 

 

98

 

 

 

48

 

 

 

63

 

 

 

6

 

 

 

18

 

 

 

5

 

 

 

-

 

 

 

238

 

Total Automobile loans

 

 

52,748

 

 

 

38,746

 

 

 

19,414

 

 

 

7,413

 

 

 

2,199

 

 

 

2,404

 

 

 

-

 

 

 

122,924

 

Current period gross write-offs

 

 

334

 

 

 

669

 

 

 

560

 

 

 

149

 

 

 

53

 

 

 

39

 

 

 

-

 

 

 

1,804

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other consumer loans

Pass

 

 

5,169

 

 

 

4,983

 

 

 

2,230

 

 

 

843

 

 

 

194

 

 

 

367

 

 

 

530

 

 

 

14,316

 

Watch

 

 

17

 

 

 

4

 

 

 

7

 

 

 

-

 

 

 

1

 

 

 

2

 

 

 

1

 

 

 

32

 

Substandard

 

 

12

 

 

 

7

 

 

 

2

 

 

 

-

 

 

 

6

 

 

 

1

 

 

 

-

 

 

 

28

 

Total Other consumer loans

 

 

5,198

 

 

 

4,994

 

 

 

2,239

 

 

 

843

 

 

 

201

 

 

 

370

 

 

 

531

 

 

 

14,376

 

Current period gross write-offs

 

 

-

 

 

 

77

 

 

 

3

 

 

 

3

 

 

 

6

 

 

 

4

 

 

 

-

 

 

 

93

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal loans

Pass

 

 

-

 

 

 

118

 

 

 

923

 

 

 

1,096

 

 

 

1,228

 

 

 

2,260

 

 

 

-

 

 

 

5,625

 

Watch

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Substandard

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Total Municipal loans

 

 

-

 

 

 

118

 

 

 

923

 

 

 

1,096

 

 

 

1,228

 

 

 

2,260

 

 

 

-

 

 

 

5,625

 

Current period gross write-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total loans

 

$151,189

 

 

$179,221

 

 

$95,991

 

 

$67,041

 

 

$32,420

 

 

$152,788

 

 

$144,114

 

 

$822,764

 

Less: Unamortized net deferred loan fees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(672)

Loans held for investment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$822,092

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross write-offs

 

$334

 

 

$847

 

 

$563

 

 

$152

 

 

$59

 

 

$64

 

 

$69

 

 

$2,088